Balance Transfer Mistake

loopydonna

I recently opened a Nat West credit card to take advantage of their 0% BT offer.

I sent payments to my Egg and Capital One cards. I noticed on my statements that Egg had their money, but Capital One hadn't.

I called Nat West who said I'd made an error typing in the Capital One card number on my internet application. I've typed the last two digits of the card number the wrong way round

Nat West have said they cannot recall the payment, so I need to speak to Capital One.

I've called Capital One who said they cannot do anything. I have to wait until the customer with that account number disputes the payment made to their account.

Is this right?

I cannot afford to lose a 4 figure sum of money if the recepient doesn't own up and dispute the cash, and it's messed my budget up as I've got 2 lots of interest and 2 minimum repayments to meet this month

Dipity

Surely they have to match up the account name with the account number, don't they?!

jamalfatty

Credit card companies cannot match up account numbers to names, the recipient card would not be allowed to disclose the name for DPA reasons.

Capital One are talking rubbish, chances are if you have swapped 2 digits around that it wont be a valid account number anyway so will either get rejected and sent back to Natwest, or will sit in a suspense account until someone calls to claim it.
Ring them back and ask to speak to the banking department, there is no way they cannot do anything about it.

loopydonna

Thanks. I've spoken to Capital One again. They are going to investigate, but it will take 4 weeks to trace the money. Meanwhile the balance is still owing on my card.

Expensive mistake to make

loopydonna

I got a letter back from Capital One. They cannot trace the money.

I'm a bit annoyed with the letter as it asks me to send proof of payment, but obviously I don't have proof of payment as it was a balance transfer. Clearly they never read my original letter which clearly stated this :mad:

Anyway Capital One say it's up to Nat West to sort it out as they haven't got the money.

Nat West say they did send the money and it hasn't come back, so they can't help me.

So what do I do now if neither party is willing to help further?

diamonds

ombudsman

http://www.financial-ombudsman.org.uk/

loopydonna

Just an update.

Nat West say Capital One still have the money and they have now sent 3 faxes explaining where they sent the money to. The faxes were sent to a number given to me by Capital One

Capital One say they never got the money and haven't got any of the faxes either.

I think I will have to get the Ombudsman involved now.