Re: Think Banking = Personal Banking HELL!
In March 2011 I set up a bank account with Think Banking. At the beginning of April 2011, I paid multiple cheques into my account. The cheques had cleared and debited from the cheque payer’s account. I was told that the cheques will be credited into my account by the 15 April 2011.
However, this has not happened, I have repeatedly contacted Thinking Banking and asked why? The response on each occasion is that they are experiencing an IT problem and that they will get back to me when they have something positive to tell me. I asked for a guarantee that my money was safe, to which their “Money Manager” representative reluctantly replied yes after my fifth time of asking.
Think Banking have no idea what the IT problem is or the earliest/latest date that the problem will be fixed.
I am seriously anxious and concerned about their lack lustre and laid back approach to money that is a vital part of my every day living life.
Update
1. 3rd May 2011, after a further conversation with a Think Banking Money Manager, the multiple cheques (Totalling over £5000) were finally credited to my card account. I was told I could withdraw from any RBS ATM machine a maximum total of £450 a day.
2. I withdrew £450 each day from the 3rd May 2011 to 7th May 2011.
3. 7th May 2011, I received a letter from Think Banking stating that unfortunately we are unable to continue to provide a service and subject to their Terms and Conditions of use and hereby given 7 days’ notice that the account will be closed on the 12th May 2011. This letter was dated the 4th May 2011.
4. 8th May 2011 the ATM refused to process any withdrawal request.
5. 9th May 2011 I contacted a Think Banking Money Manager for an explanation. They stated that ATM refusal was a security check prohibiting the misuse of a stolen card. I stated that the card was not stolen and please could I withdraw the allocated daily amount. They apologised, but said that unfortunately the card will be blocked for 24 hours.
They also said that my Account will be closed and that I should make alternative banking arrangements and any balance remaining in the account on the closure date will be refunded (Note: Initially Think Banking said this was a directive that came directly from the RBS, in another phone conversation they retracted the statement and said they were not affiliated with the RBS).
“Think Banking Limited which is not part of the Royal Bank of Scotland Group”
They said they were not at liberty to disclose any reason for closing the account. I said that my account was functional on the 3rd May 2011 and now a letter dated 4th May 2011 will close the account on the 12th May 2011; and after all the inconveniences of April, I should pay £25 setup fee and £14.50 monthly operational fee.
The account was terminated on the 12th May 2011 and subject to the outcome of a complaint I lodged concerning the service I received, will I hear whether I shall receive a refund of £25 setup fee and £14.50 monthly operational fee.
The most annoying aspect of dealing with Think Banking is that they constantly text/phone for your identification, salary and direct debit details, but as soon as they have these details they appear to offer any excuse for not providing a transparent banking service.
Think Banking are not a Bank, all they do is provide a questionable banking service.