Solicitor send proceeds to fraud account

Exodi

Comms69 wrote: »

What bank has a £20k limit on transfers?

https://www.moneysavingexpert.com/news/2014/11/customers-being-ripped-off-by-banks-on-faster-payments-limits/

Unless the random person wants to pay to send the amount via CHAPs (surprised the solicitor hasn't offered to reimburse them to do this but hey ho).

saajan_12

mr_megs wrote: »

An update, it turns out they didn't receive a spoof email, they just sent it to another client of theirs instead of me by mistake!

They have contacted the person and said person has confirmed they've received it and he is going to start sending the money back £20k a day (due to their banks transfer limit).

Not ideal but as soon as solicitors receive the money they are going to transfer to me straight away, so should be fully reimbursed over the next few days.

Huge relief that it wasn't sent on the back of a spoof email ie someone TRYING to scam and keep the money. However basic job of your solicitor is to keep client accounts straight, so this is a significant failing.

I'd expect them to get it sent over quicker in a lump sum, with solicitors footing the CHAPS bill if needed. In a few days the stranger other client could forget / stop paying / be held up by fraud teams (I tried paying ~70k before over 2 days with a similar limit and it good a week of hassle with the bank to convince them the repeated payments weren't fraudulent / accidental.. will the other client really bother with following that up?)

lisyloo

he is going to start sending the money back £20k a day (due to their banks transfer limit).

I would have expected the solicitor to re-imburse the £25/£30 CHAPS fee.

xylophone

Not ideal but as soon as solicitors receive the money they are going to transfer to me straight away, so should be fully reimbursed over the next few days.

Crumbs, that's an understatement!

I think that you should be making a formal complaint and at the least be requiring your solicitor to be paying for a CHAPS payment by their client.

mr_megs

I had asked for their client to make a CHAPS payment but the client has said he can only do that in a branch and he can't get to a branch as he is working. I guess I'll just have to wait...

https://supportcentre.natwest.com/Searchable/913207962/How-can-I-make-a-CHAPS-payment.htm

Comms69

I'd expect the solicitor to pay the money today and recoup their loss as appropriate with their other client.

pinkteapot

Comms69 wrote: »

What bank has a £20k limit on transfers?

HSBC is £25k, unless you pay about £30 to do a larger payment, as I found when I wanted to move the proceeds of our house sale out.

Slinky

I once had money paid into an account of mine, the sender or receiver must have realised and contacted their bank who traced it to my account. I was contacted and asked to confirm it was not my money and that it could be returned, which of course I did. This was all sorted by the banks involved. I'm surprised that in this case given the large amount involved, they haven't tried doing that instead.

hazyjo

Wonder if this is the solicitor trying to hush it up. If it's sent to them, their mistake would surely be 'discovered'. Would it be spotted if their client transferred £20k a time straight to the OP? :think:

mr_megs

Slinky wrote: »

I once had money paid into an account of mine, the sender or receiver must have realised and contacted their bank who traced it to my account. I was contacted and asked to confirm it was not my money and that it could be returned, which of course I did. This was all sorted by the banks involved. I'm surprised that in this case given the large amount involved, they haven't tried doing that instead.

Yes you are correct and the solicitors did say they were on the phone to the bank and reported it to them so surely this is what should happen, not that their/the banks client then has to take it upon themselves to transfer the money out in 20k chunks, what if the amount was 500k, it would take weeks!

Something seems off here!