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Bank refuses to arrange card balance recall payment
Rabmeercat
Posts: 2 Newbie
in Credit cards
My wife sent a balance transfer of £3500 from Santander CC to Bank of Scotland CC in error and the BOS is now in positive credit.
BOS say that they can't send the funds back to Santander as it is Santander that should request a balance recall. They also stated the FCA regulations changed in Nov 2015 and it stipulates that the sending bank must request a credit balance recall.
Santander say they cannot make a balance transfer request to BOS as the error was my wifes doing and not theirs.
Can anybody give me a steer here please?
BOS say that they can't send the funds back to Santander as it is Santander that should request a balance recall. They also stated the FCA regulations changed in Nov 2015 and it stipulates that the sending bank must request a credit balance recall.
Santander say they cannot make a balance transfer request to BOS as the error was my wifes doing and not theirs.
Can anybody give me a steer here please?
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Comments
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A recent thread: Overpaid credit card - bank doesn't want to transfer back0
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Thanks for the link.. But what is the legal responsibility of either of the banks to return monies ?0
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Well, if there was an answer to this question it would have been posted already.
It was suggested to close the account and sue the bank for the money they owe you. Feel free to try and report back. I am sure you will win, but don't take my word for this.0 -
If the BOS card is closed I can't see that they will have any option other than to return the positive balance. Perhaps just the threat of doing so will be enough for them to reconsider, but if not then go ahead and close it. As grumbler says, the ultimate recourse would be to sue them and I'd agree that your wife should win.0
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Rabmeercat wrote: »My wife sent a balance transfer of £3500 from Santander CC to Bank of Scotland CC in error and the BOS is now in positive credit.
Close the account and request a refund.
Alternatively spend the money.0 -
Thrugelmir wrote: »Close the account and request a refund.
The same terminology ("recall") indicates the possibility that "Bank A" and BOS might be the same bank.Bank A told me I can ask to close the account even when it's in credit and they don't pay it back, because the record stay for 6 months so I will have half a year to organise BACS recall...0 -
Rabmeercat wrote: »My wife sent a balance transfer of £3500 from Santander CC to Bank of Scotland CC in error
How did she manage to do that? Was she trying to obtain cash by a back door method?0 -
Does this really matter?0
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