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Cheque 'lost' by bank!


Kathy Baguley
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Hi

Please can anyone advise me what I should do?

My husband paid in a cheque on 20/12/07 to our account at a different branch of our bank to where the account is held . Checked balance on 28/12/07 but no cleared funds showing for the cheque. He went into own branch who contacted the branch he had paid it into. They then phoned to say that it must have got lost in their system & that we should contact the issuer & get them to stop it then re-issue it.

I have been to bank today and they will not take any responsibility for it nor will they put theirselves out to find it.

We can ask for the chq to be stopped then re-issued but I don't see why we should have to do this - it's bloomin' embarrassing to have to admit that we NEED the money!

I said to the bank that it was surely their responsibility to take care of their customers money and was just given a less than sympathetic ear.

Our mortgage payment is due on 12th and the account doesn't allow an overdraft so DD would not be paid.

 

Any advice?

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My understanding, if the cheque was paid over the counter, the money will show on the account, although funds can't be withdrawn from that untill cleared, you have a computer generated recipt, showing the cheque deposit, therefore the cheque has been paid into your account, whether the cheque is then lost by the bank, the money should be still credited into your account, personally i would suggest you visit the bank to speak direct to a manager about this.... At the same time, should there still insist the cheque amount won't be credited, seek a authurised over-draft to cover any DDs etc that the cheque was to pay, since its the banks fault the cheque has gone missing.

!2 years Tesco distribution supervisor

7 years Sainsburys Transport Manager

 

4 Years housing officer ( Lettings )

Partner... 23 Years social services depts

 

All advice is given through own opition, also by seeking/searching info on behalf of poster, and own personnel dealings.

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I've had this happen once to me with Natwest - they were really helpful about it, they told me the check had been lost in transit somewhere and that I should request that the cheque issuer re-issue the cheque and as he (my employer) banked with Natwest they would guarantee the money should the cheque ever resurface and be used in a fraudulent transaction. Just before this time and not relating to the lost cheque I had gone overdrawn and was about to be charged a hefty fee but they waived it as a good will gesture and that was without me asking.

 

I'm sure if you go direct to your bank they can help you out in someway in terms of a free overdraft whislt the issue is sorted - they wont howevergive you the money on definate terms as the cheque is lost - how can they cover themselves and how could they present the cheque for payment themselves?

 

Go to your branch ASAP!

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I don't know if this helps but I believe we have a procedure whereby we ask the bank the cheque was coming from if they will accept a photocopy as proof enough of the cheque. There is no guarantee they will agree to do this and then your only option is to get the cheque sent again.

 

I can totally understand your frustration and think speaking to the branch manager is worth a shot.

 

The reasons they might not put an Od on the account are legion, personally I would play on the fact that, through no fault of your own, you seem likely to face some inconvenience.

The views I express here are mere speculation based on my experience. I am not qualified nor insured to give legal advice and any action you take will be at your own risk.

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As said above by Shywazz, you must have a cheque deposit slip. Talk to the manager, show him the slip and ask him to cover this amount until you can get the cheque replaced from the originator.

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What is a little known fact is that branches do not record cheques that are paid in. As a cost cutting exercise, banks withdrew back-office staff at branches. They are now couriered to a central processing point and it is only then that they enter the system.

 

I found this out when the courier was robbed, which meant the bank had no idea of the number or amount of cheques involved, who the payees were or which a/c's they were drawn on, until they were contacted by customers who had paid in cheques on that day.

 

The branch, (in this case, Natwest) arranged an immediate interest free overdraft until the cheques were cancelled and re-issued.

 

I negociated (although through Customer Services, not the branch) that my a/c be credited with the amount, having signed an agreement that the a/c would be debited by the same amount 4 weeks later. They also agreed to pay any stopped cheque fees incurred and £30 compensation

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What is a little known fact is that branches do not record cheques that are paid in.

 

That may be true of Natwest, but LloydsTSB enter the cheque details direct to the recieving account at the counter. You can go immediately to a cashpoint and see the increase in the balance - although not withdraw as the funds aren't cleared.

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Correct Pat the halifax do the same proceedure when paying in cheques or cash.... the figure is shown on the next slip you obtain from any machine...

!2 years Tesco distribution supervisor

7 years Sainsburys Transport Manager

 

4 Years housing officer ( Lettings )

Partner... 23 Years social services depts

 

All advice is given through own opition, also by seeking/searching info on behalf of poster, and own personnel dealings.

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