benaj
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Post by benaj on Jul 13, 2022 6:56:12 GMT
Could someone tell me the difference between “access money” and “withdraw money”?
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Post by df on Jul 13, 2022 20:49:35 GMT
During the notice period, of course you get the boosted rate. I thought so, just wanted to double check. Called hem this morning and they confirmed. Interesting that the person I was speaking to didn't know the answer, he had to put me on hold for a couple of minutes to find out
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Post by df on Jul 13, 2022 20:55:42 GMT
During the notice period, of course you get the boosted rate. Can you find or download the t and c for the pots? I can’t find them online. only fixed terms account have T and Cs I couldn't find any for this product. Opening account was easy. They already have my details from p2p account, so the whole process took about 2 minutes.
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Post by df on Jul 13, 2022 21:11:18 GMT
🙄 Well, it seems zopa accounts or pots does not accept BACS, CHAPS. Only FPS / Open FPS. I start to wonder what exactly is a “pot”? Don’t they insist it is not an bank account. I have already lost faith with those “vaults” by another company. Zopa “Access” p2p lending account liquidity was questionable at one point. Warning from banks when you make instant transfer to Smart SaverThat's the case with all alternative banks I've used. The name on the account is not recognised. I normally deposit £1 first just to be sure and then deposit the rest of intended sum. Fine with this account, took 2 minutes to arrive and transfer to 95-days' was instant.
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benaj
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Post by benaj on Jul 13, 2022 22:40:10 GMT
I managed to get them to sent me a copy of t n c for smart saver.
Interesting read
struggling to find “any time” related to “withdrawal” 🔍
Didn’t expect to see “accessing locked money”
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aju
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Post by aju on Jul 14, 2022 9:43:48 GMT
I managed to get them to sent me a copy of t n c for smart saver. Interesting read struggling to find “any time” related to “withdrawal” 🔍 Didn’t expect to see “accessing locked money” I've been trying to understand this recently but as its an app based account and i don't trust them as much as i do my desktop machine, quite apart from the fact they a damned difficult to use when one needs multiple screens a lot of the time. I pulled this from their web page i can see on my desktop machine and quite a way down there is a "People often ask us" section near the bottom of a long page. I read this answer to mean when you move funds to a boosted pot you select a notice period of access to the boosted pot. I'm assuming that you already have an access period in the account it was boosted from and that that period will apply too, perhaps. I'm assuming the two are not the same but who knows as its not exactly addressed. I would say this is quite typical of Zopa and its T&C's over the years, sadly most of these fast moving processes seem to be on the hoof until someone spots a hole and they then shore this up and change the terms, as I alluded to in an earlier post above. It is what it is I guess. As i have also stated elsewhere (Another thread I think), however, challenging these things can be quite a lucrative gain when it's clear the T&C's are not that water tight and subsequently you fall victim to them. Like you I am wary of everything before I commit to some of these types of account. It affects big banks too especially as they are trying to prevent people like me and many others who take their gaping holes and make them work for us. All that said i may be completely off the mark here and you are right to query it before using it. I wish you luck getting the answers you need and apologies if I have misread your issue. (Edit: I remembered afterwards that Zopa was quite cavalier with the trustpilot review values in the past so i went and checked and the bad reviews are quite telling but the website still has 4.9 when TP seems to be 4.5. I queried this stuff when Zopa was a P2P site and it was worse levels but they refused to change them or remove TP values. So nothing has changed as such just a different product.(I must admit though some of the reviews are a bit pedantic even if they are correct to the letter!)
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benaj
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Post by benaj on Jul 14, 2022 10:06:30 GMT
Managed to made 2 withdrawals on the app with Smart Saver. Money was released within 20 minutes after receiving withdrawal request emails from Zopa.
Withdrawals are tagged with different payment refs.
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Post by df on Jul 15, 2022 20:22:19 GMT
Managed to made 2 withdrawals on the app with Smart Saver. Money was released within 20 minutes after receiving withdrawal request emails from Zopa. Withdrawals are tagged with different payment refs. Deposits seem to take about 5+ minutes to arrive, not as instant as between mainstream banks. But the last one took much longer - after 5 hours of waiting I was just about to call Zopa to chase my money, but got a call from First Direct instead... 15 minutes of questioning and the payment went through to Zopa. One of the questions was "you have savings account with FD, why do you send your money to other banks?"... I had to explain that FDs regular saver (currently the best rate for this type of product on the market) only allows £300 a month.
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benaj
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Post by benaj on Jul 16, 2022 7:53:42 GMT
- after 5 hours of waiting I was just about to call Zopa to chase my money, but got a call from First Direct instead... 15 minutes of questioning and the payment went through to Zopa. One of the questions was "you have savings account with FD, why do you send your money to other banks?"... 😅 I also got a call from the First Direct agent. However, the money was “reversed” after 8 hours. It got reversed because the agent couldn’t go through his set questions and told me uncomfortable to carry one. He wouldn’t accept my answers as genuine transactions. It was ridiculous FD decided to reverse the amount in question but not the entire I paid into Zopa’s smart saver. Their explanation, the other amount wasn’t checked by the fraud team so no need to reverse. 🤣 I probably need to raise this to Ombudsman as they claim they did nothing wrong.
