Inter-bank transaction delays involving Currencies Direct

ajoconnell

Hi,

Has anyone here experienced the 'disappearing' of precious funds for days on end between two UK bank accounts?

Here's the story: I used Currencies Direct who very rapidly received money in Euros from my French bank account into their HSBC account, they then transferred an agreed Sterling amount as part of our contract from another of their UK accounts into mine with the promise it would take no more than 4 working days. Guess what: it's gone 'missing'. A 'trace' has been placed on it to find out where it is and in the meantime I am left without the much-needed funds and no explanation, powerless to do anything about it.:mad:

I then asked them whether this is what banks do when they need a few extra here and there to complete there own investments, to which they responded that the amount is too small for it to have been used for 'other things' in the meantime. Well obviously. But if you multiply it several thousand times over to include other poor suckers like myself- the amount is enormous.

Has anyone else been through this? Does anyone have advice to give?

Cheers,
Annabelle

rockitup

I had £25k ($ equivalent ) go missing on a US to UK transfer a couple of months ago. It reached the intermediate bank in the US but was lost for 5 days and calls to Citibank UK couldn't trace it.

I asked the Currency transfer firm to give me a transaction number which they did immediately and a second call to Citibank UK got it traced and in my bank account within 10 minutes.

Best to ask Currencies Direct for the relevant number and phone your receiving bank as a first option, good luck anyway