A GRANDAD has told how he has been left living in a near derelict house for more than a year after a bank paid him £110,000 – and then took it all back.
Bungling Barclays wrongly paid thousands of pounds into Russell Alexander’s account leaving him to believe he had inherited some money from a long-lost relative.
SWNSRussell Alexander’s bank accidentally put £110,000 in his accounty[/caption]
SWNSHe has been living in a near dereclit house for more than a year[/caption]
But cautiously the 54-year-old checked – and all seemed correct.
Except it turned out that the money from a friend’s legacy had been paid to him in error.
Barclays withdrew the cash from his account – at first taking an extra £6,000 which they replaced – leaving Russell in a financial muddle.
The Financial Ombudsman decided that Barclays should pay Russell £500 in compensation – which he described as “outrageous and insulting” given the problems the bank’s error had caused.
Now Russell is facing an uncertain future.
His house would be worth more than half a million pounds if it was fully-renovated – but he is struggling with health issues.
He said: “I had been with the bank for more than 40 years and when I queried the money they said it was mine to spend.
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“I had planned to renovate the property which cost me £250,000, live in it and then use it to let out to holiday-makers.
“But now my future has been left completely up in the air – I have no money and a half-finished property. I would never have gone into this if I had known that the money wasn’t mine.
“I double-checked and asked the bank and they insisted it was genuine – right up to the day they suddenly decided it wasn’t.”
A spokesman for Barclays said: ”We are sorry to hear about this customer’s experience. It is evident that the sender of the funds selected the wrong recipient from their payee list when completing the on-line payment instructions.
“Unfortunately when the recipient queried the unexpected funds received in his account he was incorrectly advised he could keep the funds.
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“Subsequently the funds were removed from his account after a claim from the noriginasl sender.
“However due to our errors an additional £6,000 received was incorrectly removed. This has been returned to the customer.”
SWNSHe was given £500 in compensation[/caption]