Can anyone help, Faster Payment online sent to wrong account number??

Hiddenidenity

Too cut a long story short my partner made a FP from Natwest to Yorkshire Bank.

Instead of taking the last 2 numbers of the account number, he took the first 2 off (YB has 10 digit A/C nos) So the account number was werong. The money has left his NAtwest but obv not reached the YB.

What happens next?

Both banks keep passing him backwards and forwards saying he needs to speak to the other.

ChiefGrasscutter

In short you are F****d
Countless threads on this subject on this site.
People tend not to make the same mistake twice.

If you are REALLY lucky the destination account will not exist and the money will bounce back into your account after time
In the meantime it will sit in a suspense account.
You may need to chase up its return

Otherwise it will have gone into someone's account - and they may well be unaware of it, it might be a company account, it might be a dormant account.......
You need to ask the sending bank to request the payment be returned - it is always the sending banks responsibility to trace "lost payments" etc.
They will need to contact the receiving bank who actually got the payment.
They in turn will need to contact the real end recipient
The end recipient will need to sign a form to give permission for the money being removed from their account by the bank.

The FSA says something along the lines of the above with the addendum that you should expect to be charged by your bank for the costs in sorting out the mess.

Hiddenidenity

The account number it was sent too doesnt exsist anywhere they have checked that becuase basically its 2 numbers short. BTW it was the bank who told him which numbers to remove and it was done in branch at natwest usign his online banking. Its nto even like its a small ammount he can say oh well lesson learnt iykwim?

realaledrinker

Sounds like you may have grounds for a complaint against Natwest - I would not expect their branch staff to know the ins and outs of YB's account numbering idiosyncracies so they were talking odure.

Also do not understand the comment about 2 numbers short as it is only possible to send 8 digit account numbers by Faster Payments (or any UK payment scheme for that matter).

stclair

How was the payment made?

The banks system picks up now if any of the details are incorrect;

Customer advice, please address the following issues:
Our records show that the payee account you have specified does not exist. Please enter a valid account number.

Plus bank staff are not aware of which banks have 9 or 10 digit account numbers etc. The onus is on the customer to give the correct details.

You will need to get Natwest to put a trace on the payment by using the FP reference.

realaledrinker

stclair wrote: »

The banks system picks up now if any of the details are incorrect;

Customer advice, please address the following issues:
Our records show that the payee account you have specified does not exist. Please enter a valid account number.

.

Surely that only refers to a transfer within the same bank?

Banks only share sort codes and account number check digit algorithms so cannot see how what you say is strictly correct.

stclair

realaledrinker wrote: »

Surely that only refers to a transfer within the same bank?

Banks only share sort codes and account number check digit algorithms so cannot see how what you say is strictly correct.

Sorry but you may have been mis-informed as the system notifies you if any if the details are incorrect now regardless if the bank. This system has been in place for the past few months.

Hiddenidenity

I have no idea I dont bank with them, He took the YB statement in and they copied the number of there, YB account has a 10 digit account number and Natwest only use 8 or something. So the cashier took the end 2 off not the front 2 from the YB account number

Anyway Natwest have rangback and have traced the payment as "floating"? It will be bank in Natwest account in 3-5 days

Thank you

realaledrinker

stclair wrote: »

Sorry the system notifies you if any if the details are incorrect now. .

Clearly still a few teething problems then if OP's experience is still possible?

stclair

realaledrinker wrote: »

Clearly still a few teething problems then if OP's experience is still possible?

Unless the details really exist it the payment page will not allow you to proceed. If your a Natwest/RBS customer give it a try yourself

stclair

Hiddenidenity wrote: »

I have no idea I dont bank with them, He took the YB statement in and they copied the number of there, YB account has a 10 digit account number and Natwest only use 8 or something. So the cashier took the end 2 off not the front 2 from the YB account number

Anyway Natwest have rangback and have traced the payment as "floating"? It will be bank in Natwest account in 3-5 days

Thank you

In future you should make any payments via your online banking as the system picks it up if the details are incorrrect.