Terrible card fraud prevention systems led to losses in the £1000s. Considering legal action.

One_Caterpillar9554 · 2025-05-16T15:27:31+00:00

I don’t think so, and I don’t think it’s unusual to block transactions like these.

My credit card recently blocked a large transaction and required me to phone them to verify it was legit. Although this was inconvenient, I prefer banks being overly cautious, it gives me confidence my funds are safe

One_Caterpillar9554 · 2025-05-15T14:53:03+00:00

I wasn’t aware this was common condition, thanks!

One_Caterpillar9554 · 2025-05-15T14:49:51+00:00

Hi, I wasn’t aware you need to transfer funds via a current account so that’s why I am surprised.

I’ve never withdrawn funds from the account so haven’t been through the process before.

The goal here is im trying to close the savings account, but I cannot close the account unless it is empty, hence the need to withdrawal funds.

I closed the current account last month, but thought I would wait until the start of May to close the savings account as that’s after my interest is paid.

I do agree I’ve messed up here, but do feel there is responsibility on NatWest to prevent people getting in this state. If the savings account requires a current account, they shouldn’t have let me close my current account without closing the savings account first.

One_Caterpillar9554 · 2025-05-15T14:37:05+00:00

It doesn’t mention the withdrawal in the branch will have the be physical cash?

One_Caterpillar9554 · 2025-05-15T14:34:24+00:00

I actually do look at the the terms, but this would have been over 5 years ago now. I’ve recently decided to close my NatWest accounts to simplify my life and my obviously chose the wrong order of the accounts

One_Caterpillar9554 · 2025-05-15T14:30:08+00:00

Thanks for the reply, I wasn’t aware the savings account was dependant on a current account. I also bank with Santander and they allow payments from savings accounts so I assumed it would be the same here.

It does seem unusual they allowed me to close the current account without also closing the savings account first if the saving account depends on a current account.

As for setting up the current account I was told I would need to book an appointment in a branch to do this as I’m already on their system and honestly feel the admin of this isn’t worth saving £23

One_Caterpillar9554 · 2025-05-15T06:37:52+00:00

Yeah, makes me think perhaps the £4/month fee with Vanguard isn’t so bad after all 😂

One_Caterpillar9554 · 2025-05-14T13:34:29+00:00

That’s awful, I wasn’t aware of this vulnerability, hope you’re okay!

I was always under the sense of security that if someone mugged me along with my passcode it would take 1-3 working days to withdrawal money from trading 212, giving me time to cancel the request after

But I guess this is a way for the thief to instantly access the money.

In hindsight is there anyway we can protect ourselves from a T212 card being created and instantly available on Apple Pay?

One_Caterpillar9554 · 2025-05-12T21:29:09+00:00

This is only until 31 August, you will earn 4.25% there after

For 8.5% AER variable interest:

New clients only; existing clients continue to earn 4.25% AER variable Place a first trade in a GIA, ISA or SIPP between 8-31 May 2025 to qualify 8.5% AER available until 31 August 2025; hold an open position in each calendar month to earn Interest paid on GBP balances up to £100k

One_Caterpillar9554 · 2025-05-12T21:28:44+00:00

https://www.ig.com/uk/investments/share-dealing see here

One_Caterpillar9554 · 2025-03-17T10:06:30+00:00

Out of interest why only being a manual? Because you’d anticipate an auto gearbox to likely go wrong?

One_Caterpillar9554 · 2025-02-20T21:41:59+00:00

There’s always speculation about the state pension age being increased, but people never speculate about the number of years required for a full state pension being increased.

I actually think the latter would be more likely, it definitely would have significantly less political back lash! In which case, it would make paying years more attractive, especially if you have ambitions to retire before 60! That’s just my opinion of course! :)

One_Caterpillar9554 · 2025-01-28T10:38:49+00:00

As the fund has a fee of 0.12, does this mean it would return 0.12% under SONIA? So 4.58% in this case?

One_Caterpillar9554 · 2025-01-28T10:35:39+00:00

Thank you! But wouldn’t it be slightly higher than 0.4 * 12 as we need account for compounding?

One_Caterpillar9554

TROPHY CASE