closing tag is in template navbar
timefactors watches



TZ-UK Fundraiser
Results 1 to 32 of 32

Thread: The ££Windfall that wasn't ... due to Barclays Bank £110,000 cock-up

  1. #1
    Grand Master sundial's Avatar
    Join Date
    Jul 2003
    Location
    Cambridgeshire
    Posts
    15,834

    The ££Windfall that wasn't ... due to Barclays Bank £110,000 cock-up

    The ££windfall that wasn't ... due to Barclays Bank £110,000 cock-up ... https://www.greatyarmouthmercury.co....-money-8481270
    "Well they would say that ... wouldn't they!"

  2. #2
    Master M1011's Avatar
    Join Date
    Jun 2020
    Location
    London, England
    Posts
    3,223
    Interesting story. Of course disappointing for the chap, but I do think he comes across a little entitled in the comments he makes...

    "but I'll need to work now to earn the money and it will take years."
    “Barclays have stolen my future plans and left me living like a stowaway."

    It was not his money to begin with! Plus presumably he knew very well this wasn't inheritance from his mother.

    Not sure why the bank is getting the blame either, his former business associate sent him the money in error, multiple times over a period of months. So really that guy should be the one getting a hard time over this for sheer negligence. The transfer was legitimate just made to the wrong account in error, how exactly is a bank meant to know if someone makes that mistake until the sender reported it? Magic?

  3. #3

    The ££Windfall that wasn't ... due to Barclays Bank £110,000 cock-up

    Regardless of the fact he was told to spend the money I would have been bombarding the bank with questions and not holding or had plans for the money. Clearly an idiot


    Sent from my iPhone using Tapatalk
    Last edited by Franky Four Fingers; 12th November 2021 at 07:22.

  4. #4
    Grand Master wileeeeeey's Avatar
    Join Date
    Jan 2017
    Location
    N/A
    Posts
    19,007
    What an idiot. First payment in Dec then he buys a dump in June and wants compensation for his loss.

    Anyone else would have went into the bank to speak to the manager and put the money in a completely separate account, knowing it isn’t theirs and not spent a penny waiting for it to be claimed back.

  5. #5
    Master murkeywaters's Avatar
    Join Date
    May 2013
    Location
    Near the sea
    Posts
    7,122
    He should have just pumped the lot into Bitcoin or if he had the balls Shibu Inu!!

  6. #6
    Master jukeboxs's Avatar
    Join Date
    Apr 2009
    Location
    Scotland
    Posts
    5,448
    No sympathy from me either - he knew it wasn't his money yet continued to spend it, and he didn't perform all due diligence in tracking the rightful owner.

    Why bother starting this thread OP?

  7. #7
    Craftsman Russ's Avatar
    Join Date
    Jun 2006
    Location
    Manchester
    Posts
    830
    Quote Originally Posted by wileeeeeey View Post
    What an idiot. First payment in Dec then he buys a dump in June and wants compensation for his loss.

    Anyone else would have went into the bank to speak to the manager and put the money in a completely separate account, knowing it isn’t theirs and not spent a penny waiting for it to be claimed back.
    Yes, either dumb or playing dumb.

  8. #8
    Master village's Avatar
    Join Date
    Feb 2009
    Location
    Any further south and i would have wet feet
    Posts
    9,959
    Hmmm….lots of money mysteriously appearing in his bank account for no reason and he reckons it was common sense to just spend it.

    What a knob.

    And how on earth can you blame the bank for the transfers?

  9. #9
    Grand Master GraniteQuarry's Avatar
    Join Date
    Jun 2005
    Location
    Aberdeen, UK
    Posts
    27,868
    He should’ve bought Doge!

  10. #10
    Craftsman
    Join Date
    Oct 2020
    Location
    UK
    Posts
    695
    I don’t think he is blaming the bank for the transfers, but for telling him it was OK to spend it. However, we can’t tell how nuanced or categorical the bank was when they told him that. Probably he heard what he wanted to hear and did not want to question it too closely. Also he seems to assume that if he had already spent the money then he would be in the clear, but I think the bank would still have gone after him for it, and he would be in an even worst situation.

