21 February 2015
So, having taken the decision in August last year that the interest rates available with the big banks are risible and also disgust at their methods, I decided with some trepidation, to move my account to a bank which was offering 3% gross interest on a current account. I already had a savings account with them so the switch went ahead. Despite all the assurances that it would "only take seven days" it did in fact take 15. This was because the level of security at the new bank was so strict that every single direct debit and standing order had to be verified in person, by phone. Anyway, so far so good.
I recently thought that the charities I was supporting through a monthly amount could well do without my patronage as they were paying their CEOs £160k per annum which I thought was outrageous and in some cases were simply not ensuring that donations were doing good in the areas which I wanted to reach. Locally the Air Ambulance service do sterling work in the peaks around here so I chose them as a charity I wanted to support, filled in a standing order mandate, correctly dated and signed, and thought that would be the last of it. Oh dear me no! My new banker rang me on my mobile and when I did not answer (withheld number so no, I don't answer them) they got me on the house phone.
They told me who they were, asked me who I was and then proceeded to ask me all sorts of security questions. I pointed out that they had rung me so how did I know who they were and the young lady with a strong Scottish accent assured me that I could ring them back if I so wished! At this stage I was losing the will to live so asked why the call was necessary.
"I need your permission to proceed with an instruction we have received"
"Eh?"
"Oh, wait a minute, is this to do with my standing order to the Air Ambulance?"
"Yes, that's right"
"Well, you have my signed standing order authority!"
"But I cannot process that without your permission"
"But a signed mandate gives you that permission"
Silence.
Oh my life! So having given permission verbally and wondering why such a level of security was needed with a transaction of a fairly small amount I forgot about it. 7.30 am the following morning they kindly texted me that they had set up this standing order and if I had any queries I could ring them up.
I didn't.