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Bank Error with €30,000

My nineteen-year-old got a statement from the bank to sat that he has a €30,000 withdrawal from his account which he never activated. We all got a dreadful shock at the time. He was told by the bank that an internal mistake was to blame. Should we have pursued this? Babs, Leixlip

Hi Babs. 

 

Because your son did not actually suffer financial loss, I don’t see there being any entitlement to damages. 

 

I do, however, see this as a possible breach of banking regulations and I suggest you contact the Financial Services Ombudsman – www.financialombudsman.ie - for further directions. Who knows - the bank might make some offer as a gesture?

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