Swift transfer

Superskinner

Hi

Wondered if anyone can advise or have had a similar thing happen to them?

We have a Nationwide Flex Account and going on holiday to Spain in August needed to pay for villa. Villa owners are people known to us and fully trusted. Correct bank details given and passed onto Nationwide who asked us to come in to the bank and arrange the transfer. Details treble checked with cashier. That was mid May. End of May Villa owner contacted us to say money not received. Logged with Nationwide, investigation raised, money still not recovered 26/07/16. Spanish bank asked for 10 day extension twice we agreed based on the advice from Nationwide.
They have come back to us again (3rd time)and asked for a further 10 days, we are going to refuse as it's getting close to our holiday and we need the funds!! What can we do?? Any help very much appreciated

Ballard

I would ask for a copy of the Swift so that you can check that no mistakes were made after you'd left the branch. If everything still looks good then I'd email it to the intended beneficiary and ask them to get onto their bank from their end. You need to check (from memory) fields 57 (beneficiary bank) & 59 (beneficiary).

If this doesn't bring you any further then you should ask your bank to request return of funds. The issue with that is that if you've converted GBP to EUR they are likely to convert the funds back and you won't be happy with the rate that you'll get now so you would have to discuss it with them from the outset.

It really shouldn't take more than a day or two to sort this out so it's awful that you've been given the run around for so long.

JGUK

Is there any reason you didn't do a SEPA payment to Spain ?

Is that something Nationwide don't do yet ?

mgdavid

Note for the future: don't use a bank to send funds abroad.
Use a currency broker to buy the Euros or whatever you need and do a SEPA payment from them to the recipient. All under your control, trackable and takes a couple of days start to finish. Added bonus is a *much* better rate of exchange than bank will ever offer.

Superskinner

Hi
Thanks for responding to our post

We've done all that you've mentioned the Spanish bank have failed to respond. We spent another 40 minutes in Nationwide today only to be told they can do nothing until the Spanish bank respond!!

Superskinner

Hi

Thank you noted just feel foolish that we didn't do our normal research. It was the villa owner who asked for a swift transfer.

Superskinner

The Villa owner regularly does swift transfers and this has only happened to her once a long time ago.

eDicky

Can the villa owner not stir up her bank to get some response from that end?

Superskinner

Hi

She has tried but no luck on her side

eDicky

Superskinner wrote: »

She has tried but no luck on her side

So perhaps she needs to try a little harder, presenting to her bank the full SWIFT details, and have them at least make a response to Nationwide that it was not received so that Nationwide have no excuse to delay action on return of_funds.