Internet banking that doesn't work

dragonladywendy

Hiya folks,

If anyone has had this problem, or knows how to combat it please let me know!

I have an account with Barclays (Iknow not that good!!) which I use via the internet and have done for nearly 2 years now.

I have an account with Studio cards that i pay using my internet bank which i have done for nearly a year now.

The problem - Studio are telling me that they are not recieving my payments. When i phone Barclays to see if the money has left my acc, they are great as they do traces on the money and let me know that Studio have the money.

When i phone studio back up, they say that the money can take up to 8 WEEKS to clear in their holding account before it clears on my statement. Therefore, i keep incurring administration charges as the payments are then late!! >:(

This has happened once so far, in early november, and now i have just been informed that it has happened again. Getting very annoyed

Barclays have informed me that on their records, studio have stated that all monies recieved will be cleared within 10 working days!

So why am I being fobbed off all the time and incurring charges monthly ???

Please can someone explain this to me

Ta Wendy

Reaper

The fault sounds entirely due to Studio. It does NOT take 8 weeks to clear funds. It takes 3-5 days. If Studio take a long time to apply the money that is their problem. They have had the cash and been earning interest on it just days after you sent it. When they apply it the money ought to be backdated to the date they received it removing those charges.

I did a quick search on Google and found many people upset at their customer service.

dragonladywendy

Dearest Reaper

Many thanks for your response, I didn't know you could check up on Company's customer service - very interesting reading!!

Rang Studio today and they say they still haven't recieved the money, now been 9 working days!!

When I get my January statement, it is being paid off and the account closed, not putting up with this rubbish any longer :-/

Quite new to Martin's moneysaving ideas, and believe me this mail order is not one of them!!

Cheers again for your response

deemy2004

Tell them you want all your charges refunded or you'l complain to the banking ombundsman as the norm is 3 - 4 working days not 8 weeks !

dragonladywendy

Many thanks Deemy2004

I think I might actually do that as I am so angry with the Company, I'm not thinking very straight about the whole issue!

I'll ring again today to see if the money has cleared from my acc. Apparently they have had the money since the 29th Nov ??? They just don't seem to want to clear my acc. and think this is a good way for them to make extra money with admin charges!!!!!

Wish me luck

YorkshireBoy

Sorry to bring more bad news, but a similar thing happened to my wife when she used to run an Xmas saving club. She regularly incurred admin fees due to the issues you raised above.

She terminated her relationship with the company, and we thought nothing more of it until we had some problems 5 years later when re-mortgaging. The BS did a credit search with Equifax and it through up irregularities in the handling of my wifes account all those years ago.

We were lucky to be able to get the mortgage - the BS said it was only due to my unblemished record that they were able to lend us the money!

Might be worth checking with Equifax and/or Experian to make sure the same won't happen to you.

Good Luck