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Have Oaknorth stolen my money?
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inthemix
Posts: 8 Forumite
I opened an ISA with Oaknorth recently, on suggestion via the MSE website.
Yesterday, I transferred £500 into it to 'start it up' but obviously didn't read up on the requirements properly as you need to transfer £1000, which I don't have.
Cue 10 minutes before connecting to customer services then the call cut off; another 10 minutes to get through to the same guy who confirmed that they will just transfer the money back and the account has been closed (email to confirm this) - 'the money should be with you by 5pm tomorrow' (today 10.4.19) It's not back in my account and now I'm kicking myself that I may have fallen for a scam but second guessing that because of going through MSE.
Can anyone help ease my concerns, please? Thank you so much!
Yesterday, I transferred £500 into it to 'start it up' but obviously didn't read up on the requirements properly as you need to transfer £1000, which I don't have.
Cue 10 minutes before connecting to customer services then the call cut off; another 10 minutes to get through to the same guy who confirmed that they will just transfer the money back and the account has been closed (email to confirm this) - 'the money should be with you by 5pm tomorrow' (today 10.4.19) It's not back in my account and now I'm kicking myself that I may have fallen for a scam but second guessing that because of going through MSE.
Can anyone help ease my concerns, please? Thank you so much!
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Comments
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No one has stolen your money.0
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assuming you're referring to OakNorth bank plc, which are regulated by the FCA and PRA (Reg: 629564) then i'd say you're pretty safe to say you won't be losing any money. If you don't receive the money back when you were expecting it, or when you were told you would, then I would say you lodge a complaint with them first.0
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Corporate payments do not always use the faster payments system. So, whilst they may have transacted the money back to you, it could be going via BACs which is three days to arrive.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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