Process for awaiting TC. — Multiples
Version 1
15" Dec 2005
Owner: Marie Cockett
What are our options at the end of the Branch Trading Period if
one of our branches reveals a discrepancy in the account?
Branch Trading does not change the requirement to make good
losses.
All your branches will need to Assign to nominee any
discrepancies that have been identified and committed to local
suspense at the end of the Branch trading period. These will then
appear on your monthly request for payment.
If, a branch has a discrepancy for an amount over £150, and they
can provide evidence that they should receive a TC for an error
that has been made for the corresponding amount the following
process applies:
At the end of branch trading the branch will advise their
operational manager with full details of the error viz. product, date
and details of transaction and value. The branch should use the
assign to nominee option on local suspense that transfers the
amount to your central account.
Your operational manager should then advise your multiple
contact point in PBA who, if full details and evidence are available,
will block the amount on your central account and provide a
reference number whilst investigations take place and if
appropriate the issue of a TC is pursued. Once the offset TC is
issued your branch will use the Assign to nominee option. This will
effectively remove the value of the discrepancy held on your
central account.
If after investigation PBA find no error to compensate for the
amount held you will be advised and the item will be unblocked
from your central account and recovery will be sought via your
next request for payment statement.
Equally, if you do not have evidence to support your claim you will
POL00030563
POL00030563
POL00030563
POL00030563
remain liable for the discrepancy.
The current processes for raising queries on miskeyed items e.g.
Automated payment products, are unaffected.