Do the Banks pay up by cheque or not?

foxij

Can anyone tell me whether the Banks usually pay up by cheque? Or do they put the money back into the account your claiming from?

foxij :A

iwantabargain

My money was paid back into the bank account i was claiming for and the text against the payment read "goodwill gesture" lol

oldwiring

If you're in OD , they'd not be very savvy to send you a cheque IMO.

sgx.saint

Usually depends on if the account is closed or not.

If the account is closed then the bank will most likely pay by cheque. Although in some circumstances they have been known to pay the reclaimed charges direct to the DCA.

Although if you get to the stage where you have commenced legal proceedings then if you win your case they can only repay you by cheque anyway.

Also, if they wish to settle outside of court, which 99% of the time they do, you can stipulate how you want refunding in order for you to drop the case.

foxij

iwantabargain wrote:

My money was paid back into the bank account i was claiming for and the text against the payment read "goodwill gesture" lol

Thanks for the info. But, what if you have an account that is closed?

foxij :T

inmypocketnottheirs

TBH they are not likely to pay into an account that is closed. More likely they will send a cheque.

iwantabargain

Yep i am sure they will send a cheque if your bank account is closed.

raq

iwantabargain wrote:

Yep i am sure they will send a cheque if your bank account is closed.

My lloyds tsb account was transfered to a collection agency and the refund amount was filtered through. I didn't mind as long as I got the monies back. All clear now, thank god

earlofbarrett

Lloyds have finally admitted defeat and will pay all my friends charges back in full, however they are insisting it goes into her account but she wants a cheque (because of her overdraft!!!) where does she stand?

Cheers!

Edinburghlass_2

Thought these other posts might help but they don't. However if there is an overdraft involved they may withdraw this if the money isn't paid into the account? Someone else might know the answer.

oldwiring

If one thinks about it, the bank will be putting her in eactly the same postion she would have been in, had it not applied charges to her account. It is not daid if the o/d is in orfer or not, but especially if it is not, why should the bank be oblifed to send her a cheque to its own detriment? Personally I am witht eh bank here.