First Direct Regular Saver Maturing

ZeroSum

My reg saver with these has just matured. Interest paid but couldn't transfer out. Queried it with them, and told me it takes 5 days. 
I told them, them they were taking the p!ss and effectively withholding my money for a week without interest.

They apologised, transfered cash to current account, and give me a fiver for my troubles. 

I honestly don't know why they need to make stuff more difficult more than it needs to be. It's the same with their online security, it's totally OTT & just causes more problems. 

digalumps

The fact that their security both on and offline is OTT is exactly the reason I'm with them

ZeroSum

digalumps said:

The fact that their security both on and offline is OTT is exactly the reason I'm with them

That to use the website you need a smartphone or phone them up (at a cost to yourself) means its not fit for purpose. Why not use SMS like everyone else?

When I got a new phone, I was on the phone to them for nearly an hour getting the app to work cos of the excessive authorisations. You can still be secure but having something simpler & workable.

I'm in 2 minds whether to hold on as a donor account or just close & rationalise the number of current accounts I have, as its now surplus to requirements. Not bothering with another reg saver for 2.75%

colsten

ZeroSum said:

Not bothering with another reg saver for 2.75%

If you saw three £10 notes lying on the floor, with a note saying "feel free to take them", could you be bothered to pick them up?

ZeroSum

colsten said:

ZeroSum said:

Not bothering with another reg saver for 2.75%

If you saw three £10 notes lying on the floor, with a note saying "feel free to take them", could you be bothered to pick them up?

It's mainly as the RS were for stoozing & my stooze cycle is coming to end.
Also I can get more than 2.75% in Clubcard points from cash recycling via Tesco current account. 

digalumps

The reason first direct don't use SMS 'like everybody else' is because SMS is inherently insecure and not fit for purpose - certainly not for Banking security

ZeroSum

digalumps said:

The reason first direct don't use SMS 'like everybody else' is because SMS is inherently insecure and not fit for purpose - certainly not for Banking security

OK then what about card reader?
Their current set up whilst may be more secure, is completely impractible. 

There is a trade off, you can't make things so secure that the end user can't use them. Which is what FD are doing. 

born_again

ZeroSum said:

digalumps said:

The fact that their security both on and offline is OTT is exactly the reason I'm with them

That to use the website you need a smartphone or phone them up (at a cost to yourself) means its not fit for purpose. Why not use SMS like everyone else?

When I got a new phone, I was on the phone to them for nearly an hour getting the app to work cos of the excessive authorisations. You can still be secure but having something simpler & workable.

I'm in 2 minds whether to hold on as a donor account or just close & rationalise the number of current accounts I have, as its now surplus to requirements. Not bothering with another reg saver for 2.75%

Well if you have a contract mobile & some PAYG Or a land line with certain call packages. Its FREE.

Joe9090

digalumps said:

The reason first direct don't use SMS 'like everybody else' is because SMS is inherently insecure and not fit for purpose - certainly not for Banking security

When I was with them I am sure they sent me regular texts with my current balance and last few transactions. 

surreysaver

soulsaver said:

@Missus_Hyde
You don't have to wait a week to open another reg saver, you can open one immediately your old has matured ('disappeared').

Can't do that with M&S (the same banking group). Mine 'disappeared' a few days ago, matured yesterday, funds credited today to my current account (dated yesterday), but I cannot open a new one as it still thinks I've got a regular saver