  11. #11
    Master draftsmann's Avatar
    Join Date
    Oct 2015
    Location
    Malta and sometimes bits of Brit
    Posts
    5,043
    The man’s an idiot. He’s lucky he’s not been charged with theft. The fact that he went off to the papers bleating about it is a sad indictment on modern society.

  12. #12
    Master M1011's Avatar
    Join Date
    Jun 2020
    Location
    London, England
    Posts
    3,223
    On reflection, two interesting questions to consider...

    (1) The person sending the money was a known business associate, would it not have been clear from the name on the transfer what was going on to the recipient? Surely that's the first question you ask?

    (2) There's no suspect fraud here. If you're willingly send your money to someone else, by your own error, are you always protected like this? Does this mean if someone bank transfers me for a watch then turns around 6 months later and says they want their money back to their banking provider, they can just take it from my account?

  13. #13
    Master
    Join Date
    Mar 2009
    Location
    North Wilts
    Posts
    1,626
    I'm amazed it can just be withdrawn without consent. I was under the impression that if you erroneously transfer funds, electronically, to the wrong account the best the bank can do is ask for it back. If you don't consent there it stays.
    Hence all the checks about scam requests on your online banking.
    Th fact that it was just withdrawn raises more questions than it answers.

  14. #14
    Craftsman
    Join Date
    Oct 2012
    Location
    Malta
    Posts
    867
    The payment was accompanied by a statement “last of mum’s” and the bank told him it was an inheritance.

    Has it been reported if his Mum is still alive? If she is then I’m pretty certain that should have been enough of a giveaway. If she isn’t was it recent, or some time ago? Was he expecting an inheritance? So many questions that would have made it clear to him the money definitely wasn’t his to spend.

    As the poster above says, he probably asked a few questions, got the answers he wanted and didn’t pursue it any further.

  15. #15

    The ££Windfall that wasn't ... due to Barclays Bank £110,000 cock-up

    No-one comes out of this with any credit.

    The idiot repeatedly paying the money, the incompetent bank or the recipient.

    At the very least the recipient should be given a decent time and a suitable arrangement made to pay back the cash.

    It’s a pity banks aren’t so quick to claim back money when there has been a genuine scam. Doesn’t sit right that they can just grab it back in this case, we are always told that these transactions can’t be reversed.
    Last edited by Kingstepper; 13th November 2021 at 07:01.

  16. #16
    Craftsman
    Join Date
    Oct 2012
    Location
    Malta
    Posts
    867
    Quote Originally Posted by Kingstepper View Post
    No-one comes out of this with any credit.

    The idiot repeatedly paying the money, the incompetent bank or the recipient.

    At the very least the recipient should be given a decent time and a suitable arrangement made to pay back the cash.

    It’s a pity banks aren’t so quick to claim back money when there has been a genuine scam. Doesn’t sit right that they can just grab it back in this case, we are always told that these transactions can’t be reversed.
    The money was still in his bank. He’d set it aside to renovate his new house.

  17. #17
    Craftsman dustybottoms's Avatar
    Join Date
    Nov 2010
    Location
    North West
    Posts
    947
    The bloke receiving the funds in error sounds a little sketchy at best, I feel he knew exactly what was what, and what he was doing. Perhaps he was hoping all along for a compensation claim once all was uncovered or maybe he was hoping it would go unnoticed.

    The person at the bank who said he should keep and spend the funds sounds like a liability, other reports on this story on the net also say that the recipient spoke with an accountant who said the same. So both are perhaps a liability and daft, or more likely the recipient of the funds asked the question in a certain way to get an answer that he wanted to hear to support defending any later decisions / actions he may take.

