Fraudulent Bank Transfer removed from my account (2)

Thrugelmir

So where's the money gone that you received? Sounds as it's been moved out of your accounts very quickly i.e. almost as quickly as they were received. Not to pay the supplier either.

JABA

I am sole trader.
I was told by bank when I requested information about the transaction, that to be able to remove the funds from my account they would need debit authority from me.

The case seems to be that someone has had their account hacked, either trough faulty bank security system or owner of this bank account. So this was classified as fraudulent funds.

This has occurred trough no fault of mine, and I have received the funds for 3 products that I delivered. In my opinion the bank who originally allowed the clearing to occur, should be responsible for their customers loss. They are insured for this. This bank is the bank that had a fault in their security system, to allow this to go undetected.

Funds have been transferred to me, to purchase 3 product items advertised on my website.
I was assured in writing by my bank, that the case was closed, and the maximum loss I could expect was the £450 originally removed, however there was a good chance the bank would compensate me of this.

However after this confirmation, these £450 was returned to my account, and was a part of the £1250 that was later removed.

When I saw what was going on, I had no other option then to secure the funds, by withdrawing them, as I need the funds to pay MY SUPPLIERS for the goods.

Not sure what you are implying "Thrugelmir"

As I have written confirmation from bank manager that the funds would be safe, I rather fight the bank with the funds with me, then having to try to chase to get back the £10.000 from the bank.

After every assurance, I requested this to be confirmed in writing.
The irony of this is that my profit margin of this £10.000 was less then 10%. However that is irrelevant in this case. Loosing these funds to the bank would be devastating for me personally, because I will still need to pay my suppliers, regardless what the bank would decide to do.

I am less concerned about my profit margin in this case, for me it is important I get back the money that belongs to my suppliers.

pmduk

Have you actually started the bank's formal complaint process yet?

JABA

Yes, my business manager started this for me. This is how I got returned the original £450 they took from me.
But this was returned and then removed again together with additional funds that was in my other private accounts.

JABA

Resolved!



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pmduk

If you give more details it may prove to be useful for other people who may find themselves in this position.