Faster Payment - not so fast, 4 months later and still hasn't got there!

debsy42

Back in December I made a faster payment to a Capital One Credit Card. I've made numerous payments both before and after to the same credit card and all have got there apart from this one in December.

Nothing has changed with regard to the payment details at all from my end, it's the same card number, sort code, account number etc. The payment hasn't come back to my account so I know it has definately gone.

Trying to find out where this money is has proved virtually impossible. I strongly suspect it's sat in a suspense account at Capital One but they are proving so difficult to deal with. The last episode was they were requesting my bank do a "BAC trace" on the payment, my bank responded by saying that the money wasn't sent by BACS so they can't do that, Capital One then replied that they had given us the wrong information and it should actually be a "bank trace". :mad:

My bank have already provided details of where the payment went to (and this has been faxed to Capital One) and even the date it was credited but still Capital One are saying it's not enough information for them to trace it.

Has anyone else had experience of a missing faster payment or can advise where the responsibility lies, is it my bank or Capital One? In this day and age of technology I would have thought it would be so simple to resolve but this is just getting me so fed up.:(

Mikeyorks

debsy42 wrote: »

Has anyone else had experience of a missing faster payment or can advise where the responsibility lies, is it my bank or Capital One?

It's your Bank. But if they've done that and the result is that it was sent to Capital One - then the onus shifts to them to find it. If you check they were the target - then turn it into a formal complaint - in writing. And refer it to the FOS if they continue to prevaricate.