Lloyds TSB the worst ever bank

cashcoward

In today's conditions, "worst bank ever!" is a hard description to live up to but it is a natural if OTT reaction.

However, as a long-time user of Lloyds TSB Internet banking, I share the irritation at its total failure to implement Faster Payments even for trivial online transfers out. And yes, it DOES take four days as LTSB does not start the BACS three day cycle until the day after an "immediate" transfer is instructed.

Finally, I too had the very unpleasant experience of a CHAPS transfer failing. Having visited my branch in the morning with identification etc to set up the transfer, it did not happen because the value involved required the branch manager to approve it and she was out of the office until after the day's cut-off time for the transfer to be made. This was a transfer to a solicitor as part-payment for a house purchase and you can maybe guess how I felt about LTSB that day. Admittedly, they paid £75 compensation for my inconvenience but, if I hadn't built a 24 hour contingency buffer into my own timetable, £75 would not have come near compensating for the resulting situation.

savetilibleed

As this thread is including FP by LTSB, perhaps I can include my post in the "Faster payments - who can send and receive" thread as it is relevant.

autopetfeeder

unhealthyman wrote: »

Stop whinging you big baby, no one cares. One anecdotal story of a slight delay in transferring money because of security and regulations does not make for the 'worst bank ever'. If someone had used a fast transfer to steal £10000 from you, then you wouldn't be complaining about excessive security measures.

I think its interesting that people are more unkind to the OP who was naturally annoyed at his poor treatment. It probably doesn't make it the "worst bank ever", but comments like the above are far more aggresive and personal IMO.....

sheslookinhot

mike22 wrote: »

I tried to make online transfer and after I made the transfer, they put this transfer "under review".

So, I called them asking why, then asked to make a transfer via Faster Payment ( as they only provide it on the phone), and when I told him to make £10K transfer, the customer service said, Faster Payment cannot be done on such amount.

Today, I went to local branch to complain, and make the transfer via CHAPS, and guess what, the transfer did not go though.

What a worthless bank.

What shall I do now?

:rolleyes:

savetilibleed

I set a payment of £700 into my ING account online today. It indicates it will go on 8/3/09 (Sunday?). So I decided to phone to see if £700 could instead go by faster payments. I was told the limit "today" was £500 . I couldn't believe it only being £500. So I have left the payment as it is. Has anyone else found the limit as small as this? And apparently it to vary?

naijapower

Me thinks it varies from bank to bank. I don't want to over criticise the banks on this cos faster payment is still fairly new, hence there are bound to be glitches

cashcoward

It's all well and good not wanting to criticise because it's new but this system was supposedly "launched" more than six months ago. In most organisations, it is normal to test systems before they are implemented, not after. In the case of Lloyds, Faster Payments (in my opinion) is not a system but a lottery.

soulsaver

savetilibleed wrote: »

I set a payment of £700 into my ING account online today. It indicates it will go on 8/3/09 (Sunday?). So I decided to phone to see if £700 could instead go by faster payments. I was told the limit "today" was £500 . I couldn't believe it only being £500. So I have left the payment as it is. Has anyone else found the limit as small as this? And apparently it to vary?

All over the show & rules changing with Halifax, too.
I always seem to get FP from First Direct with no prob (£10k limit) when the destination bank can receive FP... but not all can yet.