HELP - I made a "faster payment" to the wrong account

2

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  • ray123
    ray123 Posts: 659 Forumite
    It may be possibe to track down the branch location via the sort code
  • stclair
    stclair Posts: 6,844
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    agsnu wrote: »
    Because with the Faster Payments infrastructure, the sending bank gets a confirmation that the amount was credited successfully... So Barclays can see that the credit was successful.

    The only reason I ask is because I had a very similar case the other week. The sort code was correct but the account number wasn't and the funds was just sitting in a holding account.
    Im an ex employee RBS Group
    However Any Opinion Given On MSE Is Strictly My Own
  • G_M
    G_M Posts: 51,977
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    Interestingly this is reason Nationwide give me repeatedly for not rolling out FPs outbound. Because once it's gone, it's gone and they don't trust their customers not to make mistakes and then holla (my words/interpretation).
  • JPD23
    JPD23 Posts: 42 Forumite
    stclair wrote: »
    Plus how do you know the bank details really exist?

    https://www.afd.co.uk/tryit/bank/Validate.asp?Process=Account
  • agsnu
    agsnu Posts: 1,457 Forumite
    G_M wrote: »
    Interestingly this is reason Nationwide give me repeatedly for not rolling out FPs outbound. Because once it's gone, it's gone and they don't trust their customers not to make mistakes and then holla (my words/interpretation).

    As I understand it, the reason Nationwide haven't rolled out FPs properly is because their computer systems are ancient and decrepit and they're struggling with a grand plan to improve them but it's all massively behind schedule.
  • cottager
    cottager Posts: 934 Forumite
    agsnu wrote: »
    As I understand it, the reason Nationwide haven't rolled out FPs properly is because their computer systems are ancient and decrepit and they're struggling with a grand plan to improve them but it's all massively behind schedule.

    Sounds more likely :D

    There'll always be a risk of human error with FP, as with many other things, but the banks (or b/soc in Nationwide's case) who sign up to it shouldn't be using that as any excuse to lag behind. On that basis they'd never do it, and it simply doesn't wash in view of the full unfettered FP service available elsewhere.

    I'm constantly frustrated with those 'dragging their feet', but I do appreciate FP is hugely expensive to implement and not as simple as flicking a switch and there it is.
    ~cottager
  • agsnu wrote: »
    As I understand it, the reason Nationwide haven't rolled out FPs properly is because their computer systems are ancient and decrepit and they're struggling with a grand plan to improve them but it's all massively behind schedule.

    They are implementing SAP Banking - first in UK.
    Ethical moneysaver
  • spags1909 wrote: »
    I guess I either forget about the money or report it to the police.

    :rotfl:

    On what grounds?
    Ethical moneysaver
  • henryg_2
    henryg_2 Posts: 16 Forumite
    Online banking is best because you set up your paying information and it remembers it for next time you need to pay the same person. All you have to do is be sure to enter the correct numbers the first time around, and this is more fool-proof as the numbers are there in front of you to see before submitting!
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE Forum Team
  • renegade
    renegade Posts: 1,282 Forumite
    I use FP to pay my bills, find it very useful and fool-proof, that is until I was the fool and paid a bill twice to the same company, for over 150 quid. When I rang the company concerned they just said , well you are now in credit to the tune of 150quid, spend it as we dont refund FP . Just as well it's xmas and I need to stock up on xmas food. But what a deep hole it would have made in my account had I not intended to use my CC again this year!
    Yes FP is foolproof providing the user does not suffer from dementia like me! Joke!
    You live..You learn.:)
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