Faster Payment gone Missing?

simon_the_poet

Wonder if anyone else has had this trouble
I have recently attempted to transfer £200 from the Nationwide to the Tesco saving bank. Usually the transfer shows up immediately and when it didn’t I transfered another £5 just to check, this went through OK.
I rang Nationwide and they say it had gone an the fault must be with Tesco, I then rang Tesco’s and, you guessed it they say the fault lies with Nationwide.
The amount has definitely been debited to my Nationwide account and the transfer shows on their outcomes screen as complete.
After several more calls nationwide have agreed to put a trace on the payment but say this may take 7 to 1o days. Bloody inconvenient.
Simon

jonesMUFCforever

Might it not have gone by FP?
It could be that it has gone as a BACS transfer so if it debited your account today it might hit the other side by Wednesday next week (taking into account the bank holiday).

simon_the_poet

jonesMUFCforever wrote: »

Might it not have gone by FP?
It could be that it has gone as a BACS transfer so if it debited your account today it might hit the other side by Wednesday next week (taking into account the bank holiday).

HI Yes that was my thought initially, but the Nationwide confirmed that it went by FP, they have now given me a transaction ref. number which i have passed on to Tescos thy assure me they will find the money.

Simon

pqrdef

Did you use the new sort code?

If you use the old sort code, Tesco receive the payment in a holding account and will move it to your account manually.

simon_the_poet

Hi
Yes
We sorted all that out some time ago.
What happened was, I wanted to transfer about £800 into the Tesco account, i didn’t want to do it in one lot so I broke it up into lots of £100 and £200 and sent them in succession, checking after each that they had gone through. The one that failed was right in the middle of other transaction to the same destination.
When the £200 transfer failed I sent a £5 one through just to check and that went through OK so I sent the rest of the £100 ones and they also went through.
I just presumed that the larger amount had been sent via BACS but it seems not.
Siimon

agrinnall

simon_the_poet wrote: »

Hi

What happened was, I wanted to transfer about £800 into the Tesco account, i didn’t want to do it in one lot so I broke it up into lots of £100 and £200 and sent them in succession, checking after each that they had gone through. The one that failed was right in the middle of other transaction to the same destination.

Siimon

It's possible that Tesco's fraud checking software will have thought there was something odd about successive payments arriving from account A to be paid to account B and has flagged it up as suspicious - with the payments below £200 not being enough to trigger the check. If you'd sent the whole £800 in one go I'm sure it would have been fine, what made you decide to split it up?

simon_the_poet

agrinnall wrote: »

It's possible that Tesco's fraud checking software will have thought there was something odd about successive payments arriving from account A to be paid to account B and has flagged it up as suspicious - with the payments below £200 not being enough to trigger the check. If you'd sent the whole £800 in one go I'm sure it would have been fine, what made you decide to split it up?

Hi

Being recently dissabled i am not able to get out and manually swop the money over as i normally would. I have not used the facility before and i was anxious about the possibility of risking, what to me is a large sum, so i thought i would reduce the risk by sending it in smaller bits.
Yes i know. Seemed to make sense at the time.

Simon

simon_the_poet

Hi
Well it has been a week now. Both parties have promised to contact me, niether have. Rang Nationwide today and he tried to flog me a credit card, actually sounds like quite a good deal.

So the question is who would i sue. Hmm

Simon

opinions4u

So the question is who would i sue

Nobody.

You pursue it via the company that sent the payment.

You use their complaints procedure (asking for appropriate resolution, apology and compensation).

You escalate it to the FOS after 8 weeks.

No need to sue. It will get resolved a lot sooner.

simon_the_poet

Hi Again

Just for the record Nationwide said that there had been no trace initiated on the transaction, as they had previously promissed, which i thought was a bit naughty. Said he would start one today, 3 to 5 days this time.

Simon

simon_the_poet

opinions4u wrote: »

Nobody.

You pursue it via the company that sent the payment.

You use their complaints procedure (asking for appropriate resolution, apology and compensation).

You escalate it to the FOS after 8 weeks.

No need to sue. It will get resolved a lot sooner.

Hmm

This has not been my experiance in the past.
The FOS will not investigate for some weeks i believe and then they are usually extremely slow.
I find that a letter before action usually focuses the mind. Lets not forget they have £200 of my hard earned.

Still i will think on it

Simon