Think You Are Having A Bad Day?

[ToraToraTora]

https://www.theguardian.com/money/2021/sep/01/i-sent-a-40000-loan-to-my-son-by-mistake-and-he-spent-it
....what a right nasty little sheet her son must be.

[Ellipsis]

Wow, what a tragic tale. I wonder what he spent it on ...

[Ken4155]

Whatever it was, i hope it was worth losing the love of his mother. Wonder if the suspended sentence was handed down because he could have lost his flat had he been sent to prison, adding further financial woes to the poor mother.

[roadman]

is a mothers love only worth 40k lol im sure she still loves him but is at her wits end with him to be fair its probably not the money but the stress that comes with this incident what a idiot he is for spending it basically robbing his mother awful child im sure some love is still there though

[Zacs-Master]

She does have my sympathy but with something so important, surely you'd check and double check the account number you were sending it to?

[Jackdaw33]

Although the money was not his, he may not have known that it was intended for his mother.

[Ken4155]

From the link; "My son said he had not received any money and i spent the next five weeks vainly trying to trace it."
My parents are deceased but if i had suddenly received £40K in my bank account, i'm pretty sure they would be among the first people i would inform.

[ToraToraTora]

not an excuse JD, doesn't matter where it's from he's knows it ain't his.

[choux]

If this were not such a tragic case I would have suggested the mother was handed the wrong baby at the maternity unit :(

[youngmafbog]

Just another low life tea leaf. They dont care who they pinch from.

[barry1010]

Should the bank compensate her?

[youngmafbog]

Grey area Barry.

On one hand she freely put the account number in. On the other hand the Bank did little to check it.

Up to the Ombudsman who has the full details to decide.

[barry1010]

I know the ombudsman is investigating, just wondered what poeple thought about it.

[wolf63]

If I am transferring money to an account for the first time I usually make the first payment a lower amount and then check that it has been received at the other end.

Losing an amount like £40k would make a dent in my savings. The woman seems to be in the wrong, but I would like to think that any child of mine would not run off and spend his ill-gotten gains.

[barry1010]

I do the same, Wolf, send £1 first.

[chelle7272]

I think there is some liability with the bank who allowed further to be spent once the mistake had been realised.
It was the woman's fault initially. What a way to find out your son is a selfish brat.

[bednobs]

how did she know her son's BA number?
i reckon if it's true at all, and not just some elaborate way for the paper to explain the bank's duties, they cooked it up between them.

[barry1010]

Maybe she had paid money in to his account before, bednobs. Strange mother if she purposefully took part in a scam that has left her son with a criminal record

[bednobs]

if its true barry, then if she's stupid enough to put the wrong ba nuber on and not check it (who knows their childrens ba numbers off the top of their head, and if it was written down, it would have had (son's name) account next to it?) then she's stupid enough to think they could scam the bank with no consequence

[zebo]

I had a similar experience with Nationwide, when we were buying a new house we cashed in some investments and over the phone I gave the account number etc. When it hadn't arrived after a week I phoned the company and they said it had been sent to 'this account number', which was one digit wrong, I had misread a 5 and 3, a recording proved this. I went down to Nationwide and they were very helpful, the money was, luckily, in a dormant account so they were able to recover it!

[ToraToraTora]

wolf63, 13:06, yes that's what I always do.
barry: "Should the bank compensate her? " as YMB says grey area, they would say it's not an error and it isn't the problem was that they used BACS or similar which is interbank so they assume the details are correct, rather than FPS. with the latter they have recently upgraded the system to check that the account name matches the account number, not fool proof of course but it would have helped here. I think I'd be more inclined to pursue the lender who put the cash into the account without checking. Though I'd not be surprised if they say the onus is on the customer to provide the correct details.