Thursday, September 24, 2009

Fraudsters utilising the UK banking system

Dear All,

Learn from my ignorance, there is a loop hole in the UK banking system, when you deposit a cheque they tell you it takes 5 days to clear, after 5 days the cheque clears and you can withdraw funds against it, but, for another two days the bank can reverse the cheque leaving you out of pocket for what you have withdrawn.

In my case the fraudsters relied on me thinking once the cheque was cleared no matter what the money was mine, unfortunately the bank then reversed the cheque believing it to be suss and having already sent the money to the shipping agent I was up shit creek. My bank account is in OD and my mortgage payment didn't go through, nice, as I have my money in ING I can't get access for three days so up shit creek with no paddle.

So in short the if you deposit a cheque in the UK leave it 7 business days not 5 even though the money is cleared as it can be taken away, if someone gives you a cheque then pushes hard after 5 days to withdraw and pay then they know this and are screwing you.

The worst thing for me, I cant afford to loose £4200 and need every cent / penny for what lies ahead.

I will fight to get back what I can but don't hold much hope, if you work in law or the banking system in the UK and feel you can help then please help it is Eva's money they have and that piss's me off.

2 comments:

  1. Hi David,

    I love catching up with Eva and your adventures but this shocking story makes my skin crawl. I really hope you manage to get some help with this. I can't believe people can be so cruel.

    Thinking of you both,


    Chelly

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  2. Hi David
    I know i have emailed you with regards to little Eva but i spoke to my boyfriend who works in banking, he said you may have recourse to go to the banking ombudsman and also to check your house insurance or if you have cpp insurance or some other policy that covers banking cards and accounts etc. That maybe or may not be helpful but i hope you get your money back. Dawn

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