Wrong account name - advice please

Freshfinance

Hi all

Just some simple advice, in some what of a rush today, we paid a supplier through BACS, however once we authorised the payment we noticed in our rush, we muddled up the supplier names! While the account details are correct - which was a relief, I am now just wondering what will show on the bank statement... Will it be the correct name or the name we used when we created the payments???

Thanks for any advice!!!

😊

colsten

If the sort code and account number are correct, you don't need to worry. The faster payment(*) will have been made to the right account as names don't get checked. Your statement will show the information you used to make the payment.

* - you will have used faster payment, not BACS.

BMN

colsten wrote: »

you will have used faster payment, not BACS.

Not necessarily. It sounds like the payment was made from a business account.

le_loup

Nevertheless, neither BACS nor FP make use of any name. Just the sort code and account number.

Freshfinance

Yes it's a business account and looks like the information that will show on the bank statement will be the reference number - which is fine!!!!