Problems with TSB accounts

blue.peter

born_again wrote: »

Can't see the point in opening a account then simply transfer money in and straight out again. Especially one that pays interest.
Is so suspicious.

It might raise suspicions, but there can still be a good reason. This is exactly what I do whenever I open a new account. I transfer a small amount in (say, £10) and then transfer part of it back again (say, £5). I do this simply to ensure that I've correctly entered each bank account's details in the other's system, and that they work correctly. Once I'm satisfied that all is working as it should, I'll transfer the balance of whatever amount I want in the new account to it. Similarly, whenever I set up a new payee - say, a credit card - I'll make a small payment to it and check that it's arrived safely before paying the balance of whatever larger amount is due.

On a couple of occasions, this has locked the new account's online banking. In both cases, I've been able to get it unlocked with a phone call.

Maybe I'm a bit paranoid, but if I have made a mistake, I won't be massively out of pocket while it's rectified. I've never yet had such a problem, but I'd rather be safe than sorry.

Notepad_Phil

tryin wrote: »

Did anyone else put money in and out of a TSB account without problems? I want to know for the future if this is a fluke, or if it happens often. And anyone have experience with other banks?

I've done this for the last few years in order to meet the minimum monthly requirements for TSB and other banks (with usually minutes between putting it in and taking it out), however there has been money in those accounts and that might be why your friend experienced his problem as it seems as though he transferred the money in and then all of the money back out again. I can see that might raise suspicions as to the reasons for the transaction.

tryin

Notepad_Phil wrote: »

I've done this for the last few years in order to meet the minimum monthly requirements for TSB and other banks (with usually minutes between putting it in and taking it out), however there has been money in those accounts and that might be why your friend experienced his problem as it seems as though he transferred the money in and then all of the money back out again. I can see that might raise suspicions as to the reasons for the transaction.

Actually my friend left some money in the account. Maybe its because it was the first thing he did.

I would love to hear more people's experiences. Thanks everyone!

born_again

Nebulous2 wrote: »

I’ve a TSB account which has never been verified at all, as far as I’m aware.

So you will be on electoral role, supplied the required address etc. Ghat allows TSB to fully check the details you supplied are correct.
Most accounts don't require anything further.

bristolleedsfan

tryin wrote: »

The point is very obvious - to qualify for the switching offer.

My main question was what is other people's experience with putting money in then sending it straight back. Does this make problems often, or only rarely?

Second TSB account rather than wait for ID profiles to merge £500 in, £500 out had to phone fraud number, whilst on phone complaining about how long I had been waiting for I thought I would try £1.00 out to another account in my name, had must phone message, luckily I was already on phone to them.


I think TSB system over zealous due to its fraud guarantee, my experience with other banks is sometimes happens with new account/new payee when phone authorisation is involved, never when card reader/secure pad is used.

Nebulous2

born_again wrote: »

So you will be on electoral role, supplied the required address etc. Ghat allows TSB to fully check the details you supplied are correct.
Most accounts don't require anything further.

Oh I’ve no doubt they know who I am and where I stay, but I didn’t supply any details. I would have given all my details to the Bank of Scotland when I opened my credit card, and obviously they knew my address to send the application form to. I never completed or signed it however and it was an administrative anomaly that TSB converted that into a fully functional account.

tryin

Bottom line is TSB is messed up...

I had a few problems when using their online banking. I found that if I change internet browser from chrome to firefox it works much better.