Appalling service from Zopa Biscuit a/c

confederated

friolento said:

We weren't talking about card payments here, but payments made by bank transfer.

If you get card after card rejected, there must be a different issue.- though it could be as simple as an unusually high amount. We are quick to complain if card providers don't stop fraudulent use of cards, but also quick when they reject payments.

We were talking about payments from a bank account and fraud algorithms. I think I am allowed to extend the discussion to payments using a card. Is there something in the terms of this forum that prevents me from slightly widening my comments from the initial post? Should we only discuss the particular bank(s) in question and say nothing about what other banks may or may not do? I feel my comments are entirely valid and I'm sorry you don't. Are you a moderator?

Chief_of_Staffy

I had this last week due to some miserable payment to a tradesman. I suspect the reason was because the business had just changed bank providers and the account was new. That's not an excuse, however, as I have no way of opting out of these absurd interrogations under which I must prove I'm not an idiot and don't have dementia.

ColdIron said:

They are just trying to protect your money. Would you feel happy if they paid it and you couldn't get it back or would you be posting that they were reckless?

As above all banks, and Zopa are a bank, can pend payments. Certainly not worth getting angry about

These checks are solely to limit the financial liability of the bank. There is no benefit whatsoever to the account holder. I wish people would stop posting this canard.

confederated

Chief_of_Staffy said:

These checks are solely to limit the financial liability of the bank. There is no benefit whatsoever to the account holder. I wish people would stop posting this canard.

Hallelujah! The voice of common sense! We don't see this very often on here. Most posters seem resolutely on the side of the banks.

friolento

Chief_of_Staffy said:

I had this last week due to some miserable payment to a tradesman. I suspect the reason was because the business had just changed bank providers and the account was new. That's not an excuse, however, as I have no way of opting out of these absurd interrogations under which I must prove I'm not an idiot and don't have dementia.

ColdIron said:

They are just trying to protect your money. Would you feel happy if they paid it and you couldn't get it back or would you be posting that they were reckless?

As above all banks, and Zopa are a bank, can pend payments. Certainly not worth getting angry about

These checks are solely to limit the financial liability of the bank. There is no benefit whatsoever to the account holder. I wish people would stop posting this canard.

There is another canard, namely that banks will not recover their expenses from customers.

TheBanker

Chief_of_Staffy said:

I had this last week due to some miserable payment to a tradesman. I suspect the reason was because the business had just changed bank providers and the account was new. That's not an excuse, however, as I have no way of opting out of these absurd interrogations under which I must prove I'm not an idiot and don't have dementia.

ColdIron said:

They are just trying to protect your money. Would you feel happy if they paid it and you couldn't get it back or would you be posting that they were reckless?

As above all banks, and Zopa are a bank, can pend payments. Certainly not worth getting angry about

These checks are solely to limit the financial liability of the bank. There is no benefit whatsoever to the account holder. I wish people would stop posting this canard.

The bank I work for does these checks. A few weeks ago they prevented a customer with limited mental capacity (which the bank were not aware of) from paying £13k to a "builder" who'd knocked on the door and told him he needed new roof tiles. I suspect that customer, and the family member who is now arranging Power of Attourney, are grateful that the payment didn't go through... 

Chief_of_Staffy

friolento said:

Chief_of_Staffy said:

I had this last week due to some miserable payment to a tradesman. I suspect the reason was because the business had just changed bank providers and the account was new. That's not an excuse, however, as I have no way of opting out of these absurd interrogations under which I must prove I'm not an idiot and don't have dementia.

ColdIron said:

They are just trying to protect your money. Would you feel happy if they paid it and you couldn't get it back or would you be posting that they were reckless?

As above all banks, and Zopa are a bank, can pend payments. Certainly not worth getting angry about

These checks are solely to limit the financial liability of the bank. There is no benefit whatsoever to the account holder. I wish people would stop posting this canard.

There is another canard, namely that banks will not recover their expenses from customers.

I've not heard that one, likely because it represents an irrelevant sum. The money estimated to be prevented by APP fraud annually is in the low £hundreds of millions, far below a single percentage point of banking industry profit. Nobody when asked if they are willing to pay another 20p of bank charges every year in return for no more intrusions, no more interrogations, no more blocking the spend of their 'own money', no hours or days or weeks wasted proving that they are not a criminal, will respond, "No thanks."

