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  • FIRST POST
    spags1909
    HELP - I made a "faster payment" to the wrong account
    • #1
    • 26th Oct 09, 7:56 PM
    HELP - I made a "faster payment" to the wrong account 26th Oct 09 at 7:56 PM
    Hi Everyone.

    I've just made a really stupid mistake!!! I know it was completely stupid and will never do it again but I really need some help to sort it now.

    Here is the problem:

    Today I made a "faster payment" via telephone to a Mr AAAAAA and I gave the sort code and account number to my bank. They then made the payment.

    I shortly after realised that I had the payment to the wrong account.

    I telephoned my bank (Barclays) and they told me there was nothing they could do. The sort code and account number I gave them existed so the payment was made and put into the wrong account.

    Is there anything I can do to get this money back? My bank said they can't/won't help me.

    I think I remember from somewhere (a long time ago) that if I gave the bank the name of the person who's account I wanted the money to go into for example Mr AAAAAA and gave the wrong account number I would be entitled to a refund. This is because its not going into Mr AAAAAA account but instead it goes into Mr BBBBBB account. Is this correct?

    If not, why do they need a name when paying someone. Surely this is for security! If not, they why do we need to give a name.

    Thanks guys
Page 1
    • stclair
    • By stclair 26th Oct 09, 8:06 PM
    • 6,243 Posts
    • 3,346 Thanks
    stclair
    • #2
    • 26th Oct 09, 8:06 PM
    • #2
    • 26th Oct 09, 8:06 PM
    Hi Everyone.

    I've just made a really stupid mistake!!! I know it was completely stupid and will never do it again but I really need some help to sort it now.

    Here is the problem:

    Today I made a "faster payment" via telephone to a Mr AAAAAA and I gave the sort code and account number to my bank. They then made the payment.

    I shortly after realised that I had the payment to the wrong account.

    I telephoned my bank (Barclays) and they told me there was nothing they could do. The sort code and account number I gave them existed so the payment was made and put into the wrong account.

    Is there anything I can do to get this money back? My bank said they can't/won't help me.

    I think I remember from somewhere (a long time ago) that if I gave the bank the name of the person who's account I wanted the money to go into for example Mr AAAAAA and gave the wrong account number I would be entitled to a refund. This is because its not going into Mr AAAAAA account but instead it goes into Mr BBBBBB account. Is this correct?

    If not, why do they need a name when paying someone. Surely this is for security! If not, they why do we need to give a name.

    Thanks guys
    Originally posted by spags1909
    Youll need to ask barclays to write too the other bank and ask them for the money back.

    When banks make payments its generally routed via the account number and sort code.

    Unlike BACS faster payments can not be recalled by the bank.

    How do you know the account number and sort code really exist? Was it going to another barclays account?
    Last edited by stclair; 26-10-2009 at 8:11 PM.
    • Floxxie
    • By Floxxie 26th Oct 09, 8:24 PM
    • 2,821 Posts
    • 5,266 Thanks
    Floxxie
    • #3
    • 26th Oct 09, 8:24 PM
    • #3
    • 26th Oct 09, 8:24 PM
    http://www.dailymail.co.uk/money/article-1219492/700-wrong-account-wont-return-it.html

    This gives you a few options but it depends on how much you have sent and how much it will cost you to get it back.
    • jonesMUFCforever
    • By jonesMUFCforever 26th Oct 09, 8:46 PM
    • 23,192 Posts
    • 10,539 Thanks
    jonesMUFCforever
    • #4
    • 26th Oct 09, 8:46 PM
    • #4
    • 26th Oct 09, 8:46 PM
    You will not like this answer but you have no recourse from your bank they have done nothing wrong.
    You may have to get a court order (very expensive) to get the receiving bank to name the customer even then if they have spent it will it be worth it?
    What goes around - comes around
    give lots and you will always receive lots
  • pcombo
    • #5
    • 26th Oct 09, 9:32 PM
    • #5
    • 26th Oct 09, 9:32 PM
    lol wish it was my account that got. Tbh use online banking and mistakes wont happen.
  • flyingscotno1
    • #6
    • 26th Oct 09, 10:01 PM
    • #6
    • 26th Oct 09, 10:01 PM
    lol wish it was my account that got. Tbh use online banking and mistakes wont happen.
    Originally posted by pcombo
    Unless you mistype
  • spags1909
    • #7
    • 26th Oct 09, 10:28 PM
    • #7
    • 26th Oct 09, 10:28 PM
    Thanks for the replies everyone.

