Loan set up with wrong bank account - help ?

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callumd94
callumd94 Posts: 1 Newbie
in Loans
Hi Everyone,

I made a bit of a stupid mistake the other day

I recently applied for a Short Term Loan with Pounds to Pocket. When I applied I accidentally put in the wrong Account Number, however I did put the correct Sort Code in. When it came to the day of getting my loan I received an email stating that it has been paid but there was no money in my account.

Has anyone been in this situation before ?
What are the chances of me actually depositing it into someone else's account ?
Can Anyone help, what do I do ?

Any help would be greatly appreciated.

Many Thanks,
Callum
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  • DCFC79
    DCFC79 Posts: 40,598 Forumite
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    Well speak to the lender would be your first port of call.

    Was it just 1 digit out ?
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    DCFC79 wrote: »
    Well speak to the lender would be your first port of call.

    This.

    The internet is great and all, but sometimes you just need to pick up the phone and speak to the right person.
  • molerat
    molerat Posts: 31,866 Forumite
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    Put the sort code and account number in here to find if it could be a real account (as well as contacting the lender) https://www.sortcodes.co.uk/
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    If there is no existing account number it will 'bounce' back (as in the case of my son who provided an incorrect number to his payroll). If it does exist, one would 'hope' (guess) that the receiving bank will return the payment given that the name would be incorrect.
  • ~Beanie~
    ~Beanie~ Posts: 3,043 Forumite
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    edited 22 January at 3:51PM
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    [quote=[Deleted User];73215545]If it does exist, one would 'hope' (guess) that the receiving bank will return the payment given that the name would be incorrect.[/QUOTE]

    Banks don't check names against payments so if the account number and sort code were valid,the money would go into that account.
    :p
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
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    callumd94 wrote: »
    Hi Everyone,

    I made a bit of a stupid mistake the other day

    I recently applied for a Short Term Loan with Pounds to Pocket. When I applied I accidentally put in the wrong Account Number, however I did put the correct Sort Code in.

    Any help would be greatly appreciated.

    Many Thanks,
    Callum

    I'm sure they've heard this story numerous times before.

    Accident my foot!
  • seashore22
    seashore22 Posts: 1,443 Forumite
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    What would be the advantage to the op though?

    I'm not saying that there isn't one and I'm genuinely interested in why you think it's dodgy.

    The loan company isn't going to pay out another chunk of money on the basis of a mistake by the op.
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
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    seashore22 wrote: »
    What would be the advantage to the op though?

    I'm not saying that there isn't one and I'm genuinely interested in why you think it's dodgy.

    The loan company isn't going to pay out another chunk of money on the basis of a mistake by the op.

    My error. I thought we were talking direct debits.
  • Clive_Woody
    Clive_Woody Posts: 5,855 Forumite
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    seashore22 wrote: »
    What would be the advantage to the op though?

    I'm not saying that there isn't one and I'm genuinely interested in why you think it's dodgy.

    The loan company isn't going to pay out another chunk of money on the basis of a mistake by the op.
    A mate with an account at the same branch (same sort code), money ends up in his account, OP denies receiving any funds, demands loan is cancelled. Lender tries to recover loan but no joy. OP and mate split the loan 50/50 with nothing to repay.

    May or may not work, I didn't put a huge amount of thought into it.
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
  • CKhalvashi
    CKhalvashi Posts: 12,060 Forumite
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    Clive_Woody wrote: »
    A mate with an account at the same branch (same sort code), money ends up in his account, OP denies receiving any funds, demands loan is cancelled. Lender tries to recover loan but no joy. OP and mate split the loan 50/50 with nothing to repay.

    May or may not work, I didn't put a huge amount of thought into it.

    I had 2 current accounts at the same branch of the same bank with the same sort code, one of the account numbers started 67634, other started 57918. They were opened at the same time as together they could be used for double the interest.

    If they're obviously different numbers then there is huge suspicion, and I doubt OP and a mate would have accounts with little enough difference not to cause this.

    One was a 'premium' account as at the time it was cheaper than buying insurances separately and the other was a standard one, however as the premium one was downgraded later on into a 'standard' account, I don't see how it can make any difference in account numbers.
    💙💛 💔
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