Bank Transactions

Fryer2000

Hi guys

I'm after some advise. If a bank transfer has been made. Is it possible for that to be reversed?

HappyMJ

With the assistance of the person the money was sent to then yes it's possible.

If you don't have their co-operation it becomes very difficult if not impossible.

Westie983

Is the transfer to another person or is it to a company?

If so, you will need to contact that person or company and ask for them to send the money back to you.

If there has been a mistake in the transfer (wrong details or reference) you may find the company will send it back to you automatically.

** I send money to my credit card with the wrong account details and it was send back when the details were not matched with a valid account,

need more information to be able to help.

Fryer2000

Hi thanks for getting back to me. I'm yet to find out the full details (it's my Dad's account) unfortunately he is very nieve when it comes to anything technical. And unfortunately he was fallen for a scam. Involving a phone call from "microsoft" claiming his pc has virus's and a £7,000+ bank transaction. To someone in New York.

He's contacted the bank and police. Who want nothing to do with it, it seems but that might just be because he's not given much info to them. It doesn't sit right with me to do nothing so I'm trying to help him.

I've got a name and I think a IBAN number but was hoping that someone could shed some light as to if it's possible to successfully claim back the funds or if I'm just "flogging a dead horse" so to speak.

agrinnall

As it will have been a SWIFT transfer then different rules will apply to those for a within-UK transfer. Unfortunately I think the end result will be the same, that a completed transfer is not reversable.

As the money has gone to the USA there won't be a lot that can be done about it in the UK, although if you are persistent the police (or Action Fraud) may be able to contact US authorities - I suspect that as this is an out of state issue that it will come under the auspices of the FBI.

TheBanker

As I understand, the bank can attempt to recall a SWIFT transaction but if it's already arrived at the other end, the recall will need approval of the recipient.

In my bank (not Barclays) we have a special team in the Fraud department who help customers who have fallen victim to a scam. I am not sure whether Barclays have a similar team but it would be worth trying to find out - they may be able to do a bit more to help than the normal customer services staff.

Action Fraud may have some ideas, might be worth a call if you dad hasn't already?

Fryer2000

The bank in question is HSBC. I'm hoping to go in with Dad next week. (Pointless going in on my own) also the transaction was a few weeks ago so I don't think a recall will be possible! Will try action fraud and a call to the FBI. Unlikely I know but I'd like to think someone can help him

eskbanker

Fryer2000 wrote: »

The bank in question is HSBC. I'm hoping to go in with Dad next week. (Pointless going in on my own)

If it's not your account they wouldn't talk to you on your own anyway, unless you have power of attorney.

Fryer2000 wrote: »

the transaction was a few weeks ago so I don't think a recall will be possible!

Regardless of timing, I think you'd be best to forget any notion of a recall/reversal - as above this may sometimes be possible but only with the consent of the recipient, and in the circumstances (i.e. funds sent to a scammer) that's just not going to happen.

Chino

eskbanker wrote: »

If it's not your account they wouldn't talk to you on your own anyway, unless you have power of attorney.

and even then they probably still wouldn't:

"http://www.telegraph.co.uk/finance/personalfinance/bank-accounts/10639746/Families-let-down-by-banks-over-Power-of-Attorney-on-Isas.html"

"http://www.theguardian.com/money/blog/2011/sep/10/power-of-attorney"

Fryer2000

Dad will be with me when we go in so that won't be an issue. And I'm fully understand that he's not likely to see a penny of that 7k back but I've got to try surely?

Westie983

Why wait for next week get into the bank ASAP as you have now been made aware of the issue, more likely to get some help then if you say "It happened sometime a few weeks ago, I found out last week and now I'm here speaking to you"

surely you would be best to get hold of HSBC fraud department and let them know your dad has fallen for a scam noting the Microsoft name. Im sure that HSBC will have had others that have also fallen for the same or very similar type of scam, I know I have dealt with at least two people in the bank who have been caught by telephone scams....