    The bank claiming back £6000 more than they should in error, is embarrassing, careless and avoidable.


    Posters mentioning concerns of transactions being reversed or money taken back without consent are not referring to law but commenting on a dramatised news article.

    The online transactions haven't been reversed, a case of error has been raised, investigated and the money has been returned to the rightful owner.

    Once a case has been opened and investigated and an error proven, then the recipient is notified of the error, if the recipient doesn't dispute that the money was sent to them by mistake or doesn't reply, then the funds will be returned to the rightful owner within 20 working days. The situation and outcome is very different if the recipient has spent the funds.


    Legally you cannot keep or spend the funds if you know the credit has been made incorrectly.

    To have spent the funds knowing they were not his would have been a criminal offence "Theft Act 1968". He very wisely did not spend the funds, choosing to keep these funds separate from his own money.

    Legally the recipient must take all measures to cancel the transaction, there are several reports on the net reporting that he immediately noticed an unexpected large sum of money going in to his account but, contacted the bank only after receiving further unexpected large transactions over a period of months. Had he contacted the bank when he received the first unexpected payment, the bank could have taken action to stop any further payments being made in error.

    Likewise, had he contacted the payer himself (a person he appears to know) he could have helped cancel any further erroneous transactions taking place and resolved the matter directly, he could even have transferred the funds received in error directly back to the person but, there is no mention of him doing either of those things, suggesting he did not take all measures to cancel the transaction(s).

    Like I say, a little sketchy at best.
    Last edited by dustybottoms; 13th November 2021 at 09:27.

  18. #18
    Quote Originally Posted by GMC41 View Post
    The money was still in his bank. He’d set it aside to renovate his new house.
    Maybe was effectively spent and owed to tradesmen or whoever. The bank shouldn't just take it (and £6000 extra of his own money to boot).

  19. #19
    Grand Master Dave+63's Avatar
    Join Date
    Jun 2012
    Location
    East Sussex
    Posts
    15,916
    Quote Originally Posted by dustybottoms View Post
    Legally the recipient must take all measures to cancel the transaction, there are several reports on the net reporting that he immediately noticed an unexpected large sum of money going in to his account but, contacted the bank only after receiving further unexpected large transactions over a period of months. Had he contacted the bank when he received the first unexpected payment, the bank could have taken action to stop any further payments being made in error.

    Likewise, had he contacted the payee himself (a person he appears to know) he could have helped cancel any further erroneous transactions taking place and resolved the matter directly, he could even have transferred the funds received in error directly back to the person but, there is no mention of him doing either of those things, suggesting he did not take all measures to cancel the transaction(s).

    Like I say, a little sketchy at best.
    According to the article, he received the first payment on 29th December and contacted the bank twice in December. He didn’t receive a further payment until mid January so your first point above is incorrect.

    Whilst he may have been able to contact the payee directly (by no means certain), he probably didn’t know the bank details to return the money to. The payer bank details aren’t provided for personal bank transfers.

    I had an occasion when a customer’s account was hacked, cash paid to my account and contacted by the scammer who claimed to be the customer and gave me an account number to pay it back to. I had no reason to believe that the account number was a different one from that which the money was paid from, it was only my suspicion which made me contact my customer and find out that it was a scam.

    Having said all that, he knew that it wasn’t his money and that he had no right to keep it. If he has (mentally) spent it on his house already is his problem.

    You have to wonder about the payer of the money and why there was no communication with the correct payee, which would have highlighted the problem almost immediately.

    The bank in this situation, had no involvement until the money was returned, at which time, they handled things pretty badly.

  20. #20
    Grand Master AlphaOmega's Avatar
    Join Date
    Jun 2009
    Location
    Trinovantum
    Posts
    11,313
    Let's say you buy a Mini. They send you a Bentley. You phone up the dealer and ask them to check their records. The front desk says there is no mistake. They call you back to confirm that your name is on the invoice. But you know the truth as you aren't expecting the Bentley. It's not yours. You know there has been a mistake somewhere.

