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Co-op (Smile) Made Error then Put in Adverse Credit Report About Me
coopbankscrewedmeover
Posts: 1 Newbie
Hi folks - and Martin!
I would like some advice on what to do. I have a SMILE (Co-op Bank) SAVINGS ACCOUNT:
* On 7 May 2013, I paid in a cheque for £10 000 - no problem there.
* On 9 May 2013, I saw a SECOND credit to my savings account of £10 000 which I have been expecting for sometime from people who owe me tons of money and whom I had been chasing for months, and had just spoken to a day or so before. Both credits simply showed as "CREDIT" as below and were on two different dates.
* On 9 May, I saw all the funds as CLEARED in my Savings account and then paid the funds of £20 000 that day out as a payment ONLINE VIA THE SMILE ACCOUNT ONLINE SYSTEM to meet outstanding bills contribution to mortgage elsewhere and am happily in the clear now with these things.
* Just today, I received a letter in the post saying that the second credit of £10K on 09/05/13 was a KEYING-IN ERROR by the bank at the branch where I had paid in the first cheque of £10K on 07/05/13, and they have now overdrawn my account by -£10K. They apologised in the letter for the error.
* I immediately phoned the Co-op/Smile Savings today and was told that the account has been referred to the "Collections Department" as an UNAUTHORISED OVERDRAFT and they are PUTTING A BLACK MARK on my otherwise clean and unblemished credit file. I was extremely upset that because of the bank's error they are blacklisting me to Credit Reference Agencies. The funds were transferred online from this Smile Savings account which obviously doesn't allow you to make transfers against uncleared funds.
* I demanded to speak to a Manager before any black mark goes out on my credit file, but was told that a Manager isn't available and they will call back withing 24-48 hours, which may be too late.
* What can I do to stop them from damaging my credit file because of an error by them? I told them that I was chasing the folk who owe me money anyway, and had only spoken to them a day or so before the second credit of £10K so I was pleased to have that apparent credit in. Here is what recent transactions on my account look like (have blanked out reference numbers):
10/05/2013 ADJUSTMENT. £10000.00 [this is debit]
09/05/2013 CREDIT £10000.00
09/05/2013 TFR ************** £20000.00 [this is a debit]
08/05/2013 TFR ************** £100.00 [this is a debit]
07/05/2013 CREDIT £10000.00
This seems completely unfair to damage my credit file because of a blunder which they have admitted.
I would like some advice on what to do. I have a SMILE (Co-op Bank) SAVINGS ACCOUNT:
* On 7 May 2013, I paid in a cheque for £10 000 - no problem there.
* On 9 May 2013, I saw a SECOND credit to my savings account of £10 000 which I have been expecting for sometime from people who owe me tons of money and whom I had been chasing for months, and had just spoken to a day or so before. Both credits simply showed as "CREDIT" as below and were on two different dates.
* On 9 May, I saw all the funds as CLEARED in my Savings account and then paid the funds of £20 000 that day out as a payment ONLINE VIA THE SMILE ACCOUNT ONLINE SYSTEM to meet outstanding bills contribution to mortgage elsewhere and am happily in the clear now with these things.
* Just today, I received a letter in the post saying that the second credit of £10K on 09/05/13 was a KEYING-IN ERROR by the bank at the branch where I had paid in the first cheque of £10K on 07/05/13, and they have now overdrawn my account by -£10K. They apologised in the letter for the error.
* I immediately phoned the Co-op/Smile Savings today and was told that the account has been referred to the "Collections Department" as an UNAUTHORISED OVERDRAFT and they are PUTTING A BLACK MARK on my otherwise clean and unblemished credit file. I was extremely upset that because of the bank's error they are blacklisting me to Credit Reference Agencies. The funds were transferred online from this Smile Savings account which obviously doesn't allow you to make transfers against uncleared funds.
* I demanded to speak to a Manager before any black mark goes out on my credit file, but was told that a Manager isn't available and they will call back withing 24-48 hours, which may be too late.
* What can I do to stop them from damaging my credit file because of an error by them? I told them that I was chasing the folk who owe me money anyway, and had only spoken to them a day or so before the second credit of £10K so I was pleased to have that apparent credit in. Here is what recent transactions on my account look like (have blanked out reference numbers):
10/05/2013 ADJUSTMENT. £10000.00 [this is debit]
09/05/2013 CREDIT £10000.00
09/05/2013 TFR ************** £20000.00 [this is a debit]
08/05/2013 TFR ************** £100.00 [this is a debit]
07/05/2013 CREDIT £10000.00
This seems completely unfair to damage my credit file because of a blunder which they have admitted.
0
Comments
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coopbankscrewedmeover wrote: »What can I do to stop them from damaging my credit file because of an error by them?
Make a complaint in writing: http://www.smile.co.uk/global/talk-to-us#complaints-3.
If you're still not happy after going through their complaints procedure you can take your case to the Financial Ombudsman.0 -
One more reason why FPs are a very unsatisfactory payment system.
When they drop money into your account the least they could do is display where it comes from.
Formal complaint time I think. They can't treat you like this."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
You should always wait a good 10 working days before drawing against a cheque to ensure it has cleared as I've paid in cheques before and they appear before they are cleared.
I do agree with you it should maybe show as pending until they are cleared.Interests: PCs. servers, networks, mobiles and music (esp. trance)0 -
The_pc_tech wrote: »You should always wait a good 10 working days before drawing against a cheque to ensure it has cleared
No need to wait that long - with the 2-4-6 rules after 6 working days you're safe.0 -
On 9 May 2013, I saw a SECOND credit to my savings account of £10 000 which I have been expecting for sometime from people who owe me tons of money and whom I had been chasing for months, and had just spoken to a day or so before. Both credits simply showed as "CREDIT" as below and were on two different dates.
Seems very convenient that exactly £10k arrives from an assumed source. Then is immediately withdrawn.
If I were the bank I would be very suspicious that this statement was factually correct. Not a made up story.0
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