My BS have misplaced (kept) my money

doriangray23

I accidentally transferred £1 too much to an ISA in Building Soc 1, so it was sent back to BS2.

Contacted BS1 who said it will go back in two days. Contacted BS2 because the time has elapsed. BS2 said the details hadn't been put in right so whilst they have the money they're not giving it to me, and they're sending it back to BS1. BS1 said if it comes back to them they'll just auto return it to the details it came with like they did before.

What am I supposed to do? I'm missing almost £10,000 and each BS are saying it's up to the other.

Catplan

So was this over phone or in person? 

I’d be trying once more in person at building society2, assuming you’ve not attempted this already.

If not given a satisfactory outcome I’d look at raising a complaint with them to get that ball rolling.

doriangray23

Catplan said:

So was this over phone or in person? 

I’d be trying once more in person at building society2, assuming you’ve not attempted this already.

If not given a satisfactory outcome I’d look at raising a complaint with them to get that ball rolling.

It was over the phone, I'll have to go and see them tomorrow (if they're open late enough). Thank you!

penners324

Lodge a complaint with both

LHW99

penners324 said:

Lodge a complaint with both

In writing and keep a copy

doriangray23

Done!

One say it could take four weeks, the other says eight. This is awful :'(

doriangray23

At which point do I escalate to the FCA?

Hoenir

How long has the money being "missing" ?  Unfortunately returned transactions take a totally different route to normal banking activities. 

eskbanker

doriangray23 said:

Done!

One say it could take four weeks, the other says eight. This is awful :'(

doriangray23 said:

At which point do I escalate to the FCA?

You don't, but if either fails to respond adequately within the eight weeks they're given to resolve complaints, you can escalate to the Financial Ombudsman Service at that stage - the published complaints procedure for each should explain this, as it's an industry standard process.

Beddie

Are the building societies allowed to make a complaint that the customer caused the problem in the first place?

doriangray23

Beddie said:

Are the building societies allowed to make a complaint that the customer caused the problem in the first place?

Problem solved. 

Now you can take your compassion to another thread!