bank transfers

Caped_Avenger

soolin wrote:

Look at it from the other way. A buyer buys say a car from you and transfers £5000 into your account via an internet transfer. A week later the buyer contacts the bank and says the payment was made incorrectly and instead of the payment going to you it should have gone to his mother and asks the bank to recall the money. That should show why payments made online and made to a valid account are not strictly recallable.

Yeah, but the bank will (well, should) always contact the beneficiary to discuss the issue before debiting the account.

ioscorpio

On A&L internet banking, after you have made a transfer you can change or stop a payment by going into the pending section.

MarkyMarkD

You can, whilst it's pending, but that doesn't help very much - you wouldn't normally realise you'd paid it to the wrong account until days later when the proper recipient queries the lack of funds in their account.