Computer says nooo..........
Discussion
Went along to my bank today for what I considered to be a simple transaction. I had a 7.00% monthly saver account which I wanted to close – simple enough. I think the girl’s name was abbey ;)
Me: I would like to close my account and transfer the balance to my current account.
Abbey: Computer says noooo.
Me: Why?
Abbey: We can only give you a cheque.
Me: Fair enough, write the cheque and pay it in, I presume it will be cleared funds?
Abbey: Computer says noooo
Me: why?
Abbey: Because it has to clear.
Me: But it’s your cheque and you know the money is there it can’t bounce so it must be cleared?
Abbey: Computer says noooo.
Me: Can you please get the manager?
Manager: How can I help?
Me: Story again…
Manager: Computer says noooo.
Me: Why.
Manager: It’s how it works.
Me: Are you saying your cheque might bounce then?
Manager: Noooo.
Me: Does any of this make any sense to you?
Manager: Noooo.
Manager: Is there anything else I can help you with?
Me: [b]"Computer says noooo"[/b]
How daft is that? Anyone working in the banking world care to explain how this makes any sense?
Me: I would like to close my account and transfer the balance to my current account.
Abbey: Computer says noooo.
Me: Why?
Abbey: We can only give you a cheque.
Me: Fair enough, write the cheque and pay it in, I presume it will be cleared funds?
Abbey: Computer says noooo
Me: why?
Abbey: Because it has to clear.
Me: But it’s your cheque and you know the money is there it can’t bounce so it must be cleared?
Abbey: Computer says noooo.
Me: Can you please get the manager?
Manager: How can I help?
Me: Story again…
Manager: Computer says noooo.
Me: Why.
Manager: It’s how it works.
Me: Are you saying your cheque might bounce then?
Manager: Noooo.
Me: Does any of this make any sense to you?
Manager: Noooo.
Manager: Is there anything else I can help you with?
Me: [b]"Computer says noooo"[/b]
How daft is that? Anyone working in the banking world care to explain how this makes any sense?
they dont hav eto pay you interest for the extra tim eit takes to 'clear' and they get to keep the money fo ran extra 3 days....actaully takes about 5 minutes to transfer funds , even between banks including the need to 'clear' them, a hold over from purely check days of banking...robbery...
Know the feeling.
Due to poor finances in the past no chequebook or card etc. So given a very basic account.
Place cheque into bank for £xx,xxx! and ask for a chequebook .... No you do not have enough status! What even after placing £xx,xxx? No sorry.
Joke!! bring back Bank managers. They are all advisers for the main branch now.
Due to poor finances in the past no chequebook or card etc. So given a very basic account.
Place cheque into bank for £xx,xxx! and ask for a chequebook .... No you do not have enough status! What even after placing £xx,xxx? No sorry.
Joke!! bring back Bank managers. They are all advisers for the main branch now.
funinthesun said:
actaully takes about 5 minutes to transfer funds , even between banks including the need to 'clear' them, a hold over from purely check days of banking...robbery...
I have an e-saver account with them and a current account. I can transfer money in either direction from either a cash machine or the net in seconds and both balances are cleared funds at all times.
Work that out!
To55ers
I think this is to do with Anti-Money Laundering Law and Fraud prevention.
If you remove the cash from an account and pay it into another then is it essentailly "clean" and as such there is a time delay.
A similar thing happens with Barclays Online Banking. Transfer from one Barclays account to another has a time delay to prevent fraudulent transactions.
The reason Abbey wanted to give you a chequ was so that it could be paid in and subjected to the checks required by law. Daft, but blame the government and not the Banks.
If you remove the cash from an account and pay it into another then is it essentailly "clean" and as such there is a time delay.
A similar thing happens with Barclays Online Banking. Transfer from one Barclays account to another has a time delay to prevent fraudulent transactions.
The reason Abbey wanted to give you a chequ was so that it could be paid in and subjected to the checks required by law. Daft, but blame the government and not the Banks.
