My money is missing

[dg211262]

Hi everyone

 

This is my first time here because I am looking for some advice on an ongoing problem I have. On the 17/07 my bank carried out a transaction on my behalf but as it was an International payment it had to go through correspondent banks to reach my account. My bank actually put the wrong IBAN number down so on the 24/07 they sent a correction notice but the money still didn't appear in my account. On the 03/08 they sent a recall notice and guess what...my funds still haven't been applied.

 

I have closed the account where the funds were originally supposed to go so I thought that the recall notice would simply take effect but boy has that been a mistake because still no money.

 

Now since the 17/07 quite a bit of my money has 'gone missing' and although my bank where it went from have tried their hardest to recall the funds, the bank where it was going to, The Abbey, are not trying to solve the problem and are not interested in resolving the issue so I am still a considerable amount missing.

 

Any ideas on what I should do to try and get somewhere with this problem would be very much appreciated as I am at my wits end with this.

[Guest NATTIE]

Where were the funds transferred from? Your bank may well be able to ask for the money to be sent back but you would incur a charge for them to return them to your account(transfer fee). Have the funds been applied to someone else's account? If not then they should be sitting in an internal account. The bank where the funds have been sent from should have an identification number that the bank should be able to trace where the funds are.

[dg211262]

The bank that transferred the money have been great but due to the fact that it was a foreign transfer, correspondent banks were used as at the time the Abbey were having problems with their systems.

 

All banks involved apart from the Abbey have been really helpful but they are a nightmare to try and get information from and they just keep saying that as it is an incoming payment they can't chase it up even though I have given them the details.

 

If the funds were applied to a different account then someone has made a big mistake because even though the IBAN number was incorrect initially they aren't supposed to apply funds unless the IBAN number and account name match.

 

The bank that transferred the funds waived the fees for the transaction and aren't charging me to recall the funds but their hands are tied. I have spoken to numerous people without any success.

 

I even spoke to the police and they told me that as the funds were 'just a set of numbers' and that I hadn't actually had the cash in my hands and had it taken from me personally it wasn't theft or fraud.

 

Quite simply there just doesn't seem anywhere to go and the Abbey appear to know this.

[Guest NATTIE]

Was this sent from abroad to the UK or vice versa? Sorry if this appears repetitive but trying to understand everything.

[dg211262]

From abroad to the UK

[Guest NATTIE]

who was the corresponding bank?

[dg211262]

My bank used Deutsche bank London and the Abbey used Citibank. I have tried in vain to send Abbey copies of the faxes that show all of the transaction numbers and confirmations but Abbey just keep giving me the speil that they cannot trace incoming payments. They won't even speak to Citibank and are not responding to their requests.

[Guest NATTIE]

The bit about they cannot trace incoming payments is rubbish. When ot went to Deutsche, did they forward this one by CHAPS? If they did and the details were wrong then then they should look at their CHAPS internal account and be able to trace it

[dg211262]

Right..I if am reading this correctly what you are saying is that as long as the funds were received by Deutsche bank then all of the transactions no matter how many banks were involved would be within the UK, by Chaps, and therefore traceable by any of the parties involved.

[ddvmor]

The funds absolutely have to be traceable under the various maoney laundering regulations. If the Abbey are admitting that they are unable to trace payments such as this, then they're admitting non-compliance with the regs.