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Original poster

Bank error (not in my favour)

29 replies

NCforthebillionthtime · 11/04/2016 21:01

I bought a 2nd hand car on Friday having agreed to pay seller in cash. Spoke to bank about withdrawing the sum of money and then went to collect it. They were expecting me, and the £7200 was ready for me when I reached the front desk. The cashier counted out the £200 in front of me but told me that the £7k had already been double counted. It was in a sealed bag of £5k with 2 x £1k bundles with paper tape round it. I took the wad home -feeling like a drug dealer- checked the £200 again and counted that there were 2 wads and a 5k wad, paid for car, had a nice weekend.
Fast forward to today and very trustworthy seller has advised me that when he deposited in the bank, there was £60 missing from one of the 1k bundles.
I'm totally astounded that the bank could have made this mistake. I am really confident that the seller is not chancing it, and no one could have taken any of the money as it was only in my possession for about 2 hours and never unattended.
I've spoken to the bank who have said there is nothing they can do as the paper tape surrounding bundle has now been discarded by sellers bank.
I really don't know what to do. I don't want to pay another £60 but also feel bad for the seller.
Any ideas wise mumsnetters?

OP posts:
Musicaltheatremum · 11/04/2016 21:17

If the seller saw it was in sealed bundles then he should have challenged the bank he deposited it in to count again. They surely should have known to keep the paper tape. If they knew it came in a sealed bag from the bag then they should have questioned where it came from there and then.

Lariflete · 11/04/2016 21:26

I'm sorry, but I think that was a bank error from the cashier who counted it into the sellers bank.
Banks don't seal the 5k bags in branch. They are sent to a centralised cash centre (after they have been counted and signed in branch) who then check and sign them before sending them to any other branch which has ordered cash.

Original poster
NCforthebillionthtime · 11/04/2016 21:29

Sorry, my post was misleading. The £5k was in a sealed bag, the 2 £1k bundles had tape round them but weren't sealed. The cashier said the £7k had all been double counted so wouldn't count them out in front of me.

OP posts:
Penguinepenguins · 11/04/2016 21:30

Not your fault OP.

You shouldn't be £60 down, the seller should have checked the amounts in front of you.

I'd say sorry, but it is what it is the sale has been done.

Penguinepenguins · 11/04/2016 21:31

You shouldn't be down £60 OP it's not your fault

The seller should have checked the amounts when you were there.

Penguinepenguins · 11/04/2016 21:31

Sorry internet being a pain and thought my first post hadn't posted :)

SquidgeyMidgey · 11/04/2016 21:33

I had something similar a few years ago and when I called the bank (discovered after closing hours) they said they could check the tills and see if there was indeed a discrepancy. And there was. Could yours maybe do that?

Original poster
NCforthebillionthtime · 11/04/2016 21:37

I've called the branch and they have said without the tape that went round the bundle, they can't identify which day it was bundled and so wouldn't know if there was any discrepancy.

OP posts:
FeliciaJollygoodfellow · 11/04/2016 21:38

So your seller didn't count the money at all?! Well, isn't he trusting.

Not your fault. I think I'd just reply with a 'sorry to hear that, it was all there when I handed it over to you'.

SquidgeyMidgey · 11/04/2016 21:39

So your seller didn't count the money at all?! Well, isn't he trusting Indeed.

Original poster
NCforthebillionthtime · 11/04/2016 21:42

So your seller didn't count the money at all? I know! I thought one of them was counting while the other showed us how things worked but they did have kids to look after so maybe not. Also, I feel they probably assumed that the £1k bundles from the bank would be complete (like I did).

OP posts:
MaureenMLove · 11/04/2016 21:42

When I withdraw a similar amount a few weeks ago, I watched as someone on the secure locked side of the bank counted my money out to the cashier that was serving me. They both confirmed the amount to each other and the bag was sealed and signed on the front then handed to me.

Assuming that that is the way the majority of high street banks conduct large transactions, I think it's more likely that the error is at the sellers bank, not yours. If, dare I say it, there was an error at all.

I think it's up to the seller to make enquiries if he must and not you. It's his fault he didn't count it.

