Big error:: Help

scallypea

Help.
Does anyone know the answer to this...
If sum of money was transferred via instant internet banking the right benificiary's name was entered but the wrong bank acount details were also entered in error. The money was then transferred into the wrong persons bank account using the account details and not the Beneficiary name. If the money was then removed from the bank account by the wrong benificary before l realized what had happened. If he banks involved were not related. Both banks then claiming that they are not responsiable for the missing money as it was a 'fast track' payment. If a sum of money was used by the wrong benifiery to pay an overdraft off. If then this bank returned this overdraft sum, are they accepting responsibility??? Who would be responsible???
Any ideas anyone???

Lokolo

The person who is responsible is the person who sent the money wrongly.

scallypea

Even if the true beneficiary's name did not match the bank details? Even if the person whom removed the money knew it was not theirs?
thanks

scallypea

If the sum removed was a large sum?

crazyguy

What is a large sum ?

You could try to write to the bank that the money was paid to and see if they will speak with the account holder, they may have spent it all and could be like getting blood from a stone.

p00hsticks

If I were in these circumstances, I think I would write an open letter to the wrongful recipient of the money (asking the banks involved to forward it on to them) pointing out that the money was not meant for them, and saying that if it is not returned to you via the normal banking process you will treat it as theft and be reporting it to the police as such.

Alternatively you could ask the bank to provide you with the customers name and address in order to allow you to sue them for return of the money - I don't believe that the banks involved can use the Data Protection Act as an excuse not to give it to you in cases where you need the information in order to carry out a legal process such as this.

dzug1

The claim (which is legally strong but may be difficult to enforce) is against the person who has stolen the money.

People have been jailed for retaining money in this circumstance - report it to the police as theft if they won't pay it back

The bank are not responsible - no name matching takes place. You can take them to court to force them to release details of the person who actually has the money, but that's as far as it goes.

ChiefGrasscutter

Only accounts numbers and sort codes are matched.

Names are not matched on bank transfers as it's very difficult to do.
It may be for instance that a person has an account whose full name is Mr & Mrs J P Jones (Household account)
So what happens when a payment is made to Mr & Mrs J Jones. Is it rejected?
What about Mr & Mrs JP Jones - Household Account?
You can see why recipient names are not checked......

Funkyfreddy

scallypea wrote: »

Even if the true beneficiary's name did not match the bank details? Even if the person whom removed the money knew it was not theirs?
thanks

Your responsible for sending it to the wrong person - your bank only acted on your instructions. You always have the option of checking details before hitting the "Send" button.

Do you mean you actually used the account details of somebody else and didn't just incorrectly enter the sort code/account ?

If it was the latter just getting one digit or so wrong wouldn't give you a valid account.

If it was the latter then I take it you must have some previous contact with the benificiary in some way (you have their account details after all) so surely the first step would be to ask for it back - on the basis they did actually receive it.

Should you have no contact details (?) then write to the receiving bank with details of your error asking them to forward you request for repayment to the actual recipient.

FF

Mr_Soft

If a large sum of money appears in your account that is clearly not yours, and you then spend it, you are guilty of theft. The money was credited to you by mistake. The responsibilty is with the person who erroneously sent it, but it still isn't yours. It still belongs to the sender. It would be reasonable for them to try to have their money returned. The bank will have a record of the account it was sent from and to. The law will enable that information to be discovered, but only if the law is used, otherwise the banks will probably do nothing to help.

Wyndham

p00hsticks wrote: »

Alternatively you could ask the bank to provide you with the customers name and address in order to allow you to sue them for return of the money - I don't believe that the banks involved can use the Data Protection Act as an excuse not to give it to you in cases where you need the information in order to carry out a legal process such as this.

The Data Protection Act still applies - how does the bank know that the customer asking didn't mean to send the money? - it has to be proven as theft before they will give out details, and then only to bodies like the police, not to an individual.

How would you like it if you bank gave out your details because someone had asked for them?