Calling Business Banking Managers

[trinni]

Hi, some advice please.

ExP has managed to take £6K from our joint business account (mandate states 2 signatures required) and has done a moonlight flit!

He went into our local branch of NatWest and casually transferred it, seemingly without question, to his personal account.

How can this be?

I have contacted the bank, who are looking into it but taking their time and being a bit cagey in my opinion.

He surely can't get away with this can he? And are the bank liable to compensate me if they are at fault?

Any advise would be most welcome - I am furious!

I would say that if the account requires two signatures for withdrawal that the bank would be liable but they will no doubt look to deny liability so you may need to check the small print or take - or threaten - to take legal action. It might be a different matter though if the second signature was forged and you may have to pursue your ex P or at least seek proper legal advice. The Citiens advice bureau may be a starting point. Can you arrange to put a freeze on the account so no further funds can be withdrawn?

Thanks lookingto...

I have put a freeze on the account, I did that several days ago. It was only upon talking to our accountant today, did I realise the implications of what he has done!

Yes, I believe the bank will, no doubt look to deny liability but having said that, I don't think my signature was forged, simply the cashier let it go through without question.

I hope that with further investigation, it will come to light whether or not two signatures were needed. He was the only one who presented at the bank so, presumably, he was the only one who signed.

I spoke to the bank again today and they are now saying, if two signatories were required, we should not have been issued debit cards or been allowed to set up internet banking, both of which we had access to. Gets more complicated???