Is bank transfer safe, as seller?

forgotmyname

Did the receiving account get to keep the money though?

As per Soolins post #20, what about the recent(ish) case of the Llloyds bank staff collecting customers data and selling it on?

soolin

glentoran99 wrote: »

My account was compromised by some sort of virus, £400 was transferred out, the bank refunded it to me within hours

forgotmyname wrote: »

Did the receiving account get to keep the money though?

As per Soolins post #20, what about the recent(ish) case of the Llloyds bank staff collecting customers data and selling it on?

Glentoran would not know that as all the bank is required to do is refund the money and investigate. If , as it turns out in this case, there was a bank issue then it's up to the bank to sort it out, but even they can't reclaim it from the recipient. If it is later discovered that the sender did something wrong, the. The bank take the money back from them.

Banks are required to make good any money that someone reports as fraudulent, and they investigate later. The word though is 'fraudulent' , merely sending money to the wrong person would not trigger that response in a bank.

The MSE forum on banking can be quite interesting for this sort of story.