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  • FIRST POST
    • krrcwl
    • By krrcwl 12th Jun 17, 1:58 PM
    • 10Posts
    • 3Thanks
    krrcwl
    TSB Classic Plus application - *warning*
    • #1
    • 12th Jun 17, 1:58 PM
    TSB Classic Plus application - *warning* 12th Jun 17 at 1:58 PM
    After seeing the MSE deal (on the MSE compare-best-bank-accounts page - can't post a link, not allowed apparently) for the TSB Classic Plus account in the regular Money Tips email, I decided to switch one of my accounts to it. I checked all the conditions highlighted on the MSE summary, and on the 26th May went ahead with the online application, via the correct link, and everything was good, and I had a sort code and account number to begin organising automatic payments from other accounts, etc. A couple of days later I started the switch process from my existing account.

    Over the next few days, I noticed that I hadn't receive any notifications about the progress of this, and eventually (on 2nd June) I received a letter saying that, after subsequent checks, my account (and any other accounts I happened to hold with TSB) would be closed, with no indication about what this issue might be. A couple of days later, I phoned to attempt to find out what had gone wrong, but I was told that I couldn't be told this because of "data protection", despite it being my data*.

    While it wasn't mentioned explicitly, it became obvious that a credit check had been carried out, and was most likely the reason for the rejection. I was then told that they 'were obliged' to do a credit check for people opening any account with them - surely this is bank policy rather than any legal prerogative, an ID check yes, but not a credit check, I was not asking for credit (no overdraft requested). I explained that at no point in the online application process was this mentioned, because if it had, I would not have bothered to carry on (apparently, it was buried somewhere in the T&Cs that no-one ever reads.) And then, why wasn't the credit check done up front at the time of application? This requires manual processing at TSB, despite the fact that most other banks manage to do it automatically. I wasted my time setting things up elsewhere which I now have to revert.


    Anyway, my warning is this - if you have a less than average credit rating, it is unlikely that you'll be accepted, and furthermore, you won't know you've been rejected for about a week.



    * I wonder if a FOI request is in order!
Page 2
    • shortcrust
    • By shortcrust 13th Jun 17, 6:01 PM
    • 1,324 Posts
    • 1,726 Thanks
    shortcrust
    Isn't it outrageous that I wasn't accepted for a banking product?!

    No. It's not.
    • Shakin Steve
    • By Shakin Steve 13th Jun 17, 7:15 PM
    • 936 Posts
    • 665 Thanks
    Shakin Steve
    Thats simply not true - the card can be set to always go online (even with contactless transactions) otherwise Nationwide FlexBasic and pre-pay issuers wouldn't offer the facility.

    Reading between the lines, the OP actually has an issue with being accepted then declined.

    I had a similar experience (with TSB) whereby they opened the account, then froze it, pending paper ID. As it had funds, I was basically forced to take an afternoon off work to go into a branch. Luckily, I was able to terminate my account switch though.
    Originally posted by Heng Leng
    OK. Then how can people who steal/find contactless cards use them even after the loss has been notified?
    I came into this world with nothing and I've got most of it left.
    • Heng Leng
    • By Heng Leng 14th Jun 17, 12:16 AM
    • 4,100 Posts
    • 1,254 Thanks
    Heng Leng
    OK. Then how can people who steal/find contactless cards use them even after the loss has been notified?
    Originally posted by Shakin Steve
    You'll find they are offline cards - their contactless is correspondingly (usually) offline hence lack of checking...
    • isasmurf
    • By isasmurf 14th Jun 17, 7:10 AM
    • 1,718 Posts
    • 738 Thanks
    isasmurf
    You'll find they are offline cards - their contactless is correspondingly (usually) offline hence lack of checking...
    Originally posted by Heng Leng
    There's no such thing as offline and online cards. It is the transaction that is offline. Some retailers, for example TfL, process contactless payments in batches instead of in realtime. It is the retailers decision as to whether the transaction is to be offline. There is a limit for the combined value of offline transactions where when reached it will force the transaction to be online to stop the card being endlessly used in offline transactions.
    • PROLIANT
    • By PROLIANT 14th Jun 17, 8:47 AM
    • 6,014 Posts
    • 5,563 Thanks
    PROLIANT
    There's no such thing as offline and online cards. It is the transaction that is offline. Some retailers, for example TfL, process contactless payments in batches instead of in realtime. It is the retailers decision as to whether the transaction is to be offline. There is a limit for the combined value of offline transactions where when reached it will force the transaction to be online to stop the card being endlessly used in offline transactions.
    Originally posted by isasmurf
    Visa Electron, in the good old days and some Visa debit cards now are online only.
    They have this data coded in to the chip and mag strip for basic bank accounts that come with a Visa debit card have to be authorised - this is why you can't have a contactless card on a basic account.

    Contactless assumes you could ping the card say five times to the £30 limit and if you did not have cleared funds that would put you £150 in the red - violating the terms of an account which has strictly no credit facilities.

    If I am mistaken then I stand to be corrected.
    Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.
    • Heng Leng
    • By Heng Leng 14th Jun 17, 9:14 PM
    • 4,100 Posts
    • 1,254 Thanks
    Heng Leng
    There's no such thing as offline and online cards. It is the transaction that is offline. Some retailers, for example TfL, process contactless payments in batches instead of in realtime. It is the retailers decision as to whether the transaction is to be offline. There is a limit for the combined value of offline transactions where when reached it will force the transaction to be online to stop the card being endlessly used in offline transactions.
    Originally posted by isasmurf
    Here comes the science bit, concentrate!
    • With a standard (offline) card, the merchant can choose to process lowish value transactions offline - be they chip n pin or contactless.
    • With an online card, the merchant is instructed to check each and every transaction (including contactless) with the card issuer. If it doesn't then the card issuer doesn't have to honour the payment.
    Maybe things work differently in Smurfland?
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