How do people get on with transferring money to IB. I spent ages on the phone to my Bank on Monday and gave them specific instructions for a CHAPS transfer to Citibank in London and gave them the details of my IB account to add to it so Citibank knew where to deposit the money. I have checked today and apparently their wasn't enough information sent with the money so they have sent it back. My Bank haven't received it yet so its currently in cyberspace much to my annoyance as I can't trade and don't know where it is until tomorrow. I had a similar thing with IB in the past when I opened an account with them. Anybody else had similar problems?
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Did you complete the online deposit notification? Irrespective of what is on the CHAPS payment, IB needs the deposit notification to match the two before it gets into your account.
Did you send GBP to Citibank London? If your base account is in dollars then it has to be sent to Citibank New York.
I've never had any problems whatsoever in transferring money.
Did you send GBP to Citibank London? If your base account is in dollars then it has to be sent to Citibank New York.
I've never had any problems whatsoever in transferring money.
theknifemac
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Skimbleshanks said:
Skim
Do you have your account in dollars then, or do you just happen to know the USD needs sent to NY ?
Ta
Stew
My account is in GPB so I sent the money to London and I did fill in the online notification informing IB. IB said the money had been returned because my Bank did not pass on the details correctly that I definitely gave them ( IB account number,user name etc. ). I hope I don't have to wait ten days for the money to get back!
dc2000
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Scchoe your money isn't in cyberspace its in your banks clearing dept in a couple of days they will find it credit it you send it back with same details that they omitted in the first place ( as you can guess been there done that ) dont assume just because you gave them the correct information that they gave that to IB. Oh and there is more chance of the DOW hitting 12,000 next week than the bank saying sorry.
DC, exactly, the banks are scum. They sit on your credits and put debits through on non-banking days. Their standards continue to fall and.......they never apologise.
That would cost them compensation. It's amazing they're still allowed to get away with it.
I switched to telephone banking years ago and now do most of it online.
That would cost them compensation. It's amazing they're still allowed to get away with it.
I switched to telephone banking years ago and now do most of it online.
adrianallen99
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dc2000 said:
Send them a charge £30 or something should do it.
When something goes wrong with my bank, I always charge them for it - Admin costs
So far I have been paid over £700 in customer charges
Last time I charged them £100 for a cheque not clearing when it was supposed to. They told me it would definately be in the account on the thursday, it wasn't.
£30 because they failed to deposit £7,000 into my account. The instruction wasn't passed on.
They charge me, so I charge them. I don't want an apology, they just have to cover my customer charges
wheezergeezer
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Bank charges
Sounds like you need to change your bank, if possible a bank that offers online banking (Assuming your not already) so you can see via your pc what transactions are taking place and have an up to date live statement, good luck.............
Sounds like you need to change your bank, if possible a bank that offers online banking (Assuming your not already) so you can see via your pc what transactions are taking place and have an up to date live statement, good luck.............
My blood is close to boiling point now. The Halifax say its not their fault as they sent it and it had all the details on the transfer.
Citibank in London say they can't help me and put me through to an automated service
IB said it must be the Banks fault and as we speak he is going to make some enquiries and phone me back but this was someone in Switzerland.
So I can't trade,no-one will take responsibility and find it for me and everyone is blaming everyone else!
To be fair IB are trying to find it and just phoned me back to say Citibank haven't had the money and are now going to phone the Halifax. Awaiting a call back as I type ........
.
Citibank in London say they can't help me and put me through to an automated service
IB said it must be the Banks fault and as we speak he is going to make some enquiries and phone me back but this was someone in Switzerland.
So I can't trade,no-one will take responsibility and find it for me and everyone is blaming everyone else!
To be fair IB are trying to find it and just phoned me back to say Citibank haven't had the money and are now going to phone the Halifax. Awaiting a call back as I type ........
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Time to deliver ultimatums my friend.
Tell Halifax that you will close the account tomorrow if they don't admit liability (pointing to IB's claim of insufficient details). Tell IB that you are no longer interested in opening an account with a bunch of bungling morons unless they deposit the funds in your account by tomorrow - pointing to the banks claim that all the details were correct. You'll soon find out who you no longer need to do business with - maybe both? Tell them both you are reporting them to the FSA (you should).
Meanwhile of course, one of the parties is using your cash to earn interest in the overnights, etc and you are out of pocket on lost income. Point this out and DEMAND compensation.
Unfortunately, the UK is the only place in the 'civilised' world where this kind of monkey business is allowed to prosper.
Tell Halifax that you will close the account tomorrow if they don't admit liability (pointing to IB's claim of insufficient details). Tell IB that you are no longer interested in opening an account with a bunch of bungling morons unless they deposit the funds in your account by tomorrow - pointing to the banks claim that all the details were correct. You'll soon find out who you no longer need to do business with - maybe both? Tell them both you are reporting them to the FSA (you should).
Meanwhile of course, one of the parties is using your cash to earn interest in the overnights, etc and you are out of pocket on lost income. Point this out and DEMAND compensation.
Unfortunately, the UK is the only place in the 'civilised' world where this kind of monkey business is allowed to prosper.
Halifax are rubbish. I used one of their in-branch machines to pay cash in. They encourage you to use them. It says it goes into your account the next day. The entry was there but the money wasn't available for 5 days. I phoned them and asked why they had to "clear" cash. They said it was in their rules and regs and that I obviously hadn't read them. They have to open the machine and check the cash and then pay it in. 5 days, my a*se.
Halifax are going to try and trace it and phone me back this afternoon apparently they now tell me thay had a problem with the computers on Monday and it had to be done manually ! So far this morning about 2 hours of phone calls to
London, Glasgow, Switzerland and god knows where else probably Bombay!
Lost time messing around,money spent on phone calls,no money to trade with.
Will anyone apologise, will I get compensation I very much doubt it.
London, Glasgow, Switzerland and god knows where else probably Bombay!
Lost time messing around,money spent on phone calls,no money to trade with.
Will anyone apologise, will I get compensation I very much doubt it.
Youve got to demand compensation - they're not going to offer it are they! If they dont then tell them you are closing the account. Dont stand for it. It takes 5 mins to open a new bank account these days, and I bet if youve been banking with Halifax for some time now, you will be able to get a much better deal elsewhere anyway. Dont bother being loyal to someone who just screws you at every opportunity.
Brokers and banks - they're all the same.
Brokers and banks - they're all the same.
wheezergeezer
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When you pay in cash , always pay over the counter, yes its a pain and you probably have to queue to,
but its instantly accredited to you account, where as if you pay via ATM it takes 3/4 days........
but its instantly accredited to you account, where as if you pay via ATM it takes 3/4 days........
Latest news is the Halifax had the cash !! it was returned because the reference number wasn't received by CitiBank even though they definitely put it on when they sent it (yeh right) and have now resent it at 1159 am today so we will see what happens to it this time .........
