Reversing a bank transfer

Raoultheman

I have transferred from my Barclays bank account to my Revolut account, by doing a card payment. I need to pay a large sum in Euros. The aim was to transfer from Barclays to Revolut in pounds, then get a fee-free currency exchange at good market exchange rate with Revolut. Unfortunately I did the transfer in Euro meaning Barclays have charged me a fortune. It is still pending at Barclays side but is showing completed at Revolut so Revolut are saying they cannot reverse it and Barclays say they can only get it back if Revolut allow it. Anyone got any idea as to whether there is a way for me to undo this card payment? Preferably to undo it so it never exits pending on Barclays side as that should mean the fees go away as no transaction existed. Alternatively can I complain to Barclays, or dispute the payment somehow, to try to get Barclays to let me off the fees (or even some of the fees)? The fees total £2k, so even a partial forgiveness would help.

TheSpectator

It will still be a pending debit card payment on Barclays side. Why would you cimplain to Barclays for your error? You authorised the transaction, they have sent Euros per your request.

Raoultheman

TheSpectator said:

It will still be a pending debit card payment on Barclays side. Why would you cimplain to Barclays for your error? You authorised the transaction, they have sent Euros per your request.

I would not be complaining about their process as they have done nothing wrong in that regard. My complaint would be that after 40 years with them, I would hope they could forgive some of their charges as a reward for customer loyalty. So perhaps "complaint" was not the word I am looking for. I do however feel Revolut should be able to cancel this transaction from their end (especially while it remains pending at Barclays end) but are simply deciding they do not want to have the hassle of doing so.

Ayr_Rage

Revolut can do nothing apart from agreeing to Barclays retrieving the funds.

Even if Barclays can recall the funds you may have to pay something for exchange rate changes between the two transactions.

It sounds very much like it's going to be an expensive mistake entirely on your part.

flaneurs_lobster

The fact that Revolut make debit card payments to your account available immediately is one of their major advantages, or rather because of your error, disadvantages. 

By all means plead your case to Barclays (who do you even talk to about this?) but I'm afraid that you'll soon discover exactly how much your loyalty counts for in the modern corporate world.

Olinda99

you may get charged again to convert the euros back to GBP if you reverse it