Which bank is responsible if a SO doesn't arrive?

welshmoneylover

Hi

Out of curiosity, if a regular SO is paid over a long period of time then it doesn't arrive for a one off period of time, but the issuing bank has sent it, who is responsible for tracking it down? The sending bank or the receiving one?

noh

The sending bank.

stclair

The sending bank would need to arrange a BACS trace.

Agricolae

Depends on how the S/O was sent. I believe that BACS has been more or less phased out for S/Os and the vast majority of them now go via Faster Payments (FP).

A BACS trace would not be necessary in such an instance and you would need to contact the sending bank (assuming it is your bank). They should be able to provide you with an FP reference and a rejection code/reason if there is one.

If the sending bank can see no reason for the payment failing at their end then they will advise you to speak to the beneficiary as the problem may well lie with their bank.