advice please A&L account

balgobin

I made a money transfer of £70 from my A&L account into my ing account. My mistake, I hadn't set up the correct details with ING so the £70 never reached my ING account. I contacted ING they adviced the A&L would need to recall the payment, I contact A&L who wrote to say as I did the transfer on the internet they couldn't trace it for me. ING still saying they can't trace it!
Somewhere out there is my £70 waiting to go into the holiday fund?
Any ideas where I go to next in my hunt for it.

Sillychuckie

A&L not being able to track it is complete BS.
Call them back and demand it.

If ING didn't receive it, it has nothing to do with them. It is entirely A&L's responsibility. Do not accept NO for an answer, and demand to speak to anyones supervisor that tells you otherwise.

vr6lad

balgobin wrote:

I made a money transfer of £70 from my A&L account into my ing account. My mistake, I hadn't set up the correct details with ING so the £70 never reached my ING account. I contacted ING they adviced the A&L would need to recall the payment, I contact A&L who wrote to say as I did the transfer on the internet they couldn't trace it for me. ING still saying they can't trace it!
Somewhere out there is my £70 waiting to go into the holiday fund?
Any ideas where I go to next in my hunt for it.

When you made the transfer, did you keep a note of the reference number for the transaction? Like Sillychuckie says, call A&L and demand it back. Nothing to do with ING. Even better than calling them is a trip to your branch and speak to someone about it. Lay it on to them about 'the inconvenience' caused and I'm sure you'll get your £70 back fairly sharpish!

balgobin

Thank you both I have just phoned A&L and told them " I have taken advice!"
and there is no way they can't trace the money- a form has how been filed in and someone will contact me on monday. unfortunatly my phone died on me half way through the call so have now logged the fault with BT wil lwait and see on both fronts.

MarkyMarkD

Sillychuckie and vr6lad

It wasn't A&L's fault, it was balgobin's fault

There's no need to blame the banks all the time!

Why, balgobin, did you try to transfer money the way you did, rather than by DD (initiated from the ingdirect site) which avoids loss of interest (and avoids entering the wrong account details too)?

YorkshireBoy

MarkyMarkD wrote:

Why, balgobin, did you try to transfer money the way you did, rather than by DD (initiated from the ingdirect site) which avoids loss of interest (and avoids entering the wrong account details too)?

There is one scenario - and I'm going to use it myself next week.

I'm transferring money from my own ING account, through our common linked account, and into my wife's ING account in order to exploit the 6% reward interest offer - and I want to ensure I get it done before the weekend so as not to lose any more interest.

Even though I've never yet had a failure with one of these DD's, I'm exercising caution. Rather than do both transfers by DD (and risk going overdrawn if there's a problem), I'm sending the money to my wife's account by online banking WHEN I see my payment by DD as cleared funds in the current account in the early hours of Wednesday morning next week.

To the OP: Whenever I open up a new current account (or savings accounts operated by DD's), I always send 'test payments' of £1 to all my other accounts (current accounts, savings accounts, credit cards etc) just to prove the conduit. You might want to consider doing the same, to minimise the chances of this happening again.

balgobin

MarkyMarkD wrote:

Sillychuckie and vr6lad

It wasn't A&L's fault, it was balgobin's fault

There's no need to blame the banks all the time!

Why, balgobin, did you try to transfer money the way you did, rather than by DD (initiated from the ingdirect site) which avoids loss of interest (and avoids entering the wrong account details too)?

If I knew why guess I won't be in this mess- am not blaming the banks for my mistake- only that with all their systems none of them seem to be able to trace my money, but it must be sitting somewhere! and if it stops someone else making the same mistake as me all well and good.

homersimpson_3

I made a money transfer of £70 from my A&L account into my ing account.

Did you add ing to payee list on a&l before doing transfer?

I contact A&L who wrote to say as I did the transfer on the internet they couldn't trace it for me.

a&l can trace payment- their computer would know where it sent the money. internet help desk can trace payments for you. You could go into branch but if your account is solely on line the branch will only tell you to phone internet help desk so don't make a wasted journey into branch.
a&l will ask you to complete a form and it can take a few weeks whilst payment is traced & re credited back to account.

balgobin

Thank you homersimpson I completed ING details within my A&L account, just not at the ING- I know silly- I will now go and try your advice, re contact the via my net account.

MarkyMarkD

YorkshireBoy wrote:

There is one scenario - and I'm going to use it myself next week.

I'm transferring money from my own ING account, through our common linked account, and into my wife's ING account in order to exploit the 6% reward interest offer - and I want to ensure I get it done before the weekend so as not to lose any more interest.

Even though I've never yet had a failure with one of these DD's, I'm exercising caution. Rather than do both transfers by DD (and risk going overdrawn if there's a problem), I'm sending the money to my wife's account by online banking WHEN I see my payment by DD as cleared funds in the current account in the early hours of Wednesday morning next week.

To the OP: Whenever I open up a new current account (or savings accounts operated by DD's), I always send 'test payments' of £1 to all my other accounts (current accounts, savings accounts, credit cards etc) just to prove the conduit. You might want to consider doing the same, to minimise the chances of this happening again.

So looking at the dates there:

Doing it YB's way:

Monday - tell ING to transfer money to A&L
Wednesday - money arrives at A&L
Wednesday - tell A&L to send money back to ING which doesn't then leave until Thursday
Monday - money arrives back at ING.

Interest lost at ING for one week; interest gained at A&L for one day. (Total loss of interest = 6 days).

Doing it my way:

Monday - tell ING to transfer money to A&L
Wednesday - money arrives at A&L
Wednesday - tell ING to direct debit from A&L to wife's account
Friday - or maybe Monday - money arrives at ING and debits A&L current account.

Interest lost at ING for 4 days or one week; interest gained at A&L for 2 days or 5 days. (Total loss of interest 2 days either way).

My solution doesn't involve any additional loss of control - it's just better!

I would personally instruct the DD on the Tuesday, as there's no way that the money won't arrive from ING in time, but that's me being slightly more rash I suppose.

YorkshireBoy

MarkyMarkD: I have several linked accounts with ING (including A&L), but the account I'll be using for this exercise is Yorkshire Bank - which doesn't hold on to the money for an extra day like A&L appears to.

Doing it "my way", I'll only lose 4 days interest at ING since the money WILL be back with ING on Friday morning.

For the OP though, your method is better.