£3588 Taken Out Of My Natwest Saving Account

takkari

Tozer wrote: »

Query whether it is not exactly the same amount as the scholarship money due to currency fluctuations.

I would have thought the bank would have known straight away if the cheque / bankers draft had bounced.

Yes there is a difference in the amount I got and the amount taken out. This due to be currency fluctuations as I was sent money in US Dollars.

Bank should know straight away but they have no idea about this.

maninthestreet

I suspect that the mystery withdrawal is the draft/cheque being returned unpaid from whatever (foreign?) bank it was drawn on, the difference being due to currency fluctuations. It may take many weeks for cheque/draft from a foreign bank to be returned unpaid. Which bank, in which country was that draft/cheque drawn on?

takkari

maninthestreet wrote: »

I suspect that the mystery withdrawal is the draft/cheque being returned unpaid from whatever (foreign?) bank it was drawn on, the difference being due to currency fluctuations. It may take many weeks for cheque/draft from a foreign bank to be returned unpaid. Which bank, in which country was that draft/cheque drawn on?

The draft was sent from Pakistan, it was in US Dollars and the Branch name written on the draft was New York (USA).

maninthestreet

I presume trying to contact the issuing bank isn't an option here?

jonesMUFCforever

takkari wrote: »

The draft was sent from Pakistan, it was in US Dollars and the Branch name written on the draft was New York (USA).

It is now clear what has happened.
The draft has not been paid for one reason or another.
You have been lucky in that you have gained due to exchange rates going in your favour.
You are also lucky because some banks would have debited you with the original amount and if the rate had gone against you - debited you for that as well.
If you look at the paperwork from the bank I think you will see somewhere 'negotiated with recourse'
You now need to contact the person who sent you the money for an explanation.

takkari

jonesMUFCforever wrote: »

It is now clear what has happened.
The draft has not been paid for one reason or another.
You have been lucky in that you have gained due to exchange rates going in your favour.
You are also lucky because some banks would have debited you with the original amount and if the rate had gone against you - debited you for that as well.
If you look at the paperwork from the bank I think you will see somewhere 'negotiated with recourse'
You now need to contact the person who sent you the money for an explanation.

Yes, I can see the followings:

22FEB2008 TFR NONREF , CHQCTRO01932486 , PAID WITH RECOUR , SE , CHQ NEGOTIATION £3653.54

14MAR2008 ITL OUTOC1106-12MAR8 , MCENBTSABF87 , SUNDRY DR £3588.16

I will contact the sender of draft.
Thanks