Fraudulent Transaction. NatWest say "phone on Monday"

dalesrider

magpiecottage wrote: »

It is not correct to say a bank must make an immediate refund. The FSA rule says, "Where a payment from a banking customer's account was not authorised by the banking customer, a firm must, within a reasonable period, refund the amount of the unauthorised payment to the banking customer and, where applicable, restore the banking customer's account to the state it would have been in had the unauthorised payment not taken place." (BCOBS5.1.11R(2))..

Well lets just say that our legal teams advice on PSD (payment serviced directive) is refund customer at the end of the call. Or if not refunding its added to a database and signed off by a manager as to why we are not.
And as I said refund and charges, Offset interest, interest etc.


As well as whoever taking the 1st call from the customer login a unrecognised transaction. Failure of this is a 5K fine if caught.

As far as FSA/FOS & PSD.
Its better to refund and argue afterwards, than argue 1st and end up with a fine.

artbaron

TiddlyPom wrote: »

I saw a transaction on my online banking statement today for some £62 odd that I had not made, dated 4th February with the funds already gone.
I telephoned and tried to report this as a fraudulent transaction that I had not authorised and was told this was a POS transaction, they do not yet have details of the merchant and it was made with an old card that expired some time ago and had been cancelled. Despite this, they say they can do nothing until Monday when their system MAY have more details of the merchant and I can then contact the fraud team and they will make a decision whether to give me my money back!

A similar thing happened to me with an ebay charge that wasn't mine (I have a thread somewhere but haven't updated it). They told me to wait and phone the next day. I declined and insisted on registering a fraud case at the time. Only £45 but that's not the point, obviously.

I thought they wouldn't investigate it but lo and behold after a few weeks I received a printout of the transaction that caused the debit, along with the details of the purchase and the ebay username of the scum involved. This showed that the charge had been listing fees due to the the scum selling a BMW on ebay and fraudulently using my card. I confirmed that the transaction was fraudulent and hopefully the scum has now had a visit from the police. I didn't think they'd do anything for £45 but I was happy to be proved wrong.

I'll update my own thread with this info now, actually.

innovate

What bank is that, dalesrider?

dalesrider

innovate wrote: »

What bank is that, dalesrider?

As before I am not prepared to say who I work for.

These sites are monitored by media staff and as such I would need permission to post.
As you then become a voice of the employer.

Dangerous ground

stclair

innovate wrote: »

I have only quoted what the FSA website says.

And I did post the 2 conditions before. Neither of which were mentioned to the OP by Natwest as a reason for the delay in the immediate refund.

Surely people should be able to believe what they read on the FSA's website, and not have to delve into BCOBS5.1.11R(2) whatever that may be?

Source: http://www.fsa.gov.uk/pages/consumerinformation/product_news/banking/know_your_rights/solving/index.shtml

I think it was the FSA who said it:

http://www.fsa.gov.uk/pubs/hb-releases/rel113/rel113_bcobs.pdf

The information must have been updated or reviewed since then though.

pmduk

dalesrider wrote: »

Well lets just say that our legal teams advice on PSD (payment serviced directive) is refund customer at the end of the call. Or if not refunding its added to a database and signed off by a manager as to why we are not.
And as I said refund and charges, Offset interest, interest etc.


As well as whoever taking the 1st call from the customer login a unrecognised transaction. Failure of this is a 5K fine if caught.

As far as FSA/FOS & PSD.
Its better to refund and argue afterwards, than argue 1st and end up with a fine.

As ever that is the advice from your legal team. Remember, 2 lawyers can look at the same legislation and have 4 different opinions, depending on who's paying them!

That's a maximum fine of £5000, It's pretty certain it's rarely if ever levied.

sharkeybabe

Well all I can say TiddlyPom is good luck. You are going to need it.

I had fraud happen on my savings account with natwest on 25th jan for the total of 252 pounds all done in small transactions. Totally cleared my account and it was my benefit money etc that had been taken. I called the fraud team at 8am and went through all the details to set up a claim and was told that as the transactions had not fully debited from my account I couldnt get a refund until the following tuesday. I was left with nothing at all. The bank were not interested in the slightest.
COme the tuesday I called to find out when I would be refunded as the transactions had cleared I was told 6pm that day. 6pm came and left and I still hadnt been refunded. I called again and was told it would be 10am the following morning. On the wednesday at 10am it still hadnt been refunded. After arguing back and forth I eventually found out that the fraud case that I had thought I had set up on the friday hadnt been done correctly and they would have to start the process all over again. Not once was I offered an apology infact all I have had throughout this nightmare has been rude customer service agents who dont have a clue what is going on half the time.
I was then told that I would have to wait a further 5 working days for them to look into it before they could actually refund me.

Any time I have asked to speak to the complaints department I have been refused until I eventually got a hold of the customer care department who took details of a complaint and have said they have up to 8 weeks to make first contact with me.

I am still waiting on a refund and still waiting for a member of the customer care team to contact me. Once this is all sorted out I will be changing my accounts as will my husband as we have been left so dissatisfied with natwest.

Good luck again OP. I hope you find things a lot easier.

TiddlyPom

sharkeybabe That sounds like an absolute nightmare! I would certainly do everything you can to get your complaint escalated - that is just not on at all. I hope maybe some of the info given be the kind people here onthis thread may be of help to you.

Just a quick update - still no merchant info showing. On hold to fraud team now and will come back and update when I can.

TiddlyPom

OK - Outcome. It would appear that the transaction is for AA Membership. I have current AA membership free with my car insurance provider which is current. There are two scenarios - first is that someone has used my card fraudulently and purchased this or the 2nd is that the AA have obtained my expired card details from my previous insurer and taken it upon themselves to make this transaction. I have received no correspondence regarding this and moved to this property 18 months ago and still have active PO redirection of mail so the first scenario appears most likely although the jury is out.

Better news is that they will be refunding my money and it will clear back into my account by 6pm today.

I am still less than impressed by the way that NatWest have dealt with this, so could now do with your opinion about whether to make a complaint or not considering it did put me in financial hardship. I still don't have a reference number for the case and was told just ring and quote account number and the details will all be there.

TiddlyPom

P.S. Even with the free AA cover, I have always followed up receipt of a joining pack with a letter cancelling any recurring authority they may think is in place as I think recurring authority is iniquitous.