Deposit paid back to wrong account

ahmeras

Guys

I messed up a little but. I recently left a property and was due my depo back. However the agents requested details in a word doc. Being at home i typed it up and sent back. About 2 weeks had passed and i chased the today. It turns out they sent the money, however looking at the forms, I made a mistake in my account number.

The funds were sent to the incorrect account!

What are the chances of me getting my deposit back?

I'm really panicking right now as i need the money for my next rental!

davidmcn

It depends whether the wrong account number matches an actual account - it's quite likely it doesn't, in which case the bank will probably have stuck it in a holding account and eventually send it back where it came from. Explain to the agents, as it's them who'll need to sort it out.

If the account number belongs to another customer of the bank then it's more complicated.

Comms69

You should get them back eventually. The letting agent can request a chargeback and once received send it to you. 

BUT dont expect this to be quick (and be thankful if its free)

ahmeras

Im not sure if it was correct or not if im honest. I have been trying to get through the agents but due to the current situation they are only available via email.

What if it was a legit account and the money has been spent. is it still recoverable?

greatcrested

If it went to someone else's legit account, their bank willcontact them and request they return it. If they do, great.If they refuse, have spent it, or don't answer, it becomes complicated ........

As well as contacting the agents, I'd speak to your bank too.

For more, see

https://www.which.co.uk/consumer-rights/advice/how-do-i-get-money-back-that-ive-sent-to-the-wrong-account

ps-this is really a banking issue, not related to property at all....

Comms69

It's almost certainly a correct account. If it's spent it might be gone, but there's a pretty decent chance it's not spent. 

Keep in mind that very few people will risk their whole future for £600

Ultimately only thing you can do is wait for the agents to act

ahmeras

Sorry if this is under the wrong section.

I did a quick search on this website

https://www.sortcodes.co.uk/

The details are showing as "Account number or Sort code is not valid!" So it seems its not a correct #.

greatcrested

That's good news. It will have gone into the bank's Holding Account, and can be reclaimed from there. Might take a litle time.

Comms69

Ah excellent news. Normally if an account is only 1 digit out, there's a decent chance its legit

TripleH

The money will be sat in the letting agent's account. They may not know who it should be transferred to or they may have other worries / matters to deal with. Just tell them you made an error with the details you gave.