Santander and Faster Payment mistakes

andy_snap

Looking for help in dealing with Santander and Faster Payment that have gone wrong!
Back in 2011 I sent a payment to a friend from our Personal Santander account for festival ticket they'd bought. Unfortunately I managed to get a digit wrong in the sort-code!! The money went to the right bank but not our friends account. Santander were useless and always insisted that any trace had to come from the receiving bank - I lost the money.
Fast forward to last week - our business account is with Santander and a customer got 1 digit wrong in sending a payment to our account. Naively I though - oh good, we're the receiving bank - we'll be able to trace the cash. Nope!! I've been told that any trace has to start with the sending bank!! That cash is with Santander somewhere and I can provide the date, sort-code and account number to trace it with.

To be honest it sounds like the bank are just not interested in chasing any missing payments like that. There must be a lot of mistakes made like that and it strikes me that the banks could be making a lot of money out of these 'lost' payments!

Anyone have any experience of these situations??

masonic

The OP in this thread does: https://forums.moneysavingexpert.com/discussion/5398782

I'm not sure how you reason that the banks could be making money from these payments - either they go into one of their customers' bank accounts or they bounce back.

In this case it is clearly your customer's problem and not yours, so they should really be chasing it up.