Editor's Blog1 min ago
Opening A Bank Account
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I decided to open a bank account with the bank right next to where I live. However since it is a long time since I opened one - I couldn't believe the parapheranalia that was involved.
The lad was only doing his job but I told him after about one hour and 10 minutes of ID, ID number, type this number on but don't use that number and gave me like a tiny card with lots of 6 digits.
I told him that no reflection on him but for anybody trying to join that bank - going through that would have been mayhem for many older people.
I had to actually type a 4 digit number that I had to make up quickly in my head (on his computer) and something else I had to type. What about people who literally do not have keyboard skills or anything like that. Unbelievable. I did tell him to convey my annoyance at this at his schedules/meetings etc. Sorry I joined to be honest or is this the norm.
The lad was only doing his job but I told him after about one hour and 10 minutes of ID, ID number, type this number on but don't use that number and gave me like a tiny card with lots of 6 digits.
I told him that no reflection on him but for anybody trying to join that bank - going through that would have been mayhem for many older people.
I had to actually type a 4 digit number that I had to make up quickly in my head (on his computer) and something else I had to type. What about people who literally do not have keyboard skills or anything like that. Unbelievable. I did tell him to convey my annoyance at this at his schedules/meetings etc. Sorry I joined to be honest or is this the norm.
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It's the norm and comes about, in part at least, because of anti-money laundering regulations.
I had an account with Santander which had a cash card that could only be used at ATMs. (i.e. it wasn't a debit card that I could use for payments in shops or online). So I asked them if I could upgrade to having a proper debit card instead. I was hoping for just a simple 'yes' or no' answer but, instead, I was told that I'd have to make an appointment to see an adviser, which required me to wait a few days. When I got to see the adviser I then had to spend nearly an hour filling in forms and answering questions, despite being an existing customer, before being told that they'd need to get a response from head office. I then had to wait for a further fortnight before being told that I could have a debit card.
I had an account with Santander which had a cash card that could only be used at ATMs. (i.e. it wasn't a debit card that I could use for payments in shops or online). So I asked them if I could upgrade to having a proper debit card instead. I was hoping for just a simple 'yes' or no' answer but, instead, I was told that I'd have to make an appointment to see an adviser, which required me to wait a few days. When I got to see the adviser I then had to spend nearly an hour filling in forms and answering questions, despite being an existing customer, before being told that they'd need to get a response from head office. I then had to wait for a further fortnight before being told that I could have a debit card.
Almost anything inside a bank seems to take ages these days. When the old pound coins were being taken out of circulation I took 140 of them into Barclays bank in Stowmarket (where I've got an account) hoping to simply exchange old for new. However I was sent away from the counter with some plastic coin bags to fill, putting £20 into each one. Then I had to fill in a form to pay them into my account. Then I had to withdraw the money from my account. In total it took me about 40 minutes.
Today I found out, after numerous earlier consultations that a bank I am with makes it an inescapable requirement that you do business with a completely separate company (doesn't matter which so long as it is in a particular field of operations) for you to disclose/enter one detail of that relationship and become eligible for online banking. I was incredulous but he basically sniffed that I was/am a weirdo for taking that attitude, everybody has to. Preceding this and after it there followed a rather comical/farcical list of bits and pieces like you describe. I explained to the fellow that I have other accounts and online facilities with other banks both in the UK and abroad which did not require me to have and confirm dealings with a third party. He blethered a bit about security, none of which stood up to scrutiny - in the end I explained that I did not hold him, responsible but that I found the attitude of the bank nonsensical as well as irritating and we parted. Oh, the third party must be a mobile phone company. I wonder when it will become a requirement to enter the chassis number of your car to have a mobile phone - then you would have to buy a car to have a mobile phone to have online banking. Other imaginative add-ons exist. Just think of the stimulus to the UK economy.
should try opening an account for a half-American/half Brit with no valid NI number.....we did eventually with RBS
Then despite all the electronics, they get it wrong, I was in my bank yesterday settling my credit card bill and I also took the opportunity to squirt my daughter at Uni some money. Took it down from savings and the teller lined it up to the right account for her.
