Bank transfer issue
Discussion
Long story short (ish)
My Mum has transferred a chunk of inheritance to her brother in Australia using HSBC. It seems between Mum and her brother the account number has become 'confused' and the money has gone AWOL.
The bank in Australia it arrived at has now returned it to the HSBC over here but HSBC want over £6000 in fees that I can only assume are down to the difference between buying and selling prices on over £250k as it's arrived back here in AU$
Covid means it is VERY difficult to talk to anyone either over the phone or in branch, and we can't find any contact details to speak to someone a level above the tellers who just don't have access to the information required. Mum and Dad are in their 80's and ill-equipped to deal with this level of complexity, but the bank won't deal with anyone else.
Any advice ?
My Mum has transferred a chunk of inheritance to her brother in Australia using HSBC. It seems between Mum and her brother the account number has become 'confused' and the money has gone AWOL.
The bank in Australia it arrived at has now returned it to the HSBC over here but HSBC want over £6000 in fees that I can only assume are down to the difference between buying and selling prices on over £250k as it's arrived back here in AU$
Covid means it is VERY difficult to talk to anyone either over the phone or in branch, and we can't find any contact details to speak to someone a level above the tellers who just don't have access to the information required. Mum and Dad are in their 80's and ill-equipped to deal with this level of complexity, but the bank won't deal with anyone else.
Any advice ?
It's a tricky one. Ideally you'll establish from HSBC (now the funds are back in the UK) whether the AUD has yet been converted back to GBP as the way you've phrased them "wanting" £6K it is not clear whether they have or haven't now converted the funds.
This shouldn't yet have happened as the amount is large *and* is a returned payment (as opposed to someone in Australia having just sent the AUD to the UK bank account) so ideally they'll be holding on to it as AUD until they receive instruction to try again with the correct AUD beneficiary details.
Good luck and let us know how it goes.
This shouldn't yet have happened as the amount is large *and* is a returned payment (as opposed to someone in Australia having just sent the AUD to the UK bank account) so ideally they'll be holding on to it as AUD until they receive instruction to try again with the correct AUD beneficiary details.
Good luck and let us know how it goes.
The information was coming to me via two very stressed parents, so details may not entirely accurate.
But ... everything seems to have come to an abrupt and happy conclusion.
The complaints department have come back to them after a (very quick) investigation and it seems procedure wasn't followed when they sent the money and one of the important numbers was missing a digit. Funds have been returned at no cost and a small payment made for the inconvenience.
So when they first told my parents that 'one of the numbers was incorrect' it was one of their numbers and not the sort code/acc no.
Thanks for your input MisanoPayments, much appreciated.
But ... everything seems to have come to an abrupt and happy conclusion.
The complaints department have come back to them after a (very quick) investigation and it seems procedure wasn't followed when they sent the money and one of the important numbers was missing a digit. Funds have been returned at no cost and a small payment made for the inconvenience.
So when they first told my parents that 'one of the numbers was incorrect' it was one of their numbers and not the sort code/acc no.
Thanks for your input MisanoPayments, much appreciated.
Cool Mart said:
Funds have been returned at no cost and a small payment made for the inconvenience.
Great news. One point for HSBS after all then 
2 sMoKiN bArReLs said:
One tip (maybe) for next time? If reasonable sums are involved I usually send a small amount first & ask recipient to confirm receipt. That way I can be sure the large amount is sent stress free.
Indeed. I almost suggested that earlier but it was rather 'horse bolted/stable door'.Simpo Two said:
Cool Mart said:
Funds have been returned at no cost and a small payment made for the inconvenience.
Great news. One point for HSBS after all then 2 sMoKiN bArReLs said:
One tip (maybe) for next time? If reasonable sums are involved I usually send a small amount first & ask recipient to confirm receipt. That way I can be sure the large amount is sent stress free.
Indeed. I almost suggested that earlier but it was rather 'horse bolted/stable door'.
Horse still eating hay behind the door.Gassing Station | Finance | Top of Page | What's New | My Stuff