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Post by bracknellboy on Jul 16, 2022 15:21:29 GMT
On the subect of First Direct, payments from them, refusal to action, and their f*********d team:
Cards on the table: I've been an FD customer for probably around 30 years. I think I joined them very shortly after they set out in 89/90. I've always sung their praises, as banks go historically I thought the sun shone out their a***. Brilliant. Apparently many others felt the same for more than a couple of decades as they consistently score highly.
However, in recent times I have been getting increasingly frustrated and at times pretty bloody angry at them. For the decline in the quality of their telephone service (particularly time to answer)*, for the poor quality of their mobile app relative to others, the levels of frustration when trying to do certain transactions with them, and in particular THE UTTER STUPIDITY of their anti fraud practices and policies when it comes to transfers. I DO NOT WANT TO SPEND 45-60 minutes OVER TWO DAYS trying to get a transfer done, I do not want transfers reversed out WITHOUT MY KNOWLEDGE OR PERMISSION, and I don't want to waste my time talking to and debating with a blithering idiot in their "highly trained" anti-fraud team.
Based on my experiences handling my father's finances with ANO bank, I've come very close to moving. But I'm not sure I can yet be ar**d to do so. I guess I hold on to the hope that they will get back to be the market leading customer service bank that they used to be. But perhaps I should just realise that things move on.
*And their CEO or whoever had the temerity to send comms to their customers saying that problems had arisen because more of their customers were taking up the use of the telephone banking system, unexpectedly. Without having the nous to perhaps conduct a survey to find out why: for which the answer is pretty bloody simple: with all of the hoops they have thrown in coupled with a poor app, those of us who for years were quite happy doing 99% of our stuff online have felt compelled to go back to using telephone banking for a lot of stuff as it cut out a lot of the s**t they had recently thrown in the way of a smooth customer experience.
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michaelc
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Post by michaelc on Jul 16, 2022 15:57:49 GMT
On the subect of First Direct, payments from them, refusal to action, and their f*********d team: Cards on the table: I've been an FD customer for probably around 30 years. I think I joined them very shortly after they set out in 89/90. I've always sung their praises, as banks go historically I thought the sun shone out their a***. Brilliant. Apparently many others felt the same for more than a couple of decades as they consistently score highly. However, in recent times I have been getting increasingly frustrated and at times pretty bloody angry at them. For the decline in the quality of their telephone service (particularly time to answer)*, for the poor quality of their mobile app relative to others, the levels of frustration when trying to do certain transactions with them, and in particular THE UTTER STUPIDITY of their anti fraud practices and policies when it comes to transfers. I DO NOT WANT TO SPEND 45-60 minutes OVER TWO DAYS trying to get a transfer done, I do not want transfers reversed out WITHOUT MY KNOWLEDGE OR PERMISSION, and I don't want to waste my time talking to and debating with a blithering idiot in their "highly trained" anti-fraud team. Based on my experiences handling my father's finances with ANO bank, I've come very close to moving. But I'm not sure I can yet be ar**d to do so. I guess I hold on to the hope that they will get back to be the market leading customer service bank that they used to be. But perhaps I should just realise that things move on. *And their CEO or whoever had the temerity to send comms to their customers saying that problems had arisen because more of their customers were taking up the use of the telephone banking system, unexpectedly. Without having the nous to perhaps conduct a survey to find out why: for which the answer is pretty bloody simple: with all of the hoops they have thrown in coupled with a poor app, those of us who for years were quite happy doing 99% of our stuff online have felt compelled to go back to using telephone banking for a lot of stuff as it cut out a lot of the s**t they had recently thrown in the way of a smooth customer experience. When I started work I started with Smile largely because they had a moderately high bar to entry and I guessed (rightly as it turned out) that their customer service would be better than some other banks. For 10 or 15 years I was very happy. Rarely needed to call but when I did I got through to a native english speaker quickly. Then it all went to shite and so I moved to FD. I again was pretty impressed at the start by how they just picked up the phone and said "Hello" (ok a bit more than that) but cut out a lot of the automated telephone systems. They use voice recognition technology which most all of the time means I doin't need to remember a gazillion passwords to get through. I don't call them often enough but when I do it feels like its perhaps more usual to have to wait on the phone than before. Perhaps banks needs to distinguish between those who chose to do all their banking via the phone vs those who try and do it online or via the app and only call when they really need to. Perhaps not in an aggressive way but maybe subetly deprioritise those customers who have clearly conducted a lot of unnecessary calls. Maybe they could also have an "emergency" option. Normally I don't care about bank waiting times because I don't call them but if my account gets emptied out by a fraudster I really don't want the trauma of waiting an hour on the phone.... Edit: Oh and whilst in Ukraine I have had problems with them blocking payments. Its always when you're in "dodgy" places that these things happen which is exactly when it is expensive and difficult to get in touch.