    Do you insist that the dealer principal checks if the addresses have been mixed up with another customer or do you sell the Bentley and live it up then complain to the press when things go pear?

  21. #21
    Craftsman
    Join Date
    Oct 2012
    Location
    Malta
    Posts
    867
    Quote Originally Posted by Kingstepper View Post
    Maybe was effectively spent and owed to tradesmen or whoever. The bank shouldn't just take it (and £6000 extra of his own money to boot).
    The £6k was clearly a clock up by the bank and for that aspect they were in the wrong. As for the rest being effectively spent, I don’t suppose that matters. There’s an individual who has lost a significant sum of money due to a transfer gone wrong and the money is still sat where it was sent. They had every right to return it to the correct owner.

  22. #22
    Quote Originally Posted by GMC41 View Post
    The money was still in his bank. He’d set it aside to renovate his new house.


    And that's the fact that says to me he knew it wasn't his and shouldn't spend it but it was worth trying to hold on to.

    The sad back story is just that as far as I'm concerned, a story.

  23. #23
    Craftsman
    Join Date
    Oct 2012
    Location
    Malta
    Posts
    867
    Quote Originally Posted by kace View Post
    And that's the fact that says to me he knew it wasn't his and shouldn't spend it but it was worth trying to hold on to.

    The sad back story is just that as far as I'm concerned, a story.
    Exactly.

  24. #24
    Quote Originally Posted by GMC41 View Post
    The £6k was clearly a clock up by the bank and for that aspect they were in the wrong. As for the rest being effectively spent, I don’t suppose that matters. There’s an individual who has lost a significant sum of money due to a transfer gone wrong and the money is still sat where it was sent. They had every right to return it to the correct owner.
    That someone has lost a significant amount of money is due to their own stupidity, not the subject of this story.

    Yes, should be returned but IMO the bank should show some sympathy, take the initial hit and allow payment over a reasonable timescale.

  25. #25
    Craftsman
    Join Date
    Oct 2012
    Location
    Malta
    Posts
    867
    Quote Originally Posted by Kingstepper View Post
    That someone has lost a significant amount of money is due to their own stupidity, not the subject of this story.

    Yes, should be returned but IMO the bank should show some sympathy, take the initial hit and allow payment over a reasonable timescale.
    Why? It was still there. I could understand if he’d spent some/all of it and he had an obligation to pay for back. Not if it’s still there though.
    Last edited by GMC41; 13th November 2021 at 13:52.

  26. #26
    Craftsman dustybottoms's Avatar
    Join Date
    Nov 2010
    Location
    North West
    Posts
    947
    Quote Originally Posted by Dave+63 View Post
    According to the article, he received the first payment on 29th December and contacted the bank twice in December. He didn’t receive a further payment until mid January so your first point above is incorrect.

    Whilst he may have been able to contact the payee directly (by no means certain), he probably didn’t know the bank details to return the money to. The payer bank details aren’t provided for personal bank transfers.

    I had an occasion when a customer’s account was hacked, cash paid to my account and contacted by the scammer who claimed to be the customer and gave me an account number to pay it back to. I had no reason to believe that the account number was a different one from that which the money was paid from, it was only my suspicion which made me contact my customer and find out that it was a scam.

    My first point is not incorrect. I made no reference to the linked article and the timeline they reported (you did that), nor did I dispute the linked article.

    I wrote that there are several other reports on the net reporting a differing narrative, that he immediately noticed an unexpected large sum of money going in to his account but, contacted the bank only after receiving further unexpected large transactions over a period of months. None of us know the timeline of events as fact

    I also made no reference as to how simple it is for him to contact a payer, or that bank details are provided as part of personal bank transfers. I said, had he contacted the payer himself (a person he appears to know) he could have helped cancel any further erroneous transactions taking place and resolved the matter directly, he could even have transferred the funds received in error directly back to the person.

