MSE News: Nationwide fixes payments issue, but those affected should seek refunds

Former_MSE_Helen

Nationwide customers making purchases via faster payments have been left frustrated after a problem with its system...

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Nationwide fixes payments issue, but those affected should seek refunds




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dr_adidas01

Why should people seek compensation for this? IT systems fail from time to time.

The FP system states payments can take minutes or hours, but the rules of the system say that the payment must be completed by the end of the next working day.

People need to take responsibility for their own actions and make payments a few days before there due.

What is it with people these days claiming compensation for everything and complaining about the tiniest of things!!

Archi_Bald

UK law is that payments must be credited to the payee by the end of the business day following the day the payment instruction was made. Full details:
http://www.paymentscouncil.org.uk/files/payments_council/guidance_document_2011_v2.pdf

This means that payments initiated yesterday need to arrive with the payee by the end of today. Doesn't it seem a bit premature to call for compensation, particularly as all payments requested yesterday appear to have been made by the end of yesterday?

Hazzanet

Agree with the previous two posters - all of the payments appear to have arrived within the required timescales, so no compensation is due.

VT82

Agree with everything above.

The fact that the editorial slant is ignorant of the rules, or has deliberately chosen to ignore them, is shocking. And the immediate screaming of 'compensation' is completely pathetic.

agrinnall

Byline "Senior news reporter": well thank goodness it wasn't a junior reporter or we might have been treated to a heap of nonsense... oh, wait...

Herbalus

Have they edited the article since you all commented?

The word "compensation" isn't mentioned. As I read it, Nationwide has said that anybody left out of pocket etc should contact customer services, and that nobody will be left disadvantaged by the error.

If anything, Nationwide actually go beyond their statutory obligations to offer recompense for faster payment errors, as they were all delivered within the legal timeframe despite the error. That would have been a better slant for the article.

Hazzanet

Herbalus wrote: »

Have they edited the article since you all commented?

The word "compensation" isn't mentioned. As I read it, Nationwide has said that anybody left out of pocket etc should contact customer services, and that nobody will be left disadvantaged by the error.

It appears to have been edited.

Archi_Bald

Herbalus wrote: »

Have they edited the article since you all commented?

The article and thread titles still say: MSE News: Nationwide fixes payments issue, but those affected should seek refunds

Refunds for what, I wonder.

agrinnall

Herbalus wrote: »

Have they edited the article since you all commented?

The word "compensation" isn't mentioned. As I read it, Nationwide has said that anybody left out of pocket etc should contact customer services, and that nobody will be left disadvantaged by the error.

If anything, Nationwide actually go beyond their statutory obligations to offer recompense for faster payment errors, as they were all delivered within the legal timeframe despite the error. That would have been a better slant for the article.

Nationwide could shoot themselves in the foot by doing this. Not one person has been disadvantaged, because nobody has had a payment delayed longer than legally allowed; if anyone had relied on FPS getting a payment to its destination before the end of the next day then they could have been disappointed at any time. If Nationwide are now saying they promise to get payments to their destination in a shorter time then they've opened themselves up to massive future compensation claims.

ceredigion

Interestingly , I was doing my monthly sweeping up of interest payments yesterday evening and whereas normally the transfers would be instantaneous , they took a few hours to turn up. And there's not a nationwide account in there .