L&G refusing me my pension due to the bank that I use.

Emmia

(Removed by Forum Team)

 I (like everyone on this thread) have tried to help you with practical solutions to your issue - although "a manager" at L&G is assisting so you're clearly expecting to get your own way... (why did you bother posting the thread if that's case).

Running a separate bank account isn't difficult, and you can just set a standing order every month from that account to move the money into your preferred account.

To get the "experience" type posts you seem to be seeking, you need to actually name the bank that L&G have difficulty with.. This might flush out forumites who've overcome the issue, or the reason for L&Gs reluctance (and even with a manager involved, it might still be "no" to your bank). 

I note the point/irony that you'll name the pension provider, but not your bank for privacy reasons. 

eastcorkram

The question, is it legal, has already been answered. It is. 
You ask if anyone has a similar experience. I do, but I've absolutely no idea how you learning that is any help. 

[Deleted User]

I thought posting here might be helpful. I hoped that a pensions forum might attract some people with pensions experience and knowledge. And I thought that posting about this issue might also help anyone else looking on this forum who was experiencing something similar. And for that 2nd reason I will leave my OP and my update up.

However, my 'aggression' is because all but one response has not addressed my OP, and that is rude. It is rude not to listen to someone, to ignore the question asked and to instead offer advice not asked for and not needed.

Some of you want to tell me how to 'fix' it, which is kind and I do appreciate the good intentions. To those people I apologise if I came across as rude.  Yes I could open a new bank account - but I don't need to as L&G are dealing with it, very well as it turns out. 

Others of you have just been sarcastic and rude from the off, which seems to stem from you taking offence that I don't want to reveal the name of the bank. I'm puzzled why this offends people so much - it's a fairly basic security thing.  If you feel that this means you can't help, then just don't help, There is no need to be rude and sarcastic. Also, no you can't look it up online as my bank account isn't in the name of Deleted_User.

So apologies to the nice people who I have unintentionally been rude to. But not to the rude people who I have been rude to.

Thank you again to Ryan.

As a general thing - it is a bit rude not to read an OP properly, and it's quite patronising to give advice not asked for.

theoretica

Deleted_User said:

UPDATE:

The manager dealing with this at L&G has been in touch. She is very helpful. She acknowledges that this is a problem and it's not one that L&G are happy about either. The situation arises because of L&G use a credit checking (Lexus Nexus) company to verify my bank account, and Lexus Nexus use two other credit checking companies (names unknown), and those companies have lists of 'accepted' banks. They do now know what the criteria for being an 'accepted bank' is, but L&G are trying to get my bank added to this list for the longer term issue, and they are still working on the short term issue. I am impressed with the seriousness with which they have taken the issue, and with the way they are dealing with it.

This new information changes my thoughts slightly. Why is a credit-check company able to dictate what banks people can and can't use? It is the regulatory body that decides what is and isn't a proper bank. If a credit-check company can pick and choose which bank accounts it will verify this leaves them wide open to corruption. And it does rather fly in the face of an economy that is based on a free market and fair competition.

If anyone has any experience of similar issues, or knowledge about the legal issues involved I would like to hear from you, please do post.

But from here on I will have to ignore the personsplaining. I don't need advice on fixing this - I am doing pretty well on that thank you. I am interested in experiences and views on questions above, and in the OP.

Or it could be the other way round - not the credit-check company deciding not to deal with the bank, but the bank not dealing with that credit-check company. 

It seems a similar pain to places not accepting American Express - which certainly used to be legal and I haven't noticed that it changed.

Pat38493

If you look through some of the threads on this board, you will find quite a few examples where people received advice that they did not ask for, but were then happy to receive it because it was relevant to the question they were asking and they then realised that what they were thinking of doing was a bad idea, even if it could be done.

Sometimes people are asking the equivalent of, if I jump off this tall building, will any harm come to me from the wind while I am flying through the air.  Please do not offer me any other comments or advice just a yes or no answer will be fine.

[Deleted User]

@theoretica. Good point, yes it could be - I have contacted the bank about it as well.

I think the bigger problem that I have with it is not  so much that they do it (although that is frustrating) but they don't tell you about it anywhere before you give them your money. So you transfer your pension, pay their fee and then can't get at it. But they have acknowledged that this isn't good enough and have said they are going to put something on the website or T&Cs about it.

[Deleted User]

@squrrelpie. Sadly I do - hence my short fuse. Silly me. Love your name.

retiringtoosoon

Which bank is it?

GrubbyGirl_2

Deleted_User I am really curious as to why you won't name your bank, it just doesn't make sense when you're looking for help?  You are completely anonymous on here, nobody knows your name, where you live or even if you're a man or a woman.  According to L&G's web site they have 10 million customers, so I guess that narrows it down a bit!

Naming your bank account is not going to risk you being exposed to fraud or exploitation.

I have my main bank account with Lloyds, I also have a Zopa, Marcus, Shawbrook and Paragon accounts.  By telling you that I have not exposed myself if any way and in my case my username at least tells you want gender I am!!

All you've said is you're not willing to say, but please explain why as you must have a reason?  By naming your bank you could be helping someone else.

penners324

You're using a bank that doesn't report to any CRA. Unlikely to be any list, just whether that bank reports to a CRA