HSBC customer relations.

[Minxy]

It is an interest only mortgage so whilst the overpayment would reduce the capital it does not do me any favours.

I could have settled it 11 years ago but the mortgage interest rate is quite a bit less than the profit I have been making from the balance, so it is more beneficial for me to keep the money for as long as possible rather than give it to the bank, unless the base rate were to rise substantially.

Ours is base plus 0.99%

I bet HSBC didn't reckon on me paying them less than 1.5% for most of the time we've had it, but to be fair neither did I

Same as us, we have an HSBC tracker mortgage that currently has a rate of 1.49% (0.74% above base rate) so no point in paying it off until we have to.

 

[Minxy]

The problem is , as I stated in the first post, with the hsbc before you finalise the payment it asks you to check & recheck as "once the payment is made it cannot be recalled".
As the OP had paid ,the contractor had received it, & remember a payment between 2 accounts using the same bank is instant, there is no delay ,I would be wanting to know, especially if I was the recipient , how they removed the payment as it could only have been done illegally by my understanding ?
I'd be apoplectic.

Not quite, my understand is that the original sender (ie OP) cannot recall it but the bank itself can if they believe it is fraudulent/not safe etc ...

I really do NOT understand why so many people are getting het up about something which is put in place to protect US, the customers, from fraud!!!!!

 

[HandyAndy]

Well if you don't do queues (i.e didn't have the patience to wait for an operator) what did you expect the bank to do if they thought it was fraudulent, Just let it be paid??
It's their job to look after your money and they were trying to!!
I'm sure you'd be on here moaning if they allowed a REAL fraudulent transaction to go through and YOU lost out..
So rather than moan on the internet, why not just say to the contractor, "sorry, bank playing silly buggers and thought it was fraudulent, I'll re-send it now I've confirmed with them it isn't. Sorry about that old chap"..
THE END
No drama, no crisis, no "customer relations issues" at all really, hardly even an inconvenience IMO.

 

[bertiebasset]

Well if you don't do queues (i.e didn't have the patience to wait for an operator) what did you expect the bank to do if they thought it was fraudulent, Just let it be paid??

So rather than moan on the internet, why not just say to the contractor, "sorry, bank playing silly buggers and thought it was fraudulent, I'll re-send it now I've confirmed with them it isn't. Sorry about that old chap"..
THE END
No drama, no crisis, no "customer relations issues" at all really, hardly even an inconvenience IMO.

Except there was no OPERATOR to wait for,, automated with only an answer of "all our operators are busy right now, please wait, your call is important to us blah blah blah,
I would have expected them to follow up with another call to discuss before taking back the money from my contractors account. Indeed,, when speaking with my branch manager she actually agreed that is how it should have happened.
and , as the log in system is down,, and had been since Sunday it seems,, just how was I to pay him again,, and if doing so would they just have taken it back again.

 

[Wild Brambles]

Everything surrounding banking seems to be getting harder, and that is why I became interested in Bitcoin. I'm with the Nationwide, and they have given me a plastic card reader to verify access to my account, and to make online payments. I really like this idea, I pay for my domain name renewals via my credit card, and it is a dollar payment to an American registrar. They have started to send me an SMS message to verify the payment after refusing it when submitted. This is mildly annoying, as I have resubmit the payment after confirming with an SMS reply.

What is really annoying is the payment I make to my website hosting company via my Visa card. When I set up the account, I included a space in the post code I was using. The web host's software delimits on the space, and thus Visa refuses it because of an incorrect address. Fortunately I'm fairly friendly with the owner, and a message to him lets him sort out the payment manually. It seems they can't edit the post code, but they have to create a new account for the change of address. I'm a Gemini, and I'm thinking of registering my Alter Ego as a partner, and seeing if that can have a modified address.

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[bertiebasset]

Well the saga seems to continue. After speaking with the local branch manager yesterday I was assured my app login failures were down to the problems they are having:

Please be advised there is an ongoing issue affecting customers attempting to activate a Digital Secure Key. We are investigating this issue and hope to resolve it as soon as possible. We apologise for any inconvenience that this may cause.

However, after trying to log on using the laptop last night I discover my account is suspended. This morning I have spent yet more time on the phone and it seems the "fraud" squad should have removed this when I spoke with them on Monday. I have been 4 days without access to my account via the online app.
Having heard nothing from them about the original fraud problem I doubt I will hear anything from the about the new missive winging it's way to them.

 

[Revolvor]

bertiebasset If you had had the patience to stay on your original call, you would have saved yourself a lot of stress all would have been resolved!

 

[Deneb]

Yes, nothing wrong with online banking per se (other then HSBC being unable to accept cookies, verified user details and phone OTP the same as other banks, but also requiring the securekey in all circumstances).

The digital securekey issue is ongoing, and I can't login to online banking either. That is because I have already started a digital securekey activation (which I can't complete because of their problem) so they won't let me proceed any other way either!

