Unexplained Monthly Credits to Bank Account

ManofLeisure_2

I have now received two credits( monthly intervals) to my bank account and at this point in time have no idea as to where they are coming from. I notified my bank and they told me to check with my other banks to see if there was an error. I am still in the process of doing this, but at the moment all seems to be in order. I was extremely surprised that the bank to which the money was credited, was not able to identify the source of the payments. Can anyone advise me please?

Fruit_and_Nut_Case

Put the money in an interest-bearing account an be prepared for someone to ask for it to be returned one day.

ManofLeisure_2

Thanks. My concern is that I'm receiving monthly payments and I would really like to know ''where'' the money is coming from

Fruit_and_Nut_Case

I'm pretty sure your bank knows where the money is from. They have to be able to comply with anti money laundering rules. It's just easier for them to cite data protection and not tell you.

grumbler

Fruit_and_Nut_Case wrote: »

I'm pretty sure your bank knows where the money is from.

Absolutely.

It's just easier for them to cite data protection and not tell you.

They can't 'cite' anything because there is no anything to 'cite' in this case. They are just lazy and don't care. If they do refer to the DPA, this is just an excuse.

Aquamania

ManofLeisure wrote: »

I have now received two credits( monthly intervals) to my bank account and at this point in time have no idea as to where they are coming from. I notified my bank and they told me to check with my other banks to see if there was an error. I am still in the process of doing this, but at the moment all seems to be in order. I was extremely surprised that the bank to which the money was credited, was not able to identify the source of the payments. Can anyone advise me please?

Was it from Tesco?

Or British Gas?

Or Mr Smith?

:cool:

How did the bank know you have bank accounts elsewhere?
What makes them consider there is even the remotest chance the money has come from one of your accounts elsewhere, if, as they have suggested to you, they have no idea where the money has originated from (which I would dispute) :huh:

ManofLeisure_2

Aquamania wrote: »

Was it from Tesco?

Or British Gas?

Or Mr Smith?

:cool:

How did the bank know you have bank accounts elsewhere?
What makes them consider there is even the remotest chance the money has come from one of your accounts elsewhere, if, as they have suggested to you, they have no idea where the money has originated from (which I would dispute) :huh:

The payments have my own name stated and then have a very long number - both ending with CN. Both sums have been made by the ''Faster Payment'' service. I was told that they look as if they are coming from my own account somewhere else - but no trace as yet. The guy dealing with my query asked me whether I had any ''other'' bank accounts, to which I replied ''yes''. He also stated that he thought that these transactions had been done so ''manually'',

LittleMissGiggles123

I had something similar a few months back. It turned out it was because I had set up a monthly standing order in to my daughters Child Trust Fund but the bank details I had been given were wrong so the money was being returned each month. All rectified now but it did puzzle me for 2 or 3 months.

Bravestar

ManofLeisure wrote: »

The payments have my own name stated and then have a very long number - both ending with CN. Both sums have been made by the ''Faster Payment'' service. I was told that they look as if they are coming from my own account somewhere else - but no trace as yet. The guy dealing with my query asked me whether I had any ''other'' bank accounts, to which I replied ''yes''. He also stated that he thought that these transactions had been done so ''manually'',

CN on a bank statement usually refers to a correction.

So in this case I would have assumed it was the return of failed faster payments you had attempted to make previously.

But you haven't mentioned anything like that, and I'm sure you would have recognised 2 amounts as being the same as 2 FP attempts you previously made, so probably not that.
(and one being at least a month ago, I'm sure you'd know about it if someone who was expecting to have been paid, still hasn't)

Which bank is it?
Refer to their complaints procedure, and start an official complaint, asking for thes unrecognised credits on your account to be investigated.

ManofLeisure_2

Bravestar wrote: »

CN on a bank statement usually refers to a correction.

So in this case I would have assumed it was the return of failed faster payments you had attempted to make previously.

But you haven't mentioned anything like that, and I'm sure you would have recognised 2 amounts as being the same as 2 FP attempts you previously made, so probably not that.
(and one being at least a month ago, I'm sure you'd know about it if someone who was expecting to have been paid, still hasn't)

Which bank is it?
Refer to their complaints procedure, and start an official complaint, asking for thes unrecognised credits on your account to be investigated.

Thank you for the explanation Bravestar. This account is only used as a ''savings vehicle''. X amount deposited to gain the relevant interest, so these payments are particularly puzzling. I will look at the complaints proceedure and see what happens.