Halifax new terms and conditions 2014

Thrugelmir

1Steven wrote: »

If you are expecting money transferred when you sell a car its a bit rich if that person then claims it was an error.

Then don't accept cash transfers as a form of payment.

Archi_Bald

Thrugelmir wrote: »

Then don't accept cash transfers as a form of payment.

What's safer? A cheque can bounce, and the cheque can be a forgery to start with. Cash can be a lot of forged notes.

If you accept a bank transfer, at least you know the person has a bank account - i.e. some bank has checked them out for ID and address. Although it doesn't give you 100% certainty, either, that you are not dealing with some sort of fraudster. Perhaps sell your car to a reputable 2nd hand dealer, may be for a few quid less than you could make in the private market, but you know you get your money.

Thrugelmir

Archi_Bald wrote: »

What's safer? A cheque can bounce, and the cheque can be a forgery to start with. Cash can be a lot of forged notes.

Bankers draft. Obviously release the asset after the draft has cleared.

Archi_Bald

Thrugelmir wrote: »

Bankers draft. Obviously release the asset after the draft has cleared.

Just google fake bankers drafts

Dobbibill

Alot of us now use internet banking to manage our accounts. If we mistype an account number of where we want to transfer money would we like it if the bank would not help get it back. IMHO, I think this is probably what has prompted this new clause.

1Steven

Seems they have changed the changes booklet and removed the part that said if you don't contact them by 1Dec the changes will come onto force. New booklet just says it will. Quick or what. When I first rang person 5 told me I had no current account or savings and I should take ID and evidence into my bank! I rang my bank and it is they that initiated the complaint on my behalf. I was phoned today to confirm the changes would go ahead anyway and to offer compensation for the problems with the telephone banking people. I did not accept it as they hadn't bothered to check the call log to establish what had gone wrong. I was told I could move my current account but not my savings without penalties (long term ISA's). They're paying the compensation anyway. I now await their letter so I can perdue the matter further. She did say the conditions had FCA approval so I shall write to them as well. Thank you to all those who offered help. Now who offers the best current account?

Thrugelmir

1Steven wrote: »

Now who offers the best current account?

The new banking code will be accepted by all the banks. So you won't escape it.

eskbanker

Thrugelmir wrote: »

The new banking code will be accepted by all the banks. So you won't escape it.

But others may take a less hardline stance than Halifax appear to have done with their wording - my interpretation of the code (and what I believe Halifax would do in the car-buying scenario) is that the receiving bank should contact the recipient and ascertain if they agree that it's a genuinely misdirected payment before taking any action. However, their new clause as currently worded theoretically grants them significantly wider rights than that, although the inclusion of a reasonableness test does provide some comfort.

A quick look at the Ts & Cs published online by the other LBG brands doesn't seem to show the others following suit yet but I agree it's pretty much inevitable that all will eventually....