Personal Finance

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

  • Last Updated:
  • Dec 5th, 2019 1:31 pm
[OP]
Member
Jan 21, 2012
422 posts
183 upvotes

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
Deal Fanatic
Jun 11, 2005
8545 posts
2321 upvotes
Mississauga
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.
[OP]
Member
Jan 21, 2012
422 posts
183 upvotes
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?
Deal Fanatic
Jun 11, 2005
8545 posts
2321 upvotes
Mississauga
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.
Deal Addict
Apr 13, 2017
1719 posts
860 upvotes
GTA
Which bank is this ? What is the type (cheque / debit card / PAD) and description of transaction ?
Deal Fanatic
Jun 11, 2005
8545 posts
2321 upvotes
Mississauga
headleygrange wrote: Which bank is this ? What is the type (cheque / debit card / PAD) and description of transaction ?
Are you asking OP?
Deal Fanatic
Apr 5, 2016
5052 posts
3583 upvotes
Calgary/Vancouver
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.
Deal Addict
User avatar
Dec 4, 2007
3976 posts
1638 upvotes
Quebec
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.
Deal Addict
Jan 21, 2018
4372 posts
4434 upvotes
Vancouver
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...
[OP]
Member
Jan 21, 2012
422 posts
183 upvotes
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.
[OP]
Member
Jan 21, 2012
422 posts
183 upvotes
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.
Deal Fanatic
Apr 5, 2016
5052 posts
3583 upvotes
Calgary/Vancouver
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.
[OP]
Member
Jan 21, 2012
422 posts
183 upvotes
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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