Missing Electronic Payment - UK to Ireland

M

MollyDolly

Guest
An electronic transfer was made from a UK Bank Account (Lloyds) to my Iriah Bank Account (AIB) on 6 July. It was a dollar payment of 4k.

The payment has gone missing somewhere between the two banks with Lloyds claiming that the payment has been traced and it has left their system and AIB claiming that it has not come onto their system. AIB claim to have searched the transaction code and it is not sitting in a holding account.

Both banks are saying the other is responsible for the error and that they can/will do no more for me.

The company who made the payment will not re-issue it as as far as they are concerned it has left their bank account.

I have not got a clue as to where to turn next. I'm missing $4k and neither bank wants or is willing to take responsibility.

Any and all advice is needed.
 
Under the Payment Services Regulation 2009 lloyds Bank is liable to you for the correct excution of a payment instruction, unless thay can prove to you and where necessary, to AIB in this case, that AIB actually received the funds. If Lloyds can prove that AIB received the payment then AIB's becomes liable to you. If Lloyds are liable, in that they cant prove that AIB received the funds, then they should refund the full amount and restore your account to the position it would have been in before you made the payments. Contact Llyods, quote the Payment Services Regulations and ask them for proof that AIB has received the funds. If they provide the proof bring it to AIB and demand your funds.
 
Cashier, happy to help on Boards or in a PM capacity. Could be lots of queries after the UB debacle.
 
Thank you so much for that info. I emailed same to the person dealing with my complaint at the UK end and there appears to be some movement in terms of a least commencing an investigation as to where the money has gone.

Thanks again!
 
Just wanted to update - I'm no closer to a resolution. AIB are being zero help. Documentation sent in to the bank has been lost, calls have not been returned (to me or the uk bank), I've had the same conversation many many times over with them. I'm at my wits end over this by now - I've two young kids and I'm almost out of cash. AIB just dont seem to give a damn, perhaps the amount in question is just too small for them to care?

I guess my next step is the ombudsman?
 
Last edited by a moderator:
I am confused as to how Ulster Bank are nor part of this. Initially it was Lloyds and AIB who were involved in the payment.
 
Sorry - complete brain fart. Had been filling out UB account opening forms just prior to typing that. Heading back to amend. Stress of all this is catching up on me.
 
Ask Lloyds to put a trace on the payment and provide you with a copy if they are convinced they made the payment correctly. They should have a copy of the SWIFT message which banks use to make payments. You can then provide this to AIB.

It sounds like the money was paid to you from a company who had their account at Lloyds. Get the company to contact Lloyds to pressure them into sorting it out. It's very easy for the two banks to sort it out between each other. (Assuming the payment was actually made).
 
MollyDolly
Are you certain that you provided the correct IBAN number and BIC code to the payer, and that they used the correct numbers when completing the payment instruction at Lloyds.
Under the payment services directive, if wrong numbers are provided to the Lloyds and the bank executes a payment based on those numbers, then Lloyds has no further liability
 
The trace will have to be done from the Payers side. They should have ref no's or at least some form of receipt.

You have nothing except proof that the funds haven't reached your account. It really is up to the other side to follow this up and you should put more pressure on the company involved.

As Gulliver says if the IBAN & BIC given were incorrect those funds could well be in someone elses a/c by now. So check out that the correct details were given.
 
As stated by perplexed the only way to get this sorted is to get the Company that owe you the money to start a trace with Lloyds. Their bank will be very happy to provide proof to their customer that the money has been sent to AIB and the details of where it went. You can then use this to put pressure on AIB. I have had people tell me that they have sent money that they owed me and that "it must be lost in the system" only to find out later that they never sent it.
 
You must log in or register to reply here.
Back
Top