HSBC - where's my money gone?

milliemonster

I paid in £400 of cash into my current account on saturday to prevent me going overdrawn, but I have just cheked my account online and it hasn't been credited yet and I am now overdrawn, does anyone know when it should be credited? I presumed it would be today ? now I am worried I am going to incur charges

new2civvystreet

Did you pay it in over the counter, or one of those machines that you put the money into the drawer and it takes it giving you a receipt?

milliemonster

in the machine and got a receipt as the counter was closed

YorkshireBoy

milliemonster wrote: »

does anyone know when it should be credited?

Today, according to your T&C's...

http://www.hsbc.co.uk/1/PA_1_5_S5/content/uk/pdfs/en/personalbankingterms_conditions.pdf;jsessionid=0000VFjPbo-Rb70FIDPhf6y008N:11j74l29q (see condition 9.1.5 last para)

milliemonster

thanks for that yorkshire boy, yes those T&C's clearly state cash will bre credited immediately, funny how its not on my account then online, they have honoured transactions today (maestro at argos for a xmas present) so I will be keeping my eye on my account tomorrow and possibly giving them a ring if my balance is not updated

YorkshireBoy

milliemonster wrote: »

...those T&C's clearly state cash will bre credited immediately...

No they don't. They say that cash paid in via self-service machines will be credited and cleared on "the next working day".

SJ1

be careful with those self serve machines - if its cash its worth waiting and not using them. Its too easy for it to go missing and for the bank to end up trying to get out of paying for it as inevitably there will be some unscrupulous people who will claim that they paid in and didn't.

Extant

You have a receipt? Just go and talk to them.

If it's their fault, you have no need to worry about charges.

nzseries1

SJ1 wrote: »

be careful with those self serve machines - if its cash its worth waiting and not using them. Its too easy for it to go missing and for the bank to end up trying to get out of paying for it as inevitably there will be some unscrupulous people who will claim that they paid in and didn't.

Surely, as long as you have the receipt, then you're okay. And surely, if you don't have the receipt, HSBC will just laugh at you.

ShelfStacker_3

BarclaysManager wrote: »

You have a receipt? Just go and talk to them.

If it's their fault, you have no need to worry about charges.

They won't have a "receipt", they will have an "acknowledgement". The way the machines work is that the cash and a slip is put into an envelope, the customer inserts their card, they key in the amount they say is in the envelope and they get a little slip saying that they said they deposited that amount. The envelope then is opened by a cashier, checked and input.

Put simply, it can't be a receipt and shouldn't be treated as such, because it could quite easily bear absolutely no relation to what was actually deposited. If it did work that way, you could put a tenner in an envelope, say you've put in £100 (because that's the amount you entered on the keypad) and we wouldn't have a leg to stand on.

But anyway, this is all academic, as the machines aren't emptied and the transactions not input on Saturdays. The envelopes stay in there until the following Monday, when they'll be checked and input. It won't be HSBC's fault, as that's the way the system works and always has. No counter open = no counter to open envelopes and put your money in.

ShelfStacker_3

SJ1 wrote: »

be careful with those self serve machines - if its cash its worth waiting and not using them. Its too easy for it to go missing and for the bank to end up trying to get out of paying for it as inevitably there will be some unscrupulous people who will claim that they paid in and didn't.

The envelopes are counted and the number checked against the deposit log every time they're emptied. That and there's really nowhere for the cash to go so long as it's securely in an envelope - once you've put it in the machine, it just drops down into a big bag inside a securely locked metal box. This is the one use for the acknowledgement slip - saying "we've got the envelope you deposited", no more.