Customer Service Speed

Do people find CS to be particularly slow or have I just had a few slow experience?

So far, 6 days to change address and still not completed.

I think they have struggled due to COVID and had some staff sick.

It seems to come in waves of activity on here but I think your best bet is still the support desk and just wait it out.

I had a super quick response early this week :slight_smile:

That’s great to hear.

I’m new to Tymit and both responses been pretty slow.

But good to hear this isn’t typical of them so happy to wait it out :slight_smile:

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I’ve had good experiences and quick replies if I’ve emailed CS. As @jase has said COVID probably has slowed things down…

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That is reassuring.

Thanks for letting me know.

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Just had an update from CS:

To change my address, they wish to run a soft credit check again? I have never heard of this before. Monzo take just seconds to update address, HSBC just minutes. No soft/hard check.

Does anyone have any idea why this is?

Soft credit checks for address verification are perfectly normal… If you view your credit file you’ll see it from when you initially applied.

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I do not have access to Experian, only Equifax and Transunion so never noticed.

I just figured as no other bank has mentioned a soft check for address verification, that it wasnt done.

I am a tad confused how I passed first time given I am not registered on the electoral roll at the address they hold for me (it was a temporary address between moving properties).

A lot for me to learn - I am sure they know what they are doing.

@daniel1902 running a soft search to update an address isn’t very standard but it’s absolutely fine. Most companies will run an ID check instead but they may have tried this and if failed due to recent moves. An ID check is often cheaper and the rules around running credit checks mean it should be used.

Therefore a soft credit check is more likely to bring up these details depending on what Tymit request from Experian.

Although Monzo wouldn’t call this out, you can be sure they would perform this KYC/AML check when you updated the address.

In short: Nothing to worry about. The soft search will mean other lenders do not see you have been searched.

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Thanks for this Jase.

I was aware of ID check, such as at POS terminals whereby they carry it out via your debit card. I imagine this is not possible for Tymit given its done online.

This is all fairly new for me with my existing credit card with my bank being a more traditional affair so thanks for keeping me right.

No problem Daniel @daniel1902

I’m not sure what you are referencing about ID checks with a debit card at Point Of Sale?

There are certain obligations Tymit has perform to properly assess your identity and using a Credit Reference Agency is one of the most common methods. Otherwise it will be a whole lot of manual checks of documents which just cannot scale.

The industry standard for many years has been termed 2+2 which is verifying you exist on 2 different independent sources of data; e.g. court records, electoral roll, credit records, etc… 2+2 is becoming a little old and doesn’t always conform the MLD6 (Money Laundering Directive 6).

MLD5/6 basically enforces some PEPs and Sanctions checks to ensure you are not a Politically Exposed Person or on any international sanctions lists such as that published by UK’s HM Treasury. MLD6 extends this further to check you aren’t a family member of a PEP or sanctioned person.

Gosh I am soooooo boring!:man_facepalming::joy::thinking:

Ok this is way off topic now but I hope it gives some background on ID checks.

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The ID check with a debit card at Point of Sale terminals I have seen a few times, notably when upgrading my phone contract. They will ask me to put my card in, say it is an ID check, enter my PIN and no funds are taken from my account but an active card check carried out. Maybe they are simplying it for Joe Bloggs and in reality it is not an ID check but that is at least what they have told me :slight_smile:

Regarding the rest, that really is interesting. I had no idea about all that goes on in the background. I feel banking (and my industry, energy) is so misunderstood by many (me included) that a lot of frustration is directed to the wrong place when in fact the organisation in question is just complying with legislation.

Thanks for again!

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Ah ok yeah not an ID check really but they are checking the name on the account matches the cardholder name probably, and that the details are true.

If you are upgrading, they want to ensure you aren’t skipping out the store with a new phone on a card not authorised :wink:

Energy is a great sector and as you say, bound by regulation often unthought of.

Cheers!

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