I really hate how Santander don't tell me when they freeze my account!

Stuart788

Sorry just needed to vent as this isn't the first time this has happened.

Occasionally when I move large amounts of money Santander will allow the money to leave the account and give me the impression the money has been sent. Of course the money doesn't arrive in the destination account and they wait for me to contact them to unblock my account. Sometimes I almost wonder if they hope I'll forget to call or not chase it up.

I am really going to relish closing my accounts in a month.

bxboards

This happened to me a few days ago as I decide to drain one of my 123 accounts in anticipation of a rate cut to feed a fixed rate ISA.

Apparently this happens if you do it at certain hours - the chap I spoke to said usually you'd get a phone number to call so they can check the payment is genuine and authorised by you, but if its outside the hours they work, they freeze online banking until they can speak to you.

Stuart788

bxboards wrote: »

This happened to me a few days ago as I decide to drain one of my 123 accounts in anticipation of a rate cut to feed a fixed rate ISA.

Apparently this happens if you do it at certain hours - the chap I spoke to said usually you'd get a phone number to call so they can check the payment is genuine and authorised by you, but if its outside the hours they work, they freeze online banking until they can speak to you.

They're a huge bank it seems beyond belief that they'd shut down your account if you attempt a large transaction after 6 p.m! They've also never once tried to call me after they block my account but wait for me to call them without providing a phone number.

Nice to hear of other people draining their 123 accounts

bob792

The limitation I've adopted to get round this problem is to never take money out instantly but always to list it to go out the next day to give them a chance to do their checks. This hasn't failed me yet but no doubt I'll find out on 1st Nov when I take all my money out.

MarkFromCornwall

Stuart788 wrote: »

Sorry just needed to vent as this isn't the first time this has happened.

Occasionally when I move large amounts of money Santander will allow the money to leave the account and give me the impression the money has been sent. Of course the money doesn't arrive in the destination account and they wait for me to contact them to unblock my account. Sometimes I almost wonder if they hope I'll forget to call or not chase it up.

I am really going to relish closing my accounts in a month.

It's happened to me several times but I take a different view. They've always tried to contact me - eg. my phone shows their call. I'm happy that they are taking precautions to reduce the risk of a fraudster emptying my account. Incidentally, I don't think it's right to say that the account is frozen: I believe that in this situation you are still able to make other transactions.

Mark

alternate

Tesco also have a habit of doing this.

paragon909

Am sure you would all be the first to complain is a hacker/fraudster managed to send a large amount of money from your account and the bank did nothing...

Seems banks can't win even when they try protect customers.

System

The bank is protecting themself - not you.
It's only your money when you authorise it's withdrawal.
Until then, it's the bank's money and they owe you X amount.

paragon909 wrote: »

Am sure you would all be the first to complain is a hacker/fraudster managed to send a large amount of money from your account and the bank did nothing...

Seems banks can't win even when they try protect customers.

paragon909

Heng_Leng wrote: »

The bank is protecting themself - not you.
It's only your money when you authorise it's withdrawal.
Until then, it's the bank's money and they owe you X amount.

So you disagree that the bank should freeze or hold a payment until the customer verifies it... And you have the thinking they they should just allow large transactions to take place even if it is fraud then expect the bank to take responsibility and refund the customer...

Bank are protecting themselves and the customer. It takes 5 mins or so to call the bank and verify a transaction compared to weeks if not months of fraud investigations if it ever did happen!

It's not the banks money in your current account or savings. It's the account owners money!

maninthestreet

paragon909 wrote: »

It's not the banks money in your current account or savings. It's the account owners money!

No it isn't - you've lent it to the bank, becoming one the bank's creditors.

alternate

paragon909 wrote: »

Am sure you would all be the first to complain is a hacker/fraudster managed to send a large amount of money from your account and the bank did nothing...

Seems banks can't win even when they try protect customers.

OP isn't complaining that they block transfers. He is complaining that they don't tell their customers that they have done so. I cant see how anyone can defend this.