Lloyds Bank Insurance
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Lloyds is no longer the bank it was
After many relatively happy years with Lloyds I have just had the worst experience I've ever had with any bank in my lifetime (74 yrs young). All I wanted to do was move some of my savings from accounts managed by the Flagstone platform to others, both organisations mentioned on Martin Lewis's 'MoneySupermarket' website and regulated by the FCA. On THREE attempts to make payments from my current account, they were all refused and my account blocked - first the fraud dept made me go to my branch, where the advisor contacted them and finally resolved the issues causing the red flag...or so I thought! Later, a new attempt was also blocked and had to contact the fraud dept once again...who assured me all would be OK when trying again later that afternoon...WRONG! Put through the security wringer for the third time I was finally able to actually move my own money to where I wanted. Reason for hours of stressful experience?...system requirements for security purposes. But a system that cannot differentiate between reputable, safe organisations and more dubious ones is clearly not fit for purpose and NOT conducive to online banking. And with no guarantees that this won't happen again with any other 'new payee', I shall be closing my Lloyds accounts and transferring to the likes of FirstDirect (with a nice £175 bonus!). Update...UNBELIEVABLE! After finally able to make the payment in question and having informed them I would be making 3 more to the same destination over the next 3 days due to daily limit, the next one went through fine...then, on day #3...BLOCKED AGAIN!!! So, call with fraud dept number FIVE before I can continue moving my own money where I want it to go...TOTALLY INEXCUSABLE...FirstDirect here I come...