POL00083951
POL00083951
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
remain liable for the discrepancy.
The current processes for raising queries on miskeyed items e.g.
Automated payment products, are unaffected.
POL00083951
POL00083951