Out of date bank draft

anothergirl

Ahhhh I just posted this twice but it doesnt seem to be working. I hope this is in the right area anyway.

So I got issued a bank draft for £500 in 2002 after HSBC shut my account. This was issued by a Sheffield branch of the bank. I lost the draft and never cashed it and have just located it in my house. I have called HSBC and they said that after a 2 year period, any drafts that hadn't been claimed the money was just simply written off and there was no way of getting it back. This is money that was in my account and so is rightfully mine, from salary being paid in. Obviously I appreciate this is my fault for not banking it and losing it at the time, but I would like to know if I have any right to this money? The bank draft account would have been over and I can't imagine they did anyhthing with this money. Can anyone offer any help or advice?

alanq

Why didn't you ask the bank to cancel and reissue the draft when you first realised that you had lost it?

I don't think banks are obliged to keep records for more than about 6 years after an account is closed so they are not going to pay up to someone who claims that they are owed money after 11 years.

anothergirl

To be fair, with the benefit of hindsight, I wish that is what I had done, but I had always kind of assumed I would find it and then forgot about it and then when I did find it, 11 years had happened!

jonesMUFCforever

Send the draft by recorded delivery to the bank's Customer service centre.
( A branch will only do the same thing but you won't have the proof of postage).
Ask them to investigate whether the draft was ever reported lost or could you get a replacement?

They might do it for you as a gesture of goodwill.

Bear in mind if you get stroppy then they can easily say to you legally the debt to you is statute barred.

JuicyJesus

Is it a banker's draft or a cheque? Cheques issued by banks are not automatically drafts (which look quite different from normal cheques).

Drafts themselves never expire. Cheques do.

jonesMUFCforever

JuicyJesus wrote: »

Is it a banker's draft or a cheque? Cheques issued by banks are not automatically drafts (which look quite different from normal cheques).

Drafts themselves never expire. Cheques do.

These days there is no difference.
All cheques are issued on branches rather than on Head Office.

JuicyJesus

jonesMUFCforever wrote: »

These days there is no difference.

Speak for whichever bank you work for

mgdavid

jonesMUFCforever wrote: »

These days there is no difference..........

but the OP Is not talking about 'these days' - it was 11 years ago.

Goldiegirl

I seem to remember that bank drafts were 'as good as cash', and couldn't be stopped, so it was safe to accept them in payment for large sales, such as cars etc.

However, if someone tried to pay in a cheque or a draft that was 11 years old, I'm pretty sure that the bank cashier wouldn't accept it.

But, if it is a draft, and therefore as good as cash, then I suppose if theory it shouldn't have an expiry date.

It would be interesting to see what happened if it got past the bank cashier - would the bank it was drawn on 'bounce it'?

But I wouldn't feel comfortable in suggesting that the OP tries to pay it into her account - my suggestion would be to try writing to the main admin centre, returning the draft and asking for a replacement, together with, if possible, and supporting documents, such as a copy of the closing statement.

jonesMUFCforever

Which is what I suggested in post 4.

scotjock67

Sorry you dont have a chance the bank wont have record of the draft and what makes it worse for you is they also wont have a record that they didnt re-issue you. Best hope is to complain and if you are lucky they will throw money at you rather than go down the fos route but given the timescales I think you are wasting your time fos wont touch it. If you get lucky it will be someone who doesn't get it s timebarred!
Good luck