Scammed by NAB - Not Really - Resolved

Irishbazz on 22/12/2017 - 00:24
Last edited 23/12/2017 - 13:34

Just an update, confirming NAB have come back and offered a full refund as a goodwill gesture. Thank you NAB!

Fully aware I made a typo with the IBAN by one digit, but the fees were my issue and as to the best of my knowledge this is not the first time this has happened in the history of banking? A better process should be in place to rectify this type of error.

Thanks for all your comments.

Ok, so I sent a birthday gift to my father back in Ireland via international transfer using my NAB account. $168/e100. Got a letter a few days later stating payment could not be made and refunded $7.83 into my account.Simply thought they had charged me too much fees.
Roll on two weeks (yesterday) speaking with the folks and no e100 had shown up in his account. Got onto NAB today and apparently they do not deal directly with my folks bank so the transfer was made through an intermediary bank. They could not complete the transfer due to one digit in the IBAN code being incorrect.

So they charge me e15 for not being able to complete the transaction and another e80 to investigate the matter!Which equates to the e5 refunded into my account.I carried out my own investigation and within 5 seconds had clicked what the issue was and any banker worth his salt would have recognised the problem.

NAB can do nothing apparently, its out of their hands! Money gone feel like I have been scammed!!

Anyone had anything similar happen to them? Worthwhile getting on to the FOS?

Financial

Related Stores

National Australia Bank Group (NAB)
National Australia Bank Group (NAB)

Comments

  • airal3rt on 22/12/2017 - 00:40
    +12

    So you attempted to send $168 and are now left with $7.83?

    There's no way that can pass muster, I'd tear them a new arsehole over the phone and inform them I'm involving the ombudsman. If that doesn't prompt them to resolve it, then go to the ombudsman.

    • Irishbazz on 22/12/2017 - 00:57
      +1

      They should have finished stitching that new arsehole by now! Will have to wait and see if they come back to me, probably first week in the new year and if not will continue to follow them up. Interested in hearing from anyone who may have gone through something similar.

  • onceupon8 on 22/12/2017 - 02:34
    +5

    SWIFT transfers are very expensive - especially when intermediary banks or investigations are involved. Use it as a lesson to use an online money transfer provider next time like CurrencyFair.

  • EightImmortals on 22/12/2017 - 06:54
    -8

    This is why bitcoin was invented. :)

  • mskeggs on 22/12/2017 - 07:17
    +3

    That is outrageous.
    SWIFT is costly, but that fee is absurd.

  • pjetson on 22/12/2017 - 07:18
    +8

    due to one digit in the IBAN code being incorrect.

    Your fault?

    • Ryanek on 22/12/2017 - 08:21
      +3

      Now that is the question.

  • Yttrium on 22/12/2017 - 07:41

    Definitely FOS. Demand your 168 back.

  • Flying Ace on 22/12/2017 - 08:13
    +1

    Transferwise. $4.

  • GG57 on 22/12/2017 - 09:15
    +1

    It appears that the majority of the fees deducted were by NAB's correspondent bank. If you do manage to get some NAB support, they can only request their correspondent bank to refund and see what happens.
    One digit wrong in the IBAN sounds minor, but the vast majority of SWIFT payments are automated. Only the exceptions (i.e. invalid codes etc) get hands-on management, thus the fee.
    Perhaps the account number or other details (bank BIC code), that form the IBAN, were mentioned elsewhere in the message?, in which case the investigation could have resolved it and made the payment? If so, that should be your basis for the further investigation and fee refund.

    • Irishbazz on 23/12/2017 - 13:40

      Yeah the IBAN issue was the bank ID e.g Bank of Ireland = BOFI, I typed EOFI any banker in Ireland should immediately resolve that issue, considering the sort code and account number were good.

  • Munki on 22/12/2017 - 09:16
    +3

    Everybody who has ever dealt with a Nigerian Prince knows to use Western Union.

  • Quantumcat on 22/12/2017 - 09:39
    +2

    Why not use PayPal friends & family? That's what it is for. There might be a fee but it would be a small one.

  • Love a bargain on 22/12/2017 - 16:16

    Why not use Citibank plus? It's free

  • idonotknowwhy on 22/12/2017 - 17:38

    next time, litecoin

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