Lost international payment transfer

michelle22cat

I have sent a payment to a large Cyprus bank for €150 euro through Lloyds. The payment details are all correct and the bank have given me a receipt. The payment has not arrived from 3 weeks ago.

Lloyds are currently tracking the payment and have said next option is to try to claim it back if they dont trace it. They have said if these options don't work then I have lost the money.

I can't believe this is the case as what happens if large amounts like €100k euro are sent and lost.

Does Lloyd's have to resend or return my money?

Ergates

If the money were lost then that would depend on how it was lost and who was responsible.

michelle22cat

I have no idea who is responsible but it isn't me. I am not sure if anyone will win up

Aylesbury_Duck

If the Cypriot bank sent you a receipt, they've lost it and surely it's nothing to do with Lloyds?

Manxman_in_exile

Aylesbury_Duck said:

If the Cypriot bank sent you a receipt, they've lost it and surely it's nothing to do with Lloyds?

I assumed the receipt was from Lloyds?  The transfer hasn't arrived with the bank in Cyprus yet.  (Or I assume the OP means the receipt is from Lloyds.  As often, it's hard to tell what they mean).

born_again

International transfers do not just go from sending to receiving bank. There are other parties involved in the transfer. Which is why it takes time to trace the payments. As it is a totally manual process & each bank has to wait for the next in the chain to respond.

If they do not turn up & they say you have lost the money. Then you complain. They will resolve the complaint & you will get your 150 euro back. If it went to FOS it would cost them more as they would lose.

michelle22cat

Lloyd's have given me a tracing receipt which shows it went to the recipient acc but the recipient states they havent received it as per their bank acc

mattyprice4004

Could the recipient be lying?

michelle22cat

I dont think so it's a big company. The trace will see where the payment is hopefully

born_again

michelle22cat said:

Lloyd's have given me a tracing receipt which shows it went to the recipient acc but the recipient states they havent received it as per their bank acc

So is this receipt that you got when making the payment? If it is it does not prove the funds got to where it states. They could be anywhere between Lloyds & the receiving bank.

nyermen

$100 has likely gone as a sepa credit transfer (charges wouldn't make swift likely), so it should be very traceable as there's a lot more structure to the sepa rule book on these things.  Did lloyds get a response message back for example (its one of the "R messages") such as a rejection or return.  (https://www.europeanpaymentscouncil.eu/document-library/guidance-documents/guidance-reason-codes-sepa-credit-transfer-r-transactions-0 )