Wrong beneficiary name

sj1234

hey guys,

I made an international purchase and paid via wire transfer, I sent some money and I used all the right details but accidentally put the wrong beneficiary name. The company I sent the money to is claiming that they have not received the money. What could be done about this, can I change the name? Its been more than two weeks since I've made the payment.

The bank I used to make the payment is Barclays. If I don't change the beneficiary name would the money come back into my bank?

Any insight would be much appreciated!

Westie983

sj1234 wrote: »

hey guys,

I made an international purchase and paid via wire transfer, I sent some money and I used all the right details but accidentally put the wrong beneficiary name. The company I sent the money to is claiming that they have not received the money. What could be done about this, can I change the name? Its been more than two weeks since I've made the payment.

The bank I used to make the payment is Barclays. If I don't change the beneficiary name would the money come back into my bank?

Any insight would be much appreciated!

Hi,

You will need to go back to Barclays to chase the payment, that said if the sort code and account number was correct then the money should have been received regardless of the name (this is due to change)

Westie983

PRAISETHESUN

If the other account details were correct then the money should have gone through, or it would have bounced back by now. You will need to contact Barclays and get them to trace the payment - this will show if it has been received by the recipient (and they are trying to pull a fast one on you), or if it hasn't, where the money has actually ended up.

agrinnall

Westie983 wrote: »

Hi,

You will need to go back to Barclays to chase the payment, that said if the sort code and account number was correct then the money should have been received regardless of the name (this is due to change)

Westie983

It sounds like it was a SWIFT payment so there won't be a sortcode and account number as such, and the receiving bank may have beneficiary checking in place so I wouldn't be so sure that it has got to the right place.

Flobberchops

As Westie mentioned, domestic beneficiary checking isn't yet in place, but as this is an international transfer the incorrect beneficiary name may be the cause of delayed and/or bounced payments.


Barclays can attempt a trace or recall on the payment. This is not guaranteed to be successful as it depends on the status of the payment with the beneficiary bank, not to mention the beneficiary banks response and cooperation. If I recall correctly there is a small fee involved, and a longish timescale before an answer is returned.