Skipton Building Society

roked

Biggus_Dickus said:

I’ve often wondered what parameters the Banks and B.Soc’s use when they decide the time is right to close accounts to new customers.

Skipton have pulled this account after just two days or so and I assume (perhaps wrongly) that although they may have taken on lots of new customers the actual cash invested is still comparatively low at the moment.  

Some accounts I’ve opened in the past have asked the general question ‘how much do you intend to invest?’....I’ve always assumed that question is used as a ‘ballpark’ guide to help them decide when to pull the account;....Skipton didn’t ask that question.

 

I cant say for sure but I suspect the reason Skipton has pulled the account is due to technical issues, probably not prepared for the huge interest. They were then subsequently unable to support this volume of new customers. I cant say for others but the experience the one I have had is not the best, took several attempts to get the account opened and once I did, I was not able to deposit into the account either via card or bank payment (which was being returned to me several hours later).

2 web chats with 20 mins queues, 2 near 1 hour long waiting queues on the phone and a call back (just 10 mins ago) and it is apparently resolved. I got told things like nothing wrong with my account, we have payment processor issues try later to the last one who decided to escalate it and apparently my account was blocked due to so many applications being received from different people at the same time  Its is very strange that it takes a special team there to identify that... Just sent another payment now and fingers crossed it will work...

Joe9090

I had no problem opening the account and setting up the app.
Although the app gives the current interest rate I cannot find any further info about the account although I am sure there will be more info about it by logging in via the website.
I know the interest rate includes a .5% bonus and I think the .7% is variable but do you think Skipton will keep it that way during the bonus period?

Biggus_Dickus

Joe9090 said:

I had no problem opening the account and setting up the app.
Although the app gives the current interest rate I cannot find any further info about the account although I am sure there will be more info about it by logging in via the website.
I know the interest rate includes a .5% bonus and I think the .7% is variable but do you think Skipton will keep it that way during the bonus period?

It might go up,... it might go down,...it might  stay the same;...it’s been such an unprecedented year anything could happen.

“There are those who don’t know,...and the rest don’t know they don’t know”  

 

soulsaver

Yes it will remain variable the whole year....

Biggus_Dickus

roked said:

Biggus_Dickus said:

I’ve often wondered what parameters the Banks and B.Soc’s use when they decide the time is right to close accounts to new customers.

Skipton have pulled this account after just two days or so and I assume (perhaps wrongly) that although they may have taken on lots of new customers the actual cash invested is still comparatively low at the moment.  

Some accounts I’ve opened in the past have asked the general question ‘how much do you intend to invest?’....I’ve always assumed that question is used as a ‘ballpark’ guide to help them decide when to pull the account;....Skipton didn’t ask that question.

 

I cant say for sure but I suspect the reason Skipton has pulled the account is due to technical issues, probably not prepared for the huge interest. They were then subsequently unable to support this volume of new customers. I cant say for others but the experience the one I have had is not the best, took several attempts to get the account opened and once I did, I was not able to deposit into the account either via card or bank payment (which was being returned to me several hours later).

2 web chats with 20 mins queues, 2 near 1 hour long waiting queues on the phone and a call back (just 10 mins ago) and it is apparently resolved. I got told things like nothing wrong with my account, we have payment processor issues try later to the last one who decided to escalate it and apparently my account was blocked due to so many applications being received from different people at the same time  Its is very strange that it takes a special team there to identify that... Just sent another payment now and fingers crossed it will work...

Perhaps the latest ‘lockdown’ threats with all the economic turmoil it may bring has suddenly put the frighteners on them.  

RG2015

Biggus_Dickus said:

RG2015 said:

I tried to setup a linked current account, but when I put in my details it did not recognise them.

I guess that this is because withdrawals cannot be made in the first 14 days. But it is still wrong to say it does not recognise my bank details.

PS. App installed and registered on my ipad and also installed and logged in on my android phone without any problems

I’ve just setup my NatWest current account as my ‘linked account’ using my laptop and it accepts the details no problem;...if you wish to make any account changes Skiptons system asks for your online password and 6-digit passcode. I initially made the mistake of entering my Mobile App 6-digit pin passcode,... which promptly gets rejected.

