BACS: Right sort code, wrong account number

Sam_MW

(Think I posted it in the wrong forum originally).

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

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!

stclair

One of two things could happen it could bounce back to the sender OR the funds may just sit in the recipents suspense account until its claimed.

withnell

stclair wrote: »

One of two things could happen it could bounce back to the sender OR the funds may just sit in the recipents suspense account until its claimed.

Just to clarify, the "recipents suspense account" means the suspense account at the receiving bank, where payments that do not match up to an account number will sit.

If the payment isn't returned to the guy who sent it, I think they'll have to ask their bank to claim it back from your bank