I see that after Northern Rock was bailed out by the taxpayer, the Royal Bank of Scotland is now having financial difficulties. It is a great pity the government could not hit them with a financial penalty for allowing themselves to get into financial difficulty the same way I used to get whacked when I went into the red struggling on a subsistence level salary trying to bring up three children. It also drives me nuts the length of time it takes to transfer money. I was in my bank (Nat West) and asked how long it would take to transfer £250 into my daughters account with another bank less than 100 feet away. Four working days I was told, so I drew the money out and walked over and put it into her account. I would like nothing better than to see one of these greedy institutions go to the wall but that will never be allowed to happen so long as the mug taxpayer can prop it up.:mad:
By: chuck1981 - 1st May 2008 at 00:15
Ahhh ok, im not sure if we have these “chips” in out cards here in the states or not.
Btw, do you have the new cards, or “sticks” (the little ones you can attach to your keychain) that enable you to literally wave a magic wand and the money is mysteriously debited? Im just wondering, theyre here in the states but so far dont seem to have become to widespread. Personally I dont like the idea of RF tags with my money, I bet its just as easy to get access.
But anyways, thanks for the reply cdp206.
By: cdp206 - 30th April 2008 at 13:07
chuck1981 – “Chip ‘n’ Pin” is the very shortened term for the method of payment used by many in the UK these days. Your debit/credit card has a small chip embedded in it. You insert the card into a small machine at the counter then enter your PIN number. It was introduced as a supposed way of cutting down on fraud.
By: chuck1981 - 23rd April 2008 at 05:33
Well, it’s a dying trade. Most shops in UK don’t take them anymore.
Sidenote, I was in North America last week, I was surprised at the total lack of “Chip n pin”. Signing for stuff at the checkout, I’d forgotten how to do it 🙂
What do you mean by “chip in pin”? Do you mean like just waving your card over a scanner and going through? Or swiping a card and entering a pin number…..just wondering……Hear in the northeast credit card machines are everywhere, which also accept debit cards (with ur pin of course). Im just interested to hear your experience 🙂
By: old shape - 22nd April 2008 at 23:04
And don’t forget that the U.K. and the U.S. still use those paper thingies called, um, er, cheques, checks!:confused:
Well, it’s a dying trade. Most shops in UK don’t take them anymore.
Sidenote, I was in North America last week, I was surprised at the total lack of “Chip n pin”. Signing for stuff at the checkout, I’d forgotten how to do it 🙂
By: Newforest - 22nd April 2008 at 22:32
And don’t forget that the U.K. and the U.S. still use those paper thingies called, um, er, cheques, checks!:confused:
By: old shape - 22nd April 2008 at 21:52
Hey, give us a break mate this is the UK we don’t rush into all this new fangled technology without thinking it over for at least 15 years:D . Then when we decide to adopt it we find that the rest of the world is on the third generation stuff.:mad:
It’s not just that….it isn’t safe yet. It’s not only Guvmints that have lost Discs with stuff on. ID theft is one of the biggest growth industries in UK.
By: Arabella-Cox - 22nd April 2008 at 14:07
It’s not just moving money about that takes the banks so long. We moved house last year and it took three letters and a photocopied passport before our bank (Abbey National) managed to change our address. Yesterday my wife found out that even though we’re joint account holders, they’d only changed the address against my name – they want her to inform them herself, separately! And of course, she was the one who sent them the first letter after we’d moved.
By: mike currill - 20th April 2008 at 15:04
Hey, give us a break mate this is the UK we don’t rush into all this new fangled technology without thinking it over for at least 15 years:D . Then when we decide to adopt it we find that the rest of the world is on the third generation stuff.:mad:
By: tenthije - 20th April 2008 at 11:39
Can you not do so by internet at your bank? My bank, one of the largest Dutch banks, offers full internet services. I can check my accounts, arrange transfers etc.
A transfer from my savings to my current account, and vice versa, takes minutes. A transfer from my current account to any other account in NL, including those from other banks, takes an hour at most. Don’t know if a transfer to a foreign bank takes longer since I never do so.
The system is very secure. A random number generator is supplied to the account holder, and this generator only works with your bank card and PIN number. Any transaction has to be verified again with this generator. It is therefor as safe as a ATM machine.
It’s not just my bank either. All the large Dutch banks offer some or more internet services. Is this not as common in the UK?
By: A Spalding - 20th April 2008 at 11:25
In this age of electronic transactions they should really be able to have done that for you faster than you could do it the way you did but they still insist on 2 days inter branch or 4 days inter bank which I feel is not acceptable.
Couldn’t agree more.
Both myself and my mum both bank with HSBC and I transfer money into her account on a regular basis! Because we are customers of the same bank, the money transfers immediately.
Adam
By: mike currill - 20th April 2008 at 06:54
In this age of electronic transactions they should really be able to have done that for you faster than you could do it the way you did but they still insist on 2 days inter branch or 4 days inter bank which I feel is not acceptable.
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April 19, 2008 at 10:13 pm