Questions Of Cash: Confusion over account number delayed money transfer for more than a month

 

Q I invested £21,000 in a two- year fixed-rate bond with the Cheshire Building Society, which matured on 29 September. I returned a form requesting that the balance be paid into my Co-operative Bank current account. I received a letter from the Cheshire confirming this arrangement.

The following day I received a letter saying that it was being reinvested in another two-year bond. I phoned the Cheshire and pointed this out and was assured the balance would be transferred by BACS to my current account.

When I returned from holiday on 31 October, the money was still not in my Co-op account. I emailed the Cheshire and was phoned later the same day and told that the bank account number on the form that I returned was not clear, but it had tried to send the balance to what they thought was my account. This was returned by the bank.

Surely if there was any doubt about the correct account information I should have been contacted for confirmation? The society managed to transfer the interest to the correct account on 3 October. I had intended to use the proceeds to pay-off a loan taken out by my daughter, which as a result of the delay has accumulated an additional £382.50 interest. DF, Crewe.

A. The Cheshire Building Society is now part of the Nationwide Building Society. The Nationwide confirms that the problem relates to a misreading of the account number you provided on the form transferring the proceeds of the bond to your current account with the Co-operative Bank. This led to the transfer to a wrong account being rejected on two occasions, though it has since been successfully transferred. Nationwide accepts that it should have contacted you at an early stage to confirm the account number, which would have avoided the difficulties.

A spokesman for the Nationwide says: "We sincerely apologise for not contacting [the reader] straight away to clarify the account number and for the inconvenience that this situation has caused him. We are also sorry for the poor customer service that he has received in this matter." Nationwide is sending you a cheque for £457.50, representing the additional interest incurred on your daughter's loan, plus a goodwill payment in recognition of the inconvenience that you have suffered.

Q. I am a director of a small business and have been for 40 years. Our van insurance is with Aviva, which from this year no longer accepts payment by cheque. Like many small companies, we have no credit or debit card and make most our payments by online bank transfer, which Aviva refuses to accept. Aviva also refused to accept a cash payment. I have had to make the payment by personal debit card, which both HMRC and my accountant say is bad practice. CM, London.

A. A spokeswoman for Aviva confirms the position. She says: "Aviva stopped accepting cheques in 2009, mainly so that customers' payments could be taken more efficiently and quickly.

Previously if there were delays in us receiving a cheque via the post this could have affected the customer's policy renewing on time. By paying by credit/debit card our systems can authorise payment straight away and therefore our customers do not have a delay in getting their policies renewed. Payment can also be taken by direct debit and each year, subject to the customer being happy with the renewal premium, the policy can be automatically renewed without them having to call us.

Unfortunately we also don't accept BACS payment or have the facility to take cash payments as we do not hold money on our premises. All transactions are normally dealt with via our call centres directly over the telephone, or by using the online facility. This is likely to be the case now with most large insurers."

Q.  I have been a Vodafone customer for 18 years and currently have three mobile accounts with them. I switched to paperless bills last year and as a consequence did not spot that in August 2010 Vodafone booked a fourth line to my account and started charging me £30 a month for the account. There have never been any call charges on the line and it is obviously an administrative error.

I spotted the problem in July this year and called Vodafone and requested that the line be cancelled. I also asked for a refund of the more than £500 I have been charged for this line. Despite 20 calls, an email and two letters, I am still being charged for the line. At around the time the extra charges began, my son changed his BlackBerry and Vodafone initially sent the wrong model, which was returned.

On one of my calls to Vodafone, the representative mentioned the BlackBerry, but could not tell me where or when the handset was supposedly delivered or collected. Only Vodafone's fraud office could explain about that, but I wasn't permitted to talk to them. Vodafone told me to go to the police and report a fraud, but the police aren't interested as they regard this as just corporate incompetence. GM, London.

A. A spokeswoman for Vodafone explains: "It seems an order for a Nokia N900 was placed online on 7 July 2010 and was delivered to a Vodafone store. On collection, a card was presented for identification and was verified as being registered to the customer's address. However, at the time of ordering [the reader's] son ordered a new connection instead of an upgrade. Customer services wrongly assumed this to be fraud rather than human error, which is why it has taken so long to sort out. We have apologised to [the reader] and have arranged to credit all the payments taken in error. We have also made an offer of a month's free line rental for each of the three numbers on his account as gesture of goodwill and in recognition of the inconvenience he has suffered."

