Problems transferring money to Raisin Account

manicmaggi

Hi has anyone else had issues trying to get money transferred from HSBC to their Raisin Account......Sent £1 when HSBC said didn't recognise the account initially this week and after it went through tried to send larger sum only to have their fraud team block it.....spoke to them who went through my banking history and still don't want to transfer my money as the original transfer when I started  using Raisin a few years ago when through Meteor Management........

Daliah

Change bank.

maxsteam

HSBC won't transfer funds to banks with a low credit rating. I'm not sure where they draw the line but here's a list of 50 UK banks by credit rating....

https://www.advratings.com/uk/credit-ratings

Here's a thread about the same issue with a different bank...

https://forums.moneysavingexpert.com/discussion/6266625/zopa-savings/p1

but Raisin are not even a bank, they are a "savings marketplace". This means that you can send them money and they will take it to a bank for you. There's a bloke in the local pub who provides the same service.

Daliah

Money you send to Raisin gets actually put into a Starling Bank account in your name first.

There is no reason whatsoever why HSBC should refuse your transaction.

Change banks. Plenty of switch offers about right now.

If you want to prolong the pain, you could also raise a formal complaint with HSBC.

Daliah

maxsteam said:

  There's a bloke in the local pub who provides the same service.

Blokes in your pub are FCA/PRA registered?

maxsteam

Daliah said:

Blokes in your pub are FCA/PRA registered?

He's completed the paperwork. He's just waiting for his registration number. It's all very safe. He only uses banks that come with FSCS protection.

Daliah

maxsteam said:

Daliah said:

Blokes in your pub are FCA/PRA registered?

He's completed the paperwork. He's just waiting for his registration number. It's all very safe. He only uses banks that come with FSCS protection.

In which case, he will no doubt shortly make a big announcement on the internet, as limiting himself to the pub clientele after all this effort and cost would be rather odd.

Baccaruda

Don't change to Santander as you will get the same problem. I tried to transfer large sums to Raisin (enough to attract the bonus) on two occasions last week, but both times my account was locked, forcing me to contact the Technical Department. Two earlier £1 payments to test the link were not stopped. The TD told me they consider payments to Raisin to be a fraudulent. With two of the biggest banks in the world not liking Raisin, should MSE be recommending it?

Daliah

Baccaruda said:

Don't change to Santander as you will get the same problem. I tried to transfer large sums to Raisin (enough to attract the bonus) on two occasions last week, but both times my account was locked, forcing me to contact the Technical Department. Two earlier £1 payments to test the link were not stopped. The TD told me they consider payments to Raisin to be a fraudulent. With two of the biggest banks in the world not liking Raisin, should MSE be recommending it?

Raisin is fine.

If I were you, I would raise a formal complaint with Santander, especially if they actually said they consider payments to Raisin fraudulent. 

Out of interest, how did you manage to speak to Santander's Technical Department?