Changing To A New Bank Account Should Never Be This Stressful
Another curve ball this afternoon whilst trying to transfer funds from my old bank account in the UK that has been closed to my new Revolut account. I tried to transfer online using my online banking account and this was impossible to do as the account is closed. The notice I had received from the bank a few weeks ago was I must not worry as once the account is closed one can still transfer their funds out to a new account. This was also told to me telephonically so I was not worried as the funds are safe.
Sir We Have A Problem
I phoned the bank immediately for assistance to be told that they had sent a cheque to my address in South Africa instead. I explained this was not part of the deal and this does not help me. Not only is this a serious risk knowing that post does not normally arrive but what about the crooks who can fraudulently change things and could cash the cheque themselves. I informed them that I was not liable if this happens as this was not agreed upon and will be taking this much higher. Apparently when you close an account it is up to your discretion to move the funds and when a bank shuts your account they send a cheque out, but again through lack of communication I was never informed and could have told them immediately this will not work.
Not only have they gone against their agreement but have placed my finances in jeopardy without even consulting me. This is after having an account with them for longer than 31 years. They just do not get it and do not care, but the problem still lies with them.
What needs to happen is to cancel the cheque and then transfer into my Revolut account which they have the details of. I double checked and Revolut do not accept any cheques and only accept cash deposits with a maximum of 1500 GBP daily via 3 x 500 GBP deposits. According to my calculations I would have to stay in the UK for a few months if this was the only solution. This is also a security risk and not one I am prepared to even contemplate.
What happened to communication because there has been none besides a letter that arrived nearly 4 weeks after it was sent. When i was in the UK back in February I did pop into the bank and made sure all my details had been kept up to date. This is highly frustrating and reckless on their behalf placing a clients account in this situation.
I have placed the ball back in their court by demanding the cheque is cancelled immediately as this is of no use to myself. I cannot cash the cheque in South Africa and again would be a huge risk. I would have to break the law to get the funds transferred which I could do, but this again is not my problem.
Apparently It Is Such A Problem They Have To Call On The Specialists
The result is I need to sit and wait for a response from the "specialist banking" team which could take a few days or up to 5 working days. In the mean time all I can do is escalate this up the ladder and this will be done in the morning. This is something I am good at and will get this resolved even though I should never be in this situation.
Posted Using INLEO
I saw some black lad from a post office in Johan purchase a new Rolls Royce . 🤣🤣🤣
Yeah anything is possible here lol. Stupid banks trying to be clever.
This is a real horror story. It also shows how banks are disconnected from real life.
Hope you get your money back soon.
!invest_vote
It has been a shocker and this is all on them being disconnected from their customer needs. They could not have handled this any worse than what they have done. Hopefully this will be sorted out this week with a lot of work from my part.
Oh wow! You are surely having to jump through a loop of hoops for what generally used to be an easy task. They are bound to know a check through the post would be unsafe. I hope they get the check cancelled soon.
I am a proper gymnast now after what I have had to endure in the last 6 weeks. I informed them this is on them and I have nothing to do with this.
@ervin-lemark denkt du hast ein Vote durch @investinthefutur verdient!
@ervin-lemark thinks you have earned a vote of @investinthefutur !
Ugh, that sucks!
Sorry to hear about your troubles, but this is a solid case for self-custody crypto.