Faster Payment Error

Rupert_Bear

Plxply wrote: »

Hello,

I sent a small transfer of £11.20 from my Lloyds TSB account to my HSBC account, the transaction failed according to Lloyds and however the money seemed to have left my account. I checked back about 6 hours later and found that the £11.20 was both in my Lloyds account and my HSBC account.

Obviously one of the £11.20's wasn't my money and as such on the 17th Lloyds took the money from my account. My question is to not whether they can do that, but how did it happen? Surely a Faster Payment is guaranteed and it took them 5 days to notice the error, could anyone explain the technical side of how this happened?

I've had problems with Lloyds TSB for a while and I'm thinking of moving away from them, mainly because it makes me concerned that instead of doubling crediting my accounts they may instead mess up a £2,000 transfer and I will be stuck fighting them to get the money back.

Thanks,

I use faster payments all the time and have never experienced any problems. From experience if the customer starts bad mouthing their bank the problem is normally caused by the customer in the first place.

I cannot rate Lloyds high enough.

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agrinnall wrote: »

While there was then a confusing position for several days the fact that it was shown as a failure in the first place should be a warning that something might have gone wrong.

In the normal case where you can't see the destination account, there's no confusing position at all. You've been told that the payment failed, so you believe that no money has gone anywhere and no money is going anywhere. You try again or make other arrangements. Wait-and-see isn't an option.

The trouble starts when they un-fail the failed transaction.

Plxply

Rupert_Bear wrote: »

I use faster payments all the time and have never experienced any problems. From experience if the customer starts bad mouthing their bank the problem is normally caused by the customer in the first place.

I cannot rate Lloyds high enough.

I can assure you I'm competent enough to handle a bank transfer, the fact is something went wrong with Lloyds, I'm not bad mouthing them, there is nothing I could have done wrong as all I needed to do was entered the sort code, account number and amount. All of which was entered correctly as seen by the money arriving in my HSBC account.

I find HSBC extremely reliable I've been with them for a while now and I haven't had a single problem however some people report numerous problems, it's dependant on how you use your account and part luck. Every bank fails in some area it seems to be with Lloyds their internet banking isn't very reliable which is a problem for me as it's what I use the most.