Chase Bank - Oversubscribed? Struggling to get a transfer out

si_74

Not sure if anyone else will have experience of the same but I am having difficulty in transferring my money our of the Chase account I set up recently.

Unlike many I managed to open my Chase account relatively easily and was becoming quite impressed with the App based service. However.......

Yesterday morning I tried to transfer some money out of the bank to pay off an upcoming obligation. This was to be transferred to an account that I have used before. A day and a half later the transfer is still stuck pending clearance. Now, I understand that security is important and I do want my money protected....but every other bank seems to have an automated system for doing this.

Looking at reviews it seems like I could be in for much longer wait than I have already. 

This account is billed as 'instant access'. It doesn't feel that way to me. Response through the chat on the app is very slow and the phone lines are too busy to get through on. Anyone else experienced this and managed to sort the problem?

donglemouse

same issue here tried to transfer £5k last week noticed a couple of days later it wasn't in the barclays account i'd asked to be paid and saw it's still pending for security clearance at chase

i'd had no calls or messages from chase so went on the app last night and queried it 

got a message back about 4 hours later saying i needed to call them to clear the payment via phone, i need to do that later today

not impressed they held the payment but made no effort to call or message me to say it needed security clearance 

if anyone has done the call to release a pending payment would be interested to hear your experience 

zombie404

I transferred some Friday evening out of chase to my Virgin it went I to pending 

24 hours later was still pending I messaged em a few times from within chase app

 eventually they rang me at this point. Payment had been pending 47 hours money was released after within the hour of  phone conversation

si_74

zombie404 said:

I transferred some Friday evening out of chase to my Virgin it went I to pending 

24 hours later was still pending I messaged em a few times from within chase app

 eventually they rang me at this point. Payment had been pending 47 hours money was released after within the hour of  phone conversation

Thanks for that. Good to know. I'll keep trying with the messaging.

Rollinghome

I hope it's just because they bit off more than they can chew and that it will get better.  Stopping every payment, even to payees that have been paid similar amounts several times before, gets to be a bit tedious when they won't commit enough resources to deal with the problems.

Interestingly, in my experience, the checks they then do, seem unlikely to add much to security.  They seem to think that calling them from my registered phone is enough to prove it's me calling, when all it proves is that whoever is calling has access to my phone.  With the pin, that person would know how much was sent and to whom, which is all I've ever been asked.

If they don't get their act together, I can see a lot of those new customers heading for the exits.

refluxer

Rollinghome said:

I hope it's just because they bit off more than they can chew and that it will get better.  Stopping every payment, even to payees that have been paid similar amounts several times before, gets to be a bit tedious when they won't commit enough resources to deal with the problems.

FWIW, I've also had similar experiences with Barclays recently - larger payments (even to accounts I've paid and approved previously) have been blocked due to their anti-fraud measures. Sometimes they get straight through and sometimes they don't - sometimes the blocked payments are released without any input from me and other times I have to answer a text message or a phone call to get the funds released. This presumably appears to be random because, if there was a pattern to it, then fraudsters would work out ways to get round it.

I'm not making excuses for Chase but it does look like this is becoming more common, no matter which bank you deal with. Hopefully, their anti-fraud systems will learn and improve over time.

bertsilver

I've not had a problem with transfers, I've just transferred 25k a day, for the last 3 days and all went through within 30 mins each time.
Getting rid of Chase and putting it in a 1 year fixed.

Daliah

Many reports of delayed payments in the main Chase thread

https://forums.moneysavingexpert.com/discussion/6295399/chase-uk-discussion

Rollinghome

refluxer said:

I'm not making excuses for Chase but it does look like this is becoming more common, no matter which bank you deal with. Hopefully, their anti-fraud systems will learn and improve over time.

Security checks: good.  We all pay the cost of bank fraud, whether directly involved or not. The regulators are twisting their arms to do just that.

Not devoting sufficient resources to ensure those checks are carried out efficiently and intelligently: not so good.

One of the worst was Santander, to the extent that, after hours on the phone for every transfer,  I stopped using them after many years with them - apart from a few odds and ends.  Last week I had to route a largish sum through them and was pleasantly surprised.  Either they've sorted the problems or perhaps enough customers have left, so they're not so stretched, Or maybe I was just lucky.

Daliah

Santander still do random security checks, as do other banks. In my experience, though, none of the other banks are as radical with holding up payments as Chase are, and none of the others make you wait as long as Chase do. 

Rollinghome

Daliah said:

Santander still do random security checks, as do other banks. In my experience, though, none of the other banks are as radical with holding up payments as Chase are, and none of the others make you wait as long as Chase do. 

Which bank is the most incompetent and annoying could be a close race:  Santander has especially good ways to irritate customers and would be on short odds.

Time and again I'd make a Santander payment to long term payees using 2FA that would appear to have gone through, not showing in pending, and then, five minutes later, I'd get an automated call requiring confirmation for the payment.  Would give payment details, DOB, etc and be told: "Your confirmation has been noted.  This payment has not been made. Check the details before making the payment again."  I'd login, make the payment again, then found I'd been kicked out and the account locked, without any notification or explanation.

Then the fun would start.  I'd always have to speak to at least two people, hanging on for both, .and they've obviously been trained to assume all customers are likely scammers/money-launderers and treat them accordingly. Wouldn't occur to them that part of their job was to efficiently move customers' money when asked.  Every time I made a payment I had to make a copy of transactions, on the assumption I'd be locked out, so that I could answer their interrogation. That would take around two hours on a good day and I spent 4 hours or more a week when I was re-allocating a fair bit of money. So bye-bye Santander with an inadequate amount of compensation. I remain deeply scarred.

For all the inefficiencies of Chase, I've always found their staff unerringly polite (some might say a tad too polite for the comfort of the average Brit).