 

[Wild Brambles]

The irony about HSBC is that they are reported as the bank that is most involved with money laundering and the handling of accounts for drug dealers. It also seems that they have a massive exposure to toxic derivatives. I would be cautious about leaving any substantial sum of money with them.

 

[Minxy]

We had fun and games when we opened Barclays accounts not long ago, I managed to get my online activation sorted and could look at stuff but couldn't do any transactions as I needed a secure key reader thingy which takes ages to arrive, so I went for the mobile banking app which has a digital secure key within in but despite downloading it over 20 times over 2 days (I kid you not!) it simply would NOT work with the activation code(s) I was being sent. In the end I had to do a chat and get another code for the app which eventually worked (took at least 15 mins though to go through it all). Hubby had more of an issue, he couldn't even get his basic online access to work, never mind the ruddy mobile banking app!

More calls ensued and I found out that whilst I had got my online stuff sorted on Monday, on Tuesday they had a system issue which prevented all new customers from registering for the online access and later it transpired that some faulty cards had been generated which were never gonna work so he had to wait for a new one in order to use the secure key reader! This went on for about 4 days, as it was his 'spare' account it wasn't a major issue but it wasn't great either. His secure key reader/card combination never worked so I set him up to use the mobile app, same issues as I had so yet another call to sort it out, but at least I knew what I was talking about this time so it didn't take as long.

The only good thing about all of this is that we needed to have some ID checks/confirmations done for our solicitor (to prove who we are, where we live etc) and the Post Office wanted to charge us £25.50 for us both, Barclays did it for nowt!

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[Minxy]

The irony about HSBC is that they are reported as the bank that is most involved with money laundering and the handling of accounts for drug dealers. It also seems that they have a massive exposure to toxic derivatives. I would be cautious about leaving any substantial sum of money with them.

But you still have the same protection as you do with other 'UK' banks so are covered if it goes 'bang'.

 

[Debs]

HSBC Nottingham Road, Eastwood...... very local to me.



Rant over,, done with it,, email sent to CEO and appointment made with TSB to transfer account ASAP

I've just been reading through & can see how frustrating it must be for you.

I think you can't live far from me as my nearest TSB is Eastwood & if you do decide to transfer there I can tell you they are really good to deal with (I dealt with my dad's ac there even though it wasn't his local branch) obviously it doesn't mean you might not have similar problems when making payments online.

Im sure the contractor will understand that you've had no control over what's happened.

 

[The Wino]

But you still have the same protection as you do with other 'UK' banks so are covered if it goes 'bang'.

I think the previous post meant a more substantial amount than the limit covered

 

[Langtoftlad]

Wonder what I'm doing wrong - I have mobile banking apps with 7 banks, never had much of an issue with any of them [there were a few glitches with TSB recently].
If I plan to do anything outside my normal pattern of behaviour, a simple secure message in advance adequately alerts them...

 

[Wild Brambles]

But you still have the same protection as you do with other 'UK' banks so are covered if it goes 'bang'.

That is only if the bank goes bust, but now that the law allows bail-ins, the bank can take your money to avoid going bust, and you aren't protected then. Once you deposit money in a bank account, it is their money, and not yours.

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[bertiebasset]

bertiebasset If you had had the patience to stay on your original call, you would have saved yourself a lot of stress all would have been resolved!

Just wish I had been blessed with your hindsight.

 

[bertiebasset]

Wonder what I'm doing wrong - I have mobile banking apps with 7 banks, never had much of an issue with any of them [there were a few glitches with TSB recently].
If I plan to do anything outside my normal pattern of behaviour, a simple secure message in advance adequately alerts them...

And until I had this "fraud" query I too have been online banking since Nelson was my skipper

 

[Langtoftlad]

And until I had this "fraud" query I too have been online banking since Nelson was my skipper

I've had a couple of fraud checks too - but I suppose the difference was that I responded to the bank's contact.

 

[bertiebasset]

I've had a couple of fraud checks too - but I suppose the difference was that I responded to the bank's contact.

Should it happen again to me then I too would endeavour to succumb to their demands. They ask me to have a chat over a payment I had made. I never, in my wildest dreams would have thought:
A. they would have revoked the payment without a further attempt to contact me.
B. Suspend my online account
C. Forget to re-instate my online account
It seems some are just happy to jump through the hoops that these organisations deem their right to impose on us. I do not fit into this mindset. If they wish me to discuss something that I feel is legit then I expect them to make an effort to find out the facts. They are basically covering their backsides by rushing the process because THEY may get caught out and have a customer dissatisfied with their inaction.
There.. enough said on the subject.
I hereby close this thread.

 

[Minxy]

That is only if the bank goes bust, but now that the law allows bail-ins, the bank can take your money to avoid going bust, and you aren't protected then. Once you deposit money in a bank account, it is their money, and not yours.

Can you point me to where it says that as it's something I'd like to investigate further.

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[Deneb]

Can you point me to where it says that as it's something I'd like to investigate further.

