Long time lurker. This is a long and slightly complicated one, any advice here would be greatly appreciated. I applied for a new credit card with my bank (AIB) and in the process of opening the card, had a balance transfer for €5400 from another creditcard (tesco bank) that I hold. I usually pay off the full amount of the Tesco credit card in full each month, it is a cashback creditcard and my family use it for all purchases so the monthly amount can be large, I don’t look at the individual transactions as there are hundreds, but pay off the full balance each month. However I was buying a car that month so decided to open a creditcard with my AIB bank to avail of their low introductory rate on balance transfers.
All seemed fine until I had a letter from Tesco Bank informing me I was over my credit limit (8k), this seemed odd as they should have received the balance transfer from AIB 10 days earlier. It turned out that AIB had sent a cheque to Tesco for the balance transfer, but Tesco bank had not received it.
Next I ring AIB and inform them that Tesco bank have not received the balance transfer (even though on my AIB statement it was there). AIB then inform me that they will then immediately cancel the first cheque and issue a second cheque to Tesco bank.
A few days later Tesco bank receives the cheque and credit my account to the amount of €5400, all seems good. (in fact AIB refund me interest and fines that I received from Tesco bank for going over their credit limit due to the disappearing balance transfer cheque). This happened 2-3 months ago, and I thought this was all dealt with finished.
However, today I receive a phone call from AIB telling me that even though they cancelled the first cheque to Tesco Bank somehow Tesco bank cashed it! I have now gone back over my creditcard statements with Tesco and indeed my creditcard with Tesco was credited twice for €5400 (at different times). I asked AIB how Tesco were able to cash the first balance transfer cheque if a stop had been put on it WEEKS previously. They declined to give me an answer. I have spent the 5400 in the meantime (this may seem suspicious, but my family spends between 1.5k and 8k each month on all purchases, so 5400 of spend would not be unusual to us).
AIB have now asked me to ring up Tesco on their behalf and get them to send AIB the 5400 back, and for Tesco to debit my account with them the 5400 (which I obviously don’t want to do as Tesco have a massive interest rate, and I’ve already spent the money). They apparently are not allowed to call Tesco directly on my behalf.
What should I do, what are my options? If I say I will not do that (ring Tesco), do AIB have any recourse to take money from my current account with them directly, for their error in sending too much to Tesco by not actioning the block that they put on the first cheque? Could they take me to court for the money?
Any advice would be greatly appreciated. Specifically from people in the know on what actions AIB could take if I do nothing regarding contacting Tesco Bank for them.
I hope that makes sense. Thanks
All seemed fine until I had a letter from Tesco Bank informing me I was over my credit limit (8k), this seemed odd as they should have received the balance transfer from AIB 10 days earlier. It turned out that AIB had sent a cheque to Tesco for the balance transfer, but Tesco bank had not received it.
Next I ring AIB and inform them that Tesco bank have not received the balance transfer (even though on my AIB statement it was there). AIB then inform me that they will then immediately cancel the first cheque and issue a second cheque to Tesco bank.
A few days later Tesco bank receives the cheque and credit my account to the amount of €5400, all seems good. (in fact AIB refund me interest and fines that I received from Tesco bank for going over their credit limit due to the disappearing balance transfer cheque). This happened 2-3 months ago, and I thought this was all dealt with finished.
However, today I receive a phone call from AIB telling me that even though they cancelled the first cheque to Tesco Bank somehow Tesco bank cashed it! I have now gone back over my creditcard statements with Tesco and indeed my creditcard with Tesco was credited twice for €5400 (at different times). I asked AIB how Tesco were able to cash the first balance transfer cheque if a stop had been put on it WEEKS previously. They declined to give me an answer. I have spent the 5400 in the meantime (this may seem suspicious, but my family spends between 1.5k and 8k each month on all purchases, so 5400 of spend would not be unusual to us).
AIB have now asked me to ring up Tesco on their behalf and get them to send AIB the 5400 back, and for Tesco to debit my account with them the 5400 (which I obviously don’t want to do as Tesco have a massive interest rate, and I’ve already spent the money). They apparently are not allowed to call Tesco directly on my behalf.
What should I do, what are my options? If I say I will not do that (ring Tesco), do AIB have any recourse to take money from my current account with them directly, for their error in sending too much to Tesco by not actioning the block that they put on the first cheque? Could they take me to court for the money?
Any advice would be greatly appreciated. Specifically from people in the know on what actions AIB could take if I do nothing regarding contacting Tesco Bank for them.
I hope that makes sense. Thanks
