We never phone you to get you to transfer money

Legacy_user

But that's exactly what the local Lloyds manager has done.
He rang up, as they always do, to let me know some money had just been credited to my account, and asked if I would like some advice or one of their savings products.

He said until I had decided where to put the money he could transfer it into a higher-rate savings account.
As it happens, that's exactly what I was about to do, so he saved me the trouble. But then when I went online to check the transfer, the first message read:

"We never phone you up to get you to transfer any money".

Something wrong there, surely ?

Gromitt

I think there's a subtle difference here.

"We will never phone you up to get you to transfer any money"

and someone ringing you up and saying:

"I see a credit has been applied to your account. I can transfer it into a higher-rate savings account for you"

Saying that, surely they asked you numerous security questions first? Its these that would worry me, as I would be wanting them to confirm their identity first.

opinions4u

Year end target to hit.

He's bent the rules to suit.

At a guess.

Jobseeeker

I don't think they mean between a current account and savings account. That sounds like a sales call.

They mean if a fraudster phones up and says transfer money to this sort code and account number you shouldn't do it.

Hominu

The rule seems to be more to tell you they'll never ring you up to ask you to transfer funds, as any scammer can do that. What a scammer can't do is transfer funds for you.

But he was probably after some sales commission as well.

I'd be interested to know how a sales advisor knew that a credit has been added to my account sufficient enough to open a savings accounts for it. Isn't that kind of information private? I think I'd be quite angry that such information has been given to a sales person and probably open a complaint.

grumbler

Gromitt wrote: »

Saying that, surely they asked you numerous security questions first? Its these that would worry me, as I would be wanting them to confirm their identity first.

Absolutely...

pawlala

It must have been a fair bit of money. I've learnt with Lloyds (TSB) over the years to expect a call when transferring in a large sum (for overpayment, car, deposit etc). I usually set this up on my phone as "Lloyds IGNORE AAAAAAGH".

Crystallady

He didn't call you to transfer money he called to sell you something "asked if I would like some advice or one of their savings products".

System

a) He didn't ask any security questions.
b) He knew about transactions on my account because he is the branch manager
c) It was £19,000

I appreciate there is a difference between transfering money between accounts and transfering money out of an account altogether.
But that is exactly the sort of distinction a fraudster would play on.
"We can offer you a new bonus account"
"It's a slighly better rate than the standard one, but we like to reward loyal customers"
"It will only take a few minutes to make the transfer, I just need your ..."

You can see how vulnerable or flustered people are taken in, and surely when a bank itself twists the rules a bit that exposes a chink in our defences?

grumbler

Clifford_Pope wrote: »

...
"It will only take a few minutes to make the transfer, I just need your ..."

Why have you not finished the sentence? Was it meant to be "...all security details for telephone banking"?

platterfish

Clifford_Pope wrote: »

a) He didn't ask any security questions.
b) He knew about transactions on my account because he is the branch manager
c) It was £19,000

I appreciate there is a difference between transfering money between accounts and transfering money out of an account altogether.
But that is exactly the sort of distinction a fraudster would play on.
"We can offer you a new bonus account"
"It's a slighly better rate than the standard one, but we like to reward loyal customers"
"It will only take a few minutes to make the transfer, I just need your ..."

You can see how vulnerable or flustered people are taken in, and surely when a bank itself twists the rules a bit that exposes a chink in our defences?

If your so concerned why did you let him do it when he didn't ask any questions, you should have asked him questions and you should have called him back. Seems that if it was fake, you would have happily agreed.