BACS payment sent but it didn't arrive.

Heinz

I used online banking to set up a BACS payment from my Santander current account to my granddaughter's Lloyds TSB current account - but it didn't arrive.

I know the sort code and account number were correct because they were saved after I'd used them before (and I had checked them again before setting up the BACS).

Who's responsibility is it to track down my money - Santander or Lloyds TSB?

Santander say (ridiculously, in my view) that data protection prevents Lloyds speaking to them so it's down to the intended recipient to ask her bank to initiate tracing.

Poolie

How long ago did you send the payment.

BACS can take up to 3 working days to appears. If you believe it was sent Fast BACS then it could have defaulted to normal BACS.

I would check with Santander to confirm the payment was actually sent to the Lloyds account. If this is the case, I would ask your granddaughter to confirm with Lloyds if the money was received based on the date and time it was sent.

Debt_Robot

Heinz wrote: »

I used online banking to set up a BACS payment from my Santander current account to my granddaughter's Lloyds TSB current account - but it didn't arrive.

I know the sort code and account number were correct because they were saved after I'd used them before (and I had checked them again before setting up the BACS).

Who's responsibility is it to track down my money - Santander or Lloyds TSB?

Santander say (ridiculously, in my view) that data protection prevents Lloyds speaking to them so it's down to the intended recipient to ask her bank to initiate tracing.

When was the payment sent? We need to know the amount of days that have passed.

Has she called Lloyds?

Heinz

25th August.

agrinnall

Well that's more than enough time for it to have arrived, and come back if Lloyds had rejected it. One possible complication is that there was a bank holiday within the BACS transfer period, some banks have to put in manual overrides to their processing for bank holidays which could have caused a problem.

What do Santander say happened, do their records show that it went by Faster Payments or by BACS? They should be able to confirm the sortcode and account number that were on the payment when it left them.

If it was any other bank I'd say the problem was most likely to be at Lloyds, and it still might be, but as it's Santander there has to be some suspicion that they have messed up.

stclair

You need to ask the sending bank to do a BACS trace on the payment.

pmduk

You'll probably have to instruct Santander how to trace a BACS payment.

ankydei

I am also facing a similar problem, where I transferred a good amount of money from natwest branch to my account in Punjab National Bank(PNB) across the street. I was told that this has been done using faster Payments, and payment would hit PNB just n real time, since it didnt hit at the same time, I thought of giving it a days time atleast. since it didnt arrived next as well, I panicked and googled al the things, and was astonished to find that PNB cannot receieve Faster payments.

I had been to Natwest many a times, but they said that they have actually credited the amount to PNB and my account debited henceforth.
Whereas PNB people say they have not received any payment, and it would come in 3 working daysm the normal BACS cycle. After 3 workding days passed , PNB has issued me a letter in writing that they have not recieved any funds fro Natwest to my account.

I have checked the sort code and a/c number, they are correct and I do not understand where to go, as Natwest are saying that they are now investigating, after I have presented the letter from PNB.

I need the money elsewhere but urgently, Please advise what should be my course of action.

I made the payment on 31/10/2011, nit received til the posted timstamp of this message.