The Top Easy Access Savings Discussion Area

Band7

allegro120 said:

SeriousHoax said:

OceanSound said:

SeriousHoax said:

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

Don't mean to be the buzz kill, but I reckon the source of wealth/know your customer (kyc) type requests are both triggered by certain actions AND also can be random.

It'll be interesting to see if you'll receive the same email again because chip system 'remembers' you from last time as the customer who closed their account after being asked for source of wealth. I guess we'll never know if it is due to the latter or because it's random, but would be interesting to see what happens nevertheless.

Yes it will be interesting to find out what happens.

I think I just got peed off the last time after giving them my information and proof on how I was funding my account then I had to wait 10 days for them to get in touch and say oh yes everything's ok your fine to keep banking with us.

Then I got a second email that was the exact same as the first wanting the same information. 

I sent them a message and they got in touch after a couple of days saying it's just the system.😏

SeriousHoax said:

OceanSound said:

SeriousHoax said:

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

Don't mean to be the buzz kill, but I reckon the source of wealth/know your customer (kyc) type requests are both triggered by certain actions AND also can be random.

It'll be interesting to see if you'll receive the same email again because chip system 'remembers' you from last time as the customer who closed their account after being asked for source of wealth. I guess we'll never know if it is due to the latter or because it's random, but would be interesting to see what happens nevertheless.

Yes it will be interesting to find out what happens.

I think I just got peed off the last time after giving them my information and proof on how I was funding my account then I had to wait 10 days for them to get in touch and say oh yes everything's ok your fine to keep banking with us.

Then I got a second email that was the exact same as the first wanting the same information. 

I sent them a message and they got in touch after a couple of days saying it's just the system.😏

My journey with Chip has been smooth so far. I didn't get any of this "wealth check" nonsense from them, but if I did it would put me off.  They offer a leading IA rate, but I'd rather be saving at 0.2% less than going through all this.  If they want more cash they shouldn't make it difficult for customers to deposit.

"going through all this" involved me writing an email to them explaining where my funds had come from. Half as dramatic as it appears. Minor nuisance, and nothing compared with the hours I had to spend with current account providers to release payments to my own accounts at other banks. If I turned my back on every bank that annoyed me at times, I'd only have a very small number, if any, left to do business with. The only ones who annoyed me too much are Kroo, where I closed my account because of their stupid blocking of incoming payments, coupled with slow and useless CS.

OceanSound

Band7 said:

SeriousHoax said:

OceanSound said:

SeriousHoax said:

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

Don't mean to be the buzz kill, but I reckon the source of wealth/know your customer (kyc) type requests are both triggered by certain actions AND also can be random.

It'll be interesting to see if you'll receive the same email again because chip system 'remembers' you from last time as the customer who closed their account after being asked for source of wealth. I guess we'll never know if it is due to the latter or because it's random, but would be interesting to see what happens nevertheless.

Yes it will be interesting to find out what happens.

I think I just got peed off the last time after giving them my information and proof on how I was funding my account then I had to wait 10 days for them to get in touch and say oh yes everything's ok your fine to keep banking with us.

Then I got a second email that was the exact same as the first wanting the same information. 

I sent them a message and they got in touch after a couple of days saying it's just the system.😏

I hope it occurred to them that they should change their system 

If we complain about system, some providers (e.g. The Co-operative bank) would try and fob us off with a 'We'll pass this on as feedback'. They don't even acknowledge complaints (even when FCA rules say each and every complaint must be acknowledged). 

Complain to the Financial Ombudsman and it's a 'we can't ask them to change their system'. When I complained about how slow (when passing security) the Co-operative bank's computer system was when I had called once,  I even had one adjudicator tell me 'technical issues are beyond the bank's control'.

SeriousHoax said:

OceanSound said:

SeriousHoax said:

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

Don't mean to be the buzz kill, but I reckon the source of wealth/know your customer (kyc) type requests are both triggered by certain actions AND also can be random.

It'll be interesting to see if you'll receive the same email again because chip system 'remembers' you from last time as the customer who closed their account after being asked for source of wealth. I guess we'll never know if it is due to the latter or because it's random, but would be interesting to see what happens nevertheless.

Yes it will be interesting to find out what happens.

I think I just got peed off the last time after giving them my information and proof on how I was funding my account then I had to wait 10 days for them to get in touch and say oh yes everything's ok your fine to keep banking with us.

Then I got a second email that was the exact same as the first wanting the same information. 

I sent them a message and they got in touch after a couple of days saying it's just the system.😏

I've just had a look through my emails with Chip support staff when i used their account back in 2019/20. Seems there was an issue with bonus interest been credited on App. When I contacted support they were really vague with a 'this will be sorted out soon'. No particular date. 

I can see that this had led me to move money elsewhere. 