Incidentally, the guy I handed my money to, only counted the extra £50 loose that I'd given him and he actually said, 'I don't need to count all of this, it's in a sealed bag straight from the bank'.

AdrenalineFudge · 11/04/2016 21:46

Something similar happened to me a few years ago but I wasn't withdrawing as much money as you were. The teller had made a mistake and I asked her to re-count it there infront of me.

I don't see either banks doing anything now that the money has effectively been deposited.

Is the seller demanding you pay the £60? It does sound like a fault on their banks side.

Twowrongsdontmakearight · 11/04/2016 21:47

I work in a bank. One customer has regularly been withdrawing £3-5,000 to pay his builder. He also told me that he often takes £20 from one or two bundles because 'nobody checks'. He doesn't look the type to do this but he obviously does! I always insist on counting each bundle back or weighing each before handing them out.

In your case, how do you know he hasn't skimmed off the top? He was very foolish not to check.

Re checking the tills, they're all balanced weekly. Any errors would be logged and they should be able to check back or balance for you now. We don't ask for the bands back.

sooperdooper · 11/04/2016 21:49

If the bank made the error the cashiers till will be out by that amount, they'll know there was a discrepancy - contact the bank asap

nut3lla · 11/04/2016 22:05

Bought & sold loads of cars (DP is a bit car obsessed and insists we change regularly!) so have dealt in money like this often. Would ALWAYS count out money while buyer was there & if money was short this would be the time to say. Don't think you are liable for this at all. Might be the bank at fault but either way I don't think you should be the one feeling at all guilty. Difficult if they feel you've "done" them but it's their mistake not counting, not yours.

moveoverhogger · 11/04/2016 22:44

My advice to you is to make a complaint to the banks head office where you withdrew the cash. I would be very surprised if they didn't reimburse you the £60. They will usually do this without admitting liability but by giving you the benefit of doubt.

Littleorangecat · 11/04/2016 22:52

You need to ask your bank has a cash error for £60, if the error is theirs they should be £60 up.
I would also ask if they should have counted it in front of you, before you accepted it and took it away.
If they say there's no cash error I think it's tough for the other party they should have counted the cash in front of you.

Littleorangecat · 11/04/2016 22:54

Also why does your bank need the bands from the bundles, don't they have records who put the transaction through the till and doesn't this show who had prepared the bundles??

chocomochi · 11/04/2016 22:57

When we sold our car, we insisted the buyer come with us to the bank to deposit the money. That way, any errors could have been sorted out immediately.

ivykaty44 · 11/04/2016 23:39

I have stood at the bank today and counted out the money given to me.

The cashier sneered and said it was correct as the machine counted it.

I always count money out so that I know it's the right amount and if handing over money I count it out so that it can't be challenged at a later date or time.

When in Australia the cashier gave me $100 dollars less than she said, I never moved from the counter and counted the money - consequently she had to make up the money - had I moved away I wouldn't have been able to to a thing.

The seller needs to learn his lesson and should have counted the money in front of you. You need to learn a lesson and count the money.

The cashier today will learn tomorrow that his till/ float is short - but as his machine never makes mistakes what should I do with the extra money I have?

FeliciaJollygoodfellow · 11/04/2016 23:47

Why should OP do anything? Onus is on the seller to contact his bank.

wasonthelist · 11/04/2016 23:49

OP you have a lot more nerve than I do - the most I ever paid in cash (was for a car too) was 2K and that was very carefully counted by the seller and by me.

I mostly do this by internet banking these days - although I did buy a car for £300 cash recently (we both counted).

I wouldn't consider wandering about with that amount of cash for fear I'd lose it/get mugged etc

Original poster
NCforthebillionthtime · 11/04/2016 23:54

I really wish I had just done a bank transfer. The reason I didn't was because I worried there would be a delay before it arrived in sellers bank . Instead, I spent 2 days on hold to banks, and in bank queues - never again!

OP posts:
wasonthelist · 12/04/2016 00:01

On a slightly less unhelpful note - I guess you could offer to split the shortfall on the basis no-one can be sure where it happened - £30 hit each?