TheCountOfNowhere Posted August 22, 2014 Share Posted August 22, 2014 http://news.sky.com/story/1322891/current-account-exodus-at-troubled-co-op-bank " Current Account Exodus At Troubled Co-op Bank The lender confirms a £76m loss in its first half and says it appreciates the loyalty of customers during its hard times." Quote Link to comment Share on other sites More sharing options...
nnails Posted August 22, 2014 Share Posted August 22, 2014 just joined the coop to get the £100 if you transfere your account to them. as usual i will take the money and run and then transfer it to another account provider to get there free bee. i think its called quantative easing but it more productive than savings accounts Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted August 22, 2014 Share Posted August 22, 2014 'The bank, which was forced to raise almost £2bn to plug a capital black hole last year, reported significantly lower losses of £75.8m for the period compared to the same time during 2013 and said its wider financial position was improving despite "deep-rooted" problems remaining. The bank, which shed 13% of its permanent staff and closed 46 branches over the six months, said it lost 28,199 current account holders but its net customer number losses had since slowed.' And it's wider financial position is improving because a huge drop in liabilities thanks to 30,000 people taking their current accounts away. You gotta love it. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted August 22, 2014 Share Posted August 22, 2014 And this does not,in any way, shape or form,constitute a 'run' on the bank. Quote Link to comment Share on other sites More sharing options...
spyguy Posted August 22, 2014 Share Posted August 22, 2014 Nope. Looks like a brisk walk. Quote Link to comment Share on other sites More sharing options...
GloomMonger Posted August 22, 2014 Share Posted August 22, 2014 And for any co-op account holders, this news should make a few thousand more consider leaving the bank. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 22, 2014 Author Share Posted August 22, 2014 (edited) And for any co-op account holders, this news should make a few thousand more consider leaving the bank. I left around a year ago; Always.....PANIC FIRST Edited August 22, 2014 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
rxe Posted August 22, 2014 Share Posted August 22, 2014 I was going to start a thread about Halifax. Is it just me, or is it extraordinarily difficult to get money out of them? Twice in the last month I've transferred £5K to another UK account - one that I have used before, no security issues. They have "suspended the payment", told me they would review in 24 hours, on one occasion it took 72 hours, on another occasion I had to go into the branch and negotiate with them to make it happen. Call center performance is shocking, and the excuse they gave me is that they are really busy reviewing "potentially fraudulent payments". Hmmm..... Quote Link to comment Share on other sites More sharing options...
spyguy Posted August 22, 2014 Share Posted August 22, 2014 I was going to start a thread about Halifax. Is it just me, or is it extraordinarily difficult to get money out of them? Twice in the last month I've transferred £5K to another UK account - one that I have used before, no security issues. They have "suspended the payment", told me they would review in 24 hours, on one occasion it took 72 hours, on another occasion I had to go into the branch and negotiate with them to make it happen. Call center performance is shocking, and the excuse they gave me is that they are really busy reviewing "potentially fraudulent payments". Hmmm..... No. Me to. Took me 2 months to get my money out. They had me down at two adrreses. They were sending statements to my current address and security stuff to an old address. As soon as they stumbled on this, I got a cheque _ seurty be dammned. Quote Link to comment Share on other sites More sharing options...
Stainless Sam Posted August 22, 2014 Share Posted August 22, 2014 What's the problem? Anyone got more than £85k in a CoOp current account? I'll forgo the chair and sandwiches and just wait for my modest cheque from Boy George. . Quote Link to comment Share on other sites More sharing options...
porca misèria Posted August 22, 2014 Share Posted August 22, 2014 I was going to start a thread about Halifax. Is it just me, or is it extraordinarily difficult to get money out of them? Twice in the last month I've transferred £5K to another UK account - one that I have used before, no security issues. They have "suspended the payment", told me they would review in 24 hours, on one occasion it took 72 hours, on another occasion I had to go into the branch and negotiate with them to make it happen. Call center performance is shocking, and the excuse they gave me is that they are really busy reviewing "potentially fraudulent payments". Hmmm..... I tried to make a £15k payment from a Santander account just under a year ago. I was fully ready for it to fall foul of fraud detection crap, and to get on the 'phone to them. But it all went through just fine. As did a topup: a transfer of £15k into that account (the current account that pays 3% interest) from elsewhere. Next day, the recipient phones up, desperately worried. The money hasn't come through. I try logging on, only to find that my login has been disabled. I try 'phoning, only to fail the "security", 'cos they want details I can't access without logging in. They've told me all's well, only to go back and change it retrospectively. Kafka would've been proud of them! Drop everything, get on the bike, and pedal to a branch carrying a bunch of documents like passport and council tax bill. Grrrr... Quote Link to comment Share on other sites More sharing options...
Quicken Posted August 22, 2014 Share Posted August 22, 2014 I tried to make a £15k payment from a Santander account just under a year ago. I was fully ready for it to fall foul of fraud detection crap, and to get on the 'phone to them. But it all went through just fine. As did a topup: a transfer of £15k into that account (the current account that pays 3% interest) from elsewhere. Next day, the recipient phones up, desperately worried. The money hasn't come through. I try logging on, only to find that my login has been disabled. I try 'phoning, only to fail the "security", 'cos they want details I can't access without logging in. They've told me all's well, only to go back and change it retrospectively. Kafka would've been proud of them! Drop everything, get on the bike, and pedal to a branch carrying a bunch of documents like passport and council tax bill. Grrrr... Pretty much the same thing happened to me recently with Santander. I suspect much of the 'fraud detection' sh*t is just in place to slow down the stampede to the exits in a bank run giving them time to put more official capital controls in place. Quote Link to comment Share on other sites More sharing options...
acer Posted August 22, 2014 Share Posted August 22, 2014 I don't seem to have these problems transferring money. Recently, I've made transfers of £10k and £5k, and they went through with no dramas. I'm with the Co-op, by the way. Quote Link to comment Share on other sites More sharing options...
Guest TheBlueCat Posted August 22, 2014 Share Posted August 22, 2014 I had an account with the Halifax part of HBOS a few years back and had no end of trouble with it. In the end I concluded their systems (IT and organisational) were just excrement and closed it. I get the feeling a lot of banks are still suffering the after effects of trying to merge operations with acquisitions whilst not spending any money on IT (or anything much else for that matter besides executive compensation) so as to make it look like the deal wasn't entirely equivalent to heaping up shareholders' money in a pile and burning it. Quote Link to comment Share on other sites More sharing options...
StainlessSteelCat Posted August 22, 2014 Share Posted August 22, 2014 I don't seem to have these problems transferring money. Recently, I've made transfers of £10k and £5k, and they went through with no dramas. I'm with the Co-op, by the way. Ditto. The local branch all know me too and will go the extra mile to sort things out if there's a problem. Although they are clearly struggling. It is no longer opening on Saturdays because apparently they get less than half a dozen customers that day. I guess they'll get rather fewer now. Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted August 22, 2014 Share Posted August 22, 2014 (edited) did this get a mention ( from 2 wks ago) Co-op quits online grocery service tamebay.com/2014/08/co-op-quits-online-grocery-service.html Edited August 22, 2014 by Saving For a Space Ship Quote Link to comment Share on other sites More sharing options...
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