On line banking- how secure?
Discussion
I have been a Nationwide Flex Account holder for as long as I can remember. Five years ago I retired and spend most of my time overseas. Now, I only have four pensions, one government and three private, paid in each month. I use on line banking to transfer funds from my Nationwide UK account into my overseas account every three months, using the "card holder" to verify my security.
Six months ago I processed an overseas payment, then waited and waited, but no funds were transfered. I was down to my last few hundred Baht, and still no money in my account!
After ringing the "help desk" I was told they had mislaid my instructions, apologised, and actioned the transfer the same day. They also waived the fee as a compensation.
Six months on and I did the same process last friday. Still today, no funds have been transfered, despite their claim to action requests the same working day.
A call to the Nationwide "help desk" I am told to hold on.................This is an overseas call at big expense to me.
Eventually I am told they cannot get a response from the overseas desk, take my number and will ring me back. That was six hours ago, but still nothing.
These are people who get paid exhorbitent salaries and subsidised mortgages, using my money!!
For bankers.....read w
kers!
Six months ago I processed an overseas payment, then waited and waited, but no funds were transfered. I was down to my last few hundred Baht, and still no money in my account!
After ringing the "help desk" I was told they had mislaid my instructions, apologised, and actioned the transfer the same day. They also waived the fee as a compensation.
Six months on and I did the same process last friday. Still today, no funds have been transfered, despite their claim to action requests the same working day.
A call to the Nationwide "help desk" I am told to hold on.................This is an overseas call at big expense to me.
Eventually I am told they cannot get a response from the overseas desk, take my number and will ring me back. That was six hours ago, but still nothing.
These are people who get paid exhorbitent salaries and subsidised mortgages, using my money!!
For bankers.....read w
kers! Edited by Gibbo998 on Thursday 4th January 14:23
About 20k ish a year plus a cheap mortgage deal. Probably less than a Tesco shelf packer, but about the same intelligence requirment.
I control my account well, so don't pay over draft fees.
Using this account suites all my needs, no need to change, if the tossers did their job effectively.
I control my account well, so don't pay over draft fees.
Using this account suites all my needs, no need to change, if the tossers did their job effectively.
Thanks for that, seems I need to look at better alternatives with more commercially minded operators.
Old school ideas that your banker is the best source of support is obviously outmoded now.
And my point is that theyhold a substantial amount of my life savings, give me "jack st" interest in return, but will make a pretty penny in return on the amount they hold in my account.
So, that is where I am paying for them to run my account.
Yes, I need to wise up and look to maximise returns on my money, not trust the "safe and easy option" anymore.
Old school ideas that your banker is the best source of support is obviously outmoded now.
And my point is that theyhold a substantial amount of my life savings, give me "jack s
t" interest in return, but will make a pretty penny in return on the amount they hold in my account.So, that is where I am paying for them to run my account.
Yes, I need to wise up and look to maximise returns on my money, not trust the "safe and easy option" anymore.
You miss understand my point. I make "jack st" interest on the money they hold in my account. But Nationwide use those funds, plus all the other funds they hold,from other "investors",and charge high interest rates to borrowers, using the monies they hold.
That's how I fund the salaries, bonuses and cheap mortgages !
t" interest on the money they hold in my account. But Nationwide use those funds, plus all the other funds they hold,from other "investors",and charge high interest rates to borrowers, using the monies they hold.That's how I fund the salaries, bonuses and cheap mortgages !
Working for a Mortgage provider and you don't get a preferential rate????
Really ??? Pull the other one.
My original post was about the st service I am experiencing fro Nationwide.
Nothing has changed from that. Still, I have recieved no call and the funds still sit in my UK account and I am twelve hours away in Thailand with little funds to draw on to live on!
All this " blue sky st " from probable banking staff about " liquidity " is all bks, Nationwide have fked up and this is not the first time they have done it.
As my OP said, " for bankers, read wkers".
Really ??? Pull the other one.
