Shawbrook Bank - Warning

dinger

SJMALBA said:

This all sounds rather strange. Shawbrook's help pages say that they will only accept money from/pay money out to one nominated account, yet you say you've paid money in from a number of accounts? Is this why the problem has arisen? Have you tried phoning Shawbrook?

FWIW, from their help pages:

https://help.shawbrook.co.uk/hc/en-gb/articles/10953614174866-Who-are-Consents-Online

Thanks for that. The withdrawal is back to my nominated account and I have not changed that. In the email about contacting Consents Online (see other Shawbrook thread I started) there are two links, one leads to an expired page and the other, apparently, from a member, here gets flagged up by Malwarebytes. There are two different fonts used in the text and the grammar is poor! However, I have had a secure message informing me that I would be getting the email.

 I will give them a ring when I get home from work tomorrow.

PS It is noted that they do not indicate what data they mine!

poppystar

dinger said:

Vpoppystar said:

If you’ve been with them for so long and only now have an online account I’d be speaking to them about how you can get access to the money some other way - presumably you could do that with the older accounts? I personally wouldn’t want to agree to the open banking to do this verification. I don’t see why you should have to. I’d also then quit Shawbrook no matter how long you’ve been loyal!

This is my first account with them. It is disgusting, I would never have begun the application if I knew I was going to have to consent to a third party accessing my current account. Who would give their login details to anyone never mind a third party and allow them to mine data from their current account!! There was nothing stipulating this in the key product information or on the website. I would now advise everyone who is opening a new bank account to ask if there is any requirement to accept opening banking in order to use the account and if the answer is yes, run a mile!

My misunderstanding - I thought when you said you’d been with the building society since 1987 you meant Shawbrook, was a bit surprised as I thought they were a newer institution.  If your nominated account is with a building society not a bank that may be why they want this extra check or is it a current account? 

SJMALBA

poppystar said:

dinger said:

Vpoppystar said:

If you’ve been with them for so long and only now have an online account I’d be speaking to them about how you can get access to the money some other way - presumably you could do that with the older accounts? I personally wouldn’t want to agree to the open banking to do this verification. I don’t see why you should have to. I’d also then quit Shawbrook no matter how long you’ve been loyal!

This is my first account with them. It is disgusting, I would never have begun the application if I knew I was going to have to consent to a third party accessing my current account. Who would give their login details to anyone never mind a third party and allow them to mine data from their current account!! There was nothing stipulating this in the key product information or on the website. I would now advise everyone who is opening a new bank account to ask if there is any requirement to accept opening banking in order to use the account and if the answer is yes, run a mile!

My misunderstanding - I thought when you said you’d been with the building society since 1987 you meant Shawbrook, was a bit surprised as I thought they were a newer institution.  If your nominated account is with a building society not a bank that may be why they want this extra check or is it a current account? 

https://help.shawbrook.co.uk/hc/en-gb/articles/5616083749650-What-is-a-nominated-account-

'Your nominated account needs to be a UK bank or building society account that can make and receive electronic payments (including faster payments, BACS and CHAPS). You need to be a named party on this account.'

masonic

Seems to be a combination of using multiple accounts to make deposits, and sending from a non-mainstream current account that has resulted in the need for extra checks in this case. The vast majority of people would not find themselves in this position. Though if they did, they could start a thread here to ask questions about Open Banking, rather than starting from a point of significant distress due to simple misunderstandings.

housebuyer143

When I first used Shawbrook no one really knew what was going on. They accepted my money and then told me they could not verify my account and that they would return it to me... then when I called they said that they would not return it and the letter was wrong but that they should not have accepted it... someone else said they accept payments from multiple accounts and that's okay. Basically everyone I spoke to just made things up.
Verified my account with open banking (although you can send a bank statement if you ask) and then put a formal complaint in for my time wasted and I got £75.

So basically, do as they ask then complain and you might get some money

dinger

housebuyer143 said:

When I first used Shawbrook no one really knew what was going on. They accepted my money and then told me they could not verify my account and that they would return it to me... then when I called they said that they would not return it and the letter was wrong but that they should not have accepted it... someone else said they accept payments from multiple accounts and that's okay. Basically everyone I spoke to just made things up.
Verified my account with open banking (although you can send a bank statement if you ask) and then put a formal complaint in for my time wasted and I got £75.

So basically, do as they ask then complain and you might get some money

LOL, pleased to hear you got rewarded for being messed around!

dinger

masonic said:

Seems to be a combination of using multiple accounts to make deposits, and sending from a non-mainstream current account that has resulted in the need for extra checks in this case. The vast majority of people would not find themselves in this position. Though if they did, they could start a thread here to ask questions about Open Banking, rather than starting from a point of significant distress due to simple misunderstandings.

I hope to have some empirical evidence at the end of the week to either add some validity or otherwise to your first sentence. Stay tuned.

In regard to the rest of your post. If the fictional person you refer to found themselves in distress owing to simple misunderstandings they could just start a thread here and ask for help rather than warn people about Shawbrook like I have done. They could even expand upon that and start a new thread to warn people that what they were experiencing was a result of the partial effects of "Open banking" .

Miser1964

Consents.online is owned by Equifax, so aren't a scam outfit. The .online top-level domain may make Malwarebytes unhappy but the organisation is legit.

TBH I can't see that Shawbrook is doing anything wrong here. Of course it's the OPs choice to close accounts etc.

cretaceous

There's no excuse for the sloppy English in those Shawbrook emails. If they can't put a comma in the correct place I'd worry about decimal point placement. I too have an account with them but not sure I'll stay.

pistonbroke1

Just to add to the discussion - I recently applied for their new Issue 36 savings account and have now been asked to provide verification of this account by 1. providing a bank statement (not internet printed) 2. providing scan of my debit card, 3. a blank cheque and 4. a pre-printed paying in slip bearing my name. Ok, so by contacting my bank I can order a cheque book and statement of account which will take up to 10 days to arrive!  Of course, I can provide details of my debit card. 

Problem is, like many other financial institutions now, they do not provide printed paying in slips!   Shawbrook have stated they will close my account if the required verifications are not received within 14 days!   I have asked for advice from Shawbrook!    

I note that they are quick enough to accept credits to the new account once opened, before seeking the verifications of the nominated account - so , I cant access any funds until this is settled.

NB   I have had also his problem with Aldemore Bank previously!