Chase savings account

senderby

MSE recommended but they have not set up recognition from other banks , in my case Nat West to verify payments for newly opened accounts. 

They are aware of this but don’t seem in any hurry to do anything about this. Anyone else had a problem

eskbanker

If you're referring to the Confirmation of Payee initiative, Chase are one of many smaller players who haven't implemented it yet, so yes, everyone will experience the same when funding accounts there.  It's not mandatory, and, as pointed out on other threads, we've survived without it for many years, so just continue to use the tried and tested technique of sending a small test payment first....

P.S. MSE don't actually 'recommend' any savings accounts, they just list best interest rates.

cymruchris

One of my other banks - Virgin - that's been around for a while - also hasn't signed up to it (along with many others) - so I usually get a warning when transferring funds there as well. It is just that though, a warning, and can still go ahead and complete my transfer. Just double check that the details you're inputting are 100 percent accurate. Read them back, and then read them back again.

MarvinDay

cymruchris said:

Just double check that the details you're inputting are 100 percent accurate. Read them back, and then read them back again.

And when first transferring money to the new account, send a small test payment first to make sure that it's all okay.
I set up a Chase account yesterday and transferred £1 to it this morning and it appeared there seconds later.

sebtomato

I transferred some money from First Direct on Wednesday. FD couldn't confirm the account details, but I could still make the transfer. As it's now saved as a payee, won't be prompted again.

J_B

sebtomato said:

I transferred some money from First Direct on Wednesday. FD couldn't confirm the account details, but I could still make the transfer. As it's now saved as a payee, won't be prompted again.

Exactly the same happened with me using Starling - can't confirm details!!

I sent a quid this morning that went fine but now the next 10k is stuck in Starling's security loop, on a Friday evening! 😢

SickGroove

J_B said:

sebtomato said:

I transferred some money from First Direct on Wednesday. FD couldn't confirm the account details, but I could still make the transfer. As it's now saved as a payee, won't be prompted again.

Exactly the same happened with me using Starling - can't confirm details!!

I sent a quid this morning that went fine but now the next 10k is stuck in Starling's security loop, on a Friday evening! 😢

It'll be fine. I also use Starling & transferred £1 before larger deposit...

£1 transferred straight away, larger deposit was showing pending under transactions, then after about 4 hours the larger deposit arrived without any issues 😀 This was early morning Thursday.

If you sent the larger deposit late afternoon today then it might not complete til Monday, but rest assured it will arrive.

The transaction will change from pending to settled in your Starling App

Bigwheels1111

Opened my account on the 29th, made a test payment from First Direct account, No problem.
Took 5 minutes to arrive.
Then sent a 5 figure sum, all good.
2 hours later needed to add £300, 2 calls to bank asking where it is, asking is there a problem or fraud check needed. They said no. Then 3 hours later and 2 fraud calls, finally got sorted.

The joke is FD has uk based customer service, but fraud calls come from HSBC side and is from India etc, 
Who in their right mind would answer banking and security questions to an overseas call centre.

Rheumatoid

senderby said:

MSE recommended but they have not set up recognition from other banks , in my case Nat West to verify payments for newly opened accounts. 

They are aware of this but don’t seem in any hurry to do anything about this. Anyone else had a problem

As long as you are sure you have entered details correctly there is no problem. Chase working great with NW here.

400ixl

This is why you do the £1 transfer first to check it is all working and you haven't fat fingered anything.

sebtomato

Bigwheels1111 said:

Opened my account on the 29th, made a test payment from First Direct account, No problem.
Took 5 minutes to arrive.
Then sent a 5 figure sum, all good.
2 hours later needed to add £300, 2 calls to bank asking where it is, asking is there a problem or fraud check needed. They said no. Then 3 hours later and 2 fraud calls, finally got sorted.

The joke is FD has uk based customer service, but fraud calls come from HSBC side and is from India etc, 
Who in their right mind would answer banking and security questions to an overseas call centre.

Very strange that they would let a 5 figure sum through and then block a £300 payment.

Maybe they are trying to be difficult...