Aldermore


#1

Not sure if any Monzo users have experience with Aldermore?

Tide had problems with their customers changing over their bank as Aldermore refused to accept their new account details:

“After investigating and speaking with different parties at Aldermore, they have informed us that they won’t accept transfers with Tide due to a rule at their end relating to Fintechs in general. We are really sorry about the outcome of this conversation but there is unfortunately nothing else we can do as it is their decision.”

It seems crazy to me that a firm refuses to accept all Fintechs, so I wondered if Monzo users had problems with Aldermore?


(Jamie 🏳️‍🌈) #2

What were they trying to transfer? Funds, or bank switching?


#3

that they won’t accept Tide accounts as a nominated account to transfer funds to and from


(Hugh) #4

Does Tide operate a shared sortcode? If so I think they have grounds to refuse to pay into the account else they do not and would be in breach of their BACS agreement (as I assume they take Direct Debits?).