TSB won't give my a/c info to Santander!

barbara22

I decided last week to switch banks from TSB (as it is now and who my account is now with) to Santander's 123 account because it will earn me a small amount each month on cashback from various direct debits, even allowing for the monthly fee.


All went well at first, Santander confirmed the switch and I was sent a debit card and my account details. THEN, I got a letter from them that they had stopped the switch as TSB will not provide them with a list of my payments, and to ring them regarding this - apparently my debit card number with TSB did not match??? Admittedly Lloyds TSB had sent me a new 'temporary' debit card a few months ago until the bank split was finalised, which it now has been.


When I rang Santander, they said that the situation is difficult with Lloyds, TSB and Halifax customers as the banks are in a mess administratively so they often are unable to provide the information (and in any case don't want to of course).


I then got a letter from TSB yesterday confirming that they are 'unable to proceed' with the request to switch my account from them though it doesn't say exactly why, and that I should contact my new bank.


Which I did. Santander say TSB have said they will clarify and provide the information tomorrow (Mon 4th Nov) hopefully, and that they will then be able to finalise the switch.


I wonder if all of this is genuine, or just shenanigans on the part of TSB etc to stop customers switching? And 7 day switching - well, looks like that's just a joke from where I'm standing!

anselld

barbara22 wrote: »

I wonder if all of this is genuine, or just shenanigans on the part of TSB etc to stop customers switching?

Delaying a few customers who have decided to switch anyway is not going to be some cunning master plan to make them more money. It is just incompetence.

barbara22

anselld wrote: »

It is just incompetence.

Agreed, but it's very annoying since I had elected to switch during a very short period when my current account has few if any activities such as payments etc due.

I wanted to make the switch as cleanly and easily as possible for all parties concerned!

ColdIron

Why don't you just open the 123 as well and leave your TSB dormant, it can be handy having an alternative in some situations. Moving direct debits usually just takes a phone call

barbara22

ColdIron wrote: »

Why don't you just open the 123 as well and leave your TSB dormant, it can be handy having an alternative in some situations. Moving direct debits usually just takes a phone call

Because I will get additional cashback (via Topcashback) of £45.45 for a complete switch via Santander's automatic switching service. I live on a state pension plus a tiny private pension so any additional cash I can make is very welcome.

Also, the amount of money I have does not merit having more than one current account, and to be honest my financial affairs are relatively simple and monitored by me daily anyway. I created a spreadsheet for it (whoever it's with) on my computer - and I know how my spending etc is going months before any bank does!

I just don't understand how supposedly efficient financial institutions make such a mess of a simple process.

BMN

Although the impression they give differs, it actually isn't such a simple process behind the scenes.

scott_lithgows

barbara22 wrote: »

When I rang Santander, they said that the situation is difficult with Lloyds, TSB and Halifax customers as the banks are in a mess administratively so they often are unable to provide the information (and in any case don't want to of course).

Abbey/Santander are of course experts at internal changes inside banks as any ex customer of Alliance+Leicester,Bradford+Bingley or National+Provincial will tell you

pmduk

It isn't fair to blame Santander for the problems National & Provincial customers had. Abbey screwed that one up all on their own. Years before Santander came on the scene.

Hominu

barbara22 wrote: »

Because I will get additional cashback (via Topcashback) of £45.45 for a complete switch via Santander's automatic switching service.

Don't forget the Santander T&C's...

"Cashback is only paid on approved applications which are completed wholly online and within 30 days from application. Any application that needs to be followed up offline (for example, to show proof of ID in a branch) or is over the 30 days from application won’t receive cashback."

barbara22

Hominu wrote: »

Don't forget the Santander T&C's...

"Cashback is only paid on approved applications which are completed wholly online and within 30 days from application. Any application that needs to be followed up offline (for example, to show proof of ID in a branch) or is over the 30 days from application won’t receive cashback."

I haven't forgotten their T&C's, which is another reason I'm annoyed at the delay. If I have to show proof of ID at a branch that's another thing, but so far I've only spoken to friendly and helpful staff at Santander on the phone, so fingers crossed that it won't be necessary.

jonesMUFCforever

For any switch to succeed all the information has to be exact between the 2 accounts.
The pan number is required from the old bank to be entered by the new bank.
The address has to be exact eg a Liverpool address say marked as Merseyside by one bank but Lancashire with another would be rejected.