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Payment to friend's 'closed' account
FrancesSamuel
Posts: 1 Newbie
Hi - please help!
I paid some money into a friend's account. After the money had left my account she told me that her account had been 'closed' some weeks previously. How can I get this money back?
I think she had run up a very big overdraft and the bank closed the account, she is now paying them so much each month to cover the debt. the money has left my account so I'm assuming it's been taken off her overdraft total?
thank you in advance
I paid some money into a friend's account. After the money had left my account she told me that her account had been 'closed' some weeks previously. How can I get this money back?
I think she had run up a very big overdraft and the bank closed the account, she is now paying them so much each month to cover the debt. the money has left my account so I'm assuming it's been taken off her overdraft total?
thank you in advance
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Comments
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Unfortunately it ceased to be your money when you paid it into her account (assuming this was deliberate), so as you say it's likely that her bank will regard it as contributing to reducing her debt with them.FrancesSamuel wrote: »I paid some money into a friend's account. After the money had left my account she told me that her account had been 'closed' some weeks previously. How can I get this money back?0 -
FrancesSamuel wrote: »I think she had run up a very big overdraft and the bank closed the account, she is now paying them so much each month to cover the debt. the money has left my account so I'm assuming it's been taken off her overdraft total?
If the details you used were correct for the account, and the transfer took place then it will have gone to the account; if the account was in debt then it will have been deducted from the debt.Having a signature removed for mentioning the removal of a previous signature. Blackwhite bellyfeel double plus good...0 -
The account is likely to still be open, but your friend has a agreement to pay back the overdraft in an payment arrangement, so the payment has gone into an open account but your friend no longer has access to it.
The only way to get your funds back is for your friend to repay you when they next make a payment as you sending the money has most probably counted as her next payment in her payment arrangement.I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySaving Expert.Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%£2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%Total £4095.19/£7332.95 = 55.84%0 -
Why do you want the money back?Never pay on an estimated bill. Always read and understand your bill0
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If the account is properly closed then the payment should bounce back to the originator.
If it is not closed but perhaps blocked to new transactions then yes the amount will reduce any outstanding debt.0
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