Big error:: Help

tagq2

From the sender's PoV: there'll be something in your T&C about how the destination is determined only by the "unique identifier" which for UK bank accounts is account number and sort code. Also stuff about best efforts recall if asked may charge etc. - if you find the term, make sure to quote it in case they fob you off with a technically incorrect, "We cannot do anything at all."

From the receiver's PoV: it's not legally yours and you may be criminally liable if you simply spend it.

And one wrong number in the sort code won't necessarily provide an invalid sort code + account number combination. It's merely more likely to.

scallypea

If the sum of money was Exceeded 9,900 pounds.If the wrong beneficiary's bank was going to refund 1,000. pounds. Would the bank be excepting responsibility?
If all this occured and police, banks and Financhial Ombidsman involved. Surely one of these groups should help??
Also Not sure why the banks require a beneficiary's nae if it is not used???

eslick

ask the bank to recall the funds, they do it every day, it relies on the beneficiary giving debit authority to their bank to take the money out of their account. If they refuse time to speak to a lawyer.

thenudeone

eslick wrote: »

ask the bank to recall the funds, they do it every day, it relies on the beneficiary giving debit authority to their bank to take the money out of their account. If they refuse time to speak to a lawyer.

You cannot recall a faster payment like you can with BACS.

Biggles

You keep saying 'If'. Can you stick to stating facts, it would be so much clearer.

Are you saying you know the identity of the receipient, and that s/he has withdrawn the money? If so, how did you find out, the banks won't tell you?

scallypea

I say 'if' but treat them as facts.
If I have had stupidly kept some bank details of a person whom l had purchased something from on the internet. In error, these details were used to transfer some funds. So true Beneficiary's name but wrong account details.!!!Already tried to contact the person whom owns the account the money in error was put into, but no joy!! But mother of this person called to say money all spent!!
Still need to know if the bank is excepting respnsiblity if they have given me a small amount of it back??

david39

I understood that the first payment to a new recipient never goes by faster payment - to avoid this precise problem. It gives time for the sender to realise a mistake has occurred and it can still be recalled by the sending bank.

If the payment went by FPS, then the sender must have sent a previous payment, otherwise it would have gone by BACS - so did the earlier payment get stolen, too?

Also, how does the sender know that the recipient has immediately withdrawn the money if he doesn't know who it is?

eslick

thenudeone wrote: »

You cannot recall a faster payment like you can with BACS.

I never said you could, what I said was recall the funds from the bene bank, this is done every day and not recalling from bacs.

FP to new beneficiaries do go through, though this could be dependant upon the banks used. I know ours lets you.

dtsazza

scallypea wrote: »

Still need to know if the bank is excepting respnsiblity if they have given me a small amount of it back??

"If"* the bank gives you a small amount of it back, they are not accepting responsibility at all, they're giving you a small amount of it back.

The responsibility of the initial error was yours - you've admitted that you entered the wrong details, and they carried out your instruction exactly as you asked them to.

The other party ought to relinquish the money, but now that they've removed it from the account it may be difficult to get from them; legal proceedings may need to be threatened/initiated.

Both of the banks involved have done nothing wrong, and are simply acting as intermediaries.


*Seriously, why do you have so much resistance to laying out the situation clearly and concisely instead of shrouding it in fake conditionals?

pimento

At what level could you call in the money laundering people? Ask the mistaken recipient to explain the arrival of said sum.