Lost bank transfer

jparnell

Hi,

Approximately three weeks ago, i applied for a Halifax current account. I promptly received a letter confirming my application, asking for three forms of ID, and if i haven't already done so, to fund my account with £100.

I sent my ID off via post, and also transferred £100 from my Egg savings account via BACS to my new Halifax account (using the sort code and account number they provided in the letter).

That was on the 2nd July. There were problems with my ID, so I had to go into my local branch and show them in person (I did this on Saturday). They confirmed all was ok, but there was no sign of the £100 I transferred from my Egg account.

I have since contacted Egg, who say they have had a look, and can confirm the money left my Egg account, destined for the correct sort code and account no.

Neither Halifax or Egg are accepting any responsibility for this money... and it looks like I'm going to lose £100 at this rate.

Can anyone offer any advise?

Thank you,
James

M_Thomson

jparnell wrote:

Hi,

Approximately three weeks ago, i applied for a Halifax current account. I promptly received a letter confirming my application, asking for three forms of ID, and if i haven't already done so, to fund my account with £100.

I sent my ID off via post, and also transferred £100 from my Egg savings account via BACS to my new Halifax account (using the sort code and account number they provided in the letter).

That was on the 2nd July. There were problems with my ID, so I had to go into my local branch and show them in person (I did this on Saturday). They confirmed all was ok, but there was no sign of the £100 I transferred from my Egg account.

I have since contacted Egg, who say they have had a look, and can confirm the money left my Egg account, destined for the correct sort code and account no.

Neither Halifax or Egg are accepting any responsibility for this money... and it looks like I'm going to lose £100 at this rate.

Can anyone offer any advise?

Thank you,
James

You won't lose the money. Your account was probably not offically opened until you confirmed your ID last Saturday, so you should have waited until then before you did the transfer. The money is probably somewhere in the system as the account was not fully up and running. It should have bounced back by now. What type of account is it with Egg that you have? Savings I guess. Ask Halifax if the money is sitting in a suspense account somewhere? Failing that ask Egg to do a BACS trace on the money for you.

regularsaver1

I agree with M Thompson - current accounts will not accept funds until the id has been full verified, so the funds may be in clearing with Halifax (the branch shoyld be able to call them)

also, the funds could be on their way back to Egg

PS I would never recommend posting ID, nor sending BACS for your opening transaction - as this triggers your card

jparnell

Thanks for the advice. I've learnt my lesson regarding ID and transferring money - shame its a bit too late.

Egg are insistent the money was transferred, and hasn't been sent back. So I guess the next step is to get in touch with Halifax and ask whether it could be in a suspense account.

I guess in this day in age, there must be an audit trail, and someway of finding out exactly where it is.

James

Turning_into_scrooge

regularsaver1 wrote:

I agree with M Thompson - current accounts will not accept funds until the id has been full verified, so the funds may be in clearing with Halifax (the branch shoyld be able to call them)

also, the funds could be on their way back to Egg

PS I would never recommend posting ID, nor sending BACS for your opening transaction - as this triggers your card

and this means

jparnell

Turning_into_scrooge wrote:

and this means

I think regularsaver1 means that providing ID and funding the account with £100 "activates" it, and means your cards will automatically get sent out; so it's important to get these two things right!
I may be wrong though...

regularsaver1

I mean to put it bluntly - don't send funds until id has been fully verified

The £100 orders the card - so this will delay the process now

trplumbing

Hi there, simply put you should contact Egg. They sent it, and they can confirm this. As you say they can confirm where and when it went, whereas the Halifax cant, therefore Egg are your one and only contact.

They can contact the Halifax probably with better results than you can, so make sure Egg take the responsibility and let them do the work and then let them call you when the money is traced.

Do not let them fob you off!