Money paid into closed bank account

ghamil08

I have an account with BoS and on Saturday (27th) i made an online bank transfer of £150 in to my brothers BoS. Unknowingly to me he had closed his account and is now with Santander.

I phoned BoS immediately after making the transaction and they filled in a form with the information of both my and my brothers BoS bank account information and also my brothers new Santander bank account information.

I have been informed that they hope to retrieve the money but it is on a 'best endeavors' policy as they can not make guarantees. Can anyone let me know if i am likely to retrieve the funds?

I would assume that the money would bounce back as the account is closed but i am beginning to worry that i have lost the money!

eskbanker

I suspect that much depends on when your brother closed his account - if it was recently then there's not much chance that the account number will have been recycled for someone else's use and so it should bounce back.

If he used the Current Account Switching Service then it would be moot anyway as the payment would be redirected automatically....

ghamil08

The bank account was closed about 4-5 weeks prior to this incident.

Westie983

If the account has been closed then the payment should bounce back to you, but if he switched to Santander then it will be transferred onto Santander as part of the switch guarantee.

It does take 5 - 7 bank working days for funds to bounce back, if you don't see this happen get your bank to put a trace on the funds.

You are more likely than not to get the funds back or transferred and reclaiming erroneous payments now has got quicker although I'm not sure if account numbers are recycled so this could cause a slight delay as the bank make contact.

Westie983