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Post by bracknellboy on Jul 16, 2022 16:45:55 GMT
biggest problem I have with FD right now is them blocking payments to new places.
As an example, about 12-18 months ago I opened account with Atom for the first time. My first payment to them (online), got blocked before actioning. I had a msg left by the f***d team. I called back, got it sorted eventually. I subsequently opened up additional accounts with Atom. The next one the first payment was blocked, and unknown to me they reversed the transaction. I was less than chuffed, and told them so in no uncertain terms a couple of days later when I realised. The next one I did, that also got blocked. Like you are telling me you have this sophisticated anti fraud software that monitors for patterns of behaviour, and yet you can't figure out that this followed a pattern.
The list goes on in recent times. Arguing that you don't need to tell me about clicking links in emails you're not sure about when I've already told you I DIDN'T, ad that its an account IN MY NAME I have just setup; and no call centre person, you can't 'clone' websites in the sense you are telling me: if the domain part of the URL is correct, something has gone really badly wrong with the entire internet if it takes me to a website which is a fraudulent clone. etc. etc. etc.
The last time this happened to me (can't recall which bank I was sending to) it was late and I got into a 45 minute ridiculous conversation. I was left so bamboozled I cancelled the transaction* on the phone. Next morning I did a tester transfer of £10, then the original 5 figure sum, and the FD system let it straight through where it had flagged and blocked it before. Well that makes a lot of sense from an anti fraud perspective .....
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michaelc
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Post by michaelc on Jul 16, 2022 19:02:46 GMT
Could the problem be if you don't put any regular income into that account and just use it to move "large" sums the bank might not like it ?
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Post by df on Jul 16, 2022 20:28:10 GMT
On the subect of First Direct, payments from them, refusal to action, and their f*********d team: Cards on the table: I've been an FD customer for probably around 30 years. I think I joined them very shortly after they set out in 89/90. I've always sung their praises, as banks go historically I thought the sun shone out their a***. Brilliant. Apparently many others felt the same for more than a couple of decades as they consistently score highly. However, in recent times I have been getting increasingly frustrated and at times pretty bloody angry at them. For the decline in the quality of their telephone service (particularly time to answer)*, for the poor quality of their mobile app relative to others, the levels of frustration when trying to do certain transactions with them, and in particular THE UTTER STUPIDITY of their anti fraud practices and policies when it comes to transfers. I DO NOT WANT TO SPEND 45-60 minutes OVER TWO DAYS trying to get a transfer done, I do not want transfers reversed out WITHOUT MY KNOWLEDGE OR PERMISSION, and I don't want to waste my time talking to and debating with a blithering idiot in their "highly trained" anti-fraud team. Based on my experiences handling my father's finances with ANO bank, I've come very close to moving. But I'm not sure I can yet be ar**d to do so. I guess I hold on to the hope that they will get back to be the market leading customer service bank that they used to be. But perhaps I should just realise that things move on. *And their CEO or whoever had the temerity to send comms to their customers saying that problems had arisen because more of their customers were taking up the use of the telephone banking system, unexpectedly. Without having the nous to perhaps conduct a survey to find out why: for which the answer is pretty bloody simple: with all of the hoops they have thrown in coupled with a poor app, those of us who for years were quite happy doing 99% of our stuff online have felt compelled to go back to using telephone banking for a lot of stuff as it cut out a lot of the s**t they had recently thrown in the way of a smooth customer experience. I've been with FD since mid 90's. What attracted me was the telephone banking (no need for visiting branch unless depositing/withdrawing cash), very innovative idea I thought. Later they've offered 8% regular saver, that was impressive. Things in banking world changed since then, but I still like FD. I was using internet banking, but when my "key" packed in I've switched to app - so much easier now. I didn't find any problems with FD's app, works fine for me. Anti fraud phone calls seems to be a norm now. In the recent past I had the same with Lloyds and Halifax, the difference was - I had to call them as opposed to FD called me. Calls to Lloyds/Halifax took long time to get through. In case of Lloyds, at the end of conversation the payment went through. But not with Halifax, I had to make several calls and they kept saying that there's nothing wrong and payments should go through, in reality nothing went through and I was blocked from operating my accounts on line. I've resolved the problem by logging in to Bank of Scotland and emptying all my Halifax accounts from there, withdrawing from BoS current account didn't trigger any anti-fraud calls.
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benaj
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Post by benaj on Jul 17, 2022 0:43:33 GMT
…. Next morning I did a tester transfer of £10, then the original 5 figure sum, and the FD system let it straight through where it had flagged and blocked it before. Well that makes a lot of sense from an anti fraud perspective ..... I also have an Atom account. FD has never blocked mine yet. However, i notice the account was opened with ££, they have never blocked any amount under Daily FPS limit on the phone, or 25k with the app.
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