Try this:

Bail-in powers implementation

www.gov.uk

It specifically states that protected deposits (amongst several other liabilities) are excluded from the powers, and defines them as deposits covered by the Financial Services Compensation Scheme or an equivalent deposit guarantee scheme, up to the value of that scheme.

So as long as you stay within the FSCS limits, you are safe.

 

[Minxy]

Try this:

Bail-in powers implementation

www.gov.uk

It specifically states that protected deposits (amongst several other liabilities) are excluded from the powers, and defines them as deposits covered by the Financial Services Compensation Scheme or an equivalent deposit guarantee scheme, up to the value of that scheme.

So as long as you stay within the FSCS limits, you are safe.

... which is pretty much what I said originally .....!

 

[gus-lopez]

I really do NOT understand why so many people are getting het up about something which is put in place to protect US, the customers, from fraud!!!!!

That's the problem. They are inconveniencing the customers by more & more checks, info,paperwork etc;etc; but failing to address the root cause of the problem. The scum doing it.Until they start eliminating them it will continue to grow.

Having heard nothing from them about the original fraud problem I doubt I will hear anything from the about the new missive winging it's way to them.

To protect your sanity ,
Just remember that when using any of there "online reporting systems" even one in ny email , cut & paste before clicking send. I found to my cost that of 4 different ways of complaining to them 3 did not work & just deleted the complete post & returned you to the start. A bit like the Ryanair system

If I plan to do anything outside my normal pattern of behaviour, a simple secure message in advance adequately alerts them...

With the hsbc even my telephone banking data doesn't work, has never worked, doesn't work even when they do it whilst I'm online. They've tried it , the fraud office have, my banking adjudicator , when I made the complaints,; etc; no one can fathom out why it won't work?

The best they came up with was that it was because I was using voip when attempting to access it & the minute delay could be the problem. Until I pointed out that it wasn't working for them, sat in the office on the actual system?
So why should I trust them with any type of message 'in advance' when to do that requires me to use the online system which then tells me to ring the "internet helpline" but it isn't it is telephone banking ,who then lock me out until I wait for someone to answer the phone & it to be reset, ?
More than 20+ years this has been like it. At one time they ,along with other banks, wanted me to "let them know dates of holidays & use of cards abroad" Really??? I might as well put a sign on the door " gone away". They got quite funny when I stated that.

 

[Minxy]

That's the problem. They are inconveniencing the customers by more & more checks, info,paperwork etc;etc; but failing to address the root cause of the problem. The scum doing it.Until they start eliminating them it will continue to grow.

The banks trying to mitigate the situation by putting in additional security checks to try to prevent this happening and protect the customer but, in your view, in order not to inconvenience customers they should let them take the risk of their funds being transferred illegally until the 'root cause' is sorted? Whilst I agree it needs more doing to try to prevent it happening in the first place it ain't gonna work totally as there will always be scroats wanting to nick people's dosh regardless of what the banks do so it will always occur one way or another but to suggest that a bit of inconvenience due to the additional checks is wrong is just plain daft IMV.

More than 20+ years this has been like it. At one time they ,along with other banks, wanted me to "let them know dates of holidays & use of cards abroad" Really??? I might as well put a sign on the door " gone away". They got quite funny when I stated that.

Again IMV you're missing the point ... it is there to protect US from fraudulent use ... we tell our banks and credit cards (for any accounts that we may use when away). This was definitely beneficial as it meant that when our card was used in a country we were NOT visiting they flagged it up and prevented it going through ... I think it was for a load of stuff off Amazon. We have a suspicion where the details were illegally obtained but of course couldn't prove anything.

 

[gus-lopez]

Again IMV you're missing the point ... it is there to protect US from fraudulent use ... we tell our banks and credit cards (for any accounts that we may use when away).

My view is that if the person I'm telling is less than honest the house would have been broken in to whilst we were away. the only place I use any UK cards is when I am away.-------------------------------in the UK. They are never used when I am at home in Spain,or when travelling, as I have spanish accounts.

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[Minxy]

My view is that if the person I'm telling is less than honest the house would have been broken in to whilst we were away. the only place I use any UK cards is when I am away.-------------------------------in the UK. They are never used when I am at home in Spain,or when travelling, as I have spanish accounts.

That's not much use to those of us who only have UK ones though is it!

 

[Langtoftlad]

Seems like TSB are having even more IT troubles:

TSB customers hit by payments delay

 

[Deneb]

Seems like TSB are having even more IT troubles:

TSB customers hit by payments delay

They all seem to have problems from time to time. That's one of the reasons why I have accounts with several different banks

 

[gus-lopez]

They all seem to have problems from time to time. That's one of the reasons why I have accounts with several different banks

That's why cash is king & always will be.

 

[The Dudess]

Whenever we have made a major purchase (new car, motorhome, new driveway, new boiler) we have always rung our bank beforehand to alert them to the fact that a big transfer/payment will be hitting our account. Never had a problem so far - we bank with First Direct and consider them to be the best.

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