    I'm in no way blaming my bank. I was just hoping they could help me by writing to the other bank. The other bank could then check what account (and name) it went into and then decide wether to refund it or not!

    Unfortunately, they won't do that.

    I guess I either forget about the money or report it to the police.

    Does anyone else reccommend anything else?

    Thanks Again
    • stclair
    • By stclair 26th Oct 09, 11:12 PM
    • 6,243 Posts
    • 3,346 Thanks
    stclair
    • #8
    • 26th Oct 09, 11:12 PM
    • #8
    • 26th Oct 09, 11:12 PM
    Thanks for the replies everyone.

    I'm in no way blaming my bank. I was just hoping they could help me by writing to the other bank. The other bank could then check what account (and name) it went into and then decide wether to refund it or not!

    Unfortunately, they won't do that.

    I guess I either forget about the money or report it to the police.

    Does anyone else reccommend anything else?

    Thanks Again
    Originally posted by spags1909
    The best thing to do is to ask barclays to write to the bank concerned for you and try and reclaim the money back.

    Plus how do you know the bank details really exist?
  • rb10
    • #9
    • 26th Oct 09, 11:32 PM
    • #9
    • 26th Oct 09, 11:32 PM
    If you are sure that the account actually exists, then you could always make contact with the recipient yourself? Write a letter to them, and then take it into a branch of the bank that holds their account asking them to forward it in the stamped envelope that you give them to the account holder.
    • jonesMUFCforever
    • By jonesMUFCforever 27th Oct 09, 12:46 AM
    • 23,192 Posts
    • 10,539 Thanks
    jonesMUFCforever
    If you are sure that the account actually exists, then you could always make contact with the recipient yourself? Write a letter to them, and then take it into a branch of the bank that holds their account asking them to forward it in the stamped envelope that you give them to the account holder.
    Originally posted by rb10
    Good idea!
    However you are dependent on the account holder to respond and repay. There are plenty today that won't!
    What goes around - comes around
    give lots and you will always receive lots
  • agsnu
    Plus how do you know the bank details really exist?
    Originally posted by stclair
    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.
  • ray123
    It may be possibe to track down the branch location via the sort code
    • stclair
    • By stclair 27th Oct 09, 7:38 PM
    • 6,243 Posts
    • 3,346 Thanks
    stclair
    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.
    Originally posted by agsnu
    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.
    • G_M
    • By G_M 4th Dec 09, 5:31 PM
    • 37,051 Posts
    • 40,979 Thanks
    G_M
    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
    • By JPD23 4th Dec 09, 9:50 PM
    • 42 Posts
    • 6 Thanks
    JPD23
    Plus how do you know the bank details really exist?
    Originally posted by stclair
    https://www.afd.co.uk/tryit/bank/Validate.asp?Process=Account
  • agsnu
    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).
    Originally posted by G_M
    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
    • By cottager 5th Dec 09, 8:38 PM
    • 932 Posts
    • 334 Thanks
    cottager
    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.
    Originally posted by agsnu
    Sounds more likely

    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
    • realaledrinker
    • By realaledrinker 5th Dec 09, 11:41 PM
    • 1,463 Posts
    • 470 Thanks
    realaledrinker
    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.
    Originally posted by agsnu
    They are implementing SAP Banking - first in UK.
    Ethical moneysaver
    • realaledrinker
    • By realaledrinker 5th Dec 09, 11:44 PM
    • 1,463 Posts
    • 470 Thanks
    realaledrinker
    I guess I either forget about the money or report it to the police.
    Originally posted by spags1909


    On what grounds?
    Ethical moneysaver
  • henryg
    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!
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