Online Banking Woes

[bob_builder]

Originally Posted by bonzoe

Seems to depend on the receiving bank as much as the transmitting bank, if I send a transfer to ING from HSBC it takes 2 days, but ING to HSBC takes 3! As you say a banking con so that they can lend the money to business at no cost to themselves.

That was the main reason that put me off the ING account. You may get 5% interest but because the only way to transfer money in and out of the account is via BACS you would lose a lot of that interest over the period of a year. Also it is not really an instant access account if you have to wait 3 days to get at your money.

So I went for the Nationwide eSavings account that offered a slightly lower interest rate but allows you to transfer money online to your FlexAccount and then take that money out from the nearest cash machine on the same day!
(Interestingly, I notice the Nationwide now offers the same 5% rate - no pun intended!)

Originally Posted by bob_builder

That was the main reason that put me off the ING account. You may get 5% interest but because the only way to transfer money in and out of the account is via BACS you would lose a lot of that interest over the period of a year. Also it is not really an instant access account if you have to wait 3 days to get at your money.

So I went for the Nationwide eSavings account that offered a slightly lower interest rate but allows you to transfer money online to your FlexAccount and then take that money out from the nearest cash machine on the same day!
(Interestingly, I notice the Nationwide now offers the same 5% rate - no pun intended!)

Hey I have a Nationwide Flexi account too.However my main account is with Barclays.I really must transfer it to Nationwide who are at least open on a Saturday.

[snodvan]

Originally Posted by Chris T

Hooray for online banking from me too. While this discussion has been ongoing, Mrs T has had her debit card refused at B&Q ... she came home to find a letter from Barclays warning of unusual transactions and advising that the card is suspended. I was able to check immediately and see where and when the amounts debited had been spent. Indeed they were dodgy - so Mrs T just phoned Barclays and a very nice lady explained what we had to do to get the money back.

She sends us a form, we detail the fraudulent transactions, we sign (in blood!), we get reimbursed. And because we can do that by referring to our balance online, instead of having to wait for a statement, we hopefully get our money back rather quicker.

She told us that the card has been 'used' (unsuccessfully, thank goodness) half a dozen times since it was suspended, in the West Herts/Northwest London area. Apparently what's likely to have happened is when Mrs T paid for something in a shop, some unscrupulous shop assistant took a second swipe of the card. How they managed to then use that without actually having the card in their hands is beyond me.

We're going to get it back, but I didn't need £200-odd to go missing from my current account right now!

I had a similar experience of "card suspended because of possible compromise" a week or so ago - but unfortunately I could not check my HSBC Mastercard transactions on-line because it is a Business card. For some reason HSBC has never been able to explain properly you cannot have on-line access to a Business Mastercard . Never mind. I just cancelled the Business Mastercard and opened a second private Matercard account that I will use only for Business. The only difference is that the card is no longer embossed with the name of my sole-trader business.