My original post was about the s
t service I am experiencing fro Nationwide. Nothing has changed from that. Still, I have recieved no call and the funds still sit in my UK account and I am twelve hours away in Thailand with little funds to draw on to live on!
All this " blue sky s
t " from probable banking staff about " liquidity " is all bks, Nationwide have fked up and this is not the first time they have done it.As my OP said, " for bankers, read w
kers".sidicks said:
Presumably some kind of computer error (or maybe even OP’s own mistake)!
Not my mistake as I recieved a response from Nationwide confirming the transaction and informing me it would be processed the same working day.This was prior to the New Years holiday, so I assumed it would take longer, but when the money was still sitting in my UK account a week later, I knew there was a problem.
My issue is that this is the second time this has happened to me in less than a year.
I only make these transfers every three months, and also assume they are an automated process.
But it seems not, as they admitted last time that somebody had missed my request.
Now,I wait to see what reason they give me this time?
jamoor said:
Do you have a debit card with nationwide?
If so use transfer wise on your phone and use that to deposit the money into your Thai account.
It's quicker as no money is being transferred across borders.
Imo in this day and age it's your fault for using your bank to make this kind of transfer.
So, in your opinion it is my fault that I used a banks system to transfer my money from that bank? And it didn't work!If so use transfer wise on your phone and use that to deposit the money into your Thai account.
It's quicker as no money is being transferred across borders.
Imo in this day and age it's your fault for using your bank to make this kind of transfer.
Shows what your opinion is worth !
Well the situation is now acceptably resolved. Had a call from the customer service centre at Nationwide, apologising for the late transfer.
So many to process over the New Year meant big delays, due to holidays etc etc.....
Moved mine to a priority, due to my circumstances of having low funds here, and promised the funds would be in my Thai account later today.
Also, waived the £20 CHAPS fee to do the transfer.
I expressed my concerns that this was the second time in twelve months, albeit a different reason this time, but politely thanked her for the quick response and grateful for the waiver of the fee.
I hope this is the last time I am put into this situation, using this On-line facility, but I am grateful to the positive responses with advice of better commercial options to transfer my money.
To the 'bankers' who gave me grief for posting my negative comments about their industry, I can only say it is how most customers view you.
Now time to get on with my r and r over the next few months, with funds to support my enjoyment.
Cheers, Gibbo.
So many to process over the New Year meant big delays, due to holidays etc etc.....
Moved mine to a priority, due to my circumstances of having low funds here, and promised the funds would be in my Thai account later today.
Also, waived the £20 CHAPS fee to do the transfer.
I expressed my concerns that this was the second time in twelve months, albeit a different reason this time, but politely thanked her for the quick response and grateful for the waiver of the fee.
I hope this is the last time I am put into this situation, using this On-line facility, but I am grateful to the positive responses with advice of better commercial options to transfer my money.
To the 'bankers' who gave me grief for posting my negative comments about their industry, I can only say it is how most customers view you.
Now time to get on with my r and r over the next few months, with funds to support my enjoyment.
Cheers, Gibbo.
Thank you for all these helpful suggestions.
I will spend some time on each of these sites to see if I can improve on the exchange rate I get with my bank.
My last transfer got me 43.35 thai baht for each pound. Plus a fee of £20 to action it, although, this time, they waived this fee due to the delay.
Gone are the heady days when I first bought my house here and I got 67 bht to the pound!!!
So now, any improvement will be welcome. Thanks to all who gave me some alternatives.
Maybe worth a new topic to see what experiences PH's have and the best transfer facilities.
But a lot of good posts already, and some to research until my next cash top up.
I will spend some time on each of these sites to see if I can improve on the exchange rate I get with my bank.
My last transfer got me 43.35 thai baht for each pound. Plus a fee of £20 to action it, although, this time, they waived this fee due to the delay.
Gone are the heady days when I first bought my house here and I got 67 bht to the pound!!!
So now, any improvement will be welcome. Thanks to all who gave me some alternatives.
Maybe worth a new topic to see what experiences PH's have and the best transfer facilities.
But a lot of good posts already, and some to research until my next cash top up.
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