This board needs a sticky with obvious answers

steady__eddie

Q) Why do my bank keep marketing to me?

A) Because you haven't asked them to stop!!! Just go see a PB and tell them you want to be excluded from all marketing. They have to do it But you have to ask

A very helpful piece of advise as I am begining to start burning on a shorter fuse every time that I am asked "Have you opened an ISA yet this year ?". Yesterday I popped into my bank I won't name them but I only use them for the journey, and requested that I did not want to receive any more in branch marketing. Fingers started typing and eventually "computer says yes". I was informed that in future when I made an in branch transaction A message would tell the cashier that I did not wish to be sold anything.
Later on in the day, I decided to fund a recently launched online saver which I had opened a few days previously. After entering the details, receiving the automated 'phone call, entering the pin shown on screen etc. I was informed that I had been successful and could now transfer funds. When I tried to do this, "computer says no, dial 0845 xxxx xxx or visit a branch" I chose the latter, they rang 0845 xxxx xxx. The upshot is that I am unable to use internet banking to transfer funds out of my a/cs because I have a "marker" placed against them :eek:. The people at internet banking could not divulge what this "marker" was because they did not have access to my records and I would have to enquire in branch. This I did and eventually I was told that the "marker" was my request to stop in branch marketing :mad:
The options then has I see them are to suffer marketing and enjoy full internet banking, have a stress free visit to a branch and be limited to what I can do online or vote with my feet, which is what I have just done.

dippe2001

Can someone pls help me with this ?

A marker has been put on my lloyds tsp current account by Cdr Data quality team, I owe nothing with lloyds and have no credit facility with thEm But I am unable to get an overdraft bcos Cdr have a data against my name.

I have been trying to get rid of this data but to no avail ! l

My branch can't even help and they are denying any knowledge whereby Cdr data team is part of lloyds tsp collections :mad:

I need Help plssss

Dr_Cuckoo3

dippe2001 wrote: »

Can someone pls help me with this ?

A marker has been put on my lloyds tsp current account by Cdr Data quality team, I owe nothing with lloyds and have no credit facility with thEm But I am unable to get an overdraft bcos Cdr have a data against my name.

I have been trying to get rid of this data but to no avail ! l

My branch can't even help and they are denying any knowledge whereby Cdr data team is part of lloyds tsp collections :mad:

I need Help plssss

see these threads

https://forums.moneysavingexpert.com/discussion/3295652
https://forums.moneysavingexpert.com/discussion/2308545

jcpcelt

Al_Mac wrote: »

Q) Why didn't they stop payment when I didn't have funds?

A) You have an anticipatory limit, an amount by which they will let you go overdrawn.

This is generally not the case. It's most commonly due to pre-authorised debit card transactions which don't earmark funds, the same goes for contactless payments and continuous authorities (recurring payments/subscriptions).

Earmarks are also deleted after 5 days normally, and there is also the phenomenon of the £1 Earmark (an earmark of £1 for a payment of much more), used by all pay-at-the-pump services and many supermarkets.

It's all very unhelpful when it come to excess management.

jcpcelt

alanq wrote: »

" 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."
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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.

I can't speak for other banks, but the bank I work for, we'd first get you to check the recipient details, and for the recipient to check them with their bank (a lot of the time an account they say is 'old and closed' is indeed alive and kicking, or when they say 'wrong details, they mean the wrong account of several held by the recipient).

After that, and after 5 days are given for the money to be returned, we will trace a payment. Once it's been traced we can ask the other bank to grant debiting authority, but this is based on the consent of the beneficiary of the funds, and takes up to 6 weeks with all steps being undertaken in writing between the banks and their customers.

It's important to recognise a few of important facts- a) if a faster payment doesn't bounce back into your account immediately then it has very likely reached an account as the third process of an FP is to validate the account details, effectively a call and response to the other bank b) Your bank has no right to then recall those funds, neither does it have the facility c)how does your bank know that you genuinely made a mistake and haven't instead sent the money to someone you bought items from, such as a car, have received the items and are now looking to recall the funds in order to abscond with the goods for free?- this is why funds cannot be recalled without such a process d) A bank will not allow an internal transfer to a closed account or one that doesn't exist with them, if you were to mistype the account number by say, a digit, then it's unlikely that you will have the misfortune to actually hit a correct account number for that sort code, given the number of different sort codes most banks have.

boringoldfart

Ryanc0llins wrote: »

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

So what is happening to money that Zurich have said is being transmitted via the Bank Giro Credit system but will take up to 6 working days to reach my account? Surely they are not telling porky pies and they haven't really sent it yet?

kkid

Al_Mac wrote: »

The answer to questions such as.

q) Money has appeared in my account. Can I spend it?

a) NO!

Why not?
If somebody is stupid enough to transfer money into your account then it's their loss.

robatwork

kkid wrote: »

Why not?
If somebody is stupid enough to transfer money into your account then it's their loss.

What happens if the bank by mistake transfer your money into someone else's account and they spent it. Would you be happy to accept that?

innovate

robatwork wrote: »

What happens if the bank by mistake transfer your money into someone else's account and they spent it. Would you be happy to accept that?

Doesn't even have to be the bank makes that mistake. With Faster Payment, we all could.

kkid

robatwork wrote: »

What happens if the bank by mistake transfer your money into someone else's account and they spent it. Would you be happy to accept that?

Then the bank should reimburse me its their fault after all, the receiver should be able to keep the money and spend it as they wish.