There is a function within the mobile App called ‘Secure Passcode’....it generates a random unique 6-digit passcode which is to be used when making any critical changes to your account; i.e. when  trying to setup a linked account et al,...you need to be quick though, because the 6-digit passcode is only valid for 30 seconds,...if more than 30 seconds elapses you’ll need to generate another passcode.

Where did you set up your NatWest current account as your linked account? I tried in the withdraw money section on my laptop but it is still saying it does not recognise my name on the account.

Biggus_Dickus

RG2015 said:

Biggus_Dickus said:

RG2015 said:

I tried to setup a linked current account, but when I put in my details it did not recognise them.

I guess that this is because withdrawals cannot be made in the first 14 days. But it is still wrong to say it does not recognise my bank details.

PS. App installed and registered on my ipad and also installed and logged in on my android phone without any problems

I’ve just setup my NatWest current account as my ‘linked account’ using my laptop and it accepts the details no problem;...if you wish to make any account changes Skiptons system asks for your online password and 6-digit passcode. I initially made the mistake of entering my Mobile App 6-digit pin passcode,... which promptly gets rejected.

There is a function within the mobile App called ‘Secure Passcode’....it generates a random unique 6-digit passcode which is to be used when making any critical changes to your account; i.e. when  trying to setup a linked account et al,...you need to be quick though, because the 6-digit passcode is only valid for 30 seconds,...if more than 30 seconds elapses you’ll need to generate another passcode.

Where did you set up your NatWest current account as your linked account? I tried in the withdraw money section on my laptop but it is still saying it does not recognise my name on the account.

I logged-in using my laptop;...the account overview shows a ‘withdraw’ tab. Hitting ‘withdraw’ takes me to ‘withdrawal options’,...then selected the option ‘transfer to an external bank account’ ....entered the required  details (name, sort code, bank account number) and the linked account was set-up almost instantly.

I didn’t have any trouble with my  linked ‘account name’ being rejected. Perhaps you’ll need to ring Skipton for advice on that one.

You’ll have a few days to get it sorted though;...just as a test, I tried a £1 withdrawal to my linked account but I got the message “No withdrawals allowed until 30th Sept.”

RG2015

Thanks @Biggus_Dickus, I did exactly the same as you. I have sent Skipton a secure message. For info, I got the following error message when I submitted my bank account details.

"Sorry we've been unable to verify you are named on the account.

To make changes to the information below select 'edit details'. Please be mindful not to resubmit the same information again."

Biggus_Dickus

RG2015 said:

Thanks @Biggus_Dickus, I did exactly the same as you. I have sent Skipton a secure message. For info, I got the following error message when I submitted my bank account details.

"Sorry we've been unable to verify you are named on the account.

To make changes to the information below select 'edit details'. Please be mindful not to resubmit the same information again."

@RG2015 It’s perhaps??? something to do with the new CoP ‘Confirmation of Payee’ rules that Banks et al have been rolling out this year.

Just a suggestion  (I’m certainly no expert in this field!)  but maybe you could try entering your name exactly as it appears on your Bank statements.

https://www.which.co.uk/news/2020/03/confirmation-of-payee-which-banks-are-ready-to-offer-vital-name-checking-service/

RG2015

Biggus_Dickus said:

RG2015 said:

Thanks @Biggus_Dickus, I did exactly the same as you. I have sent Skipton a secure message. For info, I got the following error message when I submitted my bank account details.

"Sorry we've been unable to verify you are named on the account.

To make changes to the information below select 'edit details'. Please be mindful not to resubmit the same information again."

@RG2015 It’s perhaps??? something to do with the new CoP ‘Confirmation of Payee’ rules that Banks et al have been rolling out this year.

Just a suggestion  (I’m certainly no expert in this field!)  but maybe you could try entering your name exactly as it appears on your Bank statements.

https://www.which.co.uk/news/2020/03/confirmation-of-payee-which-banks-are-ready-to-offer-vital-name-checking-service/

Maybe it's CoP , but it just asks for my surname.

I have tried again and ignored the error message and re-submitted the details which were accepted despite them saying not to re-submit the same details again.

I was then requested to email them a recent bank statement which I did and I am now awaiting this to be actioned by Skipton.