Sent money to the wrong bank account? You’ll soon get more help getting it back

HardSpend

I have nightmares about accidentally doing this one day. I know someone that did the exact same thing as the op has described and they never got the money back. I was horrified.

robin58

Actually the above details on some banks have only just been changed recently.

Read today that Nationwide, First Direct and HSBC are going to pay back any monies paid into an account by mistake.

emmelle

About 3 weeks ago I made this mistake. I was trying to transfer money on line between 2 of my accounts and I inadvertently used the sort code of one and the account number of the other. I got onto my bank - Co-operative straight away and they traced where it had gone but it was into an account that hadn't been fully set up. They did keep me fully informed and reassured me I would get it back, which I did yesterday plus a payment for me of £15 for having taken so long to get it back. So thank you to the Co-op bank

ispookie666

I'm in a completely different kettle.
I transferred the money to a person, and initially the money showed up on their account, but was taken back by the receiving bank.
Now there is no trace of the money!!!! I have the transaction code from my bank but the receiving bank are refusing to even check what happened - I know the receipient and did not want to know their name.
What can I do?

Pincher

robin58 wrote: »

Actually the above details on some banks have only just been changed recently.

Read today that Nationwide, First Direct and HSBC are going to pay back any monies paid into an account by mistake.

So, I pay my builder £10,000, get a receipt, then ask for my money back through the bank.

I transfer £5,000 to somebody for a car. I take the keys and the car, then get my money back.

If the bank gives the money back just because the sender says so, it will be used by scammers everywhere.

eskbanker

Pincher wrote: »

So, I pay my builder £10,000, get a receipt, then ask for my money back through the bank.

I transfer £5,000 to somebody for a car. I take the keys and the car, then get my money back.

If the bank gives the money back just because the sender says so, it will be used by scammers everywhere.

The bank won't give the money back just because the sender says so! The poster you quoted is being selective in their representation - what they are referring to is the fact that these banks (and many others) have signed up to the new code of conduct but that only commits them to a new process with agreed time limits, etc, and certainly doesn't give automatic rights for senders to reverse payments at will, as covered in earlier posts in this thread....

sam10a

I'd really like some advice: I rented my flat out to a guy who paid rent into my account every month. He moved out a few months ago and I applied for a mortgage (which got accepted, but I haven't drawn down on yet) with the same bank to be paid from the same account. I checked the account recently to make sure the valuation fee for the mortgage had come out, and it looks like the ex tenant is still paying money in monthly. I changed my phone and don't have his number to call, plus he's not answered an email I sent asking him about this. I called the bank and asked them to reject the payments in the future but they've told me they can't do that and the only way I can stop these payments is by closing my account. I can't close my account (and don't feel I should have to) for various reasons and am really stuck what to do. I've unknowingly spent the money he has transferred, and don't want any more to come in but feel I'm stuck! Advice / guidance would be appreciated!

Archi_Bald

sam10a wrote: »

I'd really like some advice: I rented my flat out to a guy who paid rent into my account every month. He moved out a few months ago and I applied for a mortgage (which got accepted, but I haven't drawn down on yet) with the same bank to be paid from the same account. I checked the account recently to make sure the valuation fee for the mortgage had come out, and it looks like the ex tenant is still paying money in monthly. I changed my phone and don't have his number to call, plus he's not answered an email I sent asking him about this. I called the bank and asked them to reject the payments in the future but they've told me they can't do that and the only way I can stop these payments is by closing my account. I can't close my account (and don't feel I should have to) for various reasons and am really stuck what to do.

sam10a wrote: »

I've unknowingly spent the money he has transferred

Unknowingly? Really? After all you have just told us?

Keep those extra payments you know your tenant made to one side (interest paying account etc etc), so you can pay the tenant back as and when they realise they have been paying you for no good reason.

kimberley2901

I have transferred money into the wrong account via the barclays app and called to ask for them to get it back (im with barlcays too) but they said there is nothing they can do and that basically I've lost the money unless i can get the person to send it back to me. This would be okay as it was my sisters account however she is £400 overdrawn and put in £300. Anyone have any idea's?

eskbanker

kimberley2901 wrote: »

I have transferred money into the wrong account via the barclays app and called to ask for them to get it back (im with barlcays too) but they said there is nothing they can do and that basically I've lost the money unless i can get the person to send it back to me. This would be okay as it was my sisters account however she is £400 overdrawn and put in £300. Anyone have any idea's?

My understanding is that, as Barclays signed up to the May 2014 code of conduct for misdirected payments, they are obliged to seek recovery on your behalf so they shouldn't just wash their hands of it.

There was a similar thread a few months ago where the overdrawn status of the recipient caused complications, but it doesn't look like that OP posted back with how that one ended - is your sister's overdraft being correctly managed, i.e. within agreed limits, any charges or interest payments up to date, etc? If you formally instruct your bank to seek recovery then they should invoke the proper procedure and seek your sister's consent to repay (and then process the reversal, assuming she agrees to the formal request) - just because both of you use the same bank shouldn't mean that they can just fob you off like that....