Reversal of a transaction?

OneBrightStar

Hi,

I have a current account with HSBC which is my main account as well. The other day I sold some stuff and this guy did the instant transfer, took the item and after three hours, money wasnt in my account any more?

When I contacted HSBC CS, they couldnt help me. I spoke to one of advisors in my account branch and she told me to report it to police and stuff.

Its all done(Reported to police and filled internet fraud form etc) now but I wonder how is it possible to reverse a transaction from current account? Why they never informed me when they took money back from my account? Was it Bank's fault because money came from other HSBC account so transfer was instant in real time.

According to them, they dont know if I'll get my money back or not....then who does?

Anyone can advise me here what shall I do to get my money back as it was quite a big amount for me (£900).

Cheers

ukric

Sounds like they've done a BACS recall. A lot of ppl get this when companies have mispaid. They can recall on the same day that the payment goes in by asking their bank to do it for them. Golden rule, always wait 1 day before releasing goods, just to be on the safe side.

DirectDebacle

Can anyone tell me if this is correct. I have an A&L savings account linked to a Nat West current account. I arranged a transfer of funds from A&L to Nat West via BACS. After about 3 days the transfer landed in the Nat West A/C. The same day it landed I went into the branch to do a CHAPS transfer of the funds to another savings A/C with a different bank. This was Friday morning. Nat West told me it would not go through until Monday as there could be a recall and they had to wait 24hrs. Explained it was my money and I wouldn't recall it. They said rules is rules. Is this correct or are they just hanging on to my money to earn themselves a couple of days interest over the weekend. It isn't a small amount they have.

Mikeyorks

It's unusual. And a Bank won't do a recall on your behalf unless you can prove a 'mistake' has been made.

Most BACS recalls are to correct an error made by the Bank - they're not customer inspired. Hence the logic Nat West appear to be locking on to?