Money Received Rejected By My Bank!

rosieraspberry

I am expecting a payment into my bank account.
The company who sent it said it had been returned from my bank but did not have a reason why it was returned to them a few months ago.
They paid it to me again in late April and it hasn't showed up in my bank account. They have said it hasn't been returned to them.
I have had payments from the company many times before using the same account info.
The only problem I can think of is I changed my surname through marriage 3 years ago but have had payments from this company a good few times since then successfully.

Would the name change stop the money from being received?
Does anyone know how long it usually takes for the bank to return an unsuccessful payment to the company?

Ballard

You will need to provide further information.

Was it sent from the UK?
How was the transfer made (Faster Payment, BACS, CHAPS)?
Was it for a very large amount?

Whichever the answers I would ask the remitter to provide a copy of the payment so that you can be absolutely certain that the details are completely correct.

rosieraspberry

Thanks, yes, it was from the UK made by BACS payment and it was only for £40.00.
I will chase it up with them again next week.

Ballard

With most payments these days, including BACS, it's all automated. The remitters bank will have thousands of BACS transfers to your bank every day. They will send one payment for the total amount and an electronic file with all of the beneficiaries. Your bank will simply read the file and credit each account. The account holders name won't be checked so the logical explanation is that either account number or sort code has changed on the payment since it last worked.

theburningcat

Which bank is it? I've not known the big names to have this problem but there is some anecdotal evidence to suggest that Aldermore, for example, often rejects transfers before they accept them for no apparent reason and they have to be resent (which is normally automatic if you use online banking with a big name).

But before you go down that path, check the sender got the sort code and account number correct. The name doesn't make any difference.

jonesMUFCforever

If it were by CHAPS not BACS then the names would be checked.

rosieraspberry

Thanks, it definitely wasn't CHAPS as I think that is a same day payment isn't it? It was Halifax bank. If they don't care about the name then I can't imagine why they would reject it!
I'll get on to the company on Monday!

SnowTiger

rosieraspberry wrote: »

Thanks, it definitely wasn't CHAPS as I think that is a same day payment isn't it? It was Halifax bank. If they don't care about the name then I can't imagine why they would reject it!
I'll get on to the company on Monday!

Was it sent?

Your posting history and the fact that this is an occasional £40 deposit suggests it's cashback, winnings, or payment for filing out surveys.

It's not unknown for companies offering payment for those things to sting customers with promises of payment even when the writing's on the wall.

Ballard

jonesMUFCforever wrote: »

If it were by CHAPS not BACS then the names would be checked.

What makes you say that? CHAPS are sent STP so there's no need for human intervention. With the number of a CHAPS payments sent on a daily basis it would take a lot of checking.