Ribol said:
Take out all but £1 as cash and then let them send you a cheque to close the account with the remaining £1
You cannot draw out cash if you do not have cleared funds.
Lets go round again...............
Surely the money has been in your account for a while, ergo it is cleared?
BliarOut said:
Surely the money has been in your account for a while, ergo it is cleared?
Yes - exactly my argument.
Just spoken to head office-
If you have cleared funds in your own bank account, you walk in to your branch, get them to write a cheque payable to you, pay it in to that same account there and then it will not be cleared funds until whatever number of days it takes to clear a cheque.
I realise this is a pointless waste of time but I just think it's f*****g stupid. We have finally reached the point where people are no longer allowed to think and common sense plays little or no part in day to day life.
cotty said:
I have a current account, a savings acount, credit card and an ISA with my bank and have no problems transfering cash from one account to another.
I have the same with this mob, I can tranfer anything I want on the net or at a cash dispenser - all cleared balances update real time. This is why this whole thing is so stupid.
Ribol said:
Me: I would like to close my account and transfer the balance to my current account.
Abbey: Computer says noooo.
Me: Why?
Abbey: We can only give you a cheque.
What if you wanted the money buy something, are they saying that they would not give you cash. I find that a bit strange
Ribol said:
I have a current account, a savings acount, credit card and an ISA with my bank and have no problems transfering cash from one account to another.
I have the same with this mob, I can tranfer anything I want on the net or at a cash dispenser - all cleared balances update real time. This is why this whole thing is so stupid.
I dont get it if you can do this, why are they offering you a cheque
Ribol said:
Surely the money has been in your account for a while, ergo it is cleared?
Yes - exactly my argument.
Just spoken to head office-
If you have cleared funds in your own bank account, you walk in to your branch, get them to write a cheque payable to you, pay it in to that same account there and then it will not be cleared funds until whatever number of days it takes to clear a cheque.
I realise this is a pointless waste of time but I just think it's f*****g stupid. We have finally reached the point where people are no longer allowed to think and common sense plays little or no part in day to day life.
Just get them to pay it to you as cash over the counter..... And then pay the cash back into the other account. It's cleared funds then.
Close the old account once it's only got £1 in it.
cotty said:
I dont get it if you can do this, why are they offering you a cheque
You don't get it - do you think I do?
The account I closed left me with a cheque of £xk. They printed it out there and then payable to me, they paid it in to my current account. At that point it is not cleared funds although the funds from the account were cleared funds before they closed it.
I have money in another one of their accounts, if I tranfer money from that on the net to the same current account, I can walk in to the branch 5 minutes later and walk out with the cash.
I think what people are saying is:
Don't close the account, withdraw the money as cash except for 1 pound. Then pay it in as cash : presto, funds are cleared. Then post a turd in a box to their head office.
I think people are missing the main point - if the funds aren't cleared for 4 days, that's 4 days they are guaranteed to have your money to invest. It is pure greed. There is no reason why they can't transfer it immediately. Electronic transfers to pay my CC bill (all online) take *5 WORKING DAYS*! No reason for this at all other than screwing you over
Don't close the account, withdraw the money as cash except for 1 pound. Then pay it in as cash : presto, funds are cleared. Then post a turd in a box to their head office.
I think people are missing the main point - if the funds aren't cleared for 4 days, that's 4 days they are guaranteed to have your money to invest. It is pure greed. There is no reason why they can't transfer it immediately. Electronic transfers to pay my CC bill (all online) take *5 WORKING DAYS*! No reason for this at all other than screwing you over
Ribol said:
Just get them to pay it to you as cash over the counter.....
you cannot draw cash if it is not cleared funds, the cheque they have written me has not cleared yet. (Although the money in the account they closed was cleared funds)
Don't close the account then! Just make a cash withdrawal!Gassing Station | The Pie & Piston Archive | Top of Page | What's New | My Stuff