To think that nobody really trusts banks anymore?

Why do people expect banks to trace criminals? They are not law enforcement. If people are defrauded, they should report it to the police who can request the details from the bank and follow it up (not that they ever do). It's like expecting Apple to get your phone back from the thieves just because they can track it.

Yes! It's astonishing that crooks seem to be able to shift funds around without banks knowing where the money is going.

No

I trust banks…but then I work in banking so don’t get the fear and paranoia others have.

Couldn't agree more, apart from Jezzer Vine I shout more at the idiots in there than anything else*

It doesn't take away from the fact that th the banks encourage crime by not dealing correctly and tracing the criminals

*for full disclosure I have been on there myself when the holiday company I booked with went bust...the bastards were a uk based company when I booked the year before so abta, atol protection. They got into financial difficulties, relocated to Spain where there are no less legal rights for holiday consumers and pissed off with 3 k of my money (and being in the EU was such a good thing!)

I'd advise not to listen to 'You and Yours'. It's full of whingers bleating about how they've been tricked out of their money, yet most of the time it's their own stupid fault.

I would say I distrust banks in a general sense, but i do worry about how they use the money we put into then. I've shifted to triodos which I'm happier with.

Yes it is very alarming that it’s cheaper for the banks to have a massive fund ready to refund people who’ve been scammed than it is for them to chase it through to the point where it’s ended up with the scammer and get it back.
They make no secret that that’s what they do though. They’re a business at the end of the day, not a public service/NFP for the good of the users.

However the home office etc are really motivated to support industry to do something about fraud (that’s the very short version) and the banks, finance, IT & telco industry are really engaged on this, so I’m hopeful.

I still don’t think the banks are bad guys. They’re way too heavily regulated to be able to be, but they are businesses and business is business.

Whist on the face of it they claim to be, listen to radio 4s you and yours. The number of scams that people have fallen through and the banks have made no effort to reclaim.the money from the account it's gone to, the time taken to speak to a fraud dept when watching the money disappear from accounts. Yes some people are bloody stupid and fall for ridiculous things and the banks can't be blamed "why didn't the bank stop me?"

But like the supermarkets, banks make so much money it's not worth actually stopping crime but chasing the money through the system to the end criminal.

I’ve worked in banks my entire 25y career and obviously use them too. I don’t mistrust them at all. I’m certainly not aware of anything ‘going on behind the scenes’. I’ve had the odd issue with my own bank occasionally, but they’ve always been sorted out.

Having worked for one for 2 years and my wife for 20...no don't trust them. The mistakes that were made. Check every statement, check everything weekly. In fairness if you use the app they will notify you of transactions but.

• It used to take 3 days for a cheque to clear, it was possible in one, if you the app it's 7
• The hidden charges of using a debt card abroad "without fees"
• Closing very busy branches
• Constantly trying to make you go paper free
• The complete lack of customer focus
• The inability to transfer large sums even to yourself

one day a bank will wake up and put the customers first, open branches, have fair interest rates etc

I cannot think of anyone among my friends, relations or work colleagues who does not trust the bank they have an account with,

I suspect you have an agenda of your own in even raising this bullshit issue OP.

I've worked for a bank in a previous life. Whilst it was obvious that there were many products that I was not comfortable selling to people (eg PPI before it was outed) it never left me feeling that my money wasn't safe. They've even given us our money back when a 3rd party has stolen it.

Was going to say the same!

They cover up to £1m in temporary high balances (less than 6months) for situations like this. Sorry just realised you added a second post about that.

Just also found out that if it's a temporary increase eg house sale proceeds you're protected up to £1 million for 6 months.

I found this out recently when dealing with house sale proceeds - scares the living daylights out of me that you could lose most of your house money before you've had chance to put it into another property.

Yes trust them, we also don't have much choice. It's not safe stashing your money under the bed. They give you interest on money too.

Another post innocently trying to unsettle. www.theguardian.com/us-news/2017/oct/14/russia-us-politics-social-media-facebook

I’ve not seen much comment on this story

https://www.ft.com/content/6208dad6-4cb7-40b4-9970-c38d648470af

I wanted to transfer money from my Barclays a/c ( I was in the bank ) to another institute to start an isa for this year .
As it was a considerable amount ( isa per year 20k ) but they wouldn't allow it saying it would have to be via something that sounded like chaps and it would cost me £25 !
This is my money going into another a/c of mine . Shocking .

Just make sure that you don't have more than £85,000 in any one banking institution. If you are fortunate enough to have more than £85,000 in your account/s please make sure you have it spread across multiple pots in different banks/building societies. For compensation purposes if the bank does collapse.

www.fscs.org.uk/what-we-cover/#:~:text=Banks%2C%20building%20societies%20and%20credit%20unions&text=Joint%20accounts%20are%20eligible%20for,the%20amount%20was%20first%20deposited.

Sorry, didn’t mean to turn it into an ad for them.

Nationwide is amazing - they've actually given me a couple of unexpected payments over the last couple of years for being a member. Astonishing!

Banks are like HR departments, they are there for the organisation not for you/us.

But I trust mine (Nationwide, technically a building society but they hold my accounts) they are clear on the (worsenng) interest rates and rules and occasionally give me £100 per account. I am free to go elsewhere if I want. £18 a month and I get travel insurance, breakdown cover, free withdrawals abroad, and mobile phone insurance, though that is less useful.