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  • FIRST POST
    • Swiggle
    • By Swiggle 3rd Jan 18, 2:07 PM
    • 11Posts
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    Swiggle
    Bank transferred to wrong account
    • #1
    • 3rd Jan 18, 2:07 PM
    Bank transferred to wrong account 3rd Jan 18 at 2:07 PM
    I will try and keep this short yet detailed.

    I tried to make a transfer from bank A to bank B via telephone. However it has incorrectly gone to Bank C. Bank A has admitted fault after listening back to the telephone call - I gave the correct details. They are now trying to retrieve the money. That was a month ago.

    I still have not retrieved the money. Bank A don't know what is taking Bank C so long. Bank C have told me via telephone that they have to give the account holder 20 working days to provide evidence as to whether the money is theirs or not (I know the account holder and they're not helping the situation move forward as we are not on speaking terms), this is despite the fact that Bank A have audio recorded evidence it does not belong to the account holder at Bank C.

    They are being very difficult about allowing me to make a formal complaint about their procedures as a non-customer. I want a paper trail showing I have spoken to Bank C - my point is that Bank A have evidence that the money does not belong to the account holder it was incorrectly sent to (telephone call). I have spoken to the FO and they have informed me that the account holder (bank C) has no legal recourse to those funds and that the bank should not have to seek authorisation from them to retrieve the money.

    I am also growing increasingly concerned regarding comments I have heard 'through the grapevine' made by the account holder at Bank C regarding how much money they have come into.

    I have no idea what my rights are as I am being told two different things by Bank A and Bank C.
    Last edited by Swiggle; 03-01-2018 at 2:11 PM. Reason: spelling
Page 1
    • PeacefulWaters
    • By PeacefulWaters 3rd Jan 18, 2:11 PM
    • 8,318 Posts
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    PeacefulWaters
    • #2
    • 3rd Jan 18, 2:11 PM
    • #2
    • 3rd Jan 18, 2:11 PM
    Complain to your bank.

    Highlight that they have confirmed that they are at fault.

    Insist they reimburse you fully, immediately, plus an ex-gratia payment for messing you about.

    Then let them do whatever they want to recover the funds as it won't be your problem and should never have been your problem.
    • Swiggle
    • By Swiggle 3rd Jan 18, 2:23 PM
    • 11 Posts
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    Swiggle
    • #3
    • 3rd Jan 18, 2:23 PM
    • #3
    • 3rd Jan 18, 2:23 PM
    Thanks very much Peaceful. I'll call them today. They've been upfront about fault and compensation, but did not realise they could reimburse me before retrieving from Bank C.
    • PeacefulWaters
    • By PeacefulWaters 3rd Jan 18, 2:36 PM
    • 8,318 Posts
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    PeacefulWaters
    • #4
    • 3rd Jan 18, 2:36 PM
    • #4
    • 3rd Jan 18, 2:36 PM
    Thanks very much Peaceful. I'll call them today. They've been upfront about fault and compensation, but did not realise they could reimburse me before retrieving from Bank C.
    Originally posted by Swiggle
    The procedure they're following is for when you make an error.

    They shouldn't expose you to ongoing loss while trying to rectify their own mess.
    • EachPenny
    • By EachPenny 3rd Jan 18, 2:38 PM
    • 5,244 Posts
    • 13,977 Thanks
    EachPenny
    • #5
    • 3rd Jan 18, 2:38 PM
    • #5
    • 3rd Jan 18, 2:38 PM
    ...(I know the account holder and they're not helping the situation move forward as we are not on speaking terms), this is despite the fact that Bank A have audio recorded evidence it does not belong to the account holder at Bank C.
    Originally posted by Swiggle
    If the error happened because you have the details of this person saved as a payee, then make sure you delete them to avoid the same thing happening again (next time it could be you making a mistake with a FP transaction).

    If it is someone you are having to make ongoing payments to, then I would consider setting up a separate account to pay them from to avoid the risk of future accidental payments.
    "In the future, everyone will be rich for 15 minutes"
    • Swiggle
    • By Swiggle 3rd Jan 18, 2:43 PM
    • 11 Posts
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    Swiggle
    • #6
    • 3rd Jan 18, 2:43 PM
    • #6
    • 3rd Jan 18, 2:43 PM
    Thanks EachPenny, I will be closing the account once the money is reimbursed.

