lost CHAPS payment

Ergates

jonesMUFCforever wrote: »

The OP has stated it was received by the P.O. but not credited to correct account - how were TSB responsible for this?
Put it another way they were asked to send £x to sort code xxxxx account number yyyyyyyy which OP checked was correct.
Had the sort code or account number was incorrect or the payee's name on the transfer did not match it would have bounced back to TSB.

They might not have been responsible for the error, but the OPs contract was with them, therefore it's on them to ensure it gets resolved - even if that just means they keep badgering the PO until they find the money.

jonesMUFCforever

Ergates wrote: »

They might not have been responsible for the error, but the OPs contract was with them, therefore it's on them to ensure it gets resolved - even if that just means they keep badgering the PO until they find the money.

I think we will just have to agree to disagree on this one.

MarkST

I, MarkST, the customer & TSB account holder, paid TSB £30 to do the CHAPS transfer

MarkST

Thank you. I simply do not know! I gave them my specific account details. They told me yesterday that they had found the money but as of 15 min ago it is still not in my account.

MarkST

The PO only informed us yesterday [day 12] that they had the money. Up too that date we do nor know the whereabouts so it could still have been with TSB. The route is apparently TSB > Barclays > Nast West > Bank of Ireland > PO account which sounds unreliable in it's design especially for a CHAPS payment.
If I order a parcel from Amazon for next day delivery & it arrives 2 weeks later I do not seek redress from the delivery company but from Amazon. In the same way, surely my contract is with TSB & they are responsible, or is the law different for the banks???

Owain_Moneysaver

It's different for the banks because TSB is only responsible for sending the money out. The Post Office / Bank of Ireland is responsible for receiving the money in.

xylophone

TSB is only responsible for sending the money out.

The OP is a TSB customer.

TSB made the payment.

It was confirmed that the money had been sent to the correct destination.


TSB should have reassured the customer and traced the payment (insisted that PO find it) rather than telling him that he might never get back his life savings.

I have received a letter from TSB saying that I may not get the money back.

The way this customer has been treated by TSB leaves a great deal to be desired - in his place I would be complaining to the Ombudsman.

MarkST

I logged into my PO account on Saturday to see that the money had arrived. Huge relief!
I am very grateful for all the support received through the forum. Thank you.

I am now following up with complaints to TSB & the PO. Who will accept responsibility for a same day CHAPS payment taking 15 days to reach the destination account? I thought that, in line with a previous contributor, my contract was solely with TSB [to whom I paid £30 for the service] who therefore would have responsibility for the whole transaction. However, another contributor suggests that TSB only had responsibility for sending the money out, the PO having responsibility for accepting the money in. I would like to confirm what is the correct apportionment of responsibility in this situation.

eskbanker

I don't believe it's as simple as saying that you paid the fee to TSB therefore your contract was with them and therefore they're consequently liable for any problems regardless of whereabouts in the chain they happened. Unlike, say, the current account switching service (where it's clearly defined that all responsibility rests with the receiving bank), for CHAPS there will presumably be some scenarios where the fault lies with sender and others where it lies with the recipient, and I don't believe that the sending bank would have any liability in the latter scenario, for events beyond their control.

Your previous example about Amazon and delivery companies doesn't apply here because the delivery company is contracted to Amazon, whereas a funds transfer between two separate institutions doesn't fit that style of contractual relationship.

However, getting to the bottom of exactly where the fault lay on this one is probably not straightforward if both institutions point the finger at the other one....

MarkST

Thank you eskbanker. You comment is really appreciated in helping me to understand where the responsibilities lie. I suspect that it is the PO that is at fault.