Bank £7500 Mistake - have i reproach?

skybob

Hi

A company I do work in the Republic of Ireland made a £7500 (in euro) transfer to me using a large Irish bank.

The bank filled in the transfer incorrectly, and acknowledge, this - on paper, and the money has gone from my clients account and into the ether.

I'm now waiting over a week for the transfer to make it into my account (they indicated 5 working days) which ends tomorrow, however they suggest it may take slightly longer.

I'm naturally annoyed by this, as i'm now at my limit, have been charged £100 by my bank for unauthorised overdraft fees.

I'm wondering, it is really just a matter of me sitting back and saying this is fine, or is there anything I can say or do to really push the matter (to hurry it along). Seems to me that they should resolve the issue with their own money, then reclaim the lost transfer on whatever timescales they wish - but thats probably wishful thinking?

Advice, comments and help welcome

Cheers
Bob

TBagpuss

I'm not sure what the legal position would be, but the bank should at least put you in the position you would have been in, had they done the work correctly.
As a minimum, that should include their paying the bank fees you have incurred and making sure that your record is not affected - is the bank charging you the overdraft fees the same one which made the mistake?

skybob

Hi

Thanks for the reply.

No the bank transferring the funds is the Bank of Ireland in the republic, transferring into my Nationwide account in the UK.

I can live (grudgingly) with the fines, but I'd love a spanner to wave at them as they don't seem to have any definitive date that the transfer will be made - even though they acknowledge it was an admin error on their side.

Ahh banks

Bloomberg

skybob wrote: »

Hi

A company I do work in the Republic of Ireland made a £7500 (in euro) transfer to me using a large Irish bank.

The bank filled in the transfer incorrectly, and acknowledge, this - on paper, and the money has gone from my clients account and into the ether.

I'm now waiting over a week for the transfer to make it into my account (they indicated 5 working days) which ends tomorrow, however they suggest it may take slightly longer.

I'm naturally annoyed by this, as i'm now at my limit, have been charged £100 by my bank for unauthorised overdraft fees.

I'm wondering, it is really just a matter of me sitting back and saying this is fine, or is there anything I can say or do to really push the matter (to hurry it along). Seems to me that they should resolve the issue with their own money, then reclaim the lost transfer on whatever timescales they wish - but thats probably wishful thinking?

Advice, comments and help welcome

Cheers
Bob

If you do not make a habit of going overdrawn then the your bank will more than likely as a good will gesture waive any charges. Once the funds clear I would make this the first course of action as it will probably be the easiest. I do not suppose that there would be any harm in asking the Irish bank for recompense in view of the stress and inconvenience to which you have been subjected, all the best.

[Deleted User]

Bloomberg wrote: »

If you do not make a habit of going overdrawn then the your bank will more than likely as a good will gesture waive any charges. Once the funds clear I would make this the first course of action as it will probably be the easiest. I do not suppose that there would be any harm in asking the Irish bank for recompense in view of the stress and inconvenience to which you have been subjected, all the best.

ask the irish bank and hopefully their goodwill gesture will give you the £100 back

fannyanna

Hi

If you've incurred costs (overdraft fees) because of an error the Irish bank have made they should reimburse you.

As they have admitted their mistake I'm sure this shouldn't be a problem. However, if they try to get out of it make a complaint with them.

You shouldn't have to pay overdraft fees simply because the Irish bank made a mistake.

Annisele

You might do better trying to get the £100 out of the company you've been working for, rather out of than the Irish bank. (I'll call them ABC for ease).

From the sounds of it, the problem is entirely the fault of the Irish bank. However, you are not the customer of the Irish bank, so it may have no interest in you whatsoever.

Your contract is with ABC, and it's ABC's job to pay you according to the terms of your contract with it. If ABC hasn't done that, even if it's the Irish Bank's fault, you've probably got a better claim against ABC than you have against the Irish Bank.

ABC is the customer of the Irish Bank, so if ABC pays you the £100 it may well be able to reclaim the money from its bank.

This depends on your relationship with ABC though! You might not think it's worth potentially irritating them if you want future business through them.

fannyanna

Annisele wrote: »

From the sounds of it, the problem is entirely the fault of the Irish bank. However, you are not the customer of the Irish bank, so it may have no interest in you whatsoever.

Your contract is with ABC, and it's ABC's job to pay you according to the terms of your contract with it. If ABC hasn't done that, even if it's the Irish Bank's fault, you've probably got a better claim against ABC than you have against the Irish Bank.

ABC is the customer of the Irish Bank, so if ABC pays you the £100 it may well be able to reclaim the money from its bank.

This depends on your relationship with ABC though! You might not think it's worth potentially irritating them if you want future business through them.

I disagree with the above.

You are what the FSA would term an eligible complainant with regards to the Irish Bank and would be able to complain about them.

In addition you'd be hard pushed to claim ABC are responsible for the actions of their bank.

chambta

fannyanna wrote: »

I disagree with the above.

You are what the FSA would term an eligible complainant with regards to the Irish Bank and would be able to complain about them.

In addition you'd be hard pushed to claim ABC are responsible for the actions of their bank.

In practice though your theory is unlikely to gain anything.

opinions4u

fannyanna wrote: »

I disagree with the above.

You are what the FSA would term an eligible complainant with regards to the Irish Bank and would be able to complain about them.

In addition you'd be hard pushed to claim ABC are responsible for the actions of their bank.

Although of course the FSA has no power to regulate a bank operating in the Republic of Ireland.

The OP's best course of action is to politely request sympathy from Nationwide. If that fails, then asking ABC (Dublin) Ltd to reimburse is the next step. ABC (Dublin) Ltd should then seek recompense from the bank that made the mess.

fannyanna

opinions4u wrote: »

Although of course the FSA has no power to regulate a bank operating in the Republic of Ireland.

The OP's best course of action is to politely request sympathy from Nationwide. If that fails, then asking ABC (Dublin) Ltd to reimburse is the next step. ABC (Dublin) Ltd should then seek recompense from the bank that made the mess.

Indeed but the Irish Financial Services Regulatory Authority will