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Sainsburys Bank Problems
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:mad: :mad: :mad: :mad: :mad:
Arrggghhhh.
It just keeps getting worse.
I requested that the funds be returned to me, as I couldn't wait around waiting for them to authorise me (been 5 weeks already). Today, they finally authorised my account.......
.............
.............
.......and then proceeded to close it and return the funds to me. :eek:
I phoned to ask them to keep the account open if it had been authorised, but they said it was already closed, and I'd have to re-apply and go through the whole process again.
Sainsburys... good at veg, !!!!!! at banking.
:rotfl: :rotfl: :rotfl: :rotfl: :T :T :T
God give me strength.0 -
Mmm. To be fair you did ask them to close your account... and they did. The person authorising the account would not necessarily have been the person who closed your account so the actions taken are understandable. I think you were a little unlucky with the validation - but you should have been able to invest money for most of those 5 weeks. The problem you would have had was that you couldn't withdrawn online until it was authorised....which for people like me wouldn't have been a problem as I am lumping money in for savings - no real need to withdraw money so soon after putting it in. If you need the money that quickly you may be better with a high paying current account like the Alliance & Leicester one.... assuming you don't need more than £2500 quickly together with a savings account you don't touch quite so often ICICI/IceSave/Sainsbury's. Hopefully for the rest of us your example was an rarity. I wouldn't think they would need proof of ID if you applied again though.0
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I am another one of the happy Sainsbury's customers
Noobie (not so
) trying to make loads a dosh - please bear with all my questions :beer: Thanks 0 -
Getting to the bottom of this problem now.............
I found out on this site that Sainsburys bank is part of the Halifax group. I have a Halifax bank account.
I called them to ask why they can't verify my account against my Halifax account, and they said that they could. After looking into the matter, the reason they couldn't verify my details originally was because somebody at Sainsbury's bank had CROSSED OUT my address on the application, and put in SOMEBODY ELSE'S address on it.
A clerical error by Sainsbury's it seems.
Just got to wait for 7 days for the account to become active now.
What a saga !!!!!0 -
I had no problem recently with Sainsburys. Applied on the Wednesday online and my authorisation came through 5 working days later. I transfer funds into it from my online bank account and set that bank up with Sainsburys to transfer funds back, complete doddleLiquidity is when you look at your investment portfolio and **** your pants0
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I have successfully opened a Sainsbury Account and have transferred money in. My question is how do I set up payments out? I can get into the mandate section but there doesn't seem to be any way that I can see to set up the mandates.0
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Malachi_Constant wrote: »
So I agree steer clear of the Sainsbury Internet Saver. Icesave and Hisave have their act together. If you're worried by foreign banks, both have the UK banking guarantee of 90% of deposits up to £35K.
I opened an internet saver last week on recommendation of a certain person's website ...activated it, set details, transferred funds...but subsequently was denied access. I rang the helpdesk tonight, got a new activation code, set new security details ...and again was told details did not match ...and denied access. OK I can accept I may have made a mistake the first time ..forgetting a detail ...but twice? I then tried to email them ...request denied. So Sainsburys have got my money yet I cannot access my account. Brilliant!!! Not impressed.0 -
Regarding the general question of ID requirements, I may be wrong, but I believe there are two methods of verifying your identity when opening a new account.
1 - doing an electronic check which basically looks at your credit record but doesn't actually do a credit check - it checks if your name and date of birth is known at the address you are applying for
2 - asking you to provide proof of id (passport or driving licence) and proofs of address (eg bank or credit card statements, utility bills etc)
Even when you an existing halifax customer applying for a new halifax account, they still identity check you, and they ask for you to provide the documentation.
As this is Sainsbury's bank I would guess they go via option 2.
If driving licence is used as proof of anything, any organisation will always need both parts.Indecision is the key to flexibility0 -
Malachi_Constant wrote: »Dear "the_gooner" I'm afraid you are you are only just starting with your problems with the Sainsbury Internet Saver.
After the ID stage it took me three weeks and several phone calls to get the account running.
Then there is paying in. With most sensible internet banks you set up a linked high street current account for electronic transfers in and out. It is easy, fast and pretty secure. But not the Sainsbury Bank.
Their preferred method for deposits is by posting a cheque together with a slip from their pay-in book.
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Not true. I've transferred sizeable amounts backwards and forwards via the Internet (to and from my linked bank account) with absolutely no trouble. The money is clearly visible in my account when I log in to my Sainsbury's account.
It did take them a long time to 'verify' my application, and it only happened after several irritable phone calls, but that is my only gripe with the account so far. I wasn't asked to send in any ID.0 -
Regarding the general question of ID requirements, I may be wrong, but I believe there are two methods of verifying your identity when opening a new account.
1 - doing an electronic check which basically looks at your credit record but doesn't actually do a credit check - it checks if your name and date of birth is known at the address you are applying for
Yes, they do a money laundering check. This would show on your credit report from Experian.0
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