CO-OP Problem?

MRC_2

Hey, a little unsure of what's happening so could do with some help!

I had left my current job earlier this month and was expecting my final wage to go in my bank account on the 19th of this month, to which it did. They paid me too much so I knew that I had to leave some in the account for when they ask for it back, which was fine. Doing christmas shopping, spending around £250 of my wage, I then check the next day to find that I am £250 overdrawn, with no sign of ever been paid on statements or anything. Later on the 20th, I receive a letter from my employer with a wage slip with the correct amount, advising me that I'll be paid on the 24th. Bearing in mind this come on the 20th of december (1 day after being paid).

So now, I'm £250 overdrawn, charges coming through and a missed DD. Having spoke to coop, they said that it's not on the statements but theres a note saying my employer requested the transaction to be cancelled on the 18th and 19th of december. So, I had the money for 1 day? - Shouldn't it have been cancelled when the employer requested it to be? - I'm not happy about paying charges as I wasnt aware at all that I shouldn't have been paid on the 19th and that the money would then be taken off me! To top it off, my account has gone into review for closure as they have ' a strict policy '...:eek::eek:

Sorry about the long post. Hope someone can help!

YorkshireBoy

I believe Co-op operate a 'three strikes and you're out' policy. Do you have a history of account abuse and this is perhaps the final straw?

Fundamentally though, your 'beef' is with your ex-employer. That said, maybe a letter of explanation to Co-op (sent very quickly, or perhaps handed in at your branch) will persuade them not to close your account?

Jake'sGran

I don't think the bank should have cancelled the deposit just because your old employer asked them to. I have read your message a few times to try and really understand what has gone on here and I get the impression the employer might have had a cash flow problem but if this is the case he should not have been able to cancel a legitimate payment, and it was only a few days until the proper date. It surely cannot have been done just with a telephone call. I bank with Smile, the online bank of the Co-op and have to put things in writing if I want anything cancelled even if I only do an online
message. I would ask the bank if they could let you see a copy of the employer's instructions and ask if the action the bank took is in line with The Banking Code. See waht responses you get. I certainly wouldn't pay any bank charges resulting from the bank's action. Good luck.

YorkshireBoy

Jake'sGran wrote: »

I don't think the bank should have cancelled the deposit just because your old employer asked them to.

This may explain what happened...

http://www.bacs.co.uk/Bacs/Templates/ContentPages/FAQS.aspx?NRMODE=Published&NRNODEGUID=%7b7D87FAF0-DBC8-47F2-A171-6EFDD90F6899%7d&NRORIGINALURL=%2fBACS%2fBusinesses%2fFAQ%2fBacs%2bDirect%2bCredit%2fBacs%2bDirect%2bCredit%2bFAQs%2ehtm&NRCACHEHINT=Guest (bottom FAQ)

I certainly wouldn't pay any bank charges resulting from the bank's action.

I'm not sure OP will have a choice. They'll probably have to rely on either goodwill from the bank or reimbursement from the ex-employer.

MRC_2

YorkshireBoy wrote: »

I believe Co-op operate a 'three strikes and you're out' policy. Do you have a history of account abuse and this is perhaps the final straw?

Fundamentally though, your 'beef' is with your ex-employer. That said, maybe a letter of explanation to Co-op (sent very quickly, or perhaps handed in at your branch) will persuade them not to close your account?

Thanks for your help. I phoned back shortly after and it sounds as if it was some jobsworth as you are right with the 3 strike rule. Theyve added a strike for this. I'm pretty unhappy about that as I wasn't to prevent this really.

Co-op have also removed any trace from being paid off my statements, when arguing the fact that they shouldn't do that (it looks like I've used money that I didn't have), they agree that it shouldn't have happened. Banking error?

Going to go to branch tomorrow, hopefully have more joy there. :A