Lloyds delayed transaction

shandy1

Hi I purchased flights with Brussels Airways last night using Sofort online banking as there was no fee. I set it up as I would any other new payee.

It went through fine but this morning I logged into my bank and a delayed transaction message popped up saying -
A payment needs your approval-
These transactions are under review. We aim to review all transactions within 24 hours, please check back to approve them.

Do I just wait? Or should I call LLoyds? I have a email confirmation from Brussels Airways that I had successfully paid for the tickets this way, so I'm confused as to why the message says this.

Lloyds_Bank

shandy1 wrote: »

Hi I purchased flights with Brussels Airways last night using Sofort online banking as there was no fee. I set it up as I would any other new payee.

It went through fine but this morning I logged into my bank and a delayed transaction message popped up saying -
A payment needs your approval-
These transactions are under review. We aim to review all transactions within 24 hours, please check back to approve them.

Do I just wait? Or should I call LLoyds? I have a email confirmation from Brussels Airways that I had successfully paid for the tickets this way, so I'm confused as to why the message says this.

Hi shandy1,

It would be best for you to call our Internet Banking helpdesk. They'll be able to check this in detail for you. The number to call on is 0845 3000 116 / 01733 232030. They're open from 7am-10pm Mon-Fri and 8am-6pm Sat-Sun.

Hope this helps.

James

shandy1

Phoned them and they've approved it after 25 minutes and 2 dozen security questions.
I'm all for security in banking but surely the initial phone call from Lloyds where they ask you the code should be enough when doing a simple transaction.

Lloyds_Bank

shandy1 wrote: »

Phoned them and they've approved it after 25 minutes and 2 dozen security questions.
I'm all for security in banking but surely the initial phone call from Lloyds where they ask you the code should be enough when doing a simple transaction.

Hi shandy1,

I'm glad to hear the payment has been approved. I'll be sure to pass on your feedback about the process. Sorry for the inconvenience.

James

beet

Hi James
I tried to make an international payment from my Lloyds account to ICICI Bank in India, using the Money2India service. I was transferred to Sofort banking where the website asked me for my Lloyds online banking ID and password, which rang huge alarm bells.
Is this the usual procedure when using Sofort and do Lloyds consider it safe to do so please?
Thanks

colsten

beet wrote: »

Hi James
I tried to make an international payment from my Lloyds account to ICICI Bank in India, using the Money2India service. I was transferred to Sofort banking where the website asked me for my Lloyds online banking ID and password, which rang huge alarm bells.
Is this the usual procedure when using Sofort and do Lloyds consider it safe to do so please?
Thanks

How would you expect Sofort to get immediate (sofort in german) authorisation for withdrawing money from your Lloyds account if not via your verified login details? https://www.sofort.com/eng-GB/buyer/sb/security-with-sofort-banking/

I have used Sofort with Transferwise (same sort of thing as Money2India) several times and would have no hesitation to use it again. Sofort has been around for over 10 years, has processed tens of millions of transactions, and has never been reported as the reason for fraud.

But if you feel uneasy about it, you can always ask Lloyds to transfer your money, and pay the price for it.

agrinnall

I would have expected that revealing your online banking password would be a breach of your T&Cs but Sofort (who I've never heard of) seem to suggest that it isn't (at least for German banks):

The assertion of a breach of the general terms & conditions (prohibition of disclosure of confidential login details and confirmation code to third parties) is not correct. The German Federal Cartel Office (Bundeskartellamt) made its position clear in February 2011. It deemed general terms & conditions of German banks, or their interpretation, which prohibits the use of SOFORT Banking to violate cartel law and called upon the banks to enable non-discriminatory access for online payment systems that are independent of banks, such as SOFORT Banking. The banks have agreed not to claim publicly that users of SOFORT Banking were in breach of the banks' general terms & conditions.

Archi_Bald

agrinnall wrote: »

I would have expected that revealing your online banking password would be a breach of your T&Cs

Which clause in the Lloyds terms would it breach? I can't see any. Logging into your bank account from Sofort isn't really much different to you entering your login info on another browser page. Also, other products such as Skrill have offered instant transfers from UK bank accounts for years. I am not, of course, advocating that you should not need to scrutinise which service you allow to access your bank account.

As a btw, the Lloyds terms do spell out that they allow a similar technique as that used by Sofort and Skrill to access your account

4.8 We will not treat you as breaking your security obligations just because you use an aggregation service we do not provide. A typical aggregation service allows you to view information about your accounts with different banks on a single website.

agrinnall

Archi_Bald wrote: »

Which clause in the Lloyds terms would it breach?

No idea, I don't bank with Lloyds and I don't use any service that would require me to reveal my password. My assumption was based on equating revealing password with revealing PIN, if the banks don't in fact regard giving out your your password as a security flaw more fool them.

Dobbibill

beet wrote: »

Hi James
I tried to make an international payment from my Lloyds account to ICICI Bank in India, using the Money2India service. I was transferred to Sofort banking where the website asked me for my Lloyds online banking ID and password, which rang huge alarm bells.
Is this the usual procedure when using Sofort and do Lloyds consider it safe to do so please?
Thanks

This is what their website says here

In the same way you protect your PIN for your bankcards, keep your online passwords safe. Never let your passwords be known to anyone and don’t write them down.

IMO huge alarm bells were just.

Archi_Bald

Using Sofort as part of a currency transfer transaction does not equate to letting someone know your password.