Chief_of_Staffy

TheBanker said:

Chief_of_Staffy said:

I had this last week due to some miserable payment to a tradesman. I suspect the reason was because the business had just changed bank providers and the account was new. That's not an excuse, however, as I have no way of opting out of these absurd interrogations under which I must prove I'm not an idiot and don't have dementia.

ColdIron said:

They are just trying to protect your money. Would you feel happy if they paid it and you couldn't get it back or would you be posting that they were reckless?

As above all banks, and Zopa are a bank, can pend payments. Certainly not worth getting angry about

These checks are solely to limit the financial liability of the bank. There is no benefit whatsoever to the account holder. I wish people would stop posting this canard.

The bank I work for does these checks. A few weeks ago they prevented a customer with limited mental capacity (which the bank were not aware of) from paying £13k to a "builder" who'd knocked on the door and told him he needed new roof tiles. I suspect that customer, and the family member who is now arranging Power of Attourney, are grateful that the payment didn't go through... 

Really. Please explain why they are grateful the payment didn't go through, bearing in mind the legal framework within which the bank is mandated to operate in these situations and which, given your username, you'll be fully conversant.

friolento

Chief_of_Staffy said:

friolento said:

Chief_of_Staffy said:

I had this last week due to some miserable payment to a tradesman. I suspect the reason was because the business had just changed bank providers and the account was new. That's not an excuse, however, as I have no way of opting out of these absurd interrogations under which I must prove I'm not an idiot and don't have dementia.

ColdIron said:

They are just trying to protect your money. Would you feel happy if they paid it and you couldn't get it back or would you be posting that they were reckless?

As above all banks, and Zopa are a bank, can pend payments. Certainly not worth getting angry about

These checks are solely to limit the financial liability of the bank. There is no benefit whatsoever to the account holder. I wish people would stop posting this canard.

There is another canard, namely that banks will not recover their expenses from customers.

I've not heard that one, likely because it represents an irrelevant sum. The money estimated to be prevented by APP fraud annually is in the low £hundreds of millions, far below a single percentage point of banking industry profit. Nobody when asked if they are willing to pay another 20p of bank charges every year in return for no more intrusions, no more interrogations, no more blocking the spend of their 'own money', no hours or days or weeks wasted proving that they are not a criminal, will respond, "No thanks."

It doesn't matter how much is attributed to APP fraud (which, as I am sure most forumites know, doesn't include to card transactions) or any other type of fraud the bank reimburses the victims for: in the end it is all paid by the customers. As is the profit a retail bank makes.

friolento

Chief_of_Staffy said:

TheBanker said:

Chief_of_Staffy said:

I had this last week due to some miserable payment to a tradesman. I suspect the reason was because the business had just changed bank providers and the account was new. That's not an excuse, however, as I have no way of opting out of these absurd interrogations under which I must prove I'm not an idiot and don't have dementia.

ColdIron said:

They are just trying to protect your money. Would you feel happy if they paid it and you couldn't get it back or would you be posting that they were reckless?

As above all banks, and Zopa are a bank, can pend payments. Certainly not worth getting angry about

These checks are solely to limit the financial liability of the bank. There is no benefit whatsoever to the account holder. I wish people would stop posting this canard.

The bank I work for does these checks. A few weeks ago they prevented a customer with limited mental capacity (which the bank were not aware of) from paying £13k to a "builder" who'd knocked on the door and told him he needed new roof tiles. I suspect that customer, and the family member who is now arranging Power of Attourney, are grateful that the payment didn't go through... 

Really. Please explain why they are grateful the payment didn't go through, bearing in mind the legal framework within which the bank is mandated to operate in these situations and which, given your username, you'll be fully conversant.

I can think of countless reasons why they are grateful, starting from not having to engage in reclaiming the money, to having to deal with the consequences of the missing money (e.g. would the person with the limited capacity have been able to pay their rent / mortgage / food / medication etc whilst the case was being investigated), and ending with potentially having the claim refused. The APP refund scheme isn't a free-for-all, nor are the refunds instant.

confederated

friolento said:

It doesn't matter how much is attributed to APP fraud (which, as I am sure most forumites know, doesn't include to card transactions) or any other type of fraud the bank reimburses the victims for: in the end it is all paid by the customers. As is the profit a retail bank makes.

Given my current accounts are free of any charges how exactly do I pay for APP or any other fraud?