cancel
Showing results for 
Search instead for 
Did you mean: 

Banks and modern Technology.

Community Veteran
Posts: 7,914
Thanks: 594
Fixes: 8
Registered: 02-08-2007

Banks and modern Technology.

Months ago I tried to close an online bank account but following a telephone conversation with them it was sorry you have to write in to close the account, so having transferred what was in that account to another bank and leaving a few pounds in the account I wrote in requesting to close the account and included my sort code and account number where I wanted the balance transferred to.
Guess what, letter arrives confirming the account is closed with a Cheque for the balance, £2.72
Banks want us to use modern technology but do not seem to want to do it themselves.
13 REPLIES
Community Veteran
Posts: 13,923
Thanks: 514
Fixes: 7
Registered: 01-08-2007

Re: Banks and modern Technology.

We all know banks can't be trusted with technology - it's that simple.
Weirdly they always manage to use it to their advantage by processing SOs and DDs just before you've been paid - racking up more charges.
I need a new signature... i'm bored of the old one!
Moderator
Moderator
Posts: 16,555
Thanks: 1,800
Fixes: 125
Registered: 06-04-2007

Re: Banks and modern Technology.

@7up
It's been many years since I have had such a problem. Any SOs or DDs due on weekends or bank holidays have always been processed the next working day after and any payments due have been received the day before the weekend/bank holiday.

Forum Moderator and Customer
Courage is resistance to fear, mastery of fear, not absence of fear - Mark Twain
He who feared he would not succeed sat still

Community Veteran
Posts: 13,923
Thanks: 514
Fixes: 7
Registered: 01-08-2007

Re: Banks and modern Technology.

I must admit in that respect i've been very lucky but i've known so many people who have been had by their banks processing SOs and DDs early - before they've been paid. My old neighbours used to get it happen repeatedly - every 2 or 3 months.
I took a smarter precaution... I used to set up all my SOs and DDs for around a week after payday - that way the banks couldn't really have me  Cheesy
On the subject of banks being a menace though, has anyone ever been given free money by the bank in regards to a complaint? - I've had it happen twice. Grumbled at two different banks and been paid off to go away and shut up twice. One amount was twenty quid - not earth shattering but still a small treat and the other was a whopping £50 - I couldn't believe me luck!
I need a new signature... i'm bored of the old one!
Moderator
Moderator
Posts: 16,555
Thanks: 1,800
Fixes: 125
Registered: 06-04-2007

Re: Banks and modern Technology.

Quote from: 7up
On the subject of banks being a menace though, has anyone ever been given free money by the bank in regards to a complaint? - I've had it happen twice. Grumbled at two different banks and been paid off to go away and shut up twice. One amount was twenty quid - not earth shattering but still a small treat and the other was a whopping £50 - I couldn't believe me luck!

Over the last 18 months or so I must gave got around £500/600 in ex-gratia payments from different banks after complaining to them. I think the largest single payment was £250 (Barclays) after they took 4 months to resolve an issue Cool

Forum Moderator and Customer
Courage is resistance to fear, mastery of fear, not absence of fear - Mark Twain
He who feared he would not succeed sat still

Community Veteran
Posts: 13,923
Thanks: 514
Fixes: 7
Registered: 01-08-2007

Re: Banks and modern Technology.

Shocked
You lucky ***!!!
I need a new signature... i'm bored of the old one!
Community Veteran
Posts: 1,100
Registered: 05-04-2007

Re: Banks and modern Technology.

I have never known any SO or DD be paid early by the bank. I have known business's claim on a DD early which means that by default the payment leaves the account early.
As to compensation, it does vary a lot and some people seem to use is as another income stream. The sign of any form of error, even at their own making, they are asking for financial compensation.
Moderator
Moderator
Posts: 16,555
Thanks: 1,800
Fixes: 125
Registered: 06-04-2007

Re: Banks and modern Technology.

For the record I have never asked for compensation... I find that patience and openness brings its own rewards  Wink
Usually a conversation ends with something like "I would like to put £x into you account by way of apology" or "Is it OK if I put £x in your account by way of apology?". Hardly likely to say no, am I Smiley

Forum Moderator and Customer
Courage is resistance to fear, mastery of fear, not absence of fear - Mark Twain
He who feared he would not succeed sat still

Community Veteran
Posts: 1,145
Thanks: 139
Fixes: 26
Registered: 13-08-2015

Re: Banks and modern Technology.

Going back to the OP's point, you would not believe the hoops that Banks have to go through to "comply" with the regulators, so its not too surprising the easy way round is to write to them, and to get a cheque to settle the account.
Community Veteran
Posts: 1,100
Registered: 05-04-2007

Re: Banks and modern Technology.

In which case Mav you are one of the good customers Smiley. Having been both sides of the fence, I found it a great insight .
Community Veteran
Posts: 4,596
Thanks: 751
Fixes: 3
Registered: 06-11-2014

Re: Banks and modern Technology.

I've noted with my bank that DDs and SOs go out at pretty much dead on midnight, and payments into my account about 25 minutes later, thus if for some reason I mess up and don't have funds on hand when they send the money out when I've money due in at the same time, they tried to charge me for going overdrawn for 25 minutes, they took note of my complaints it seems, as they haven't tried charging me for a while for that... Grin
Community Veteran
Posts: 1,100
Registered: 05-04-2007

Re: Banks and modern Technology.

Now that doesn't surprise as the SO & DD payments are for the day before and the credits are for the day after, although with faster payments everything changed for the BACS process. DDs still work the same as far as I understand.
Infinity
Pro
Posts: 5,601
Thanks: 148
Fixes: 2
Registered: 19-06-2011

Re: Banks and modern Technology.

Quote from: Mav
Quote from: 7up
On the subject of banks being a menace though, has anyone ever been given free money by the bank in regards to a complaint? - I've had it happen twice. Grumbled at two different banks and been paid off to go away and shut up twice. One amount was twenty quid - not earth shattering but still a small treat and the other was a whopping £50 - I couldn't believe me luck!

Over the last 18 months or so I must gave got around £500/600 in ex-gratia payments from different banks after complaining to them. I think the largest single payment was £250 (Barclays) after they took 4 months to resolve an issue Cool

Earlier this year, First Direct sent me a large Food Hamper..........
The reason FD sent me the Hamper, I raised a query with them a while back, pointing out  a Systems / Software problem within their Bank.
Totally unexpected "Thank You"
http://community.plus.net/forum/index.php/topic,139658.0.html
itsme
Grafter
Posts: 5,924
Thanks: 1
Registered: 07-04-2007

Re: Banks and modern Technology.

I use to get paid on the last day of the month and the mortgage payment use to go out on the last day of the month. Everything was fine for a few years but for some reason I had to do a change to the direct debit and this was in February so the last day is the 28th. For several months no problem was seen because either the 28th fall on the weekend and the DD payment went out on the following Monday, or the last day of the weekend fall on the weekend and my pay would hit my account on the Friday.
But when both the 28th and the last day of the month fall in the week than the mortgage payment went out before I got paid. At the time I did not know why the mortgage payment was going out before I got paid until I went into the branch to complain and I was informed of the change I made in February. So if you want payments to go out on the last day of the month date them for the 31st irrespective of the number of days for the month.