PTSB transfers to Raisin & Trade Republic "lost"

Brendan Burgess said:
why do you say that if Raisin has rejected the recall

Brendan
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I am probably being unfair and the problem could well lie with Raisin. Concern I would have is that PTSB don't manage SEPA payments in house. They use Citi to process SEPA payments so there is an extra layer there.
 
@SerenaZ - I'm surprised to read that PTSB won’t provide you with an OBPAY reference until after the trace! It was the opposite for me. They supplied me with all the references, so Raisin could trace the money! PTSB have contradicted themselves over several issues which has led me to think that their responses are tailored to suit them. They told me they wouldn't speak to Raisin Bank, citing GDPR. This changed when Raisin Bank requested me to ask them for specific information about the money transfers. PTSB refused to supply me with the details and told me they would deal with Raisin directly!
 

Today, PTSB sent me the OBK ID (PTSB say it is not called OBPAY) which I sent to Trade Republic.

PTSB say that the payment was released to TR.

TR have now replied to emails and asked for more information which I have provided but I have not got a solid reply from them.

This is SO FRUSTRATING

Next step is PTSB still need to do a full trace on this. I am waiting on this.

Thereafter, PTSB say they will do a recall if the trace does not work. But the recall did not work for Cooler Box.

If the trace fails? And the recall fails? What next? Do I complain to the CBI or the German regulator?

@Cooler_box - What information did PTSB refuse to supply? What exactly did Raisin ask for that PTSB won't supply?
 
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Since some people might get the impression that PTSB is bad at SEPA transfers from this thread, I'll just note that I have in recent months made two large SEPA transfers from them and the experience was good (and, in fact, better than at BOI). The amounts were larger than can be transferred online, so I had to make an appointment for a branch visit. They charge 50c for the service (I think it was only 25c the first time), but it is sent straight away (it arrived a few hours later the first time, and the second time had already arrived when I got home). BOI appears to generously waive their 50c fee for SEPA transfers larger than can be transferred online, but in fact that is only for a slow transfer that takes up to three working days - for a same day transfer they charge €25.
 
@ Serenaz - Raisin have requested an overview of every transaction showing the Recipient, IBAN, Reference, Date, and other details for each transfer so they can match the transaction references they see at their end. I’m baffled at the Bank’s inability to identify one transfer that went astray out of 10. How difficult can it be to tick off the 9 that were successful. Too simple?
 
I recently transferred money from Wise to Lightyear but forgot to include my reference in the transaction.

Its an immediate transaction with funds showing pretty much immediately. When they didn't appear I realised the issue and prepared myself for a lot of back and forward with Lightyear to trace the money.

At lunch time the following day I received an email (unsolicited as I had not raised it with them) from Lightyear who identified the rogue transfer and requested I send on the screen grab of the transaction on Wise side so they could release the funds to my account.

Minimum drama and fuss so quire surprised at song and dance routine on Raisin side.
 
Well, I’ll be damned. My transfer had NO errors, yet here I am jumping hoops and being put through a wringer.
 
Brendan Burgess said:
By whom?
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Cooler Box is being made jump through hoops by PTSB and Raisin for something that was not his/her fault.

I am being made jump through hoops (so much chasing and time spent on this and total lack of concrete answers) by PTSB and Trade Republic for something that was not my fault.
 
Brendan Burgess said:
And both posters have pointed out that they have made multiple transfers from ptsb successfully.
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Indeed. Really, I was just surprised by PTSB's generosity, compared to BOI, in offering such quick transfers for only 50c, and wanted to share it, but didn't feel like it was worthy of a new thread so decided to add it to this discussion.
 
@Brendan Burgess - Both Banks won’t work together to trace the missing money, citing GDPR as the reason. Until two days ago, and for the last 3 weeks, I found myself in the invidious role of go-between the Banks to obtain information. Anyone who has used Open24 Customer Services will know that you never speak to the same ‘Agent'; the Issues have to be rehashed from scratch. I was on my 8th Agent when I called them on the 10th of October with another request from Raisin Bank. Two minutes into my conversation with the Agent, who gave me the same generic responses, I insisted on talking to the Manager. I was put on hold for 20 minutes before my call was cut off. I called again, another long wait, but eventually spoke to the Customer Services Manager. He couldn’t (or wouldn't) give me the information Raisin wanted and told me he would contact Raisin directly. I thought I had misheard. Was GDPR no longer an issue? Were the Banks using this excuse indiscriminately and arbitrarily to avoid taking action? He informed me that he would also initiate a trace. I had understood, from a prior conversation with their CS team, that this had been done when they supplied me with the OBPAY references, but no. As the two banks are now talking, I hope the matter is on the way to being resolved without further involvement from me.
 
Slightly different experience with PTSB. Every time I have called I have asked to speak to the agent who is looking at my case and then they organise for that agent to ring me.

I have had no success yet with trying to get PTSB to talk directly to Trade Republic. But I have not asked to speak to a Manager yet.

GDPR sounds like a made up excuse by PTSB. If you give consent for PTSB to share your personal information and if it is totally necessary in the course of business (as it is in this case) then I can't see how GDPR stops this.

Again, PTSB told me it is not called "OBPAY" - they say it is called "OBK" ID. Maybe someone who knows SEPA well can confirm?
 
SerenaZ said:
Again, PTSB told me it is not called "OBPAY" - they say it is called "OBK" ID. Maybe someone who knows SEPA well can confirm?
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It's a while since I messed around with SEPA messages, but I'm pretty confident it's nothing to do with SEPA. OBPay is a payments software (from Oracle Banking), so it's an internal message reference in PTSB. Most likely its getting added by their 3rd party payments partner, and confirms to PTSB that the payment is processed.
In SEPA Pain.001 message it's probably populating a Payment Information ID so it can be used in a trace.
 
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Thanks for the correction (that Cooler Box is right) and it is called an OBPay but it has nothing to do with SEPA.

Exactly - PTSB told me that this ID confirms that the payment was processed.

Is it still theoretically possible that PTSB / Citi Compliance could have stopped/blocked the payment after this ID was generated and before it reached Trade Republic? Just clutching at straws as to what is going on.
 
SerenaZ said:
Is it still theoretically possible that PTSB / Citi Compliance could have stopped/blocked the payment after this ID was generated and before it reached Trade Republic? Just clutching at straws as to what is going on.
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There are lots of theoretical things that could go wrong, but there should be controls in place to identify them.

To be honest, in your shoes I would lodge a written complaint and force them to formally respond. From your perspective, your money has got lost, and you have no way of tracing it yourself.
 
Forget the phone calls and online forms.

Type, print, sign and post a letter of complaint. Post by recorded delivery to Customer Complaints c/o Head Office address. Keep a copy.

If you've no reply in two weeks time, send it again with a cover letter.

Don't take calls, tell them to put it in writing.
 
Why not send a letter as advised above but asking them to provide a final written response to this. They will know where this will lead. Financial Ombudsman.
 
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