Dispute with bank
Discussion
My old Dad, top bloke he is, has fallen out with his bank - let's just say that this particular bank pride themselves on being 'local' worldwide!
This is the story:
1) He sees a property he wants to buy in The USA.
2) He makes an offer and it's accepted.
3) He needs to send a down payment of about £80k and tells the bank this.
4) He goes to the bank and they ask him a bunch of questions, which he answers in full.
5) The recipient never receives the money, but the money has gone from his bank account.
6) A week later the money is wired back to him because there was not enough info to complete the transaction.
7) The amount sent back was £800 less due to currency changes.
8) He asks the bank to pay him the £800 because it was the bank's cock-up - he simply answered the questions they asked him.
9) The bank has refused.
Now my father has been a client of this bank for 51 years and has a lot of cash on deposit. As such, he threatened to change to another bank if they don't play ball. However, even with this threat they are refusing to credit him the cash. Madness!
So, what would should he do to get the monies refunded?
This is the story:
1) He sees a property he wants to buy in The USA.
2) He makes an offer and it's accepted.
3) He needs to send a down payment of about £80k and tells the bank this.
4) He goes to the bank and they ask him a bunch of questions, which he answers in full.
5) The recipient never receives the money, but the money has gone from his bank account.
6) A week later the money is wired back to him because there was not enough info to complete the transaction.
7) The amount sent back was £800 less due to currency changes.
8) He asks the bank to pay him the £800 because it was the bank's cock-up - he simply answered the questions they asked him.
9) The bank has refused.
Now my father has been a client of this bank for 51 years and has a lot of cash on deposit. As such, he threatened to change to another bank if they don't play ball. However, even with this threat they are refusing to credit him the cash. Madness!
So, what would should he do to get the monies refunded?
No idea sorry as the banking world is something I know nothing about. However, someone has to pay for their bonus payments!
I wonder if the rates had changed in your Dad's favour they would have paid a sum greater than the orginal amount to him?
It seems like one of the many things in life to make your piss boil. I hope he gets it back. Good luck.
I wonder if the rates had changed in your Dad's favour they would have paid a sum greater than the orginal amount to him?
It seems like one of the many things in life to make your piss boil. I hope he gets it back. Good luck.
Working for a financial company, I have dealt with such query on a regular basis ....
If you make a transaction in a foreign currency and are then refunded, my comapny certainly refund the difference with no questions asked, however, I am under the impression that this is a good will gesture offered by 'my' company but I would certainly look into this further.
Who's fault is it that the transaction could not be completed? Certainly, as such a long standing customer, he should speak to his personal banker/relationship manager regarding this as I'm sure they would certainly refund the difference.
I hope this all works out for your father; loyal customers such as your father should certainly not be experienceing such difficulties.
If you make a transaction in a foreign currency and are then refunded, my comapny certainly refund the difference with no questions asked, however, I am under the impression that this is a good will gesture offered by 'my' company but I would certainly look into this further.
Who's fault is it that the transaction could not be completed? Certainly, as such a long standing customer, he should speak to his personal banker/relationship manager regarding this as I'm sure they would certainly refund the difference.
I hope this all works out for your father; loyal customers such as your father should certainly not be experienceing such difficulties.
What a pisser.
Good luck speaking to anybody with brains in that bank, I've been trying for three years with little success.
I think their company brain cell is normally being used in the far-east, you've got no chance of getting any sense out of a UK branch.
Move banks, vote with your feet (or cash, in this instance).
Oh, and in future, NEVER make currency payments via the bank, especially large amounts!
They'll absolutely rip you off on currency, it's a huge money-maker for them.
Use a specialist. I use purefx.co.uk weekly, but there are numerous others out there that can give much better deals than banks for currency too.
Good luck speaking to anybody with brains in that bank, I've been trying for three years with little success.
I think their company brain cell is normally being used in the far-east, you've got no chance of getting any sense out of a UK branch.
Move banks, vote with your feet (or cash, in this instance).
Oh, and in future, NEVER make currency payments via the bank, especially large amounts!
They'll absolutely rip you off on currency, it's a huge money-maker for them.
Use a specialist. I use purefx.co.uk weekly, but there are numerous others out there that can give much better deals than banks for currency too.
Sadly odds are there is nothing he can do. Banks in the uk in general are fing useless and stupid. I decided this after being turned down for a savings account. I appealed and sent them a statement of the savings account i wished to transfer which had a huge sum of money in it and they still declined to give me an account.
Hence they are clearly dumb as s
t.
Hence they are clearly dumb as s
t.I hate banks, i recently paid a cheque in on a saturday, the bint behind the counter had a rant at me that saturday isn't a banking day, i asked for a mini statement to see why i was overdrawn. They had taken out my standing orders for the following monday and were dated with mondays date! I will be writing to barclays to congratulate them on being the first to time travel and charging me quite a few wine tokens for it.
srebbe64 said:
My old Dad, top bloke he is, has fallen out with his bank - let's just say that this particular bank pride themselves on being 'local' worldwide!
