Nationwide bank transfer fraud

Freeofdebts

I am completely devastated by Nationwide policy on consumer protection as there is none!
On Nov 14th I made a bank transfer of £6000.00 to a bitcoin trader who didn't give me the Bitcoin but kept the money for herself. I made the bank transfer at 2.15 I quickly called but was kept on the phone for 40 mins I finally made it through at 3.08 asking to stop the payment as there has been a fraud. They said they could not do anything about it. I have to call action fraud which I did I complained more than once I also went to Barclays who were more helpful but said that it is Nationwide who has to make the request they refused to do it. Barclays were appalled at Nationwide. Barclays are now looking into the matter but according to Nationwide I am the only one to blame and they cannot do anything about it and also told me that if I went to the financial ombudsman I would be told the same thing. How can this be that there is no protection for the consumer and how can they get away with that. Is there anything I can do?

Thank you

Alter_ego

So you made a bank transfer?

BoGoF

Sorry but bottom line is you are the one that made the request. These forums are littered with people who foolishly make bank transfers to random strangers then expect the banks to foot the cost.

DCFC79

Freeofdebts wrote: »

I am completely devastated by Nationwide policy on consumer protection as there is none!
On Nov 14th I made a bank transfer of £6000.00 to a bitcoin trader who didn't give me the Bitcoin but kept the money for herself. I made the bank transfer at 2.15 I quickly called but was kept on the phone for 40 mins I finally made it through at 3.08 asking to stop the payment as there has been a fraud. They said they could not do anything about it. I have to call action fraud which I did I complained more than once I also went to Barclays who were more helpful but said that it is Nationwide who has to make the request they refused to do it. Barclays were appalled at Nationwide. Barclays are now looking into the matter but according to Nationwide I am the only one to blame and they cannot do anything about it and also told me that if I went to the financial ombudsman I would be told the same thing. How can this be that there is no protection for the consumer and how can they get away with that. Is there anything I can do?

Thank you

Yes there is protection for the consumer, only use a bank transfer if your transferring to an account of your own or you trust the person on the other end. You could just not go near bitcoin full stop.

Freeofdebts

Hi
I suggest that if you do not have anything positive or constructive please keep your judgment for yourself. I was purchasing a good and I said it on the transfer which I never got. I asked Nationwide to stop it straight away and they didn't.

Please keep unconstructive comments for yourself

KeithP

Freeofdebts wrote: »

I am completely devastated by Nationwide policy on consumer protection as there is none!
On Nov 14th I made a bank transfer of £6000.00 to a bitcoin trader who didn't give me the Bitcoin but kept the money for herself. I made the bank transfer at 2.15 I quickly called but was kept on the phone for 40 mins I finally made it through at 3.08 asking to stop the payment as there has been a fraud. They said they could not do anything about it. I have to call action fraud which I did I complained more than once I also went to Barclays who were more helpful but said that it is Nationwide who has to make the request they refused to do it. Barclays were appalled at Nationwide. Barclays are now looking into the matter but according to Nationwide I am the only one to blame and they cannot do anything about it and also told me that if I went to the financial ombudsman I would be told the same thing. How can this be that there is no protection for the consumer and how can they get away with that. Is there anything I can do?

Thank you

Did Nationwide do what you asked them to do?

I.e. did they transfer the amount that you asked to be sent and did they send it to the Barclays account that you specified?

DCFC79

Freeofdebts wrote: »

Hi
I suggest that if you do not have anything positive or constructive please keep your judgment for yourself. I was purchasing a good and I said it on the transfer which I never got. I asked Nationwide to stop it straight away and they didn't.

Please keep unconstructive comments for yourself

Does it count if I were to say your money is lost ?

That is my opinion.

Freeofdebts

They did but I realised straight away that the account was a fraudulent one when i didn't receive the bitcoin straight away and asked them to stop the payment as soon as I could get through but they refused to stop the payment.

MothballsWallet

Freeofdebts wrote: »

Hi
I suggest that if you do not have anything positive or constructive please keep your judgment for yourself. I was purchasing a good and I said it on the transfer which I never got. I asked Nationwide to stop it straight away and they didn't.

Please keep unconstructive comments for yourself

Sorry, but you can't control who posts on the forum, or what they say - even if it's something you don't want to hear.

BoGoF

That is the danger of bank transfer.....it is instant, once you press that button it's gone and at the other end the fraudster is rerouting that money all over the place.

If you want to hear that your consumer rights will get you out of this then you will be disappointed.

shaun_from_Africa

Freeofdebts wrote: »

They did but I realised straight away that the account was a fraudulent one when i didn't receive the bitcoin straight away and asked them to stop the payment as soon as I could get through but they refused to stop the payment.

Look at it from Nationwide's point of view.
You willingly made a bank transfer to purchase virtual currency, something that you may well have received and you might be the one doing the scamming by asking for them to arrange for the payment to be stopped. (I'm not implying that this is what happened, but how would Nationwide know it wasn't the case?)
Scammers like bank transfers because they know that generally once the money has been sent, it's extremely hard for the sender to get it back if they willingly made the payment.

Freeofdebts wrote: »

I was purchasing a good and I said it on the transfer which I never got.

I wouldn't call bitcoins "a good"
They are simply a bit of computer code that can be used as virtual currency and are something that is basically untraceable.