Shawbrook Bank - Ignores undelivered maturity emails- assumes you've received them.

happybagger

Excellent. So you have followed the complaints procedure and we can put this to bed on here, and you can update us all when you have the Ombudsman's ruling.

masonic

The email is just a reminder to check your online messages, so failure to keep it updated merely means you won't get that reminder (which may in any case not be received from time to time, as are the vagaries of the internet).

Your actual notification is deposited in your inbox of your online account, to which you can access at any time regardless of whether they hold the correct email address for you.

FOS is only able to consider complaints about regulated activities, so this email non-delivery issue might not be in scope, as regulated communications should never be made by email. It will be interesting to see how they respond.

HUMBUG

I think another interesting point regarding bounced emails is the security aspects. So it seems some banks, who don't action on undeliverable emails, have excused themselves of any security issues that may be related to bounced emails. 

It's never occurred to me before but maybe I should consider some of the email security aspects when choosing some of these online banks . Their interest rates are obviously better , but I think I'd prefer a bank that has some follow-up action as per below.

Anyhow , I will know more from those 9  banks I've already contacted . If they have follow-up procedures for returned email, I might opt for them instead.

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Banks can and often do take action on undelivered emails, particularly when related to physical mail (letters) being returned undelivered. Banks may freeze accounts, restrict access, or take other measures to prevent fraud or security breaches when mail addressed to the account holder is returned, as this can be a red flag. 

Here's a more detailed explanation:

Frozen Accounts:

Banks may freeze an account immediately if mail, such as statements or notifications, is returned undelivered. This is a precautionary measure to prevent unauthorized access or fraudulent activity. 

Restrictions on Transactions:

Banks may also restrict certain types of transactions or access to the account until the issue with the mailing address is resolved. 

Security Measures:

Banks take these actions to protect their clients and themselves from potential fraud or security risks. Undelivered mail can indicate a potential address change that has not been updated, or it could be a sign that the account is being targeted by scammers. 

MeteredOut

You really need to stop relying on AI to make assertions. It can and does get things wrong - it basically crowd sourcing information from all sources made available to it as part of its model - and that includes large parts of the internet containing wrong or misleading information.

I'm not saying what you've pasted above is wrong, but you cannot assume it is correct without verification.

The response you've received seems mainly to be based on paper mail too, not email. I've certainly never heard of a bank freezing an account because it received an email bounce-back.

Hoenir

HUMBUG said:

I might opt for them instead.

Companies themselves can choose who to conduct business with. Relationships are two way. 

HUMBUG

MeteredOut said:

You really need to stop relying on AI to make assertions. It can and does get things wrong - it basically crowd sourcings information from all sources made available to it as part of its model - and that includes large parts of the internet containing wrong or misleading information.

I'm not saying what you've pasted above is wrong, but you cannot assume it is correct without verification.

Yes , your correct as I've had AI give me nonsense answers before but it does seem to make some sense that banks might have some security measures in place.  As I said before , I am awaiting replies from 8 out of the 9 'banks/building societies' I've contacted , so I'll know more.

Barkin

HUMBUG said:

Anyhow , I will know more from those 9  banks I've already contacted . If they have follow-up procedures for returned email, I might opt for them instead.

You do remember what Shawbrooks initially said, when you first queried this with them?

masonic

Surely security issues can only arise through someone acting on a malicious email. Not acting on an email (including an apparent bounce) is safer from a security perspective.

HUMBUG

Strange that Shawbrook still haven't submitted their final reply as I was expecting it a few hours ago. A straightforward letter saying:

1. I was responsible for not updating the correct email address .
2. They are not obliged to action on undelivered emails.
3. They are not responsible for any potential loss of interest due to my maturity inaction.
3. This is their final reply and if I am unhappy can escalate to the FOS.

masonic

Banks would normally send a final response letter to your registered address by snail mail.