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wdwedwed

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Comments

  • eskbanker
    eskbanker Posts: 32,513 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Fair enough - it doesn't actually say that fintechs are overzealous as such, but that they "tend to have a higher ratio of complaints per 1,000 customers than the bigger high street names" (according to Resolver data) and also that "Freezing bank accounts and denying consumers access to their money is one of the most complained-about actions taken by challenger banks and money apps" (according to an anonymous senior executive of a UK digital payments app).

    Logically speaking, those two separate comments don't necessarily add up to fintechs objectively and quantifiably freezing more accounts (pro rata), but I agree that authoritative statistical data is unlikely to be available, for obvious reasons!
  • OceanSound
    OceanSound Posts: 1,482 Forumite
    First Post First Anniversary Name Dropper

    Before you start phoning your bank's/financial institution's support line. Have a gander at these posts on another thread:

    By all means call ahead and try, but don't be too surprised if your bank/financial institution refuses to add a note on the system. Could be that the banks/financial institutions have changed their policy on the whole calling ahead.

    I suppose what you could do, as suggested by a forumite is, if the first transfer is blocked, then call support and after unblocking do any subsequent transfers while you're on the phone with support:

    I can suggest a variation of that idea. If you have a really important transfer to make (house purchase etc.), plan ahead, contact support and ask them when the least busiest time to call is. Contact support at that time. Then do the transfer while you have support on the line. If the transfer is blocked, you are on the phone with them there and then for unblocking transfer.

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