Do the Banks pay up by cheque or not?

My money was paid back into the bank account i was claiming for and the text against the payment read "goodwill gesture" lol

Usually depends on if the account is closed or not.

If the account is closed then the bank will most likely pay by cheque. Although in some circumstances they have been known to pay the reclaimed charges direct to the DCA.

Although if you get to the stage where you have commenced legal proceedings then if you win your case they can only repay you by cheque anyway.

Also, if they wish to settle outside of court, which 99% of the time they do, you can stipulate how you want refunding in order for you to drop the case.

TBH they are not likely to pay into an account that is closed. More likely they will send a cheque.

iwantabargain wrote:

Yep i am sure they will send a cheque if your bank account is closed.

My lloyds tsb account was transfered to a collection agency and the refund amount was filtered through. I didn't mind as long as I got the monies back. All clear now, thank god

Thought these other posts might help but they don't. However if there is an overdraft involved they may withdraw this if the money isn't paid into the account? Someone else might know the answer.