Commercial Banking Compensation for Bank Cashier Negligence

theskunk100

grumbler wrote: »

Firstly, how can the fraudster see what is going on with your account?
Secondly, how can the fraudster withdraw money from your account?

I don't understand why the fraudster even needs to deposit fake cheques for this.

If this really happens on a regular basis and isn't your fault, then it's really worth demanding a higher compensation and then voting with your feet.

They cant see what is going on but if they pay in funds then there is a chance that they get the confidence of the teller, they create confusion for us trying to reconcile the account, by showing a very temporary inflated balance, whilst the steal away the funds via whatever means.

theskunk100

meer53 wrote: »

Don't believe this at all. With the anti money laundering regulations currently in place, this wouldn't happen as the OP says it did. It would be helpful if you told us the full story. Saying "maybe" £2000 was taken is a very strange comment to make. Insider knowledge or confidence trick ? What is meant by that comment ?

It happens just as I say, and on a regular basis. I have posted the incident from earlier this year.

Insider knowledge meaning that the teller was working with the individual withdrawing the funds

Confidence trick meaning, paying in a lot of cheques and at the end of a charming conversation and exchange with cashier saying, "oh and whilst I am here I just remembered I need to take some cash". The bank have admitted the correct ID was not requested by the cashier.

theskunk100

agrinnall wrote: »

You say that the receiving bank does not know that the cheques are stolen at the time of deposit. This is true, but irrelevant. The fact is that the cheques have to go through the clearing process before funds are available for withdrawal, and because they will be marked as stolen during clearing those funds will never be cleared in your account, so should not be withdrawn. If what you say is happening really is then there is a significant failure in your bank's procedures, but I have my doubts about your story.

I agree that I would not expect to be able to withdraw funds from an uncleared cheque. So why do they do it?

antrobus

OK, I think I understand this.

Some ne'er do well gets hold of the bank details for the Small Trading Company Ltd, and establishes that its managing director and main shareholder is one John Smith. Our rogue then goes into a bank branch with a whole wad of duff cheques, and pays them into this account, whilst holding himself out to be John Smith. So when he then turns to the cashier and requests a £1,000 cash withdrawal, the cashier readily complies, believing that the person standing in front of them must be John Smith, because they've just paid a bunch of cheques into the account.

My view is that, if that did happen, then the Small Trading Company Ltd would dispute that cash withdrawal on the grounds that it was not authorised, and expect that the bank suffer the loss.

P.S. The Financial Ombudsman will deal with complaints from small businesses; i.e. one that has an annual turnover of less than two million euros and fewer than ten employees.

grumbler

theskunk100 wrote: »

....

MY relationship manager had this to say

Canyou please call the fraud team on 08453003983 and they will help.

Tell your relationship manager to do his job and to investigate in the first place why and how in his branch a stranger can regularly withdraw money from your account.

If he can't do this himself suggest he calls the fraud team on 08453003983 and they will help him.

chambta

NatWest then, and branches in the Norfolk area.

eddddy

Hi theskunk100

So it sounds like your saying all the money has been returned to you, but you want to know how much compensation to claim from the bank because of the effect on your health etc... :

theskunk100 wrote: »

Obviously this is annoying, stressfull and negligent. It effects my health and my ability to operate my business.

The bank have offered be a routine £250 compensation. I want to ask anyone with an opinion on this what I could expect to be reasonable compensation. Should I accept the £250? I pay a fortune in bank charges over multiple accounts.. I can't even look at the bank without them dipping their hand in my pocket.

Was it just a case of writing a few emails/letters and making a few phone calls? If so, £250 seems very reasonable.

But if you suffered any consequential losses, you should claim for those.

To see what the Financial Ombudsman awards for distress and inconvenience, follow this link and scroll down: http://www.financial-ombudsman.org.uk/publications/technical_notes/distress-and-inconvenience.htm