Accidental payment to mystery account

Anthorn

pritchah wrote: »

Through the Faster Payments service I accidentally transferred £90 from my Lloyds account to a Barclays account belonging to someone else.

When I discovered the error, I contacted Lloyds and we worked through the process advertised on the FPS site.

Lloyds contacted Barclays and then told me the latter couldn't help. We know where the payment has gone but think the account holder has spent it, which he shouldn't have.

Barclays local manager identified the account, so it does exist.

The Barclays account holder (I suspect is a corporate account) is being very uncooperative.

I think I might have to take legal action. Can the forum give advice on a) would it be worth it for £90, and b)how would I go about it?

Refer to the industry-wide code of best practice which has been agreed by most U.K. banks. Basically if the recipient agrees or rather doesn't disagree with the money being returned then it should be returned within 20 days. Note this is a voluntary code of best practice and not a requirement in law. First step is your own bank from which the payment was sent. If they don't do anything or indeed you disagree with what they have done then it's a cause for complaint.
https://www.moneyexpert.com/current-account/reclaiming-misdirected-payments/

Samsung_Note2

bowb wrote: »

I had this problem once. I went through the motion of asking my bank to ask his bank to return the money. After 21 days I had a letter from the second bank to say that the recipient had not responded to any of there letters so can't refund your money. It seems that the recipient has to give his bank permission to return your money.

That is exactly what happens...when it happend to us,our bank did say if we refuse to give details then there was nothing they could or would do (our bank for reference was Barclays).

Then the sender has to go down a legal route which would then get very expensive and very time consuming.

bowb

That is exactly what happens...when it happens to us,our bank did say if we refuse to give details then there was nothing they could or would do (our bank for reference was Barclays).

Then the sender has to go down a legal route which would then get very expensive and very time consuming.

I went down the legal route to recover money from a company. It wasn't to difficult using the online small claims court. There are a few rules to follow and a fee to pay. In my case I claimed £800 and the fee was £60. So I claimed all the £860 from the company. So it can be done easy .
IF THE CLAIM IS SIMPLE AND STRAIGHTFORWARD.

Samsung_Note2

bowb wrote: »

That is exactly what happens...when it happens to us,our bank did say if we refuse to give details then there was nothing they could or would do (our bank for reference was Barclays).

Then the sender has to go down a legal route which would then get very expensive and very time consuming.

I went down the legal route to recover money from a company. It wasn't to difficult using the online small claims court. There are a few rules to follow and a fee to pay. In my case I claimed £800 and the fee was £60. So I claimed all the £860 from the company. So it can be done easy .
IF THE CLAIM IS SIMPLE AND STRAIGHTFORWARD.

Can only speak from experience and the sum was just shy of 18k and from a large organisation...they seemed to feel it would be long winded and costly.

We saved them both time and money as was honest..as most would have been.

AndyPK

Anthorn wrote: »

Refer to the industry-wide code of best practice which has been agreed by most U.K. banks. Basically if the recipient agrees or rather doesn't disagree with the money being returned then it should be returned within 20 days. Note this is a voluntary code of best practice and not a requirement in law. First step is your own bank from which the payment was sent. If they don't do anything or indeed you disagree with what they have done then it's a cause for complaint.
https://www.moneyexpert.com/current-account/reclaiming-misdirected-payments/

It doesn't pay to be honest.

After some time has past, and a second payment received into my account (from an unknown person) I though I would be honest and ring my bank, to have the payments reversed out.

Their response was to raise a form and block my account so they could be investigated. No payments would be able to go in or out of my account. (apparently my wages would be ok).

If I wanted any money out I would need to goto my branch with ID, prove it was me. :eek:

I declined to go ahead! This account is my main account with lots of DD's. I don't want them stopped and a bad credit history!

CavendishWobble

This is a payment in error.

For payments in error unfortunately you need the recipients permission to get the money back. A request/form is filled out and sent to the recipients bank for them to try and gain permission. If they decline this then you would need to go down the legal route.

Not ideal however, for example this is in place to stop payments from being made, goods then exchanged and then the party that paid then taking the money back.