Lost £2500 in transfer

chrisp_2502

I am holding a barclays current account from last 5 years.

I requesed a transfer of £2500 to a different bank account with in UK.

This was the 3rd time I've tranferred money to my new bank account.

I see the funds being debited from my barclays account but not yet credited to another bank account. Its been 9 working days and no sign yet. I called them up and they said FSA allows them to take 8 weeks to investigate this.

I have been charged for an oversdraft of £50 in the past... should I not then penalise the bank for this delay in transfer which will cause me problems.

Can anyone suggest a way out to solve this issue. Any authority where I can logde a complain.

Thanks,
Chris

oldfella

tell them 8 weeks is not acceptable and you want to know where your money is. Tell them to do a BACS audit.

Mike

ohmsoft

8 weeks is the maximum time a firm is allowed to deal with a complaint before the customer is entitled to take the matter to the Ombudsman. Not the maximum time they have to find your money.

Yes, I believe you should "penalise" the bank for the dalay (providing it is their error) they should at least provide lost interest on the funds and in addition you will need to be compensated for inconvienience and out of pocket expense.

Try calling and asking to speak to the Managing Director - unlikely you'll get them but will show your serious...