  27. #27
    Master
    Join Date
    Mar 2006
    Location
    Borrowash
    Posts
    6,563
    Blog Entries
    1
    Wonder what the OP thinks, and why he posts stuff like this?

  28. #28
    Master
    Join Date
    Apr 2012
    Location
    Warwickshire
    Posts
    2,305
    Quote Originally Posted by M1011 View Post
    Interesting story. Of course disappointing for the chap, but I do think he comes across a little entitled in the comments he makes...

    "but I'll need to work now to earn the money and it will take years."
    “Barclays have stolen my future plans and left me living like a stowaway."

    It was not his money to begin with! Plus presumably he knew very well this wasn't inheritance from his mother.

    Not sure why the bank is getting the blame either, his former business associate sent him the money in error, multiple times over a period of months. So really that guy should be the one getting a hard time over this for sheer negligence. The transfer was legitimate just made to the wrong account in error, how exactly is a bank meant to know if someone makes that mistake until the sender reported it? Magic?
    I absolutely agree with this.

  29. #29
    Master blackal's Avatar
    Join Date
    Mar 2012
    Location
    Scottish Borders
    Posts
    9,538
    Quote Originally Posted by M1011 View Post
    Interesting story. Of course disappointing for the chap, but I do think he comes across a little entitled in the comments he makes...

    "but I'll need to work now to earn the money and it will take years."
    “Barclays have stolen my future plans and left me living like a stowaway."

    It was not his money to begin with! Plus presumably he knew very well this wasn't inheritance from his mother.

    Not sure why the bank is getting the blame either, his former business associate sent him the money in error, multiple times over a period of months. So really that guy should be the one getting a hard time over this for sheer negligence. The transfer was legitimate just made to the wrong account in error, how exactly is a bank meant to know if someone makes that mistake until the sender reported it? Magic?
    I wonder why the owner of the money took so long to discover the error (I thought he was a customer of a business Mr Gullible worked for?)

    I wonder if the ‘owner’ was in fact the owner and not a sibling who had control over their mother’s finances, (or her estate)?

  30. #30
    Craftsman
    Join Date
    Dec 2015
    Location
    Devon, UK
    Posts
    354
    If only there was a thing such as equity to deal with a problem like this?? I mean if you did no more than Google the problem you would know you would need to return the money. It is dishonest, so I’m not sure why you would go to the papers to publicise this.


    Sent from my iPhone using TZ-UK mobile app

  31. #31
    Master blackal's Avatar
    Join Date
    Mar 2012
    Location
    Scottish Borders
    Posts
    9,538
    Looks like someone has made a bit of an error here, too………


    https://www.theguardian.com/money/20...n-cash-revenue

    A woman who woke up to find more than three-quarters of a million pounds had been deposited in her bank account by HMRC has described how she spent a year waiting for it to realise its mistake and reclaim the money and worrying about what would happen when it did.
    In August 2020, Helen Peters*, a self-employed mother of a five-year-old, looked at her bank statement and found that instead of being mildly overdrawn, a £774,839.39 Bacs payment from the Revenue had sent her account very much into the black.
    Peters said the experience was “amazing, incredible, bizarre” but that it quickly became “a nightmare.”
    “It was like something out of a Hollywood film, and after I had got over the shock I just assumed that someone would realise that they had made a huge mistake, and that they would swiftly take the money back. But no one did, and the money just sat in my account,” she said.

    (But she also dipped into it - to the tune of £20k)

  32. #32
    Many years ago I went to my local bank (TSB) to use the hole in the wall for some cash hoping there was enough in the account to get what I wanted :) and much to my surprise I had a balance of £11,000 plus which back in the 80s was to me a lot of money, still a fair amount now.

    The next day at lunch time I nipped to the bank to tell them, they checked it out and sorted it and gave me a nice TSB pen and credit card holder for my honesty and for letting them know, happy days.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Do Not Sell My Personal Information