Absolutely furious and upset

avfc4life

tom188 wrote: »

There are equal numbers of indignant people who would complain if the bank had taken it away without asking. I am unsure of the situation with credit cards, but currently if a payment is made mistakenly into someones bank account the bank has to ask for it back.

I know what you are saying but i think those people dont have a leg to stand on. If the money isnt yours you have no right to keep it and have no complaints if it is returned to its rightful owner

R0CKY

the hastle of reclaiming the money aside, I'm just really REALLY surprised there was not a double check in place to prevent a very easy mistake to go through unchecked.

loopydonna

Nat West said they just transfer the money to Capital One with only the card number as a reference as to who it belongs to.

It would make sense to send a surname as well to double check that it is going to the right person.

Jess1983

loopydonna wrote: »

Nat West said they just transfer the money to Capital One with only the card number as a reference as to who it belongs to.

It would make sense to send a surname as well to double check that it is going to the right person.

Credit card companies can't see who the card belongs to, they can only see what TYPE of card it is.
As long as a valid cardnumber is entered, there really is no other way except maybe asking for the number to be entered twice.

As for getting your money back..

The bank who made the balance transfer (IE Natwest in this case) HAS to recall the money. It should only take 10 working days max ( I think that's what the FSA guidelines state anyway).
Any longer than that and you can ask to have any interest refunded, which would be well witin your right to do


Hope that helps

Jess

YorkshireBoy

Some information (on direct credit problems) on the APACS website's automated payments FAQ page...

http://www.apacs.org.uk/resources_publications/faqs_1.html

Look for "Can I stop a direct credit? How can I cancel a direct credit?"

Lovin_It

Technically you paid Capital One, who on receiving the money chose to reduce the balance of the second cardholder's account (even if you did make a mistake with the reference). It's therefore Capital One's problem to fix - quite simple from their perspective I would imagine - it's all internal to their computer system. It's not like you did a bank transfer to a random person by getting a bank account number wrong, which would be less clear-cut.

Good luck, they sound like a holes.

inmypocketnottheirs

If both banks are refusing to help, then ask them for the name and address of the person that has had the credit to their account. Then write and ask for your money back within 7 days. If not received commence court proceedings.

MABLE

inmypocketnottheirs wrote: »

If both banks are refusing to help, then ask them for the name and address of the person that has had the credit to their account. Then write and ask for your money back within 7 days. If not received commence court proceedings.

So you are expecting the bank to give to a third party the name and address of one of their customers. I don't think so!

inmypocketnottheirs

MABLE wrote: »

So you are expecting the bank to give to a third party the name and address of one of their customers. I don't so!
!

On the basis that they are not refunding the money and has been stated that it is up to the person who has received the money to return it, I do not see what alternative the OP has. If it were me, I would be demanding the name with some menace I can tell you. I would guarantee then, something would be done.

[Deleted User]

As I read this Capital One are not at fault.

Nat West have acted upon your instructions albeit the instruction contained an error. However I suspect there is some small print T&Cs somewhere which points out that the onus falls on the customer to ensure their instructions are correct.

I presume that Nat West have now debited this amount to your account. Therefore the money must be yours - even though it is sitting in the account of a person as yet unknown.

If a customer has money paid in error into their account the creditor can demand it back or take legal action.

This should equally apply in your case - except you are currently the creditor who is out of pocket.

You will not be able to take any action against the person unknown until you know who they are - therefore you could try reporting this as 'theft by finding' to the police. The police are obliged to investigate this and will prosecute the 3rd party if they refuse to return the money.

Meanwhile, I believe you stand liable for the debt and interest incurred until the money is recouped although I am happy to be corrected on this point.