Well, there was obviously funds if they were able to remove them?There was no funds in the account the day they were re called as they removed 6k of my
The bank can make the request, but it is up to the CU to decide what to do with the request.... you beef is with the CU.That’s the thing - I think I’m on a loser with this - there is no distinction - other the money they took was my shares - the 6 k had been sent to a different institution -I’ll update when I’ve more info - just the ramifications of taking my shares is substantial as they were insured in case of death ( credit union)
I have had one very heated exchange with credit union earlier earlier over this - I am awaiting a call from manager in the morning - that’s very interesting. -the bank request - the credit union then decide what action to take - good to know - they took 60 percent of my shares that took me years to save - and just gave it to the bank - I’m so annoyedThe bank can make the request, but it is up to the CU to decide what to do with the request.... you beef is with the CU.
Sorry I had put a lot more information earlier but it was deleted - I tried to put in a short version to get it on here -Did I understand this correctly
Your bank sent some of your funds to another institution - was this on your instructions? on the instructions of the other institution?
They then tried to reverse the transaction but sent the reversing instruction the the wrong institution?
There are so many unknowns here it is difficult to see who, if anyone, is at fault although your bank does seem to bear most of the responsibility
It's not very clear, but the issue doesn't appear to be the 6k, but the impact on the Life Savings insurance linked the the credit union share account. As the balance dropped, the insurance only covers the lower amount if the OP is over 55.I can see why you're annoyed at the recall, but can the 6k not be transferred back again? Assuming it can, you won't have suffered any loss.
100 percent correct thanks - I’d love to know what the cu regs are re using members shares like thisIt's not very clear, but the issue doesn't appear to be the 6k, but the impact on the Life Savings insurance linked the the credit union share account. As the balance dropped, the insurance only covers the lower amount if the OP is over 55.
Any idea is there rules / regs , re this.The bank can make the request, but it is up to the CU to decide what to do with the request.... you beef is with the CU.
It's the SEPA rulebook.Any idea is there rules / regs , re this.
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