I emailed her and she came back at 2.30 mid pm to say nothing had arrived. 1 hour 20 on the phone with Lloyds tele-banking and we got it resolved or so I thought.
In short, the teller made a mistake and should have sent the dosh from savings to current and then over on a faster payment.
Somewhere in the system, a red flag went off and the person in payments cancelled it but didn't credit my account - then raised another transaction but with two DTs on my bill payments (the daughter's and one of my old accounts once used to pay for a building restoration), she took the gamble on our initials and sent it to the wrong account - i.e to mine.
The time taken to recover the money - tbd by 5pm, good grief - and then a third transaction to my daughter, this one successful.
10 quid for the phone bill and 50 for the screw-up sent to current.
This morning, I go in to check that the money had come back in - nope we had three transactions and one credit but not the second. We called across the foyer rep so as to free up the teller - and, as we were explaining the above, suddenly, in front of them, the account updates and the second credit came in - at the odd time of 10 in the morning.... Lesson - stick to tele-banking perhaps.
Then despite all the electronics, they get it wrong, I was in my bank yesterday settling my credit card bill and I also took the opportunity to squirt my daughter at Uni some money. Took it down from savings and the teller lined it up to the right account for her.
I emailed her and she came back at 2.30 mid pm to say nothing had arrived. 1 hour 20 on the phone with Lloyds tele-banking and we got it resolved or so I thought.
In short, the teller made a mistake and should have sent the dosh from savings to current and then over on a faster payment.
Somewhere in the system, a red flag went off and the person in payments cancelled it but didn't credit my account - then raised another transaction but with two DTs on my bill payments (the daughter's and one of my old accounts once used to pay for a building restoration), she took the gamble on our initials and sent it to the wrong account - i.e to mine.
The time taken to recover the money - tbd by 5pm, good grief - and then a third transaction to my daughter, this one successful.
10 quid for the phone bill and 50 for the screw-up sent to current.
This morning, I go in to check that the money had come back in - nope we had three transactions and one credit but not the second. We called across the foyer rep so as to free up the teller - and, as we were explaining the above, suddenly, in front of them, the account updates and the second credit came in - at the odd time of 10 in the morning.... Lesson - stick to tele-banking perhaps.
jennyjoan, my son went to Denmark (Copenhagen) to work for a while, he went to register as a resident. Having taken a number when entering the relevant authority's premises, he waited to be seen for about half an hour. In something over 15 minutes he was given a national ID number - this is central to everything there - and he was also instantly signed up with a family doctor in his neighbourhood. He walked to a nearby bank and, quoting his ID number, in about 10 minutes he had a bank account. I have been through something very similar in another Nordic country. Outside the UK things work so much better.
Chris, I don't believe any of these things have anything to do with money laundering - they are due to a predilection for convolution, complication and obscurantism. Functional simplicity and transparency are rare things in this country, they are foreign precepts and thus undesirable. The most common refrain is security and data protection without any basis for these - obstruction seems to be the main aim.
Chris, I don't believe any of these things have anything to do with money laundering - they are due to a predilection for convolution, complication and obscurantism. Functional simplicity and transparency are rare things in this country, they are foreign precepts and thus undesirable. The most common refrain is security and data protection without any basis for these - obstruction seems to be the main aim.
slight digression but still a banking story.
Union Bank of Scotland changed their Hong Kong MD and a woman came out.
She checks into the Mandarin Oriental - and into the Presidential Suite no less at $US 2000 a night in 1993
After a month, the Oriental has received no payment despite asking her to settle a chunk of the outstanding/overdue. In frustration, they contact Zurich HO for UBS.
Back came two messages to the Oriental.
