Missing payment

Fuming_Parker

Hello,

Someone sent me money via online bank transfer but used the details to my old bank account. I have since switched to a new bank using a switch service so thought perhaps the money might be passed along but this hasn't happened.

The sending bank says I need to contact my bank for them to trace the payment, and my bank is saying the payer needs to contact their bank so they can trace the payment.

None of the banks seem to know what to do. Is anyone able to offer any guidance, please?

Thank you.

eskbanker

A trace needs to be initiated by the sending bank (as that's where the money's whereabouts was last known), although they may be reluctant to do so until a certain amount of time has passed....

agrinnall

eskbanker wrote: »

A trace needs to be initiated by the sending bank (as that's where the money's whereabouts was last known), although they may be reluctant to do so until a certain amount of time has passed....

While you're probably right that it's the sending bank that needs to initiate the trace, in this instance the CASS Guarantee states that it is the new bank that is responsible for resolving any issues, so the OP should only need to contact them, not the old bank.

"As a participant of the Current Account Switch Service, your new bank or building society guarantees your switching process. Bacs, the people behind Direct Debits and Direct Credits in the UK, manage and oversee the service. "

https://www.currentaccountswitch.co.uk/helpandsupport/Pages/help.aspx

See The switching process tab, Q Who provides the guarantee?