LLoyds and AML/Fraud checks ....

Wanting to move max £20K to ISA in partners name .... (Charter - already opened but not yet funded....)

Linked account is a Club LLoyds  - otherwise 'unused', except for monthly cycling of £1750 to cover mimimum account funding (from my account....)

Easy to get the 20K into the LLoyds but wondering whether to 'stagger' payments from LLoyds to Charter into smaller chunks (5K?...) to try to avoid any payment stoppages/account blocks as there is a 30 day payment window for the Charter account. Have recently suffered several 20K blocks/checks so just trying to minimise disruption!
I realise that ANY payment could be subject to the checks but just wondered what experiences were with LLoyds .....

Replies

  • edited 23 November 2022 at 1:04PM
    refluxerrefluxer Forumite
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    edited 23 November 2022 at 1:04PM
    Easy to get the 20K into the LLoyds but wondering whether to 'stagger' payments from LLoyds to Charter into smaller chunks (5K?...) to try to avoid any payment stoppages/account blocks as there is a 30 day payment window for the Charter account. Have recently suffered several 20K blocks/checks so just trying to minimise disruption!
    I have no experience of how LLoyds operate but when I last spoke to someone at my bank about a payment that was stopped due to their fraud checks, they asked why I was making multiple payments because I could have made them all in one (as the total I needed to send was under their daily faster payments limit) and when I explained that I had split the payments into smaller chunks (for the reasons you described) he explained that this was actually more likely to trigger their anti-fraud measures than one larger, single payment.

    The one thing we can probably say for certain though is that these stoppages can be quite random due to the nature of the problem they're trying to tackle, so there are unlikely be any hard and fast rules for getting around the problem that will apply from one person to the next or across different banks.
  • DescrabledDescrabled Forumite
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    My usual method is to make one laege payment if possible, remembering that maximum total payment is £25k per day.  Whenever a payment is blocked by Lloyds (and Halifax or BOS) then just ring the fraud line and wait it out. My waits are usually about 30 mins and the people are usually nice to chat with.  Why worry about it?
  • km1500km1500 Forumite
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    I had a payment blocked. Called fraud team - needed to identify me so they asked a series of questions. Date account opened - no idea it was years ago. Ok then - what company are you a director of? Huh - none. Failed - account and internet access blocked. Turns out I am a director of a company - the management company that manages my flat - we are all directors. Next time I will write a cheque.
  • edited 23 November 2022 at 4:07PM
    Wheres_My_CashbackWheres_My_Cashback Forumite
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    edited 23 November 2022 at 4:07PM
    LBG initiate checks  in a very ad-hoc random way. I've had 2 payments blocked recently both for sending funds to external accounts of my own. I don't really mind the checks, however frustrating they are. Online access will also be blocked at the same time across the whole of the LBG platform, yet in error (they're admission) they failed to tell me or check.

    What I absolutely detest is the amount of time it takes to get resolved. Each occasion it has taken me approx 1.5hrs to resolve due to very lengthy call wait times, the errors and poor customer service for which I have complained and received over £130 in goodwill payments. I'd rather they didn't block the payments or at least employ enough staff to answer the calls quickly, which they have admitted is the cause of the problem.
  • edited 23 November 2022 at 5:08PM
    steveksullivansteveksullivan Forumite
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    edited 23 November 2022 at 5:08PM

    What I absolutely detest is the amount of time it takes to get resolved. Each occasion it has taken me approx 1.5hrs to resolve due to very lengthy call wait times, the errors and poor customer service for which I have complained and received over £130 in goodwill payments. I'd rather they didn't block the payments or at least employ enough staff to answer the calls quickly, which they have admitted is the cause of the problem.

    It's almost as though you have cut and pasted my comments about Santander blocked payments/accounts locked from other threads I've written/commented on .... (my bold in your quote....!!)

    No problem at all with the checks...its the time taken to resolve them....

    My current total in compensation running at probably double yours, but I'd much rather not have the problem in the first place !!!

    Actually seem to have managed to get the first payment through with no block from Lloyds though ..... (15K .....) says it was successfull and still able to log in to the account. Its not going to an 'instant' faster payment bank though, so have to wait until tomorrow to be sure......
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