Money transfer error - advice needed please

tacpot12

Eskbanker is correct, the Faster Payments credit payment recovery scheme is your best route to get this money back. Your bank should argue your case with the other bank if their client is uncooperative.

JasonHand

I'm no expert in banking procedures but if what the poster says is correct in that it allowed them to enter a 16 digit value into an 8 digit field and then used the final 8 digits as the account to send the money to then I believe this is an error within the bankers software.

For example it would be really easy to mistype an 8 digit account number in by adding an extra digit by pressing 2 keys at once. Easily done if you are in a hurry. The software should certainly do this sort of validation for such important information

Terry_Towelling

Brucefan wrote: »

Hi, thanks for your reply. It was a money transfer from my Tesco Credit Card account to a Nationwide Bank Account - perhaps the set up is different on Credit card transfers. It wasn't to my account, it was to another family members bank account (or should have been). Tesco have confirmed that they used the last 8 digits of the number I entered and sent the money to that account. The debit history on my account shows the full 16 digit number -

Right, so this was not a faster payment from your bank account but a transfer of funds from your credit card account to a bank account. I have no knowledge of how these things work with Tesco but, being able to enter 16 digits for Tesco to only read the last 8 seems odd.

Is it because you can transfer money to a bank account or to a card account? Perhaps only the last 8 digits are read if the user has input a sort code?

jonnygee2

Terry is right, this is not a faster payment directly, although Tesco do use Faster Payments in the background.

I would say that Tesco need to refund this money. You did not enter the account number it was sent to, you entered a 16 digit number. A computer error meant it was sent to the last 8 digits of the 16 digit number you entered, but you could not have ever predicted that would happen.

I would raise this as a complaint with them, and take it to FOS if necessary. You can never be totally sure but I would think a complaint to FOS would be likely to lead to a refund in this case.

Brucefan

Thanks for all your advice and comments. I do feel that although I entered an incorrect number the bank have to accept responsibility for the way in which they have come to use the last eight digits of what I entered. I guess I need to wait the 6 weeks before escalating it as a complaint, although it has taken them until 8 Jan to send the initial request to recall the payment.

societys_child

I do feel that although I entered an incorrect number the bank have to accept responsibility

You're correct, it's always someone else's fault . .

DesG

I just checked, and the money transfer form for Tesco does indeed take 16 characters for the destination bank account number!

Brucefan

societys_child wrote: »

You're correct, it's always someone else's fault . .

Thank you so much :T

Terry_Towelling

DesG wrote: »

I just checked, and the money transfer form for Tesco does indeed take 16 characters for the destination bank account number!

Can you also confirm the title of the field which is 16 characters long? Does it say 'Bank Account Number' or 'Card Number' or what?

Brucefan

Terry_Towelling wrote: »

Can you also confirm the title of the field which is 16 characters long? Does it say 'Bank Account Number' or 'Card Number' or what?

Yes, that field is titled Account Number