BACS: Right sort code, wrong account number

Sam_MW

I know this a common question (believe me I have searched and read a lot of the posts already).

However, I just have a couple of questions that have arisen from my searches.

First to put it in context. Someone owed me money. I gave them my sort code and account number. They paid by BACS. Unfortunately I incorrectly put a 9 rather than a 0 at the end of my account number. I only realised this yesterday and the payment was sent on Tuesday.

I have used the sort code and account number "checkers" and have discovered that there is no such account number with that sort code. Further, I have checked a multitude of other combinations (ie changing each number once, mixing the numbers round etc etc) and only my account number appears to be valid when I do that.

Therefore I would have thought that the payment would simply "bounce" and return to the sender having spent time in a suspence account. Is that correct?

I read somewhere that some banks have tried to guess who the money is meant to go and deposited it into the account they think it should go. How do they work this out? Is it by name? If not, anyone know how?

I am fortunate to have a bank manager who knows me personally and so I am going to contact him on Monday anyway, but would appreciate any response in the meantime so that I can try and enjoy my weekend!

DarkConvict

It will bounce, even if it is a valid Account number and sort code, the account holder name needs to match too.

So don't worry it should be back within 5-10 days, as it can take 5 days to arrive and 5 days to bounce back.

dunstonh

So don't worry it should be back within 5-10 days, as it can take 5 days to arrive and 5 days to bounce back.

Unless the sort code and account number are valid and the account is issued. In that case, someone unknown will get the money and it can be very difficult getting the money back.

It will bounce, even if it is a valid Account number and sort code, the account holder name needs to match too.

Name doesnt matter.

Hopefully, the sort code and account number mix is not in issue and it will bounce back.

QHSE

Hi Dunstonh, are you certain that the name doesn't matter only the Account number and sort code? Help would be much appreciated as i have applied for childcare through college and want the money sent to an account other than the name of the childcare provider as the money has already been paid to her. I have put the name of the chilcare provider but my partners A/C number and sort code, should the funds go through ok or will i have to change it? thanks

dunstonh

Yes, the system is automated so no human looks at the account name. Only on misposts (wrong account numbers for example) would reference to an account name take place.