HELP, sent money to my closed account

Tinkycat

Hopefully someone can help, I’ve just transferred some money to an account I closed 6 months ago. Will it bounce back or will be this the start of a battle with the banks to get my money back. Not sure if I’m up for a fight at the moment. Thanks in advance for any helpful advice. 

[Deleted User]

It'll either bounce back or log into a holding account.

No need for a battle either way, unless that's your preference.

Tinkycat

I was going to phone the two banks tomorrow, was hoping it would be easy to sort - just got a bit jittery after I started reading advice online.

Alistair31

I expect it will bounce back to you. 

bradders1983

If it was closed then surely it wouldnt have sent in the first place? No different to putting a wrong sort code and account number in and it popping straight up that its invalid.

Tinkycat

bradders1983 said:

If it was closed then surely it wouldnt have sent in the first place? No different to putting a wrong sort code and account number in and it popping straight up that its invalid.

Well, it is visible in the uncleared transactions so I’m hoping you’t right and will just be rejected. Can’t believe how careless I’ve been, I usually triple check all transfers. Was worrying because I can’t contact the bank today. 

redzhell

Hoping this will help...

Last year, my husband transferred some money to his dad's bank account (payee already set up as have transferred to it a few times before) and I noticed a couple of days later that the money bounced back to our account as he transferred the money to a closed account.

His dad assumed he told us the bank account was closed and that we had his new bank details! Husband also didn't clarify the account details so both at fault. 

Tinkycat

redzhell said:

Hoping this will help...

Last year, my husband transferred some money to his dad's bank account (payee already set up as have transferred to it a few times before) and I noticed a couple of days later that the money bounced back to our account as he transferred the money to a closed account.

His dad assumed he told us the bank account was closed and that we had his new bank details! Husband also didn't clarify the account details so both at fault. 

Thank you, that’s so reassuring - particularly because they were both at fault but still got money sent back 😊 All these helpful comments have made me feel a lot calmer, it was quite a substantial sum of money. I’m up early ready to phone the bank to explain. 

Alexland

If the account was closed under the current account switch service then the payment may be forwarded to the new account. Otherwise hopefully it won't have been long enough for the account number to be reused.

badger09

Do yourself a favour and delete that particular account from your list of payees NOW, unless you've already done so

Tinkycat

Alexland said:

If the account was closed under the current account switch service then the payment may be forwarded to the new account. Otherwise hopefully it won't have been long enough for the account number to be reused.

Thank you, I have spoken to both banks and the process is the same. If it can’t reach the account it gets put into a holding account and then returned to the original source, this takes between 1-3 days. Account numbers are not reused. 
It’s all sorted now, I have my money back 😊