Sent a big sum of money to a Wrong iban Number

Derek4262

Hello guys,
Pretty much as the title says, I made this transaction of a alot of money from my bank here in Egypt to my supplier's bank in the UK (Westminster bank). Yet I have typed in the wrong IBAN. However, all the data I entered were my supplier's (the data accompained with the right IBAN number). What can I do to get my money back?

Astraeus

Call your bank ASAP.

Derek4262

Okay, I am on it.

Derek4262

What should I be doing while they are trying to fix that? I contacted my supplier and he said he will go to the Police and Bank and try to do what he can to fix it

agrinnall

I don't know the law in Egypt but the police in the UK won't have the slightest interest at this stage. And your supplier doesn't have to do anything as it's you that still owes them the money. I doubt whether their bank will act on anything they say. You're the one who has made the mistake, you need to pursue it with your bank.

Derek4262

One thing to note though, We entered the wrong IBAN due to the fact that it was exactly like this on the online invoice. So me and him are doubting that some hacking has took place somewhere in between. I am guessing it was his computer was hacked due to the fact that my computer is completely clean of viruses and I have checked alot of viruses

Ballard

If I've got this right you've mistyped the IBAN so it's very likely to be invalid in which case it should be returned to you (less a fee). Ideally this would happen almost immediately but as mentioned already you should contact your bank and ask them to recall the payment.

I assume that Sunday is a working day in Egypt so contact them in the morning so that they can get the ball rolling. NatWest won't do anything until Monday (at the earliest) though.



Having put some thought into it, if you've converted from EGP to GBP you should discuss it with your bank as the returning funds might be converted back to EGP by your bank and recredited to your account which would lose you money on the foreign exchange. You should ensure that your bank keep the funds in GBP and resubmit your payment with the correct details.

Ballard

Derek4262 wrote: »

One thing to note though, We entered the wrong IBAN due to the fact that it was exactly like this on the online invoice. So me and him are doubting that some hacking has took place somewhere in between. I am guessing it was his computer was hacked due to the fact that my computer is completely clean of viruses and I have checked alot of viruses

This changes things a lot and explains why you mentioned the police earlier. The advice about seeing your bank is now a matter of urgency

Derek4262

One thing to note is that somehow the wrong IBAN is the same bank and branch of my supplier's so does this make things any easier?
Sorry for my bad english, it's not my mother tongue obviously.

Ballard

Your English is fine.

I wouldn't want to speculate too much as we don't know the facts but I would have thought it odd if a fraudulent account was opened in the same branch as that would point towards bad compliance on the part of the bank.

I can't comment any further on this as it's not something that I have enough knowledge on to give accurate advice. I wish you well and hope that you keep us updated on the progress.

eDicky

Derek4262 wrote: »

One thing to note is that somehow the wrong IBAN is the same bank and branch of my supplier's so does this make things any easier?

In that case it would also be useful for your supplier to contact their bank and show their invoice with the correct details plus the invoice that you received with the suspected alteration. They should be able to check and decide if it's an innocent mistake or something to investigate, as well as assisting to rectify the transfer.