    Peaceful, in terms of compensation for a month of stress and financial loss, what is reasonably justifiable?
    • Comms69
    • By Comms69 3rd Jan 18, 2:46 PM
    • 2,970 Posts
    • 2,939 Thanks
    Comms69
    • #7
    • 3rd Jan 18, 2:46 PM
    • #7
    • 3rd Jan 18, 2:46 PM
    Your complaint is with your bank, not bank C.


    They may offer a token 50 payment. Unless your losses are higher id accept.
    • EachPenny
    • By EachPenny 3rd Jan 18, 3:15 PM
    • 5,244 Posts
    • 13,977 Thanks
    EachPenny
    • #8
    • 3rd Jan 18, 3:15 PM
    • #8
    • 3rd Jan 18, 3:15 PM
    Thanks EachPenny, I will be closing the account once the money is reimbursed.

    Peaceful, in terms of compensation for a month of stress and financial loss, what is reasonably justifiable?
    Originally posted by Swiggle
    I would also ask them to confirm in writing that they made the payment to the other person by mistake and have reimbursed you out of their own pocket. This will be useful if you later need to avoid any issues with tax, or if there are potentially any issues that might arise over you appearing to make a payment to the other person. I don't know the circumstances between you (and there's no need to know), but I can imagine scenarios where making a large payment to someone you are not on speaking terms with might cause subsequent repercussions.
    "In the future, everyone will be rich for 15 minutes"
    • PeacefulWaters
    • By PeacefulWaters 3rd Jan 18, 3:17 PM
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    PeacefulWaters
    • #9
    • 3rd Jan 18, 3:17 PM
    • #9
    • 3rd Jan 18, 3:17 PM

    Peaceful, in terms of compensation for a month of stress and financial loss, what is reasonably justifiable?
    Originally posted by Swiggle
    I'd say 50 plus any costs you may have incurred. Such as overdraft fees, credit card interest etc.

    I'd also recommend being more demanding of any bank that makes an error on your account in future.
    • Swiggle
    • By Swiggle 5th Jan 18, 10:58 AM
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    Swiggle
    I'd say 50 plus any costs you may have incurred. Such as overdraft fees, credit card interest etc.

    I'd also recommend being more demanding of any bank that makes an error on your account in future.
    Originally posted by PeacefulWaters
    So I have now spoken to the bank who made the error. They're being incredibly difficult about the whole thing. I asked to speak to a manager but they wouldn't let me, saying they didn't have anyone available (that was this morning and yesterday).

    They said they will do a "temporary transfer" in the next 24 hours. Now I'm worried with the use of the word "temporary"?
    The original person dealing with the issue "didn't realise" he could do that. Someone else is now dealing with the situation.

    I would also ask them to confirm in writing that they made the payment to the other person by mistake and have reimbursed you out of their own pocket.
    Originally posted by EachPenny
    Thank you this is a very good idea and I will be asking for this.
    They are calling me back in 3 hours time.
    • Swiggle
    • By Swiggle 5th Jan 18, 11:07 AM
    • 11 Posts
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    Swiggle
    Your complaint is with your bank, not bank C.


    They may offer a token 50 payment. Unless your losses are higher id accept.
    Originally posted by Comms69
    I don't think I'd be willing to accept 50 if I'm really honest.
    I paid 25 to send the chaps payment in the first place, as it was over the daily limit via telephone. It has also been a month, causing financial disruption and worry, and quite honestly serious issues for my relationships with the people that are involved.
    Not only due to their original error, but due to the continued month of errors and incompetence. I have lost count of the number of hours I have lost on the phone dealing with this problem.
    • IanManc
    • By IanManc 5th Jan 18, 11:23 AM
    • 544 Posts
    • 886 Thanks
    IanManc
    You don't have a complaint against Bank C. They haven't done anything wrong.

    Your complaint is against Bank A. They should have reimbursed your account immediately and then made the transfer you requested to Bank B, which would have sorted the matter out for you. Then money wrongly being in Bank C is their fault, their problem, and the recovery of it or not is nothing to do with you.