What they don't seem to realise is that they are not the only bank/fintech out there. They are not the likes of Google or Facebook. Actually, there are some privacy based search engine providers and the like coming through lately so not even Google is gonna be a monopoly for long. 

pecunianonolet

Anyone know if Santander has a cut off time to receive funds in their e saver? Faster payments should be near instant but put some cash in and it was showing the date of the following day. Information provided in chat was useless, saying it is normally instant but can take up to 1 day but no mention of any cut off times etc. so lost a full day of interest. 

jaypers

pecunianonolet said:

Anyone know if Santander has a cut off time to receive funds in their e saver? Faster payments should be near instant but put some cash in and it was showing the date of the following day. Information provided in chat was useless, saying it is normally instant but can take up to 1 day but no mention of any cut off times etc. so lost a full day of interest. 

Not sure if you are paying direct. I always pay into my Santander current account first and transfer internally. From Barclays to Santander it has always been pretty much immediate. 

SJMALBA

jaypers said:

pecunianonolet said:

Anyone know if Santander has a cut off time to receive funds in their e saver? Faster payments should be near instant but put some cash in and it was showing the date of the following day. Information provided in chat was useless, saying it is normally instant but can take up to 1 day but no mention of any cut off times etc. so lost a full day of interest. 

Not sure if you are paying direct. I always pay into my Santander current account first and transfer internally. From Barclays to Santander it has always been pretty much immediate. 

I pay direct into/out from my eSaver (from/to Bank of Scotland), and payments have always been instant (i.e. make payment, log into the receiving account, and the money is already there).

pecunianonolet

jaypers said:

pecunianonolet said:

Anyone know if Santander has a cut off time to receive funds in their e saver? Faster payments should be near instant but put some cash in and it was showing the date of the following day. Information provided in chat was useless, saying it is normally instant but can take up to 1 day but no mention of any cut off times etc. so lost a full day of interest. 

Not sure if you are paying direct. I always pay into my Santander current account first and transfer internally. From Barclays to Santander it has always been pretty much immediate. 

Paying in direct to esaver from HSBC. Don't have a current account with them.

ForumUser7

pecunianonolet said:

jaypers said:

pecunianonolet said:

Anyone know if Santander has a cut off time to receive funds in their e saver? Faster payments should be near instant but put some cash in and it was showing the date of the following day. Information provided in chat was useless, saying it is normally instant but can take up to 1 day but no mention of any cut off times etc. so lost a full day of interest. 

Not sure if you are paying direct. I always pay into my Santander current account first and transfer internally. From Barclays to Santander it has always been pretty much immediate. 

Paying in direct to esaver from HSBC. Don't have a current account with them.

IIRC, HSBC state a cut off of 11:45pm for faster payments to arrive the same day when sent from their accounts - I think it’s in the ts and cs

Did you send this payment after 23:45?

dealyboy

Hi @pecunianonolet ...

pecunianonolet said:

Anyone know if Santander has a cut off time to receive funds in their e saver? Faster payments should be near instant but put some cash in and it was showing the date of the following day. Information provided in chat was useless, saying it is normally instant but can take up to 1 day but no mention of any cut off times etc. so lost a full day of interest. 

... I use the limited edition eSaver issue 1 as my hub, as such I move money in and out several times a week, directly.

I've not noticed any delay (other than the occasional other bank's fraud team tripping up a transaction for a couple of hours) or post dated credit, but I'll certainly be keeping an eye on it now, thanks for the heads up.

Complain and let them explain.

Maybe an opportunity? nudge, nudge ... 

pecunianonolet

ForumUser7 said:

pecunianonolet said:

jaypers said:

pecunianonolet said:

Anyone know if Santander has a cut off time to receive funds in their e saver? Faster payments should be near instant but put some cash in and it was showing the date of the following day. Information provided in chat was useless, saying it is normally instant but can take up to 1 day but no mention of any cut off times etc. so lost a full day of interest. 

Not sure if you are paying direct. I always pay into my Santander current account first and transfer internally. From Barclays to Santander it has always been pretty much immediate. 

Paying in direct to esaver from HSBC. Don't have a current account with them.

IIRC, HSBC state a cut off of 11:45pm for faster payments to arrive the same day when sent from their accounts - I think it’s in the ts and cs

Did you send this payment after 23:45?

It could have been around this time. Neither HSBC or the Santander esaver give a time stamp so it could well have been 23:46 or so, it was indeed just before midnight. 

OH did a payment yesterday, I think it was before 8pm, credited with date the same day, a later payment was credited with the date of the following day. Maybe the rules are different on a Sunday? 

ForumUser7

For Future Reference:

Source ~ HSBC UK Personal Banking Terms and Conditions and Charges Effective 23rd November 2021 RFB1848 CMT0131

If your Sunday payment was made slightly after 8pm, the only reason I can think of for the delay would be their 'checks'.