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MSE News: Lloyds and Halifax to refund charges after money transfer glitch
Former_MSE_Helen
Posts: 2,382 Forumite
"In the worst cases, people have been left without their wages paid in, but you can fight back if hit by charges..."
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A thread was started yesterday once there was problems:
https://forums.moneysavingexpert.com/discussion/4401577Trinidad - I have a number of needs. Don't shoot me down if i get something wrong!!0 -
Although this is a 'one-off' failiure and Lloyds BG is saying customers charged can recover their charges due to failiure of their system - and I'm sure this will happen in all cases of a valid claim - it would have helped if this provision was already in place (as an agreement between the FPS members) before yesterday's hiccups.
Who knows, maybe there is some kind of formal agreement covering this situation but if customers had the proviso written into their 'agreements' (you know - those prolix 'legally binding' 'agreements' banks make all their customers sign up to on day one?) it might help with the ill feelings and anxiety this sort of situation briefly raises.
There's a 'direct debit guarantee' which has existed for yonks, so why not a 'payments outage guarantee' too - because the question of being charged is bound to come up the next time this happens also......under construction.... COVID is a [discontinued] scam0 -
The legal position with FP is that they should credit the recipient's account at the latest by close of business on the next working day.
So most FP were within this.
The problems have arisen whereby the old BACS system has been replaced.0 -
Law of the land:Although this is a 'one-off' failiure and Lloyds BG is saying customers charged can recover their charges due to failiure of their system - and I'm sure this will happen in all cases of a valid claim - it would have helped if this provision was already in place (as an agreement between the FPS members) before yesterday's hiccups.
Who knows, maybe there is some kind of formal agreement covering this situation but if customers had the proviso written into their 'agreements' (you know - those prolix 'legally binding' 'agreements' banks make all their customers sign up to on day one?) it might help with the ill feelings and anxiety this sort of situation briefly raises.
There's a 'direct debit guarantee' which has existed for yonks, so why not a 'payments outage guarantee' too - because the question of being charged is bound to come up the next time this happens also.
Close of business next working day.
No need to issue millions of new sets of terms and conditions to be binned by non-reading recipients.
Any refund of charges etc is going over and above their legal and contractual obligations. While it's right that they do it, they don't have to.0 -
I have an account with the Halifax and transferred money into that account on Monday from a COOP account to pay a FX contract.As I would incur fees etc when the money did not arrive after 2 hours I contacted Halifax on a high rate number and after 20 minutes I was told they were working on an IT issue. I made an official complaint and was contacted by their complaints department who claimed not to be aware of the problems. They said they would contact me back.
Later that day I was contacted to be told the other bank could not have transferred the money. They then went on to blame power lines, telephone line and then the weather. After a discussion for almost 30 minutes they said faster payments are not guaranteed and can take several days and accepted no fault or liability.
Obviously Lloyds TSB and HBOS although the same company have differing approaches to accepting ownership to their failings.
HBOS refused to log the complaint and I was told by the complaint representative (Text removed by MSE Forum Team) she was the highest authority within HBOS that complaints could be dealt with. I did ask to speak to her manager and was told I would receive a call back. I am still waiting, ignorant deplorable service.0 -
Well if they said that it's not much of a defence since it was their bank - in isolation - which couldn't 'login' to Faster Payments for most of a day whilst everybody else's payments to them were negatively impacted because of it.Later that day I was contacted to be told the other bank could not have transferred the money. They then went on to blame power lines, telephone line and then the weather. After a discussion for almost 30 minutes they said faster payments are not guaranteed and can take several days and accepted no fault or liability.
Having a banking-wide 'guarantee' in relation to charges in place to cover these inevitable outages (never mind precisely who did what to whom) simply makes sense to me given it is bound to occur from time to time - and when it did it would help spare customer service people from embarrassing themselves like that......under construction.... COVID is a [discontinued] scam0 -
I'm with 2 major high street banks and faster payments has never worked. All my payments sent or received online take 2 working days to reach.0
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I'm with 2 major high street banks and faster payments has never worked. All my payments sent or received online take 2 working days to reach.
You would have cause to complain and ask for compensation if that was true, since it has been a legal requirement since January 2012 that payments arrive at their destination no later than the end of the next business day.
Worth mentioning that this is a legal requirement as a result of EU legislation (for those who think the EU is just bad for the UK). Faster Payments would have been implemented in the UK the day after hell froze over if it had been up to the UK bankers and politicians.0 -
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jonesMUFCforever wrote: »Please tell us which ones and the name of the accounts you have.
Then someone can help you further.
With Lloyds TSB current account and RBS Royalties Gold account. Faster payments does not work and they each blame the other bank.0
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