Money Paid to wrong bank account

stclair

I think if the bank do it in error they are able to reverse the transaction or contact the appropriate bank.

However if the customer makes the error its a different cattle of fish.

DVardysShadow

ChiefGrasscutter wrote: »

I really do wish the FSA would regularise this issue and come up with a definitive course of action to take plus applicable charges for sortingo out the mess. You will understand the banks cannot simply "remove money from peoples accounts on your say so" so there has to some sort of due process taking place.

Yes, I agree.

A simple measure which should be applied is to give every bank account a public password, so that anyone paying DVardysShadow's account 12345679 would also have to give the public password 'monkey puzzle'. Anyone who makes the mistake of paying money to account 12345678 using the password 'monkey puzzle' would find the transaction bounced.