Banks Reporting to HMRC

Steve_xx

evenasus wrote: »

I fear I tempted fate with my post above.

I just tried to transfer a smaller amount of £2500 and received a message from Barclays... Your payment has been delayed because we need to perform some extra checks to protect your account from potentially fraudulent activity.....

Annoying, as I've transferred £30K in total from them during the last 2 months and didn't generate any message from Barclays.

This sort of thing happens a lot nowadays I think. Though the 30k you mentioned, was it transferred to somewhere that you've transferred to before? If the £2500 is a new transfer then yes, it seems it's very likely that they'll want to contact you about it.

evenasus

Steve_xx wrote: »

This sort of thing happens a lot nowadays I think. Though the 30k you mentioned, was it transferred to somewhere that you've transferred to before? If the £2500 is a new transfer then yes, it seems it's very likely that they'll want to contact you about it.

Yes, the £30K was to a different bank.

The delayed £2500 was a transfer to Tesco Internet Saver.

I've had a Tesco Internet Saver for the last 5 years but every year you have to open a new Internet Saver and close the old one. Thus a new account number.

This is because of the way Tesco operate the account due to the bonus payment. Ridiculous - I know but that's how Tesco operate it.

This is the first time I've encountered this problem, since I started online banking 15 years ago.

I know it's for my own safety but nevertheless annoying.

Steve_xx

evenasus wrote: »

Yes, the £30K was to a different bank.

The delayed £2500 was a transfer to Tesco Internet Saver.

I've had a Tesco Internet Saver for the last 5 years but every year you have to open a new Internet Saver and close the old one. Thus a new account number.

This is because of the way Tesco operate the account due to the bonus payment. Ridiculous - I know but that's how Tesco operate it.

This is the first time I've encountered this problem, since I started online banking 15 years ago.

I know it's for my own safety but nevertheless annoying.

Yes it is annoying I know and it does seem to be happening more frequently. Therefore it makes me wonder about the overall safety of internet banking. Invariably if you set up a new payee it seems that the first payment is more often than not intercepted, especially if it's for more than a few hundred quid.

When I mentioned about the 30k I was trying to establish whether that money was going to a payee that you had paid on another occasion. Unlike the £2500 that was going to what is effectively new payee. My hunch is that existing payees who you have made payments to on a number of occasions don't seem to get troubled, whereas fresh payees nearlyalways seem to get intercepted on the first payment. Even if you manage to make a successful low sum first payment to a new payee as a sort of test to ensure you have the details correct, then go on to make a larger payment to that new payee, then the larger payment will often be intercepted I feel.