closed account

lilolil69

Hi im a newbe and i really would love some advice!
I have had a large payment sent to a now non existent account number with lloyds TSB.. they have no record of my old buisness account at all as it was closed over 2 yrs ago.. even when giving them the old account number that the money has been sent to they cannot find it.The company that has sent it will not reissue the payment to me until it has bounced back from wherever it has ended up.. this however was a week ago and i am being pushed from pillar to post with nobody knowing where this money has gone! it was sent by BACS transfer and i wondered how long this takes to be returned to sender? Anyones advice would be greatly received

jambosans

BACS takes three working days, so, I'd imagine, once it reaches LTSB, it will faff around for a few days, be turned around, and sent back (which takes another three working days). I would wait until the end of the week, if the company have still not received it back, get in contact with Lloyds TSB and ask them to speak with their "Payments & Clearings" (or something to that effect). Generally speaking this is a back office department who can see inbound and outbound payments, banks will also have suspense accounts where payments to closed accounts go before being sent back.

lilolil69

:)Thankyou so much that has made me feel slightly more relaxed as i think i maybe worrying a little too soon.

rb10

... and if Jambosan's advice fails, then there's even then another way out.

You can ask the company that sent the money to ask their bank to put a trace on the money, which should identify where it ended up.