Money gone missing?

kelloggs36

I have a couple of accounts and made an on-line payment from one account to another (different bank - from HSBC to Nationwide). The money left my HSBC account immediately on 31 July but has not arrived at the Nationwide. I rang HSBC who say that they will put a trace on the money - Nationwide say that they can't do anything as the money never reached them. I asked if this was true as it is possible it could have been rejected (had this with Halifax who denied ever having my money but rejected it but never returned it to HSBC). My query is how long should it take for the money to come back to my account if it was rejected? The account details given by HSBC show that I input the correct account number and sort code. I wonder if the mistake is that the reference is my name and the fact that it is a current account and not mine and my husband's names?? Even if I did that though, surely as the account with Nationwide is a joint account and the money is in my name with the correct details it should still have found its way there?

It is so frustrating as my employer owes me money which was promised in my account today, but it wasn't paid, so I have no money at all to access!!!

What can I do to get this sorted out quickly?

boo_star

kelloggs36 wrote: »

I have a couple of accounts and made an on-line payment from one account to another (different bank - from HSBC to Nationwide). The money left my HSBC account immediately on 31 July but has not arrived at the Nationwide. I rang HSBC who say that they will put a trace on the money - Nationwide say that they can't do anything as the money never reached them. I asked if this was true as it is possible it could have been rejected (had this with Halifax who denied ever having my money but rejected it but never returned it to HSBC). My query is how long should it take for the money to come back to my account if it was rejected? The account details given by HSBC show that I input the correct account number and sort code. I wonder if the mistake is that the reference is my name and the fact that it is a current account and not mine and my husband's names?? Even if I did that though, surely as the account with Nationwide is a joint account and the money is in my name with the correct details it should still have found its way there?

It is so frustrating as my employer owes me money which was promised in my account today, but it wasn't paid, so I have no money at all to access!!!

What can I do to get this sorted out quickly?

If it has been rejected it's another 3 full working days to come back.

kelloggs36

Thanks - so it should have come back by now!

ManAtHome

I had one transfer returned earlier this year - out on 1st March, back in 8th March (5 working days), wasn't with the Nationwide though.

kelloggs36

I had a call from Nationwide today - it is definately not sitting in any account waiting to be put into the account but as the BACS team are not working Saturdays it isn't possible at the moment to tell if it was rejected - but she did say that if it had been it would have gone back by now. Looks like a problem with HSBC - would they be liable for my interest charges with Nationwide between the dates of transfer and the return?

jonesMUFCforever

kelloggs36 wrote: »

I had a call from Nationwide today - it is definately not sitting in any account waiting to be put into the account but as the BACS team are not working Saturdays it isn't possible at the moment to tell if it was rejected - but she did say that if it had been it would have gone back by now. Looks like a problem with HSBC - would they be liable for my interest charges with Nationwide between the dates of transfer and the return?

No. Please read the terms and conditions of your internet banking provider.

kelloggs36

So whose fault is it then if it goes missing when I have given the correct details?

gt94sss2

Why not wait for the results of the official trace HSBC have started before deciding who is responsible?

Having said that if HSBC have sent the money then its probably Nationwide..

Regards
Sunil

jonesMUFCforever

kelloggs36 wrote: »

So whose fault is it then if it goes missing when I have given the correct details?

Post #1 seems to indicate that you were not sure if details you inputted were correct.

With a Building society is it not the case you have to input a sorting code account number and then a ROLL ACCOUNT number?

dunstonh

So whose fault is it then if it goes missing when I have given the correct details?

Yours. You put the wrong account name on it.

As ejones999 says, with the exception of current accounts, you normally put the roll number in the reference. If you didnt do that and put the wrong account name in its place then the bank has no way of matching this up wtih your the right account. How many other people with that same name do they have?

They wouldnt match it with your flexaccount because that works on a different sort code range and it would be wrong for them to match it up with someone with the same name as they probably have lots of people with the same name.

would they be liable for my interest charges with Nationwide between the dates of transfer and the return?

Unlikely as the fault is not likely to be with them. The missing roll number and incorrect account name are the likely cause. However, as gt94ss2 says, best wait until you know.

kelloggs36

Actually it isn't my fault as my name is on it and my account name also has my name on it - this was confirmed by Nationwide - in any case the name details are for my to know where I sent my money to! The account number are correct, as are the sort code and my own name. So, it certainly isn't my fault!