banking question

[briggie]

yes i said BANKING lol

sheila gets paid by cheque ... the cheque has her name only on it ok ?

she made a mistake and paid it into a collection account ( same bank on the paying in book ) .

the other account holders have cashed the cheque

my question is ..... can they do that considering it was in sheilas name only ?

cheque issued from a rbs account

our account is a nat west account

the collection account is also a natwest account


help !! because this is sheilas monthly wage and they are charging us for being overdrawn !!!!

 

[briggie]

i called into our bank branch and gave them the details , and they are " investigating " , but they said they dont think they can do anything because the cheque has been cashed ........ is that true ?

 

[jace]

i think watch dog did a thing where they wrote cheques out in michael rodent and they were cashed,dont think anyone much looks at whats on cheque!

 

[briggie]

from the c.a.b advice site

Transactions that have not been carried out correctly
Examples of transactions that have not been carried out correctly are where the amount of money going out of your account is wrong, or the money is sent to the wrong place.

If this happens, you should tell your bank or building society as soon as possible. This should be no later than 13 months after the transaction.

It is up to the bank or building society to show that the transaction was genuine and there was no breakdown in procedures or technical difficulty.

If you've not authorised the transaction, your bank or building society must refund the money immediately. If there is evidence to suggest you acted fraudulently or were negligent, they can delay the refund while they carry out further investigations. However, the investigation must be carried out within a few days.

 

[jace]

im hoping as there in wrong by cashing it theyll let you off the overdraught,havent the other party broken the posted rules by cashing the cheque/using the money (banks problem if its spent!)

 

[briggie]

im hoping as there in wrong by cashing it theyll let you off the overdraught,havent the other party broken the posted rules by cashing the cheque/using the money (banks problem if its spent!)

i patiently await a return call from head office :augie

 

[rustic]

A few years ago, friend of mine was a banker, they rarely check the validity of signatures etc on cheques below a certain value, if they did they would need more staff.

Their policy is bank them as normal and face the consequences if they have dropped a Bo**ock. And they usually cancel any fees etc.

This is a rare occurance so cheaper in the long run to have this policy.
So you should in theory get your fees recovered.

However this was one bank, about 12 years ago, so things could have changed.

But it might help your case if you know they have a contingency plan and a cost code.

Tell them that you made the error, get them on your side, we are all human, but also insist it was also their fault for not checking, and they have some responsibility.

The ultimate ace, is to tell them if you don't get you fees back, you will take your overdraft elsewhere..:thumb2 :lol:lol

Don't loose your temper with them, ask for a private room to discuss it, have all your facts to hand, on 1 piece of paper, dates, places, actions etc.

They have a procedure to deal with this event, but the cashier may not have the authority.

Good luck, I think you will be pleased with the result.
:thumb2

 

[lacroupade]

As a qualified spellchecked ex-banker...

In the old days, cheques were simply crossed "& Co" and could be endorsed by the payee and thus paid into anybodys account. Or endorsed to a specific individual by the payee and paid only into their account.

These days they should all be crossed "A/C payee only" or "Not Negotiable" which means they can only be paid into the payees account.
So technically the bank is at fault for accepting the cheque into an account that was not in the name of the payee - at least thats what I assume because I'm not sure what this 'collection account' business is?

As Rustic rightly says, the days of a bank checking every paid cheque by hand are long gone....it was cheaper to take a few hits than pay loads of staff to do the job.

So I would just point that out to them (depending on the nature of this 'collections' account obviously - if it was in her name then you're stuffed) and see if you can agree to sort things out. They might squirm but the above is self-explanatory even to a f*ckwit banker.:augie

Boring trivia.....a cheque crossed in the old fashioned way ("&Co") and made payable to cash was technically a banknote. Yaaaawwwwn.

 

[briggie]

call from bank ,

they have no record of this cheque , even though i have a paying in slip ( stamped by the bank )

plus .. i have contacted the issuer of the cheque ( sheilas boss ) who said that the money went out of their account 2 days later.

the " collections account " is basically a company allowing us to pay by instalments..... a company

the bank are continuing their " investigations " , but while they faff about , the reality is we dont have sheilas wage to fall back on.

thanks for the replies , its bluddie annoying , when its obviously the bank thats at fault and we dont seem to be able to do anything

 

[clivvy]

im confused.

Shiela paid the money to the bank yes, to her account?? where did the money go to?

 

[clivvy]

how can she mistakenly pay into a "collections" account? whats that?

 

[briggie]

im confused.

Shiela paid the money to the bank yes, to her account?? where did the money go to?

no clive , she accidently paid the cheque into that collection account , and has been cashed by them

 

[clivvy]

but....who are they? i dont understand what this account is, and how she paid the cheque into it.

 

[briggie]

but....who are they? i dont understand what this account is, and how she paid the cheque into it.

this other account is basically a bill paying account by instalments , not our account , it is a companies account,

she paid the cheque into it because the paying in book looked the same as our account paying in book ( both accounts natwest )

 

[clivvy]

oh ok, cant you just contact the bill company, tell them to pay it back?

 

[briggie]

oh ok, cant you just contact the bill company, tell them to pay it back?

tried that ...... they are looking into my request and investigating ...... even though i explained that they had the money fraudulently in my opinion

 

[clivvy]

yeah I wouldnt worry, itll get reversed by the bank.

 

[briggie]

yeah I wouldnt worry, itll get reversed by the bank.

yeah , but meantime ......

 

[clivvy]

looks tasty bread....

 

[rustic]

Gin and tonic looks a bit flat though..:lol