Missing money after International Transfer

clonmacart

Hi currently in Oz on WHV..& to cut a long story short in April I sent cash from my Oz a/c (WestPac) to my BoI a/c. Unfortunately througha combination of being given the wrong Iban when setting up my 365 & my mistake in not double checking it the money never reached my BoI a/c. All the info for the transfer was correct except my Iban. WestPac say the cash should have been sent back 'flagged' by BoI within a week. Numerous phone calls to 365 have got me the same response: "we'll look into it" and then no response. I was wondering if any forum members have experienced the same or have a course of action that will help me take this to a higher authority.
Cheers

Bank of Ireland: Laura

Hi clonmacart.

Thanks for your query.

When the IBAN number is entered incorrectly and comes through to ourselves from another bank, we return the funds to the sourcing bank.

As these funds were coming from WestPac, it generally takes 3 - 5 working days for the funds to reach us. If the IBAN is incorrect, the funds are then returned to that bank within the same timeframe.

As this matter has still not been resolved, you will need to contact WestPac who will trace these funds for you.

Hope this helps.
Laura

clonmacart

Hi Laura thanks for the quick reply. I've aready had WestPac look into it from this end and they say nothings been flagged back to them & they are adamant that the money is still on 'the BoI side'.
Thanks again

Bank of Ireland: Tara

Hi clonmacart,

Bank of Ireland: Laura wrote: »

As this matter has still not been resolved, you will need to contact WestPac who will trace these funds for you.

As Laura previously posted, as the funds have not returned to WestPac, they will need to place a trace on these funds for you.

Thanks,
Tara

Tow

Bank of Ireland: Tara wrote: »

As Laura previously posted, as the funds have not returned to WestPac, they will need to place a trace on these funds for you.

Hello Tara,

I have to say your reply looks exactly as if you have taken it out of the BOI script book, without reading the OP's message. Your must remember that replies in Boards are public messages which will be read by thousands.

At this point in time UB is currently in a state of meltdown with millions of missing payments, doubled transactions, account balances which jump/down each night and that’s not counting the fines for failed payments their customers are receiving.

That equates to 1.5 million customers who are looking around to change banks, and as the public face of BOI you should be doing your upmost best to help your customers.


As a 3rd party, I know it is not for me to interfere in how BOI's does its business, but your response to the OP was unacceptable. If you read the OPs post you will see that WastPac have traced the payment to BOI, and this is where it sits. It is not as if WestPac has access to BOIs internal systems to further locate/return it. At his point it is up to BOI to get the OP’s details, liaise with Westpac to trace the money.

Bank of Ireland: Tara

Hi,

Apologies if my response was not adequate.

As clonmacart mentioned in his earlier post, WestPac have not had the funds automatically rejected/flagged back to them from Bank of Ireland. When this happens, it is the sending bank, in this case WestPac, who must initiate a trace with the receiving bank. From what was said in the earlier posts, it doesn't appear that they have traced the payment but are waiting for the funds to be automatically returned to them. After WestPac initiate a trace, both banks would then liaise with each other to resolve the issue.

If the funds had been originally transferred from Bank of Ireland to WestPac, then we would need to initiate a trace from our side.

We understand this type of situation can be very frustrating. I hope this helps.

Thanks
Tara