Zopa - HSBC Transfer struggles

Daliah

cedge43 said:

Shedman said:

Same issue occurs with First Direct (which given they are part of HSBC group probably isn't a surprise) even though again you've spoken to them and confirmed and cleared a previous held transfer to Zopa account only the day before.

So you make another transfer the next day thinking it should all go through OK and then that gets held.   What is frustrating is when they don't eventually reach out to you to get you to confirm the transfer, even though you've spoken to CS to check if any flags on the transfer and are told there aren't, and then they just reverse it at the end of the day (as it transpires, as indicated by the complaints team, the fraud team are so 'overstretched' they didn't even get round to looking at the transaction). 

Anyway, having made a complaint and received profuse apologies, at least I got a nice bit of compo.

Sticking to making any more transfer via my Chase account in future.

So HSBC to Chase and then Chase to Zopa should be a possible route in the future, do Chase allow standing orders to be set up?

They do - -  provided you manage to open an account with them in the first instance. If you are on iOS, it's probably plain sailing but on Android you need a 64-bit phone.

Starling or Santander are other options - although as has been mentioned, all bank might hold up large transfers. I am quite impressed with the way Starling are handling payments they put on hold - - they tell you immediately, and ask you half a dozen questions in the app. So you can answer them straight away, and that is normally good enough for the payment to be released within 2-4 hours. They also message you when the payment has been made. Santander: they block your entire online & app access and it can take days before you hear from them, if ever. BUT you can call their Security team on 0800 151 3151, and after half an hour of interrogation, they lift your block and you can make the payment. Neither Santander nor Starling have blocked my Zopa payments a subsequent time.

ZeroSum

Shedman said:

Same issue occurs with First Direct (which given they are part of HSBC group probably isn't a surprise) even though again you've spoken to them and confirmed and cleared a previous held transfer to Zopa account only the day before.

So you make another transfer the next day thinking it should all go through OK and then that gets held.   What is frustrating is when they don't eventually reach out to you to get you to confirm the transfer, even though you've spoken to CS to check if any flags on the transfer and are told there aren't, and then they just reverse it at the end of the day (as it transpires, as indicated by the complaints team, the fraud team are so 'overstretched' they didn't even get round to looking at the transaction). 

Anyway, having made a complaint and received profuse apologies, at least I got a nice bit of compo.

Sticking to making any more transfer via my Chase account in future.

And yet we're constantly told how great FD are 
Their following is very cultist mind.

gt94sss2

Everyone's experience differs.

My worst experience has been transfering money from Chase to an external account.

Despite it being the only external account linked to my Chase account and which I had used several times before - Chase started asking for a security check each time - and at their worst it took 4 days to process a payment.

MichaelAP

From NatWest To ZOPA:  When requesting money from within the ZOPA App using Truelayer it works seamlessly.

Sg28

I had a nightmare with FD and zopa. After the money didnt appear FD initially told me payment had been made and to check with Zopa. Zopa obviously said nothing was received. Eventually FD told me at had actually been blocked. 

Subsequent payments now seem to be going through ok.

Daliah

MichaelAP said:

From NatWest To ZOPA:  When requesting money from within the ZOPA App using Truelayer it works seamlessly.

I'm afraid, that's a misleading generalisation. Yes, the whole point about Truelayer is the seamless integration between Zopa and any bank that supports Open Banking, but this doesn't mean your payments will never get held up. The bank's fraud algorithms will still kick in. 

clowning

I opened a Zopa smart saver on Friday evening and linked my HSBC acc. Transferred £50 via truelayer with no problem. Tried yesterday to transfer £10,000 and had problems with the app. I rang and spoke to a customer service rep who, after asking a few questions, said he would make the transfer. - subject to fraud checks. I got a call from HSBC this morning asking about the transfer. He went through some questions and a spiel about people asking me to make a transfer, scams etc (which he appeared to be reading) then said he would make the transfer. It was confirmed within 10 mins. Not too bad really.

cedge43

clowning said:

I opened a Zopa smart saver on Friday evening and linked my HSBC acc. Transferred £50 via truelayer with no problem. Tried yesterday to transfer £10,000 and had problems with the app. I rang and spoke to a customer service rep who, after asking a few questions, said he would make the transfer. - subject to fraud checks. I got a call from HSBC this morning asking about the transfer. He went through some questions and a spiel about people asking me to make a transfer, scams etc (which he appeared to be reading) then said he would make the transfer. It was confirmed within 10 mins. Not too bad really.

Only if you don't need to transfer regularly....

john95346

I've been with Zopa for donkeys for P2P and also a fixed savings account I took out nearly two years ago. I opened a Smart Saver on Saturday. The first two test payments went through fine (although I had the same problem with Faster Pay or whatever it's called as mentioned elsewhere). But then I made my first 'substantial' transfer, and of course, my bank's fraud algos kicked in.

Or at least, so I discovered after spending half an hour trying to get through to them yesterday (Barclays). I eventually spoke to someone very friendly and helpful in their fraud department. He apologised that I hadn't been told the reason the payment was held up, and assured me I would have been at some point during the day. Hmmm...

Anyway, he released the payment (after going through his routine). And assured me I should have no more problems.

I tried sending another payment this morning (moving in chunks). And of course it got held up. At least this time the online banking told me.

The first payment that got held up, I'd made via my phone app. It gave me no warning that it was going to be checked. The 'regular' browser based online version did warn me.

I'll give them till this afternoon to contact me (or otherwise release it). Before doing battle with their woeful phone service.

I appreciate the banks being so careful (although it's their own backs they're covering). But they have to back this up with letting the genuine payments go through as soon as possible. And not making it so hard to contact them.

adindas

Is it possible to open and manage Zopa smarter account without using banking apps ??