The Student Room Group

Student finance

My bank was closed a couple days before my first student finance payment was scheduled back in september, my bank reassured me that they sent back the payment and showed me proof via a bank statement the funds were sent to student loans company 607080 10027289 , yet student finance keep telling me they haven’t received anything and i’ve been back and fourth with my bank and student finance as i have been kicked out of my accommodation and still unable to attend university also talked to financial ombudsman service who also told me that this payment was sent back to student finance !

Reply 1

Original post
by nathanvo11
My bank was closed a couple days before my first student finance payment was scheduled back in september, my bank reassured me that they sent back the payment and showed me proof via a bank statement the funds were sent to student loans company 607080 10027289 , yet student finance keep telling me they haven’t received anything and i’ve been back and fourth with my bank and student finance as i have been kicked out of my accommodation and still unable to attend university also talked to financial ombudsman service who also told me that this payment was sent back to student finance !

Hi there,

On your online account view payments, does the payment show paid or failed? When you have called what did the advisor tell you?

Thanks,
Claire

Reply 2

Original post
by Claire SFE
Hi there,
On your online account view payments, does the payment show paid or failed? When you have called what did the advisor tell you?
Thanks,
Claire


for the last month student finance have just said there doing a trace it’s been more than 30 days , and it says paid

Reply 3

Original post
by nathanvo11
for the last month student finance have just said there doing a trace it’s been more than 30 days , and it says paid

If we're doing a trace you will need to wait till we have completed this. it can take 30 WORKING days which is 6 weeks.

Thanks,
Claire

Reply 4

Original post
by Claire SFE
If we're doing a trace you will need to wait till we have completed this. it can take 30 WORKING days which is 6 weeks.
Thanks,
Claire


i’ve just checked the date it was started it has been more than 6 weeks and genuinely still no update and when i do call them it’s as if they don’t take me serious

Reply 5

Original post
by nathanvo11
i’ve just checked the date it was started it has been more than 6 weeks and genuinely still no update and when i do call them it’s as if they don’t take me serious

You can monitor this via your bank account while still within the 30 working day window. If during this process the payment status online changes to 'failed', this means the bank have returned the payment to us and will automatically be resubmitted to the student. If the funds are not recovered by the end of the 30 working days, the Trace Process will be closed.

Thanks,
Claire

Reply 6

Original post
by Claire SFE
You can monitor this via your bank account while still within the 30 working day window. If during this process the payment status online changes to 'failed', this means the bank have returned the payment to us and will automatically be resubmitted to the student. If the funds are not recovered by the end of the 30 working days, the Trace Process will be closed.
Thanks,
Claire


just came off the phone with student finance they have raised the case to the payment assurance team , but they gave me no time scale , i think the money is in a student finance suspense account but with them giving me no time scale i have no faith this will be sorted soon and if you could offer any advice on what i could do moving forward

Reply 7

Original post
by nathanvo11
just came off the phone with student finance they have raised the case to the payment assurance team , but they gave me no time scale , i think the money is in a student finance suspense account but with them giving me no time scale i have no faith this will be sorted soon and if you could offer any advice on what i could do moving forward

There is no timescale as it depends on the team responding to us. I would monitor your online account every couple of days and if you don't see anything next week, then call us back to see if there is an update.

Thanks,
Claire

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