Bank transfer - money missing

S

sandra1

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I have transferred money more then 2 weeks ago from NIB to KBC savings account. I have just opened KBC account and this is my first transfer to that account.

I didn’t know they are dependant on Ulster, I would wait in that case until technical issues are resolved. I have waited for more that 2 weeks and checked today again. They have informed me they have cleared all Ulster backlog and my money is missing.

I am going to phone NIB first thing in the morning, but this is causing me a lot of stress. I hope it is not possible that money is just lost? What should I do if NIB say there is no fault on their side?

Does anyone has experience, how long this could take?
 
I don't know if this helps, but I think that KBC use the Ulster Bank in Dame Street in Dublin as their general clearing bank, so you may have to experience delauys because of the appalling stuff that's going on in UB at the moment, but I think that this will be sorted soon. I would advise you to monitor the situation very closely, especially if you can do so online. KBC will probably have to issue proceedings against UB because of all of the issues related to late payments and other transactions which we innocent customers thought would happen automatically with such powerful, trustworthy institutions!
 
They have sent me email saying they have cleared all Ulster backlog but my transfer has not been received.
Before I made transfer I have asked is it possible to check the balance on the phone (as they don’t have internet banking). They knew at that time they have technical issues. That is very unprofessional from them.
Is it possible that money is lost? How I can monitor situation online?
 
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As the initiator of the transaction, NIB are responsible for sorting this appalling situation out.

Check with them and initiate a formal complaint via their internal complaints procedure. If you don't get answers escalate the complaint to the regulator.
 
I have tried to find similar posts, but there are not any. Is it possible that money can be lost? Would anyone know how complicated complaint procedure is and does it take long?
I am worried NIB will just blame Ulster and KBC will not be willing to help. KBC just told they have cleared all transactions.
 
This is a paper trail. You'll have to start with NIB where you gave the initial instruction. Then they will be able to check when the money came from the existing account, check the transfer information and will then be able to find the missing transfer. If the money was there originally, the the problem is with NIB. It seems that they have messed up, and as already mentioned if they are bust doing nothing, bring a complaint to the regulator.
 
I opened two accounts with KBC about a month ago. Sent two cheques to cover the lodgements. Received an acknowledgement for one but not the other. Rang them two week ago and they indicated some problem with the second lodgement being credited to my account but I was assured I was receiving interest from the correct start date. Two weekslater and and I still haven't received acknowledgement of the second lodgement.
 
I also made a transfer to KBC from NIB just over two weeks ago and it hasn't yet appeared. I have been in contact with KBC a few times and their advice is just to wait a bit longer until Ulster Bank eventually process it. They have assured me that I won't lose any interest.
 
Thank you all. It helps so much to know others have the same problem. KBC sent me an email yesterday saying "they have cleared all technical problems" and I should go back to NIB.
I have just phoned KBC regarding this. Lady on the phone was very nice - she told me the problems are not cleared and I should wait. In the mean time I am going to ask NIB to trace the transaction in case it can speed up the process. I was not thinking about lost of interest as I was in panic that my savings are lost, but it is good to know they will refund it.
 
I have an update - my transfer has been received. Probably all the confusion came from their email yesterday when they wrote that all technical issues are solved.
cashier said:
It is disgraceful that customers such as yourself have to suffer so much expecially in your case when you thought your savings were lost. You should at the very least have been assured that you wouldn't lose your money.
Click to expand...

:) Rationally I knew it is not possible but I was so worried when I saw that email last night. I was concerned about the hassle and procedure as well.
 
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