This is the story:
1) He sees a property he wants to buy in The USA.
2) He makes an offer and it's accepted.
3) He needs to send a down payment of about £80k and tells the bank this.
4) He goes to the bank and they ask him a bunch of questions, which he answers in full.
5) The recipient never receives the money, but the money has gone from his bank account.
6) A week later the money is wired back to him because there was not enough info to complete the transaction.
7) The amount sent back was £800 less due to currency changes.
8) He asks the bank to pay him the £800 because it was the bank's cock-up - he simply answered the questions they asked him.
9) The bank has refused.
Now my father has been a client of this bank for 51 years and has a lot of cash on deposit. As such, he threatened to change to another bank if they don't play ball. However, even with this threat they are refusing to credit him the cash. Madness!
So, what would should he do to get the monies refunded?
YHMThis is the story:
1) He sees a property he wants to buy in The USA.
2) He makes an offer and it's accepted.
3) He needs to send a down payment of about £80k and tells the bank this.
4) He goes to the bank and they ask him a bunch of questions, which he answers in full.
5) The recipient never receives the money, but the money has gone from his bank account.
6) A week later the money is wired back to him because there was not enough info to complete the transaction.
7) The amount sent back was £800 less due to currency changes.
8) He asks the bank to pay him the £800 because it was the bank's cock-up - he simply answered the questions they asked him.
9) The bank has refused.
Now my father has been a client of this bank for 51 years and has a lot of cash on deposit. As such, he threatened to change to another bank if they don't play ball. However, even with this threat they are refusing to credit him the cash. Madness!
So, what would should he do to get the monies refunded?
Rach* said:
I hate banks, i recently paid a cheque in on a saturday, the bint behind the counter had a rant at me that saturday isn't a banking day, i asked for a mini statement to see why i was overdrawn. They had taken out my standing orders for the following monday and were dated with mondays date! I will be writing to barclays to congratulate them on being the first to time travel and charging me quite a few wine tokens for it.
Sympathy for the Thread OP, but this is just your fault for not managing your finances. How is that the banks fault?rich1231 said:
Rach* said:
I hate banks, i recently paid a cheque in on a saturday, the bint behind the counter had a rant at me that saturday isn't a banking day, i asked for a mini statement to see why i was overdrawn. They had taken out my standing orders for the following monday and were dated with mondays date! I will be writing to barclays to congratulate them on being the first to time travel and charging me quite a few wine tokens for it.
Sympathy for the Thread OP, but this is just your fault for not managing your finances. How is that the banks fault?spikeyhead said:
rich1231 said:
Rach* said:
I hate banks, i recently paid a cheque in on a saturday, the bint behind the counter had a rant at me that saturday isn't a banking day, i asked for a mini statement to see why i was overdrawn. They had taken out my standing orders for the following monday and were dated with mondays date! I will be writing to barclays to congratulate them on being the first to time travel and charging me quite a few wine tokens for it.
Sympathy for the Thread OP, but this is just your fault for not managing your finances. How is that the banks fault?Rach* said:
spikeyhead said:
rich1231 said:
Rach* said:
I hate banks, i recently paid a cheque in on a saturday, the bint behind the counter had a rant at me that saturday isn't a banking day, i asked for a mini statement to see why i was overdrawn. They had taken out my standing orders for the following monday and were dated with mondays date! I will be writing to barclays to congratulate them on being the first to time travel and charging me quite a few wine tokens for it.
Sympathy for the Thread OP, but this is just your fault for not managing your finances. How is that the banks fault?Seems common sense to me.
steveo3002 said:
theres the ombudsman sevice that deals with the bank when they wont play ball
id suggest a call or letter to them , then once its sorted find a new bank
The Financial Ombudsman Service won't get involved unless it's eight weeks since you first complained or you have already exhausted the bank's complaints system (i.e. have received their final response). Until then, they'll just forward the complaint to the bank and leave them to sort it out. However, that letter/phonecall from the FOS telling the bank about the complaint might be enough to have them settle.id suggest a call or letter to them , then once its sorted find a new bank
530dTPhil said:
Rach* said:
spikeyhead said:
rich1231 said:
Rach* said:
I hate banks, i recently paid a cheque in on a saturday, the bint behind the counter had a rant at me that saturday isn't a banking day, i asked for a mini statement to see why i was overdrawn. They had taken out my standing orders for the following monday and were dated with mondays date! I will be writing to barclays to congratulate them on being the first to time travel and charging me quite a few wine tokens for it.
Sympathy for the Thread OP, but this is just your fault for not managing your finances. How is that the banks fault?Seems common sense to me.
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