Kaupthing - how long to set up?

BB01539

ulysses76 wrote: »

I tried to transfer money from my TSB account into Kaupthing & was told by TSB that a BACS transfer could only be done if I provided a printed giro cheque form, otherwise I had to do a CHAPS transfer costing me £25.I am now having to route money from TSB to Kaupthing via my Sainsbury Internet saver.:mad:

My account took a couple of days to set up. I have my account linked to a TSB account and I set up my BACs Online. I had no problems at all. Money transferred out of TSB into Kaupthing with no probs.

genny

BB01539 wrote: »

My account took a couple of days to set up. I have my account linked to a TSB account and I set up my BACs Online. I had no problems at all. Money transferred out of TSB into Kaupthing with no probs.

Ditto. Setup it up all online, worked first time. I've set many BACS transfers up from my LTSB account with no hassle at all.

ulysses76 all you need is the account number and sort code (provided by Kaupthing) to transfer money from your LTSB account. It's simple, and if you use online banking, it's even easier,m just add the Kaupthing account as a recipent.

exel1966

ulysses76 wrote: »

I tried to transfer money from my TSB account into Kaupthing & was told by TSB that a BACS transfer could only be done if I provided a printed giro cheque form, otherwise I had to do a CHAPS transfer costing me £25.I am now having to route money from TSB to Kaupthing via my Sainsbury Internet saver.:mad:

Assuming you are trying to transfer from a current account then you've either misunderstood what Lloyds has told you or you've been mis-advised by the CSA.

ulysses76

Maybe that's the problem.My TSB account is all done at the bank itself.
i.e. I dont have it online.
I gave the TSB sort codes for both BACS & CHAPS transfers to Kaupthing & neither worked.
They said it had to do with Kaupthing being a foreign bank.
What I 've had to do is get the TSB to transfer to Sainsburys & then i will transfer to Kaupthing from there.
:eek:

dag_2

Maybe that's the problem.My TSB account is all done at the bank itself.
i.e. I dont have it online.
I gave the TSB sort codes for both BACS & CHAPS transfers to Kaupthing & neither worked.
They said it had to do with Kaupthing being a foreign bank.
What I 've had to do is get the TSB to transfer to Sainsburys & then i will transfer to Kaupthing from there.

Can I ask two things?

Firstly - how are you transferring money from your Lloyds TSB account to your Sainsbury's account?

Secondly - have you tried registering for internet banking with Lloyds TSB? My understanding is that it's possible to add any Lloyds TSB account in your own name to a Lloyds TSB internet banking registration, including basic bank accounts that are for benefits and pensions only, but I could be wrong. In other words, if you've got more than one account with Lloyds TSB, it doesn't matter, you can use the same login to get access to all of them.

Just go to http://www.lloydstsb.com and click "Register now" and fill in the form, it'll probably help if you have a recent statement to hand.

ulysses76

Sainsburys issued me with a giro credit cheque book for paying in money.
I filled in one of these slips & presented it at the TSB.

Funnily enough, i have always been wary of having my main account as an internet access one.
I don't like the idea of the account where all my monthly incomings & outgoings being internet accesible, terrified of "phishing".
The Sainsburys one is only ever used for savings going in & that is sometimes only 1 transaction every 3 or 4 months.

jem16

ulysses76 wrote: »

I don't like the idea of the account where all my monthly incomings & outgoings being internet accesible, terrified of "phishing".

Just follow some simple rules and phishing won't concern you.

1. Never click on links to your internet login - always go to the bank's home page by typing it into the address bar or via Favourites that you have set up.

2. Take no notice of emails asking you to verify your account details - banks don't do this.

dag_2

I don't like the idea of the account where all my monthly incomings & outgoings being internet accesible, terrified of "phishing".

Yeah I agree with jem. Not having internet banking activated for current accounts doesn't stop you being at risk of phishing. Whether or not you're at risk of phishing has got nothing to do with how many or how few transactions you conduct.

However, there is a very easy and straightforward way thay you can eliminate the risk of being a victim of phishing. And that is, never ever respond to any incoming email or phone call by giving details about yourself or any of your bank accounts, including savings accounts, no matter how much it looks like that email or phone call might have come from your bank.

Of course, that's not to say that phishing is the only risk of internet banking, or even banking in general. But here's the way I look at it; if you don't set up internet banking on your account yourself, then how do you know that someone else hasn't set up internet banking on your account by passing themselves off as you?

That's the reason why a lot of internet banking facilities tell you the date and time of the most recent previous log-in each time you make a new log-in.

To be honest, I think your belief that savings accounts are somehow less at risk of phishing, or any other type of customer-side security risk, than current accounts is slightly worrying. Even if it was true (which it isn't), I'm not convinced that you're mitigating the risks in the right way.

But hey, don't take my word for it. Chances are, one or more of your banks will have either a leaflet or something on its website about internet banking security, which will give you a checklist of things to do to make sure your info is as secure as possible. If you check all three of them, you'll probably notice that the security advice from them all is mostly the same.

http://www.lloydstsb.com/security.asp?link=side_navigation
http://www.sainsburysbank.co.uk/savings/info_security_main.shtml
http://www.kaupthingedge.co.uk/help/account-security.aspx

Of course, this advice only deals with customer-side security risks. There's not a lot you can do to prevent bank-side security risks. Not registering for internet banking certainly won't prevent your bank from accidentally dropping your account details off the back of a lorry one day. However, you're likely to notice fraud much more quickly if you're using internet banking to check things more frequently.

Hope that helps.

ulysses76

Thanks for all that, i will set up my TSB online, but be very careful as per your recommendations

cheekykid

Where do I choose if i want to do a chaps or bacs tranfers? Am with lloyds tsb and i cant see this option on my online account.