Accidentally transferred money to an old closed account - what happens?

weegie_2

Hi

Wonder if anyone could advise. I made a transfer of money (just under £100) on Monday evening from my current account (BoS) to an old Santander account which I closed down in March of this year. Completely my fault as I should have double checked everything! Very annoyed with myself. As the account at the other end is closed, will this money just bounce back and how long should it take?

Thanks in advance.

grumbler

A recent similar thread: Closed bank account

ICan'tStandIt

It should bounce back unless Santander can find an open account for you.


If this was Monday night, I would've thought it would've happened by now though.

Dobbibill

yeh, as said above, it should bounce back as it has nowhere to go.

please come back and let us know how you got on

pmduk

There are several questions here - If you closed the account via the switching system the money should have been forwarded to your new account. Secondly if your old account was closed with any monies owing, you may find this payment may have just reduced indebtedness. Finally as others have said, if neither of the above apply, your payment should just bounce bank. However, you may end up having to ask the sending bank to trace the payment.