Incorrect payment into my account

Dobbibill

It sounds like either a fraud scam of some sort or they are trying to use you as a money mule.

Either way, do not comply with their request. Let the banks sort it out.

As a side note - do you shred/burn you unwanted bank letters/statements? Could they have your details from your rubbish?

bellrooster

Quick update!


I have had another letter through the post from Parseq in which they explain that they are a processing service provider for the UK banking industry. They were processing a payment for the company (that put the money in my account) and incorrectly processed the account details and the money came to me instead.


They have already paid the company back for there error and that is why (apparently) they cannot have the monies returned in the usual way and have once again asked for me to send them a cheque! or ask the bank to send the money back, (which I have but they say it doesn't work like that)!


When I emailed them I asked how they got my name and address when the only information they held on me was my bank account number and sort code and their response was "May I please advise that we have various methods for tracing payments of which we are not obliged to divulge"


I've had a quick search on the internet and its my understanding that you shouldn't be able to get someone's name and address if all you have is the sort code and account number so I'm completely baffled by that.


Not sure how to proceed now, I don't even own a cheque book and I still feel that the money needs to go back the proper way through the banks.

Placitasgirl

Stick to your guns - I'd actually take this letter into your bank and have them deal with this "Company" direct - don't get involved.

The grammar in the letter is poor "various methods for tracing payments of which"??? and I'm convinced it's a scam. It's possible they've bought your address details and you're right to be wary in my opinion.

There is now a formal procedure in place to recover (or attempt to recover) funds paid into receiving accounts in error, and your bank will be fully au fait with this. A third party is not how this should be happening.

I would respond again telling them you have no intention whatsoever of dealing directly with them and referring them to your bank. The "error" if there was one was on the part of their "client" and you are not obliged to enter into any dealings with Parseq.

I wouldn't touch them with a bargepole!

xylophone

The lady at the bank said the account number and sort code that they are asking the money to be returned to does not match the one the money came from and the proper procedure in cases where money is sent to the wrong account is that the person who made the error should contact their bank who will get in touch with my bank and I will ask for consent to have the money returned (which I will give gladly!) She also advised that she has no idea how this company had my name and address details as due to date protection, my bank would never give out my details to a third party.

You have advised your bank of what has happened.

Your bank has advised you of the correct procedure.

Write to Parseq ( signed for) giving the above information and informing them that you expect the process explained by your bank to be followed - in the meantime, the money stays in your current account pending the correct recovery procedure.

IanManc

If a payment is wrongfully made then it can be recovered using the procedure outlined by the bank. The suggestion that the company has already reimbursed the correct recipient and so cannot recover the wrongful payment via the bank is cobblers: the payment into your account is still wrongful irrespective of whether or not the correct recipient has now been paid or not.

You have told the company that you will not be sending any money to them and that they should contact the bank. You have made your position clear, and you should not change your mind.

Having said what you have said to the company, I would simply not respond to any further contact from them, and wait for them to recover the money via the bank.

My guess is that the scam they're trying to pull consists of your paying the money back to the company, and then them immediately afterwards recovering the sum via your bank, so they get their own money back and you lose the money you've sent, which would be irrecoverable.

The company cannot have obtained your name and address by legitimate means - certainly your bank would never have given it to them. You might want to keep the bank informed of the further correspondence received, but please don't contact the company again and don't send them any money.

Tragen

Could you please post the email address you are corresponding with? Have you verified that you're actually talking to the company in question?

societys_child

. . . and their response was "May I please advise that we have various methods for tracing payments of which we are not obliged to divulge"

Geez, they sound like some third rate debt collectors.

Dobbibill

bellrooster wrote: »

Quick update!

"May I please advise that we have various methods for tracing payments of which we are not obliged to divulge"

Stick to your guns.

If you are going to respond, I would go with something on the lines of........

Thank you for your response. May I please advise that I will earn various amounts of interest, through methods I am not obliged to divulge.
Thank you kindly.

newfoundglory

Its a bit odd that you have been sent a letter. My view would be that increases its likelihood of being genuine, although it could certainly be a scam.

It definitely leaves the concerning question as to how your name/address was obtained.

I would have thought this would be a good case for a financial journalist column in a newspaper to investigate.

Perhaps your name and address WAS obtained or shared as part of some sort of payment tracing, in which case there are some interesting unanswered questions here.

Some ideas;

You could contact BACS and get their view - they might be able to help you legitimise what has happened here.

There are two limited companies on the Data Protection register with the name Parseq. You could contact the Information Commissioners Office and they might be able to put you in direct contact with the Data Protection Officer at Parseq and you could take things from there (they are processing your personal details now.....)

Ballard

You've done the right thing so far. From this point I would write to (or secure message) your bank informing them once again that you cannot apply these funds and that they should debit your account and return them to the remitter.