Payment Made with Incomplete Banking Details

spidermagicat

Hi All,

I'm meant to be receiving money from a friend today (to pay a utility bill they owe me from when they lived with me).

I've received a text saying they sent it this morning and (according to his bank) it should arrive today.

It hasn't so I checked the details I sent him and realised I didn't include the name of the bank. For example:

Mr John A Smith
S.C: 12-34-56
A.N: 12345678

with 'Natwest', or 'Lloyds TSB' for example missing.

Will the payment still happen or will it not, and will it take longer because of the omission or should it take the normal amount of time?

Just out of interest, as it's relevant, are sort codes unique across all banks or just internal?

YorkshireBoy

Savings accounts may require a 'reference', but sort code and account number are all that is required to pay into a current account (the first 2 digits of the sort code identify the bank).

The 'name' of the bank is not required, nor is there a field to enter it when making payments online (which I assume is what the friend has done?).

Technically, the money has until next Tuesday night to arrive, being as that is the "next business day".

jonesMUFCforever

If the sort code and account number are correct the payment will be made.

spidermagicat

Good to know :-)

I suppose I have become complacent, when paying between my two accounts money has invariably been there within 2 hours.

Although technically 2 different banks they're both under the RBS umbrella and many payments have been made previously, so I'm guessing that's the reason :-)

dalesrider

Well moving money between HSBC, Halifax & Santander does not require to enter bank name to make a payment.
Simply sort, acc and your reference.
Faster payment will still work to the same timescales over the bank holiday weekend.