    This should all have been sorted out as soon as they admitted their mistake, and the fact that it hasn't been - and that it has now gone on for a month - is definitely a cause for complaint. I'm not one for encouraging trivial complaints to banks, but this isn't trivial - it is a disgrace.
    • Shakin Steve
    • By Shakin Steve 5th Jan 18, 11:23 AM
    • 1,456 Posts
    • 1,200 Thanks
    Shakin Steve
    I received emails from both Barclays and Tesco!!!8217;s in November/December telling me that a change in their terms and conditions meant that they would be able to take money from my account, without my permission, if they had reason to believe it had been payed in by mistake. Perhaps these terms haven!!!8217;t been implemented yet, but I think it will apply to most banks.
    I came into this world with nothing and I've got most of it left.
    • agrinnall
    • By agrinnall 5th Jan 18, 11:31 AM
    • 20,345 Posts
    • 16,121 Thanks
    agrinnall
    Is this a payment from a business account (or an account used for business purposes)? Most people only make personal CHAPS payments when buying a house, which doesn't seem to be that case here. I don't know whether it really makes any difference to the way it should be resolved even if it is a business transaction, but I'd say it's information that we should know to ensure the responses given are relevant.
    • PeacefulWaters
    • By PeacefulWaters 5th Jan 18, 11:42 AM
    • 8,318 Posts
    • 10,656 Thanks
    PeacefulWaters
    So I have now spoken to the bank who made the error. They're being incredibly difficult about the whole thing. I asked to speak to a manager but they wouldn't let me, saying they didn't have anyone available (that was this morning and yesterday).

    They said they will do a "temporary transfer" in the next 24 hours. Now I'm worried with the use of the word "temporary"?
    The original person dealing with the issue "didn't realise" he could do that. Someone else is now dealing with the situation.



    Thank you this is a very good idea and I will be asking for this.
    They are calling me back in 3 hours time.
    Originally posted by Swiggle
    Contact the bank's complaints department.
    • Swiggle
    • By Swiggle 5th Jan 18, 12:05 PM
    • 11 Posts
    • 0 Thanks
    Swiggle
    Contact the bank's complaints department.
    Originally posted by PeacefulWaters
    Unfortunately this is the complaints department I have been dealing with. They're now asking me to clarify things I have asked on a phone call I made with them on the 23rd of December. I said I can't clarify anything because I have made so many phone calls I can't actually remember.

    Again, they won't let me speak to a manager. I feel as though they are putting road blocks in my way, and are being incredibly rude and patronising. Needless to say I will not be banking with this bank ever again.
    • Swiggle
    • By Swiggle 5th Jan 18, 12:42 PM
    • 11 Posts
    • 0 Thanks
    Swiggle
    Update: I told them that from this point forward I will be recording any phone calls, and they seem to have changed their tone.

    They will be "trying" to arrange for the money to go into the account that it is held with them and then they will transfer to the correct account via telephone. They said that although it is a temporary transfer they will not be chasing for the money should they be unable to retrieve it back from bank C. I have received a complaints reference number and when they call me back to confirm I will be asking for a written letter to confirm everything in writing as suggested by someone above.
    • pmduk
    • By pmduk 5th Jan 18, 1:04 PM
    • 8,537 Posts
    • 6,316 Thanks
    pmduk
    Now you've received the complaint reference number I'm prepared to believe they're taking it more seriously. This is what should have happened when you first complained. I'm certain they'll settle this before the FOS ever sees it because they don't have a leg to stand on.
    • IanManc
    • By IanManc 5th Jan 18, 1:50 PM
    • 544 Posts
    • 886 Thanks
    IanManc
    I can understand why you wouldn't want to tell us, but I'd love to know who Bank A are. They've put you through a lot of stress because they've made a mistake and the situation shouldn't have been your problem once you had drawn their attention to it.

    The basic point is that they've sent your money to the wrong person and they should have reimbursed you immediately. Any recovery action after that really needn't have concerned you. It's just appalling.
    • pmduk
    • By pmduk 5th Jan 18, 1:58 PM
    • 8,537 Posts
    • 6,316 Thanks
    pmduk
    OP if you want to put pressure on, casually slip into the conversation that there are many financial journalists that love stories like this, but only if you're prepared to go through with telling a journalist.
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