Questions of Cash cannot give individual advice. But if you have a financial dilemma, we'll do our best to help. Please email us at: questionsofcash@independent.co.uk

Independent Partners; request a free guide on NISAs from Hargreaves Lansdown

PROMOTED VIDEO
News
More than 90 years of car history are coming to an end with the abolition of the paper car-tax disc
newsThis and other facts you never knew about the paper circle - completely obsolete tomorrow
News
Piers Morgan tells Scots they might not have to suffer living on the same island as him if they vote ‘No’ to Scottish Independence
peopleBroadcaster has a new role bringing 'the big stories that matter' to US
Arts and Entertainment
Kylie performs during her Kiss Me Once tour
musicReview: 26 years on from her first single, the pop princess tries just a bit too hard at London's O2
Life and Style
Moves to regulate e-cigarettes and similar products as medicines come amid increasing evidence of their effectiveness
healthHuge anti-smoking campaign kicks off on Wednesday
Life and Style
fashionEveryone, apparently
Voices
The erotic novel Fifty Shades of Grey has already been blamed for a rise in the number of callouts to the fire brigade for people trapped in handcuffs
voicesJustine Elyot: Since Fifty Shades there's no need to be secretive about it — everyone's at it
Arts and Entertainment
A new Banksy entitled 'Art Buff' has appeared in Folkestone, Kent
art
Arts and Entertainment
Shia LaBeouf is one of Brad Pitt's favourite actors in the world ever, apparently
filmsAn 'eccentric' choice, certainly
Life and Style
An Internet security expert has warned that voice recognition technology needs to be more secure
techExperts warn hackers could control our homes or spend our money simply by speaking
Extras
indybest
News
peopleBenjamin Netanyahu trolled by group promoting two-state solution
Finacial products from our partners
Property search
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

ES Rentals

    iJobs Job Widget
    iJobs Money & Business

    Trainee Recruitment Consultant - Birmingham - Real Staffing

    £18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...

    Trust Accountant - Kent

    NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...

    Graduate Recruitment Consultant - 2013/14 Grads - No Exp Needed

    £18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...

    Law Costs

    Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...

    Day In a Page

    Isis is an hour from Baghdad, the Iraq army has little chance against it, and air strikes won't help

    Isis an hour away from Baghdad -

    and with no sign of Iraq army being able to make a successful counter-attack
    Turner Prize 2014 is frustratingly timid

    Turner Prize 2014 is frustratingly timid

    The exhibition nods to rich and potentially brilliant ideas, but steps back
    Last chance to see: Half the world’s animals have disappeared over the last 40 years

    Last chance to see...

    The Earth’s animal wildlife population has halved in 40 years
    So here's why teenagers are always grumpy - and it's not what you think

    Truth behind teens' grumpiness

    Early school hours mess with their biological clocks
    Why can no one stop hackers putting celebrities' private photos online?

    Hacked photos: the third wave

    Why can no one stop hackers putting celebrities' private photos online?
    Royal Ballet star dubbed 'Charlize Theron in pointe shoes' takes on Manon

    Homegrown ballerina is on the rise

    Royal Ballet star Melissa Hamilton is about to tackle the role of Manon
    Education, eduction, education? Our growing fascination with what really goes on in school

    Education, education, education

    TV documentaries filmed in classrooms are now a genre in their own right
    It’s reasonable to negotiate with the likes of Isis, so why don’t we do it and save lives?

    It’s perfectly reasonable to negotiate with villains like Isis

    So why don’t we do it and save some lives?
    This man just ran a marathon in under 2 hours 3 minutes. Is a 2-hour race in sight?

    Is a sub-2-hour race now within sight?

    Dennis Kimetto breaks marathon record
    We shall not be moved, say Stratford's single parents fighting eviction

    Inside the E15 'occupation'

    We shall not be moved, say Stratford single parents
    Air strikes alone will fail to stop Isis

    Air strikes alone will fail to stop Isis

    Talks between all touched by the crisis in Syria and Iraq can achieve as much as the Tornadoes, says Patrick Cockburn
    Nadhim Zahawi: From a refugee on welfare to the heart of No 10

    Nadhim Zahawi: From a refugee on welfare to the heart of No 10

    The Tory MP speaks for the first time about the devastating effect of his father's bankruptcy
    Witches: A history of misogyny

    Witches: A history of misogyny

    The sexist abuse that haunts modern life is nothing new: women have been 'trolled' in art for 500 years
    Shona Rhimes interview: Meet the most powerful woman in US television

    Meet the most powerful woman in US television

    Writer and producer of shows like Grey's Anatomy, Shonda Rhimes now has her own evening of primetime TV – but she’s taking it in her stride
    'Before They Pass Away': Endangered communities photographed 'like Kate Moss'

    Endangered communities photographed 'like Kate Moss'

    Jimmy Nelson travelled the world to photograph 35 threatened tribes in an unashamedly glamorous style