Tesco Bank

bluehydrangeas

I've been unable to transfer money from my Tesco account since yesterday morning. It won't let me transfer money to any other accounts using online banking or the mobile app. I get an error saying we are unable to process this transaction. I don't know what do. I feel like crying.

jem16

alanwsg wrote: »

I had the "online transactions suspended" text as well, but they're not - I was able to transfer money to another bank this morning.

As others have said, I think this means an online purchase to a retailer not transferring money via online banking.

jem16

bluehydrangeas wrote: »

I've been unable to transfer money from my Tesco account since yesterday morning. It won't let me transfer money to any other accounts using online banking or the mobile app. I get an error saying we are unable to process this transaction. I don't know what do. I feel like crying.

Is your available balance the same as what you are trying to transfer or are the funds not available?

shortcrust

I've just been able to transfer money from my Tesco current account using faster payments. I'm guessing they've use the term 'online transactions' in the technical sense of card transactions that require authorisation, rather than meaning online banking transactions. Sloppy wording to say the least.

bluehydrangeas

jem16 wrote: »

Is your available balance the same as what you are trying to transfer or are the funds not available?

Balance and available balance are both exactly £3000. I am unable to move any money using faster payments to any of my other accounts.

Tragen

Not much help now, but I've held back on opening a current account with them because I remember their attitude to security from a few years ago (apparently 4 now!).

http://www.bbc.co.uk/news/technology-19316825

jem16

bluehydrangeas wrote: »

Balance and available balance are both exactly £3000. I am unable to move any money using faster payments to any of my other accounts.

In which case it looks like you will have to contact them to make the transfers. Might be less busy today.

worldtraveller

shortcrust wrote: »

I've just been able to transfer money from my Tesco current account using faster payments. I'm guessing they've use the term 'online transactions' in the technical sense of card transactions that require authorisation, rather than meaning online banking transactions. Sloppy wording to say the least.

Indeed it is! However, it's really no surprise when you look back at some of the past fiasco's with banks that have had similar issues, or IT problems and very poor communication with their customers at the time.

They give limited information and, even then, that information is rarely accurate, clear & precise and probably goes through crisis/PR people who have limited knowledge of how their own banking systems operate.

Rich2808

Is this problem related to the fact it's very easy to set up a new payee on a Tesco account once you are logged on - you just put in the details and you can move funds immediately.

They don't have card readers or key cards or phone conformations to your registered mobile like other banks which therefore have an additional step for new payees. This has always concerned me a bit - as if anyone manages to login to your account they can move money to a new payee within seconds without an additional step.

The one security feature they do have is that you can only login on a PC or tablet you have used before without a security check.

steve65e

No, those are faster payments which leave your account immediately. This problem is to do with card payments as they are pending for a couple of days before settlement.