LawAnswers.com.au - Australia's #1 Legal Community

LawAnswers.com.au is a community of 10,000+ Australians, just like you, helping each other.
Ask a question, respond to a question and better understand the law today!
Join us, it only takes a minute:

VIC Funds Gone Missing from St George Bank - Fraud?

Discussion in 'Criminal Law Forum' started by DAN-YI LEE, 27 June 2016.

  1. DAN-YI LEE

    DAN-YI LEE Member

    Joined:
    27 June 2016
    Messages:
    4
    Likes Received:
    0
    I have 2 accounts with St George Bank in Melbourne in 2005. Currently, it shows 70-80% of funds are missing in both accounts. Could St George Bank kindly investigate it and I am in a difficult position as I have no legitimate paper trail?

    I have spoken to the customer service who has lodged a complaint for me with the manager, as this is urgent and I do not feel safe transferring funds into my St George bank account as funds go missing so I am also lodging a complaint on the website.

    I left $3000-3500 in my cash management account and $1000 to $1500 in my student account in 2005. As I have not transferred any funds nor used any funds, could you kindly investigate whyI currently have only about $500 and $200 respectively? Where did the money go and is there a security breach or fraud?
     
  2. Ponala

    Ponala Well-Known Member

    Joined:
    10 February 2015
    Messages:
    169
    Likes Received:
    19
    Why not get copies of statements from the bank and go through them and see what is happening with your account. You will then see the transactions that are occurring and will be able to make a decision yourself if it is fraud or something else. You may have had a crappy account with lots of fees that ate up your money.
     
  3. DAN-YI LEE

    DAN-YI LEE Member

    Joined:
    27 June 2016
    Messages:
    4
    Likes Received:
    0
    Thanks.

    I left in 2005 with $3000-3500 as the minimum to avoid monthly fees, so even after 11 years, I would think $3000-3500 is still in my account. How it got to $500 without my using or transferring funds cannot be explained. I called the customer service, who said that statements go up to only 7 years ago. I do not know if they can retrieve statements up to march 2005. St George merged with Westpac a few years back due to the global financial crisis.

    By right, St George should keep statements of customers. What would you advise in this case about funds gone missing, how can I get my funds back, am I protected legally? What about if it was fees eating up my funds, knowing that I put $ 3000-3500 in my account knowing that the minimum to have no monthly fees is $3000, that should have lasted till now and beyond since I have not used nor transferred funds for 11 years, what would you advise to get my funds back, am I protected legally?

    Thanks.
     
  4. AllForHer

    AllForHer Well-Known Member

    Joined:
    23 July 2014
    Messages:
    2,319
    Likes Received:
    423
  5. DAN-YI LEE

    DAN-YI LEE Member

    Joined:
    27 June 2016
    Messages:
    4
    Likes Received:
    0
    My main question is am I protected from St George taking my money?

    No, it is not about matters with ASIC. It is about errors in my accounts that gets to be deducted and St George keeping the errors that result from now instead of $3000-3500 is now $500 and St George does not release the cause of the discrepancy and instead wants me to accept $500 which I cannot do since I put $3000-3500 in the bank thinking it is safe.

    The scenario is as foĺlows:

    I left Melbourne in 2005 with $3000-3500 as the minimum to avoid monthly fees, so even after 11 years, I would think $3000-3500 is still in my account. How it got to $500 without my using or transferring funds cannot be explained. I called the customer service, who said that statements go up to only 7 years ago. I do not know if they can retrieve statements up to march 2005. St George merged with Westpac a few years back due to the global financial crisis.

    By right, St George should keep statements of customers. What would you suggest in this case about funds gone missing, how can I get my funds back, am I protected legally? What about if it were fees eating up my funds, knowing that I put $ 3000-3500 in my account knowing that the minimum to have no monthly fees is $3000, that should have lasted till now and beyond since I have not used nor transferred funds for 11 years, what would you suggest to get my funds back, am I protected legally?

    Thanks.
     
  6. DAN-YI LEE

    DAN-YI LEE Member

    Joined:
    27 June 2016
    Messages:
    4
    Likes Received:
    0
    My thinking is the problem is with St George.

    How do I ask St George to show how by maintaining $3000-3500 in the first place, instead of remaining so for 11 years till now in 2016, how the original amount of $3000-3500 got changed, deducted over the years till it has $500 when it should still be $3000-3500 since I have never used nor transferred funds from my account?

    I am talking about $300p-3500. I called St George and St George keeps talking about $500 which I feel is irrelevant. I just wonder is this St George's way of avoiding the issue that it is taking my money so that St George can pocket the difference of $2500-3000 which is 70-80% of my funds gone missing?

    I must ask, what can I as an individual do to assert my rights to St George bank or a third-party organisation like the financial ombudsman service to help me assert my rights to St George?

    Could you please suggest as $2500-3000 of my personal money is at stake here?

    Thanks.
     

Share This Page

Loading...