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Intelligent Finance - trying to shed customers?
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Hyntleman
Posts: 2 Newbie
Month by month the service level of IF seems to deteriorate.
I now seem to have to get in touch every time I want to make a payment - apologies are given by the call staff each time but no change.
Yesterday (Thursday) I phoned at 4:38pm to make a payment since the online system was not working. I chose faster payments as the method, and was told that it would be completed by Monday. That is more than one banking day which is hardly "faster" payment. It was a large sum, so my suspicion is that they want to gain an extra day or two of interest.
You cannot open a new account with IF, and I wonder if the deteriorating service is deliberate.
Any thoughts?
I now seem to have to get in touch every time I want to make a payment - apologies are given by the call staff each time but no change.
Yesterday (Thursday) I phoned at 4:38pm to make a payment since the online system was not working. I chose faster payments as the method, and was told that it would be completed by Monday. That is more than one banking day which is hardly "faster" payment. It was a large sum, so my suspicion is that they want to gain an extra day or two of interest.
You cannot open a new account with IF, and I wonder if the deteriorating service is deliberate.
Any thoughts?
0
Comments
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Not personally had any banking problems, but I do agree with the thinking that they are slowly winding it down...ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 20270 -
It seems I was right. I have received a letter from IF saying that, following an EC ruling to increase competition, the Lloyds Banking Group has to reduce its market share. So no further enhancements are to be made to the IF range of products and they even say "there may be better options", and "other savings providers offer products which may be more suitable for your needs". Clearly Intelligent Finance is trying to shed its customers (or me at least
). 0 -
It's not just you, lots of IF customers have had this letter; there was another thread about it a couple of weeks ago. It's also mentioned on the IF website:
http://www.if.com/myifdotcom/marchmailing.aspx0 -
LBG should have transferred all to TSB once the Co-op deal went south.
That would have been too easy..This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
It seems they are certainly winding down. My mortgage is 2% plus base rate, which I am more than happy with as I'm fully offset. If they wind existing mortgages down, I'm sure they will have to keep the same t&c's. Need to watch this closely.0
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