This board needs a sticky with obvious answers

slopemaster

Q Should I open a Santander account to get £100 and 5% interest

A No, run a mile!!!

crayola

The fact that we've identified about 50 'obvious' questions and answers here is reason enough not to lump them in one lengthy and convoluted guide for 'idiots'.

Every circumstance is different and not everyone has spent their life obsessed with managing money. This board is full of people who are willing and able to be helpful on such matters so other than the really basic stuff, I don't see any reason why (a) people should feel bad asking questions that apply to them and (b) why you feel it would be helpful or indeed possible to replace every question with an FAQ. The point of the internet is that it is interactive.

zppp

crayola wrote: »

The fact that we've identified about 50 'obvious' questions and answers here is reason enough not to lump them in one lengthy and convoluted guide for 'idiots'.

Every circumstance is different and not everyone has spent their life obsessed with managing money. This board is full of people who are willing and able to be helpful on such matters so other than the really basic stuff, I don't see any reason why (a) people should feel bad asking questions that apply to them and (b) why you feel it would be helpful or indeed possible to replace every question with an FAQ. The point of the internet is that it is interactive.

In fairness to MSE, this is designed as a quick reference guide, for people that need urgent advice. It is not designed to make people feel bad about posting, it is here as an additional resource, for when forum members are offline (most likely in early hours of morning)

Pastychucker

This question about money appearing in your account and you are saying NO! you can't spend it - why is that? I'm interested because I have accidently paid someone I don't even know because I entered details on an online payment wrongly. Some stranger has £120 of my money and I have no idea how to get it back. My bank (Santander) and their bank (Natwest) are both saying that the other one should claim back the money.

pmduk

Pastychucker wrote: »

This question about money appearing in your account and you are saying NO! you can't spend it - why is that? I'm interested because I have accidently paid someone I don't even know because I entered details on an online payment wrongly. Some stranger has £120 of my money and I have no idea how to get it back. My bank (Santander) and their bank (Natwest) are both saying that the other one should claim back the money.

You can't spend it because it isn't yours and could ultimately be construed as theft. As you've been told elsewhere, you need to complain to Santander about their refusal to assist you in this.

MoneySaverLog

Pastychucker wrote: »

This question about money appearing in your account and you are saying NO! you can't spend it - why is that? I'm interested because I have accidently paid someone I don't even know because I entered details on an online payment wrongly. Some stranger has £120 of my money and I have no idea how to get it back. My bank (Santander) and their bank (Natwest) are both saying that the other one should claim back the money.

If you have accidently paid someone then surely you should have to claim it back. Why would Natwest claim it back if that's where the money went to. It's down to Santander to claim surely. Good luck with that.

alanq

" A payment has been made to the wrong account, what should I do?

Payments are made in the UK using a sort code and account number.
If you provide the wrong sort code or account number, your bank must make a reasonable effort to recover the money (and may a charge for doing so). However, it will not be liable for any losses you suffer.

If your bank made the mistake and sent money to the wrong account it must refund the amount of the payment to your account plus any charges or interest you pay as a result."
http://www.fsa.gov.uk/pages/consumerinformation/product_news/banking/know_your_rights/solving/index.shtml#4


I have yet to find a procedure for when a bank's idea of a "reasonable" effort differs from that of a customer.
It is a crime to keep money knowing it is not yours. If a customer error is spotted Data Protection is invoked to stop the customer knowing who to sue or prosecute to recover the money. There have also been cases reported in these forums of people finding unexpected funds in their accounts, wanting to return it to its rightful owner and the banks not wanting to know.

alanq

Bank Accounts: Know your rights. FSA's answers to some FAQs.

http://www.fsa.gov.uk/pubs/consumer_info/know_your_rights_guide.pdf

Ryanc0llins

transfers dont take 3 working days anymore, most banks in the uk now use fps (faster payment service) so its effective to your balance immediatly - 9/10 times the funds are in the third party account immediatly aswell but may take up to 2 hours max

Chrisblue1962

" Q: My bank's telephone banking service is an 0845 or 0870 number. Is there any way I could make this cheaper for me?
A: Look on the back of your debit card. Often there will be a "From abroad" number, starting +44. If you knock off the +44 and add a 0, it becomes a standard British telephone number, and therefore can be dialled as part of any call package you might have. Alternatively, you can use http://www.saynoto0870.com. "

Thanks for that, will save me money if I have to phone bank