Banks

soolin

tjdj wrote:

i Soolin did you know from an ebay point that if somone pays by cheque and it clears after 5 to 7 days but the person who sends a cheque can still cancel it upto 27 days later the the bank reclaims the money from you.
TJ

On the ebay forum my dislike of cheques is very well known and there is a lot of mis information about them. Cheques usually clear for funds after about 4 working days and usually people suggest that is when they are safe, but as you say at that point they are still not clear against fraud.

I'm not sure where you got your 27 day information from though and would love to see a link somewhere that I could save for nxt time someone tells me how safe cheques are! My reading of the various acts and banking regulations suggest that a cheque is risky through normal clearing for about 9 days in total and during that time the cheque can be recalled for minor problems. However, once it is accepted by the issuing bank and cleared overnight it cannot be recalled unless there is either a problem with the cheque or fraud is claimed, and if this is the case then there is no time limit.

I have had a cheque reversed from my account after 5 weeks as buyer got a copy of it and showed words and figures did not match (he repaid me later though). I've also had one recalled on day 9 due to problems with an account being switched from joint to single name (or vice versa, can't remember) so the bank held it then decided not to pay.

http://news.bbc.co.uk/1/hi/business/6144756.stm

Currently, cheques can be rejected by a bank at any time if fraud comes to light later - possibly many weeks or months later - even if the person paying in the cheque has acted honestly, withdrawn the money and then spent it.

As I said earlier if you have 'evidence' of the 27 day rule, which I've never come across before, I'd be interested to see it.

Going back to the topic in hand, this is why as an ebay seller bank transfers are better than cheques. I have a level of security with bank transfers than can never get with cheques.

If I were you I would be seriously upset though by the false information given to you by Barclays bank. I'm not surpised they gave you wrong information as most staff don't understand the system when things deviate from the norm.

Soo

Debt_Free_Chick

tjdj wrote:

.
i have online banking with barclays bank which my wife went to transfer £200
pounds from her acc to mine she put it to my E saving or thought it had,it had come up with the same sort code as our bank,so it meant it went to someone else's acc who we dont know.

Can you confirm exactly what she did please?

Did she enter the account number herself?

Or did she select an account from the drop down box. The drop down box offers you the option to select from a list of accounts, to which you've previously made a transfer. It sounds like she did this, as you say "it came up with the same sort code as our bank". If so, then you have transferred money to this person before and it's likely that you know who they are.

Go back on to Barclays e-banking and try to repeat the process. Look carefully at the list of accounts that appears in the drop down box as you may recognise the person that the account belongs to. Just be careful not to "confirm" this transfer otherwise you'll repeat the error!

tjdj

Debt_Free_Chick
the account number was the same as mine what she was trying to do was send the money to my account then the drop down menu gives 2 sort codes
one of which is the account the money supposed to go to the other from where the money comes from but she put the sort code of where it comes from so it's like going back to the same bank but with my account number if you know what i mean.
Soo the 27 day thing was what Barclays told me when i had a cheque maybe thats wrong info as well what they gave me,but arnt we supposed to trust banks i think its time to find another bank for me like under the bed.
TJ

soolin

tjdj, this isn't an issue with whether banks are trustworthy or not, it is how well they respond when there is a problem. Issue one is what they should do to help you, and since this is entirely an issue with the way your wife sent the money I honestly can't see what they can do. If banks could pull back bank transfers at will against their own regulations then we would all be quick to moan that their systems are lax if they can be over ridden by a member of staff. That to me would be a serious fraud concern.

The second issue is whether they have given you false information, and this is where I think you have a valid argument with them. If you were told by a member of staff that your money could be recalled, then assuming it was on the telephone (and I'm sorry I can't remember the whole series of event now) then complain as a tape of that phone conversation should be available. They can't reverse the payment, but I'm sure they can be persuaded that since they obviously give out such misleading information you are entitled to some sort of goodwill payment..it is a long shot but surely worth a try.

eyelinerprincess

Soo...

You the same soo on the Community Q&A?

shellsuit

eyelinerprincess wrote:

Soo...

You the same soo on the Community Q&A?

Sooperb?

Nice lass she is

soolin

eyelinerprincess wrote:

Soo...

You the same soo on the Community Q&A?

Nope, this is the only place I use the pseud Soo :eek:

Kilty_2

It surprises me that they allowed you to see the balance of the account where your money has ended up, surely that's a violation of the Data Protection Act

Was it a case of mistyping the account number or did an error in the system cause the transfer to go wrong?

If it was the former I'm afraid you have nowhere to turn, the bank make this clear when you are initiating a transfer. If there's been an error in the system then the bank are liable to return the money to you under their online banking guarantee.

Broke_Student

I did not think Barclays would issue two customers with the same account number for different branches/sort codes, regardless of the type of account (online/high street). Have a moan at them about this...

As for seeing another persons balance, I completely agree with OPs story about 'seeing the screen'. It is very easy to see someone elses balance (within the same bank) if you are in the right situation. For example:
My bank was once supposed to give my mum a credit for referring a customer. It didn't show on the statement so she went to enquire in branch. They took us into a side room and looked up her history etc on the computer. They traced the commision credit but they had put it into the wrong account themselves. I could just see the bankers screen as he was looking at the 'wrong account' and could read off the balance (but I had NO idea who it was). He also briefly opened up the 'new' account of the person my mum had reffered (he needed to do that to trace the commision linked to that acount or whatever...). I also read off that persons balance (someone we DO know!).

soolin

When a transfer is made there is never a need to see the receiving screen, it just doesn't happen. The payment is 'sent' and that is the end of it.

So either the OP saw a screen that showed bank information on his own account, ie the £37,000 might be the total loan figure they could be sold (the last bank I worked for had the loan available on most screens to try and get staff to sell loans) or barclays have a major system hack. If it is the latter then someone should be going to the ombudsman and making a formal complaint.

There is never a need to see any screen connected with the receiving of a direct payment.

Soo