What to do? - Money transferred out of my on-line bank account and missing without my request

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Dec 5th, 2019 1:31 pm

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Dec 4th, 2019 6:03 pm

lingecw [OP]: Member; Jan 21, 2012; 422 posts; 183 upvotes

Dec 4th, 2019 6:03 pm

What to do? - Money transferred out of my on-line bank account and missing without my request

An amount of money was transferred out from my online bank account 2 days before I found it out. I contacted the bank right away, and they said they will investigate it and get back to me soon. It has been 4 business days already, and I had contacted them for a few times, but they still cannot give me an explanation, and I am still waiting for the money to reverse back to my account.

I didn't request the transfer, and looked at the transaction history, it didn't specify which linked account the money was transferred out to. I checked all my external linked accounts, the money did not showed up there.

I am mad that the bank cannot give me a definite answer when will they reverse the money. I also think it is very unreasonable that they cannot find out what happened given them 4 business day.

Anyone had such experience before? What should I do now, what is my recourse? Thanks.

12 replies

Dec 4th, 2019 6:14 pm

antigua1999: Deal Fanatic; Jun 11, 2005; 8545 posts; 2321 upvotes; Mississauga

Dec 4th, 2019 6:14 pm

lingecw wrote: ↑ An amount of money was transferred out from my online bank account 2 days before I found it out. I contacted the bank right away, and they said they will investigate it and get back to me soon. It has been 4 business days already, and I had contacted them for a few times, but they still cannot give me an explanation, and I am still waiting for the money to reverse back to my account.

I didn't request the transfer, and looked at the transaction history, it didn't specify which linked account the money was transferred out to. I checked all my external linked accounts, the money did not showed up there.

I am mad that the bank cannot give me a definite answer when will they reverse the money. I also think it is very unreasonable that they cannot find out what happened given them 4 business day.

Anyone had such experience before? What should I do now, what is my recourse? Thanks.

If your the only one that has access to that account and you did not transfer the money you will get it back. Let the bank do their investigation. I had something similar happen and it took about a week to get the funds back I was even interviewed by Peel police about the incident.

+2

Dec 4th, 2019 6:41 pm

lingecw [OP]: Member; Jan 21, 2012; 422 posts; 183 upvotes

Dec 4th, 2019 6:41 pm

antigua1999 wrote: ↑ If your the only one that has access to that account and you did not transfer the money you will get it back. Let the bank do their investigation. I had something similar happen and it took about a week to get the funds back I was even interviewed by Peel police about the incident.

Thanks for the reply. It is reassuring to know your experience.
May I ask the reason you got interviewed by the police? Did you report to the police or the bank report it?

Dec 4th, 2019 7:00 pm

antigua1999: Deal Fanatic; Jun 11, 2005; 8545 posts; 2321 upvotes; Mississauga

Dec 4th, 2019 7:00 pm

lingecw wrote: ↑ Thanks for the reply. It is reassuring to know your experience.
May I ask the reason you got interviewed by the police? Did you report to the police or the bank report it?

The bank reported it. It happened to a bunch of people. They wouldn't tell me how many just it was from Europe. I never heard anything after just glad I got my money back almost $2500.

+1

Dec 4th, 2019 8:43 pm

headleygrange: Deal Addict; Apr 13, 2017; 1719 posts; 860 upvotes; GTA

Dec 4th, 2019 8:43 pm

Which bank is this ? What is the type (cheque / debit card / PAD) and description of transaction ?

+1

Dec 5th, 2019 12:59 am

antigua1999: Deal Fanatic; Jun 11, 2005; 8545 posts; 2321 upvotes; Mississauga

Dec 5th, 2019 12:59 am

headleygrange wrote: ↑ Which bank is this ? What is the type (cheque / debit card / PAD) and description of transaction ?

Are you asking OP?

Dec 5th, 2019 2:01 am

bomber17: Deal Fanatic; Apr 5, 2016; 5052 posts; 3583 upvotes; Calgary/Vancouver

Dec 5th, 2019 2:01 am

I know it sucks, but there's really no speeding up the investigation. It's handled by an external department and they will not speed things up for anyone and for good measure.

Current Fido and Rogers customer.
Ex Koodo customer.

+1

Dec 5th, 2019 2:10 am

HyperTech: Deal Addict; Dec 4, 2007; 3976 posts; 1638 upvotes; Quebec

Dec 5th, 2019 2:10 am

can we have more details?

witch bank?

btw, that transaction is clearly suspicious as described. money transfered to an unknown account...that is not linked in anyway to op account.

i guess its been pulled from the unknown account, its either an error or a very good hacker.

Dec 5th, 2019 10:19 am

Scote64: Deal Addict; Jan 21, 2018; 4372 posts; 4434 upvotes; Vancouver

Dec 5th, 2019 10:19 am

HyperTech wrote: ↑ can we have more details?

witch bank?

Hey, we're not allowed to ask that kind of question any more. Witches are people, just like everyone else, and should not be singled out as a group for discrimination.

But I would like to know the name of the bank...

+1

Dec 5th, 2019 10:59 am

lingecw [OP]: Member; Jan 21, 2012; 422 posts; 183 upvotes

Dec 5th, 2019 10:59 am

bomber17 wrote: ↑ I know it sucks, but there's really no speeding up the investigation. It's handled by an external department and they will not speed things up for anyone and for good measure.

Do you mean they had to report the incident to some organization and they will investigate it? Do you know who are they?
The bank only said the back office is investigating it, and didn't mention any outside source is looking into it.

Dec 5th, 2019 11:00 am

lingecw [OP]: Member; Jan 21, 2012; 422 posts; 183 upvotes

Dec 5th, 2019 11:00 am

I don't want to single out the bank yet as long as they handled the issue professionally, as I understand the mistake can happen to any bank. I will wait for a bit longer and see.

Dec 5th, 2019 11:09 am

bomber17: Deal Fanatic; Apr 5, 2016; 5052 posts; 3583 upvotes; Calgary/Vancouver

Dec 5th, 2019 11:09 am

lingecw wrote: ↑ Do you mean they had to report the incident to some organization and they will investigate it? Do you know who are they?
The bank only said the back office is investigating it, and didn't mention any outside source is looking into it.

You won't have access to that department and they won't mention any outside source either. That's cause they may investigate you as well. If you didn't do anything wrong just relax and let the investigation do its thing. You'll get your money back.

Current Fido and Rogers customer.
Ex Koodo customer.

Dec 5th, 2019 1:31 pm

lingecw [OP]: Member; Jan 21, 2012; 422 posts; 183 upvotes

Dec 5th, 2019 1:31 pm

bomber17 wrote: ↑ You won't have access to that department and they won't mention any outside source either. That's cause they may investigate you as well. If you didn't do anything wrong just relax and let the investigation do its thing. You'll get your money back.

OK, hope it will be resolved soon.

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