Nat West looses cheque paid into ATM!

1885lion

On the 27th June my wife deposited a cheque for £558 into the ATM within a main Nat West branch; a receipt, complete with printed image of the original was obtained. Today, 1st July, a letter arrived from Nat West (poorly written too I might add) stating that THEY had lost the cheque. The sum had been credited to her account, then removed and again reaccredited; however, they are saying that the clearing bank requires a paper copy. They further state that if the original is not forthcoming, my wife would need to approach the originator for the cheque for a new one to be issued and deposited. A subsequent telephone call to Nat West was unhelpful as they are essentially placing the onus on her to obtain another cheque. The question here is really this: as the bank had clearly received the cheque deposited into their "secure" ATM machine (no human tellers behind a counter at this branch anymore), the onus is on them to honour the credit and then investigate the lack of security within their processes and not for my wife to be at loss due to their incompetence? In closing we are going to lodge a complaint with the FSA but was wondering if anyone else has experience of this?

Ballard

The drawer can insist on the paper cheque and natwest are unable to contact them on your behalf so I'd suggest that your wife will be better off contacting them herself. Natwest have admitted negligence so are likely to pay compensation. I don't see any need to contact the regulator (it's no longer the FSA) at this stage.

TrickyDicky101

You would need to make an official complaint to Nat West first and wait for their response (they may offer some form of compensation) and then should you not be happy lodge a complaint with the Financial Ombudsman Service (FOS) not the FSA (or FCA) which doesn't deal with inidividual complaints.

xylophone

Your wife should make a formal written complaint to Natwest. Remember that even if the cheque had been deposited over the counter, receipt issued etc, it would still have been possible for Natwest to lose the cheque in clearing.

Your wife should approach the drawer of the cheque, explain what has happened ( she can show him/her the letter from Natwest), and ask for a new cheque.

It is probable that the drawer's bank will insist that the cheque be stopped and will wish to charge for this - your wife should reimburse the drawer if so and reclaim from Natwest as part of the compensation paid for their error?

jonesMUFCforever

Your wife does not need to ask for a new cheque - just supply bank details for a faster payment.