Bank Payment Trace

amz84uk

Hi, I have a problem with a payment of £800 that has gone 'missing'. It left a Nationwide account on Mon 27 Apr, and would take up to 5 working days to arrive into my HSBC bank account.

However, as it didn't appear, Nationwide began a trace on it last Monday, but as of yet, they haven't managed to come back to me with a response.

What are my options in finding this £800 that has disappeared, and how long should it take Nationwide to locate it?

Thanks.

Mikeyorks

You don't say if you made the payment ... if so was it using existing data (bill payment / SO?) .... etc. In other words I take it you've checked the data involved points at your account - if you initiated it?

Other than that - your options are to wait for the trace? Bit odd they initiated it when you said ... as it wasn't really overdue being a Bank Holiday etc? If they have traced it to another Bank ..... they have to wait until they complete their side of it. So expect a few more days.

dc110

I would suggest that Nationwide wont begin a trace until they know it has not been rejected back and when they advised you then had begun a trace perhaps they meant that they would do at a later date

probably be 10 working days (5 days there, 5 days back) before they even begin a trace which brings us to about now.

I would say the trace probably hasnt started yet so therefore give it until the end of the week minimum, possibly into next week

amz84uk

Hi, thanks for your responses. Mikeyorks - The payment was set up as a standing order, and we have checked the account number and sort code that it was sent to from Nationwide, and into my HSBC.

Nationwide weren't willing to begin the trace until 1pm of Working Day 6, and advised that it can take upto 48hours, but this time period has lapsed now.

I'm just concerned that Nationwide will bounce me back and forth between themselves and HSBC, and stall for time.

MCGONIS

I have had a similar problem. I transferred my bank from Halifax to the Abbey National. Abbey transferred everything over. I then sent £50 to my Halifax Mastercard from my Abbey account. The payment never arrived. I got charges as a result. When I spoke with the Abbey telephone centre, they started a BACS trace. Seven days later they wrote saying to speak to the Halifax as they (Halifax) are unwilling to deal with a third party. After six telephone calls, the Halifax found the missing £50 and credited it. Abbey had not input my card number when they transferred all my bill payments accross. I have gave them a ring to ask for £15 - the late fee and £3 towards all the calls. Operator in the far east, told me to write a letter! It's a nightmare. I feel for you. Hope you get it sorted...

amz84uk

Hi McGonis. Thanks for sharing your story. Nationwide have managed to locate the funds (gone into a wrong account) and are reversing the transaction, so it'll go back into Nationwide - it'll take another 3 working days though - nightmare!

Once in the Nationwide (so, back to square one), I think it's going to be best going to the bank and just withdrawing cash, and depositing it into HSBC - it'll be more efficient/quicker and guaranteed too (unless I get robbed in transit - i hope not!)

I'm going to ask Nationwide for £30 compensation for inconvenience, as if the tables had turned, no doubt they would have slapped on £30 without question. As a customer, it's crazy that we have to write letters, and we're forced to make a long thing out of it!

If they do ask for the complaint to be put in writing, I'll charge them an additional £35 for the letter :-p

Hopefully they won't take me to court for unfair banking charges! Hehe!

rb10

amz84uk wrote: »

I'm going to ask Nationwide for £30 compensation for inconvenience

Who set up the standing order? You or Nationwide? As if it was you, then they haven't done anything wrong, but just followed your instructions. And if they set it up, then did you provide the correct details to them?

amz84uk

Totally agree with you rb10. If I had given wrong info, then I hold full liability for the error, and cannot hold Nationwide responsible for the mistake.

I had instructed Nationwide to set up the Standing Order, and provided them with the account name, account number, and sort code number, together with the date the payment should be made, and the amount.

Mikeyorks

In post #4 you confirmed you'd checked the detail? So I assumed you had online access.