syalith
Member of DD Central
Posts: 62
Likes: 102
|
Post by syalith on Dec 16, 2016 13:35:14 GMT
I'm with Tesco bank and made a payment of £10k to fundingsecure last night in preparation for a loan opportunity today but when I logged in this morning the funds had not been received by fundingsecure and when I phoned Tesco bank I found out that the payment had been put on hold for "security reasons". The loan has now filled and I missed out on it. At no point did Tesco bank inform me that my payment had not gone through as normal and I only found out by phoning them.
I'm sick and tired of banks treating me like an idiot who can't manage his money and just want a bank account that actually sends payments when I request them, preferably with a higher faster payment limit than £10k daily as well. Does such a bank exist?
|
|
|
Post by bracknellboy on Dec 16, 2016 13:39:13 GMT
Well I would highly recommend First Direct. They do have max. payment limits of 10k on single faster payments still.
I do hold savings and current account with Tesco, and to date have never had a problem with them. Payments out (admittedly from the savings accounts) have always been rapid: I do however find their limit of 10k per day - I think that is how it works - withdrawl from account, certiainly if to same destination to be a pain.
|
|
Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
|
Post by Neil_P2PBlog on Dec 16, 2016 13:40:55 GMT
Perhaps Tesco bank is more on edge with suspicious payments after the bank payments hack a couple of months ago?
I used to get it all the time with Natwest, even topping up my TD direct investing S&S ISA, last few months have been fine though.
|
|
syalith
Member of DD Central
Posts: 62
Likes: 102
|
Post by syalith on Dec 16, 2016 14:08:36 GMT
Thanks for the suggestions.
I've had a look around and decided to try Nationwide for now. Their website says there is a £10k limit on individual payments but no daily limit so I can just make multiple payments. But the main thing is I can see in my online banking there that you can check the status of payments you have made to see if they have gone through. This seems much better than Tesco where you are told your payment has been made even when it hasn't.
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Dec 16, 2016 14:10:21 GMT
I've always found Lloyds remarkably tolerant of large one-off transactions (their daily total and one-off FP limits are both £25k I believe). Transfers (both in and out) are also processed instantly, even at night and over weekends.
|
|
mikeh
Member of DD Central
Posts: 499
Likes: 370
|
Post by mikeh on Dec 16, 2016 14:31:49 GMT
I find Nationwide very reliable. Transfers both ways are instant. They still have a 5% regular saver too (£500 pm)
|
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Dec 16, 2016 17:40:06 GMT
Thanks for the suggestions. I've had a look around and decided to try Nationwide for now. Their website says there is a £10k limit on individual payments but no daily limit so I can just make multiple payments. But the main thing is I can see in my online banking there that you can check the status of payments you have made to see if they have gone through. This seems much better than Tesco where you are told your payment has been made even when it hasn't. I use Natwest and have never has a problem sending £20K by FP.
|
|
fasty
Member of DD Central
Posts: 1,038
Likes: 388
|
Post by fasty on Dec 16, 2016 17:49:03 GMT
Natwest froze my first payment to Moneything, but didn't see fit to actually inform me.
Santander leaked a unique and obscure email address known only to me and them - I have received several phishing emails to it. Others have also experienced this, but Information Commissioner's Office said that there "wasn't enough evidence" to proceed with complaint.
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on Dec 16, 2016 17:58:30 GMT
Natwest froze my first payment to Moneything, but didn't see fit to actually inform me. Santander leaked a unique and obscure email address known only to me and them - I have received several phishing emails to it. Others have also experienced this, but Information Commissioner's Office said that there "wasn't enough evidence" to proceed with complaint. I looked into one of the SIPP providers sufficiently to have allocated them a unique email address. This leaked. (The same happened with an execution-only broker, but as it was used on their email-based forum, in that case it may well have leaked from another participant's email client.) One bank (I forget which one) stopped an ISA subscription, so I paid it from another bank.
|
|
syalith
Member of DD Central
Posts: 62
Likes: 102
|
Post by syalith on Dec 16, 2016 19:34:01 GMT
Thanks for the suggestions. I've had a look around and decided to try Nationwide for now. Their website says there is a £10k limit on individual payments but no daily limit so I can just make multiple payments. But the main thing is I can see in my online banking there that you can check the status of payments you have made to see if they have gone through. This seems much better than Tesco where you are told your payment has been made even when it hasn't. I use Natwest and have never has a problem sending £20K by FP. I'm banned from Natwest and RBS group banks. They sent me a letter a couple years back giving my 90 days to switch banks with no reason given.
|
|
jonah
Member of DD Central
Posts: 2,031
Likes: 1,113
|
Post by jonah on Dec 16, 2016 19:45:27 GMT
|
|
greatmarko
Member of DD Central
Posts: 343
Likes: 373
|
Post by greatmarko on Dec 17, 2016 0:19:00 GMT
It's also worth bearing in mind which bank each P2P platform's client accounts are held with - as if you're also with the same bank, your transactions are likely to be faster (near instantaneous) than a transaction from your bank to a different bank. I recently compiled a list of which bank P2P platforms hold client accounts in which bank in this thread.
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Dec 17, 2016 0:39:17 GMT
I find barcleys are fine, santander just randomly stop trascations had transactions for £30 stopped but one for £15,000 at same time go thro so hit and miss with them.
|
|
DiQ
Member of DD Central
Posts: 61
Likes: 48
|
Post by DiQ on Dec 18, 2016 12:33:28 GMT
I think the questions needs rephrasing to "Which bank is the least bad"!
Let's face it, none of them are "good", they don't exist for your benefit they exist to make money out of you. What they do is pretty standardised too so it shouldn't be seen as X bank makes faster transfers more X bank actually does the basic task that it advertises it does correctly. Anything less than that is failure.
The only difference between them is how they treat you as a human and for that I believe Nationwide to be the only bank to even come close have treated me as human. I've many accounts with many banks and Nationwide are the only one's who have ever taken anything I've told them seriously. It was almost like they... looking for a better way to say this... gave two s***s what I told them. All the others couldn't care less what you think and have completely lost sight who's paying their bills.
For example a large Spanish bank started randomly sending my wife's statements to an address we lived at two addresses previous to where we currently live. They told her that it wasn't possible to change the address without the post that was being send to an address 160 miles away. We'd not even changed address recently, they just decided to on her behalf. On the phone they couldn't even act like human beings and listen to the nonsensical advice they were giving her. They were basically giving her the "computer says no" line. IDIOTS.
|
|
|
Post by GSV3MIaC on Dec 18, 2016 13:10:55 GMT
/mod hat firmly off..
Nationwide would get my vote, despite having adopted some unpleasantly bankish attributes in the last few years. Smile (aka Co-op bank) work OK too, and haven't gone broke yet, but their interest accounts are now pitiful (more so than the other two). First Direct (but I fled them many years ago when they off-shored their phone answering .. now fixed).
Ideally have at least two 'just in case' (in case their systems crash, your card gets eaten, they do an Icesave and you are stuffed for X weeks, etc) (plus that allows you to round-trip funds to meet any 'must pay in £x a month' limits.
Tesco/Sainsbury/etc .. No Ta, none of them are (last I looked) actually banks, they are all re-branded 'someone else', so at least 2 parties to deal with when they mess up. Barclays/RBS/Lloyds etc. Why on earth would you? (unless you live next to a branch, or know the manager) Santander? words fail me.. (Although I used to be in favour of many of the B/Soc pieces they gobbled up, and then promptly broke).
|
|