1. "You will be credited onto account by the end of the day for the full outstanding amount. Apologies for the inconvenience."
2. "To Ms. XXX, occupant of suite 2401, you are fired."
Union Bank of Scotland changed their Hong Kong MD and a woman came out.
She checks into the Mandarin Oriental - and into the Presidential Suite no less at $US 2000 a night in 1993
After a month, the Oriental has received no payment despite asking her to settle a chunk of the outstanding/overdue. In frustration, they contact Zurich HO for UBS.
Back came two messages to the Oriental.
1. "You will be credited onto account by the end of the day for the full outstanding amount. Apologies for the inconvenience."
2. "To Ms. XXX, occupant of suite 2401, you are fired."
If I need to transfer money from Santander I go to the branch.
Last time I did that because I tried telephone banking for the first time. Can't remember why it wouldn't work!
I knew I couldn't do it online - as I'd need a one time passcode. To get one of them you need a mobile phone (which I don't have), or as was once suggested by Santander "someone elses mobile" - to which I told them that I was not willing to do that!
Last time I did that because I tried telephone banking for the first time. Can't remember why it wouldn't work!
I knew I couldn't do it online - as I'd need a one time passcode. To get one of them you need a mobile phone (which I don't have), or as was once suggested by Santander "someone elses mobile" - to which I told them that I was not willing to do that!
yeah it is about par for the course
Buenchico's experience was because Santander are crip - they wanted him to open an interest bearing account with a fixed fee ( always more than the interest )
and THAT was because the svelte woman CEO (thpanith of course) - clearly an intellectual thinker said once - "zer day of zee free banking is over." - well that took care of her inflated salary huh?
Buenchico's experience was because Santander are crip - they wanted him to open an interest bearing account with a fixed fee ( always more than the interest )
and THAT was because the svelte woman CEO (thpanith of course) - clearly an intellectual thinker said once - "zer day of zee free banking is over." - well that took care of her inflated salary huh?
// also incredulous in him asking for my consent to him stating that I was deaf//
um - not sure - medical detail but once it becomes financial it is subject to less severe rules of confidentiality
when I was in dispute with the truly awful netrail I went down in person and said to Miss X - "I want you to see that I have my eyelids sewn together in one eye - just in case you later say you had no I idea I was half blind..."
and Miss X didnt look terribly pleased to have this confidential information imparted to her .....
[Miss X was a senior station operative]
um - not sure - medical detail but once it becomes financial it is subject to less severe rules of confidentiality
when I was in dispute with the truly awful netrail I went down in person and said to Miss X - "I want you to see that I have my eyelids sewn together in one eye - just in case you later say you had no I idea I was half blind..."
and Miss X didnt look terribly pleased to have this confidential information imparted to her .....
[Miss X was a senior station operative]
I have accounts with three banks - Santander, NatWest and Nationwide and I use online banking with all of them.
In the last few weeks I decided to tidy up my various accounts (I probably had over a dozen different accounts with them - current accounts, ISAs, savings accounts etc).
I moved 4 Santander ISAs to NatWest
I open a new Savings Builder Account with NatWest
I opened a regular savings account with Santander and another with Nationwide.
I have moved thousands of pounds between various accounts
And I closed a number of accounts.
AND I DID NOT NEED TO VISIT THE BANK ONCE. I DID IT ALL ONLINE.
Seems banks make it easier to do things online than in their branches
In the last few weeks I decided to tidy up my various accounts (I probably had over a dozen different accounts with them - current accounts, ISAs, savings accounts etc).
I moved 4 Santander ISAs to NatWest
I open a new Savings Builder Account with NatWest
I opened a regular savings account with Santander and another with Nationwide.
I have moved thousands of pounds between various accounts
And I closed a number of accounts.
AND I DID NOT NEED TO VISIT THE BANK ONCE. I DID IT ALL ONLINE.
Seems banks make it easier to do things online than in their branches
