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RBS - confidential policy
Comments
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When I open a new current account, a few transactions that are perfectly normal for me are rejected. It's happened with Starling, Triodos, Co-operative Bank, Santander and TSB. All were simply paying into my credit card accounts elsewhere. Such a palaver. I've been with RBS in Child & Co guise for years, and once my account was established I've had only one transaction queried. I'm moving money around all the time and it still doesn't trigger anything. I would have thought the algorithm would be somewhat personalised, picking up on transactions which are unusual for a particular customer - so the more the bank sees you making certain types of transactions, the more chance there is of not flagging them as potential fraud.
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The algorithm almost certainly takes previous transactions into account. In particular, if you have a history of paying your dentist large sums of money, the algorithm is likely to take that into account. You can move your account, but your transaction history does not go with you.
I am in the process of switching from a Barclaycard Rewards Credit Card to a Nationwide Member Credit Card, which I am hoping will simplify matters for me.
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Haven't paid such a large amount to the dentist for years, perhaps during COVID years. Account is a Drummond's branded if it makes any difference. Anyway, thanks for the replies.
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Last time I had an impressive dentist bill coming up I took the opportunity to take out one of those higher-end Amex card deals where you have to spend x thousand in the first three months for y hundred bonus.
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"If you have a history of paying your dentist large sums of money, the algorithm is likely to take that into account."
Which is bizarre in itself. A history of large dental payments is clearly extraordinary, whereas a one-off large payment is normal.0 -
Not good for the banks; irrelevant to the customer.
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I had a tooth missing on my upper jaw, but it did not cause me any problems. I then had a problem with a nearly opposing back tooth on the lower jaw. I had a root canal to fix that, but it gave problems. I had a remedial program for the root canal. That failed. The tooth had to be removed. Two missing teeth gave me problems. I could not have an implant to replace the back tooth immediately, so I had a bridge to replace the missing tooth on the upper jaw. I hoped that would be enough, but it was not. I had an implant to replace the other missing tooth as soon as I could. I spent about £5,000 overall in one year.
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That's my point. It's unusual.
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Yes, that is unusual and I hope it never happens again. Nonetheless, most people who use private dentists will have had previous treatments, and the bank's algorithm should take that into account if it has visibility. I had previous treatments with the same practice and had paid with the same card. I could have issues with my new card if I suddenly have big dental bill. That would not be a significant problem for me though.
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I know everyone has different policies regarding payment for bills and services, but perhaps a credit card payment for instances like this is the better option. Mrs UKX and myself pay almost everything by cc and so far haven’t had anything declined. Just a thought.
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