Santander 2.75% Account

hoc

inflationbuster said:

Everytime l transfer money to Santander it's put on hold for extra security checks. 

Strange. 

Not strange, Santander are known to be paranoid.

Daliah

hoc said:

inflationbuster said:

Everytime l transfer money to Santander it's put on hold for extra security checks. 

Strange. 

Not strange, Santander are known to be paranoid.

It’s highly unlikely that Santander are holding up incoming payments. More likely it’s the sending bank, and due to the fact that banks are now more or less compelled to reimburse APP scams.

I have held accounts with Santander for over 10 years. Never found them to be paranoid, or to hold up incoming payments.

Bigwheels1111

First transfer from FD to Santander of £10 all good.
Had no access, awaiting letters.
So called to check, was told £10 had arrived, I made another payment to round it up to 3k.
Arrived within seconds while on the phone.
Third payment the big one did not arrive.
Got my banks customer service to send it as was over my app limit. Answered all the questions etc.
Still go held / stopped.
Called again and went through the same stuff and they sent the payment.
30 seconds later was in Santander account.

steveksullivan

hoc said:

inflationbuster said:

Everytime l transfer money to Santander it's put on hold for extra security checks. 

Strange. 

Not strange, Santander are known to be paranoid.

Bigwheels1111 said:

First transfer from FD to Santander of £10 all good.
Had no access, awaiting letters.
So called to check, was told £10 had arrived, I made another payment to round it up to 3k.
Arrived within seconds while on the phone.
Third payment the big one did not arrive.
Got my banks customer service to send it as was over my app limit. Answered all the questions etc.
Still go held / stopped.
Called again and went through the same stuff and they sent the payment.
30 seconds later was in Santander account.

As I have reported on SEVERAL threads I have over the last year had HUGE problems with Santanders AML checks, (as I have also frequently said ....I have no problems with the checks/blocks themselves, but I do have a problem withthe time taken to resolve issues with phone queues of over an hour, sometimes hour and a half....)

But as I reported recently, the only INBOUND problem I have had was in fact the fault of the sending bank despite assurances on TWO phonecalls that the money had left them.... it hadn't due to a 'technical' error. (?!?!??)

In my case the sending bank was Shawbrook.....

Silverbullet036

I have only ever sent money from my Santander Select ac to my Lloyds CA. From there I distribute it out to whichever place I want it to go. Never once had an issue with any outgoing or incoming payments to or from Santander

steveksullivan

Silverbullet036 said:

I have only ever sent money from my Santander Select ac to my Lloyds CA. From there I distribute it out to whichever place I want it to go. Never once had an issue with any outgoing or incoming payments to or from Santander

If you always send from Santander to the SAME account (your Lloyds in this case ....) it is quite likely that it wont be blocked.....

They have said to me on several occasions that having had a large amount blocked once to a payee, then subsequently cleared.... future payments to the same payee SHOULD be fine....

However, as all my large amounts are one-off payments to new savings institutiions, very unlikely to be repeated, this is no help whatsoever....!!

refluxer

Silverbullet036 said:

I have only ever sent money from my Santander Select ac to my Lloyds CA. From there I distribute it out to whichever place I want it to go. Never once had an issue with any outgoing or incoming payments to or from Santander

Maybe that could be a work-around for anyone continually having problems with Santander blocking payments - transfer out to an alternative current account first ? Surely repeated payments to one bank are a lot less likely to be stopped than frequent payments to many different external accounts ?

I'm a relatively new Santander customer and, as far as I'm concerned - if they were to block any of my outgoing payments, then it should be them phoning me and not the other way round, but it obviously doesn't sound like Santander operate in this way. I mainly use my Barclays current account for moving money around and when this happens, blocked payments are either released automatically within a few hours (presumably once a few checks have been made), released automatically after I answer a text message or a member of their fraud team calls me back - often the same day but normally by the next day at the latest. I've never had to ring them myself.   

S_uk

Daliah said:

hoc said:

inflationbuster said:

Everytime l transfer money to Santander it's put on hold for extra security checks. 

Strange. 

Not strange, Santander are known to be paranoid.

It’s highly unlikely that Santander are holding up incoming payments. More likely it’s the sending bank, and due to the fact that banks are now more or less compelled to reimburse APP scams.

I have held accounts with Santander for over 10 years. Never found them to be paranoid, or to hold up incoming payments.

On an episode of Rip Off Britain the other day they were looking at this issue and highlighted the banks/building societies with the highest overturn rate in the cases of APP fraud cases that went to the Financial Ombudsman. Nationwide had the highest/worst figure of 90%, whilst HSBC, Santander and Natwest were also over 75%. I was actually quite surprised how high those figures were.

Daliah

steveksullivan said:

As I have reported on SEVERAL threads I have over the last year had HUGE problems with Santanders AML checks, (as I have also frequently said ....I have no problems with the checks/blocks themselves, but I do have a problem withthe time taken to resolve issues with phone queues of over an hour, sometimes hour and a half....)

I think Santander might have implemented new processes & functionality (at least in the app) for checking new payees. When I set up a new payee yesterday, for a 5-figure payment to another High Street bank account of mine, the app asked me a whole host of questions about the payment and about the payee that I never got asked before. The payment then went through instantly without further checks. I hope this wasn't a one-off but a major improvement in the way they conduct extra checks.

Starling Bank have a similar approach though do still hold your payment for an hour or two.

kaMelo

And precisely because of that banks will block more and more legitimate payments making life more onerous for everyone.

Be careful what you wish for.