Forum Moderators: buckworks
I saw an advertisement for a guy to re-sell goods on ebay. Since I am super busy I had him sell odds and ends. Then I decided to have him sell a watch. He said he had a guy from Italy who wanted to buy it and would transfer it by CHAPS. I thought great, no fees etc etc...Funds were recieved and the item was sent.
Two months later I get a call. My bank (HSBC) tell me the funds were sent be mistake and need to be given back! I go to the branch and I tell them the low-down on the details of the transaction and that it was not a mistake!
They called me back an hour later telling me they want MY details and passing it on to Lloyds (not sure why) as they are treating it as a fraudulent transaction. So which is it? A fraudulent transaction or a mistake? I don't know what is going on but I have never heard of this. I am not keen on giving my info to anyone and want to know has this ever happened to anyone else and what should I do? Am I obliged to supply my information? Why should I..they should go through ebay or the seller; not me!
Thanks for your patience and let me know what you think I should do.
CHAPS would have given me a look see jsut to be sure it was a good deal, as it is fairly expensive to use but then again I am not sure on the cost of the watch either.
Either way either you need provide your details or they can withdraw the money anyway. Best to get it resolved.
get the information on the buyer address country shipping and anything else you can get up as to the deal as it looks bad from what I am seeing right now.
I have got a confirmation of sale I printed out in the bottom of my drawer I have fished-out. I am going to provide that as proof that it was not mistake and cooperate but I refuse to have my details passed-on, I don't think it is fair. The fact the sender's bank have now changed their stories saying that it was a mistake (virtually impossible with CHAPS I think due to the use of BIC and IBAN) to fraud?!
This is so irritating. I am never selling something again. This buyer could have the watch (over £700) and the funds and I will have nothing :-(
Dont give any bank info over the phone, thats rule number 1.
Banks just credit or debit in a case like this, they dont need you to call and tell them your information in order to make something happen, then you just deal with it in writing according to protocol.
Did i read this wrong?
Is your bank telling you its a mistake and asking you to return the funds, or tell you that you have to return the funds?
Yes the communication is between the issuer bank and my bank.
I also thought CHAPS was irreversible! I know that in a case with HSBC they tried to reverse a CHAPS transaction and it was deemed illegal! The whole point is the issuer bank claimed it was a mistake (almost impossible given the length of BIC and IBAN numbers!) and now since I dispute it was a mistake say that it was fraudulent! It seems very dissorganised and I think I am in fact being defrauded from the buyer. I don't really understand but he has an expensive watch he bought and is obviously not telling his bank this (which is the only reason I can imagine the bank have changed from accidental payment to claiming the transaction was fraudulent!)
I think I should start a petition or something. This could happen to anyone! It is our point as individuals to show these banks they cannot simply overrule their customers...I feel so abused by my bank!
Is Wire Transfer 100% Secure? [webmasterworld.com]
Although it regards bank wires from Ghana, the links and discussion about the reversibility of bank wires should be useful to you in understanding what has most likely happened in your case.
