How do I chase up money that should have been paid into my bank account?

cheralyn

Hi, I've been having a problem with an internet travel company for a very long time and just when I thought I'd gotten it sorted, they messed up on my refund. So...

A month and a half ago, the company I have been having a dispute with finally agreed to give me a refund. They asked for the bank account details to pay the money into the account, which I gave them - bank account number, name of bank account holder, bank address etc. They made the refund, then emailed me the scanned copy of the bank confirmation. However, on the confirmation I noticed that although the bank account details were correct, they had got the beneficiary name completely wrong (nowhere close to the bank account holder I had stated). I also still haven't received the money into the account. I phoned my bank, they said that I should get the company that did the refund to trace the payment from their bank. I contacted the company, they said they have transferred the money and I should contact my bank. And so it goes like this round in circles!!

Who should I be contacting to actually get this money into my bank account? Is there a possibility that my bank have the money and are holding it for whatever reason of their own?

dc110

If the bank details were correct but te name wrong you would normally expect it still to arrive unless was a particularly large amount which might be flagged for manual checking and therefore rejected if detaisl dont match.

Therefore payment was either returned to company or is being held in bank holding account. Bank can tell you which of these is happening. If its in a holding account they might be able to just put in into the aco!!!! once verifying what was incorrect, or they will return it to company.

Having said that - was it your bank account? How did you not notice that it wasnt your own name?

cheralyn

Thanks for replying so fast, dc110. Its actually my the bank account of the company I work for, so when the money hadn't arrived after a week and I asked the refunding company if there had been a problem, they sent this confirmation through, and thats when I noticed the name is wrong. The wrong name was their mistake, not mine. The problem is I don't trust the company that have made the payment at all, they are very inept and I've been chasing this refund for a year, so it wouldn't surprise me if they had received the money back and are just denying it!! Would my bank be able to tell me what had happened to the payment, as in, if it was in a holding account or would they keep a record of payments that they had returned?

dc110

Yeah bank can tell you if payment is held or has been returned.