Suspense Account

sianchristie86

Please can someone help me!?

I went to pay off my credit card bill this morning to Citi Cards and the man on the phone said that he had entered by bank account details into the system to take money from my debit card but it wouldn't take the money from it. He tried four times to take the money out but then he gave up.

I then checked my online banking and the money had been taken out of my account twice (it had wiped me out so that the 3rd and 4th payment could not be taken out)! Now however I am having a nightmare trying to get the money back.

My bank are saying its not fraud because I have dealings with Citi but have informed me that the money has been taken from my account. Citi say the money hasn't been credited on my account. They think it must be in a suspense account.

What is this suspense account? Who runs it? And how/when do I get my money back? Im very concerned because it was alot of money!

Hope someone can help.

456789

A suspense account is where money goes when there is nowhere else to go - i.e. things sent in error etc. and is usually checked periodically and the money put in the right place

Google says:

an account used temporarily to carry doubtful receipts and disbursements or discrepancies pending their analysis and permanent classification
wordnet.princeton.edu/perl/webwn

An account that carries charges or credits temporarily pending the determination of the proper account or accounts to which they are to be posted. ...
accountingbuzz.com/glossary/s.html