So I made a mistake.

chirpchirp

I did a transfer of a considerable amount of money but the sort code was wrong on internet banking. Luckily it went to an invalid account. It will take 8 days to bounce back? Why so long?

I realise I'm very lucky, what if it had gone to a real account? Would I have got it back?

I did check my typing 3x and checked the number with the company I was paying it to 2x before beginning to make the payment so not sure where it went wrong.

ashbash11

I've done this before and it took a while, but my money was found - HSBC put all of the money paid into the wrong account or an invalid account into a 'holding account' and so they managed to track it down (I had kept my receipt to prove I paid it in). I can't remember how long it took, but better to get the money back than to lose it altogether.

Mikeyorks

Because it will bounce into a holding account. And need to be manually transferred back.

If you'd hit an active account ....... less likelihood of getting it back without a serious struggle. Hence why you should always do a small test value to a new payee. Then you re-use the resultant bill payment data for the balance - once proven.

Fiddlestick

chirpchirp wrote: »

I realise I'm very lucky, what if it had gone to a real account? Would I have got it back?

"It depends".

If you gave the bank the wrong details then they are not liable - they were just acting on your instruction...

exel1966

chirpchirp wrote: »

Why so long?

I realise I'm very lucky, what if it had gone to a real account? Would I have got it back?

I did check my typing 3x and checked the number with the company I was paying it to 2x before beginning to make the payment so not sure where it went wrong.

Because it will go into a holding account.

Maybe, maybe not. The bank would have to contact the account holder and request it be returned, they cannot forcibly remove it in normal circumstances, though the account holder would be committing criminal offences if they knowingly retained funds that weren't theirs or removed and spent them.

If the account holder said the funds were expected in the account the only way you'd be able to get it back would be to go via the courts.

iblametheparents

I've seen a Faster Payment transfer bounce bank within a couple of seconds of me doing it for a customer.

karenlyth25

Ah this has happened to me. I stupidly entered 68 in the account number instead of 86 and unfortunately this was another VALID account. So I have been waiting 3 weeks and Virgin have been trying to help but Halifax are being a nightmare because due to data protection they cannot look into this persons account without their permission. I am stuck between the two and no-one wants to help because it was my mistake.

I just hope the person who received this money is honest and will return it. I am devestated as I double check and triple check everything. So I am unsure it happened....but it has.

pmduk

I hope the OP gets their money back.

However these cases appear to be getting more common.

Perhaps banks should be pointing out that making a mistake in inputting details is similar to giving money to a stranger in the street. Often with a similar chance of getting a refund.