Today Lloyds bank threatened to lock my online account if i didnt phone them immediately because i tried to deposit money to my coinbase account. Why does these kind of shit still happen. I thought banks, visa/mastercard are finally starting to adopt crypto.. i guess not, especially not UK banks.
I had to call them, confirm my details to these automated bot then i was put on hold for 30mins waiting for a real person to talk to. Then i had to confirm my details with this person again. She proceeded to “interrogate” me about what was i trying to do, at first i told her im allowed to do whatever i want with my own money and its none of their business but she kept on persisting so i finally told her i was transferring it to my coinbase. Im pretty sure she already knew it was for coinbase anyway but she just wanted to hear it from myself.
As soon as i mentioned coinbase she immediately transferred me to this other person who proceeded to give me a 15 minute lesson about bitcoin and how “unsafe” it is…
After all that they didnt even bother to complete my money transfer so I basically wasted all that time just so they wont lock my account. I dont even know if theyll do this again if i try to transfer again to coinbase.
So im about to close my Lloyds debit and credit accounts but does any UK residents here recommend and crypto friendly banks?
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Hi all
I am moving to the UK and the relocation company put me in contact with a manager from Lloyds in order to open a bank account for my salary. I have a call in 3 hours and I am curios if there is anything I should know/ask. How is your experience with their internet banking, interest rate and fees.
Thanks in advance
I will try and keep this as short and clear as possible.
In late July I was at work when I received a text message from Lloyds saying I had set up a new recipient on my online banking app. I logged in to find that £2,700 had been transferred to a person's account whose name I did not recognise, all in chunks of around £400 at a time. The references for these transactions were things like, car exhaust, and other car related things (I didn't even have a car at that time and can prove it). Also worth mentioning, the man's account was registered to somewhere in the Midlands, and I am on the South coast.
I phoned Lloyds and upon getting through to them I explained that I had not authorised these transactions and they said that they had been authorised over the phone through telephone banking. I then explained that this was not me, and I in fact had not even set up telephone banking with Lloyds. They told me they would sort out getting me a refund but in the mean time they changed my account details (password, security questions) so that it was secure.
In the next few days I was told that I would actually not be getting a refund, because apparently the phone call came from my mobile banking app (I have no idea how???) and my bank account can only be accessed from my authorised mobile device (evidently this is not the case). Lloyds also told me that they listened to the audio recording of the phone call, and the voice "sounded similar" to mine (which is utterly ridiculous given that any 20-something year old man from the South probably sounds similar over the phone).
I have since complained, and attempted multiple times to show them proof that I did not make the phone call. I have bills from my mobile services supplier which show all my phone calls on that day, and proves that the calls that authorised these transactions did not come from my mobile phone. Each time I have contacted Lloyds, they have refused to give me an email address to send this evidence to; except for one time, nearly two months ago, and I have yet to receive a response. I have also complained, which was ignored, and requested again that my complaint be reviewed with the evidence I have supplied. Again, this has been ignored for over a month.
I am completely at a loss. I have proof that I didn't make the phone calls! Lloyds are refusing to even look at this, or respond, presumably because they are aware they are at fault through a lack of security. After my first refund rejection I was to
... keep reading on reddit ➡Hello friends, does anyone have experience changing just their title with Lloyds Bank? My gf doesn't have a deed poll as she hasn't changed her name and isn't going to. We just want to change the title, which shouldn't require any official documents, but can't find an option for it online. Just wondering if anyone has done this online before she goes in person to a branch
Thank you!!
https://imgur.com/a/GxHHh9C
I would choose petrified wood, but coprolite is a solid number two!
Key points:
- A basic truth about banking is that a bank benefits from rising interest rate levels
- As interest rates rise we should therefore see Barclays, Metro, Lloyds and others produce better results
- But which of the UK banks are going to benefit most from this rise in sterling rates?
- How to invest in the FTSE 100
British banking shares – Barclays PLC (LON: BARC), Lloyds Banking Group PLC (LON: LLOY) and Metro Bank PLC (LON: MTRO) among them – are up 15 to 20% over the past month. This is a rather larger rise than the general market so what is it that’s going on?
The basic truth is that banks benefit from higher interest rate environments. While it might not be true – as Modern Monetary Theory insists it isn’t – that banks lend out deposits the end accounting result is as if they do. They must fund their loans from deposits. So, the gross income to a bank is the margin, the difference in the rate it offers depositors and that it charges to borrowers.
As interest rates rise those margins widen. This is even more so as rates come up off the bottom as at present. Depositors tend not to accept negative interest rates so that puts a floor under how little can be paid out. It’s also true that the float – the amount in current accounts – rarely does pay interest so rising rates add to margins there.
OK, good, so as sterling interest rates rise then bank margins will widen. This is obviously known to the wider market as we are seeing those 15 to 20% rises in the Barclays, Metro and Lloyds share prices as interest rates do rise.
We can also see this by looking in an entirely different direction. By looking at the complaints that banks are raising those loan rates but not the deposit ones. As The Telegraph says: “Savers suffer as banks pocket the profit from higher interest rates. Many major lenders have already increased mortgage rates, but none have passed on the benefits of the base rate rise to their customers”. Well, yes, that’s exactly what is going on.
Now, we might think this is all terribly unfair and all that but as investors, as traders, we’ve got to deal with the world as it is in front of us. The amount that banks can charge to borrowers is rising as interest rat
... keep reading on reddit ➡G-U-Knit?
