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How long does a BACS Trace take to run ?
Juddster
Posts: 5 Forumite
I did an internet DD transfer from Bank A to Bank B on 10/09/08. The money left Bank A but never arrived in Bank B (Neither bank is Icelandic!) Bank A ran a "BACS Trace" on 01/10/08 which failed on 08/10/08 and are now running another trace. They said the trace could take 10 days to run.
Does anyone in the banking world know why a trace should take so long to run and why they could fail to run? Am I being fobbed off?
All the other electronic transfers I did between Bank A and Bank B arrived successfully.
Thanks,
Chris
Does anyone in the banking world know why a trace should take so long to run and why they could fail to run? Am I being fobbed off?
All the other electronic transfers I did between Bank A and Bank B arrived successfully.
Thanks,
Chris
0
Comments
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I had the same problem a while ago - the receiving bank had lost it. The sending bank gave me the trace within 24 hours.
Suggest you get cross with the sending bank.0
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