Nationwide - Lost my $1000NZD deposited chq!!!

grumbler

kiwichick wrote: »

I'm still waiting to hear from them about accepting fees for a direct transfer.

For some information on incoming transfers from Europe see this thread: Interwetten deposits and withdrawals: your experience

My understanding is that NW don't charge, but intermediary bank(s) may charge, that depends on how the transfer is routed.

Agricolae

kiwichick wrote: »

Thanks Guys,

Just to clarify, Mum sent me the chq from NZ. I banked it with Nationwide, they told me there would be a £6 charge to deposit it. This fee can be higher as with very high value cheques (which mine was not according to them) it can need to be sent back to NZ bank for verification). This was not needed in my case. My cheque has not had to leave the country, it was simply forwarded to Nationwides processing unit (so I was told yessterday). They have not got any record of having received it, the only record anywhere that it even existed in the UK is my photo and hand written receipt. I dont see how them loosing my cheque within their interbranch secure mail system (terminology used by counter staff yesterday) is outside their control as it is their system.

The £40 fee is standard for a direct money transfer from her account in NZ to mine here in UK as there are fees both ends. This has been confirmed to me by Nationwide.

I'm still waiting to hear from them about accepting fees for a direct transfer.

Al.

It sounds strange that they would process foreign cheques this way, at the same place they process UK cheques. From what you're saying it sounds like Nationwide were intending to negotiate the cheque with the other bank. In any case it does sound like the cheque has been lost, which unfortunately can happen in internal mail. If Nationwide are helpful you may get them to cover the costs of sending the money electronically for you.

rb10

kiwichick wrote: »

I'm still waiting to hear from them about accepting fees for a direct transfer.

Fees are zero.

See http://www.nationwide.co.uk/pdf/btp/P1078_OverseasPayments.pdf

In my experience Nationwide use a decent exchange rate as well for receiving payments from abroad.

grumbler

rb10 wrote: »

Fees are zero.

See http://www.nationwide.co.uk/pdf/btp/P1078_OverseasPayments.pdf

If you check the thread quoted above you will see that it isn't always the case. At least it wasn't a few years ago:

Originally Posted by boristbear
Nationwide
Bank code: ###### (sort code)
IBAN: GB70NAIA######********
BIC/SWIFT: NAIAGB21
£500, £12 charge.

Originally Posted by Riq
Nationwide
IBAN: GB59NAIA............
SWIFT Code: MIDLGB22
£330, £400, £825
£12 charge everytime.

jonesMUFCforever

OP as I have said complain.

However if you want the money 2 things need to happen.
1 You need to get a new cheque from you mother.
or 2 as above post you need to give your mother the details of your Nationwide account for her to send the money electronically.

dalesrider

opinions4u wrote: »

Foreign cheques are a pain in the backside, take ages to get through the system, screw you on exchange rates and tend to have fees applied by the drawing bank or their agent that aren't disclosed up front (because it's not Nationwide's responsibility to know them).

Nationwide's web site explains this (and where 5 days comes from).

Negotiation usually takes 5 working days and we credit your account prior to receiving confirmation that the cheque has been paid.

I notice a nice word in there..... USUALLY......

Not a helpful word at all.

We had a overseas cheque which we were waiting for clearance on and it took 6 months.
Which included much interbank chasing as clearance was required before we knew if we had to dispute a item for a customer or not. :mad:

jonesMUFCforever

........We are of course assuming that the cheque was negotiated here and not sent for Collection.
That could easily take a month or more - however if Nationwide have no record of receiving it at their International department we have to assume it is lost.