Halifax Fraud (Transferring money between own bank accounts)

RN61

People's experiences differ. But I've found Lloyds to be a pita, suggest ditching after the switch money. In similar circumstances they've locked my account and required attendance at branch (miles away because they've closed many) with passport and proof of address 

Sensory

Brie said:

Zanderman said:

Brie said:

Johntea said:

As the problem is I need to do the £1500 'bounce' between the accounts on a monthly basis to avoid a £3 account fee at both Halifax and Llyods!

There must be easier ways to save £6.

Moving cash back and fro seems pretty easy to me. 

Not if you end up being on the phone for hours!!  

And the OP said this was to save an account fee being charged.  I fail to see what the real benefit is of all these accounts.

You're hardly new to MSE; you should be aware of how many forumites have multiple accounts for free perks and rewards, and after the initial setup process, which can sometimes have hurdles such as that described in this thread, why say no to an extra few hundred pounds a year?

Daliah

RN61 said:

People's experiences differ. But I've found Lloyds to be a pita, suggest ditching after the switch money. In similar circumstances they've locked my account and required attendance at branch (miles away because they've closed many) with passport and proof of address 

I am sure if you did a poll on MSE, the vast majority of Lloyds account holders would say they would keep the Lloyds account(s) which many of them have held for many years, if only for the rewards, and for interest purposes in the past.

Ballard

I had a similar experience when transferring funds from First Direct to Chase recently. I’d transferred £10 as a test followed by a more significant sum whereupon I was called and quizzed about it. Had someone asked me to pay it? Had someone asked me to set the account up? Did anyone else have control over that account? Why did I open it? Where had I read about it?

After answering her questions, she warned me that if it was fraud they wouldn’t compensate me as I’d been given ample information of possible fraud. 

This probably took 10 minutes but I was grateful that they have such systems in place and thanked her for her time.

I do get that this wasn’t as bothersome as some have experienced on this thread and I’d be annoyed to have to visit a branch but they do it with good intentions. 

nyermen

While it seems ludicrous when compared to the "news stories" (people transferring 10's or 100's of thousands to fraudsters accounts despite saying "OK" to all the warnings, then still getting their money back when some public body gets involved), I think there'll be more of this, as the AI or whatever they use, is still pretty rough around the edges.  
Its probably programmed to randomly check on any payments that come into an account and then the same amount is promptly moved out again (money mule check?).

username

I remember going into Santander once and transferring pretty much the contents of an account I had with them to another one of my own (circa £5k) and at the counter was made to read a statement that I was not being coerced into doing so etc, it was about a page long! I would have done it online but their internet banking was pretty awful and just wanted to get shot of the account at the same time as well.

LightKnow

Hope don’t mind ask here

I some what had same issue. Had ring fraud team

is normal to get hammered with random questions or do these actually help them 

e.g Have clicked a recent text , what internet provider do you use don’t get how this helps?

I get been asked dob age address etc 

[Deleted User]

LightKnow said:

is normal to get hammered with random questions or do these actually help them 

Yes, though they're not random and yes, they help.

LightKnow

Just curious as to how them need to know what broadband provider am with helps ? ( how does this even prove anything? 

k_man

LightKnow said:

Just curious as to how them need to know what broadband provider am with helps ? ( how does this even prove anything? 

A few possible reasons, where it would add points to your being the account owner score, e.g.

There is an ongoing payment to that provider from your account

There are regular logins from that provider to the bank app/website