Sort code mistakes

Brian2510

I know that in the past, banks didn't check if an account number and sort code matched the name on the account, but do all banks check for this kind of mistake now? So if you gave someone your name, account number and a slightly wrong sort code to make a payment to you, would it definitely be picked up and bounced back?

eskbanker

Brian2510 said:

I know that in the past, banks didn't check if an account number and sort code matched the name on the account, but do all banks check for this kind of mistake now?

No, Confirmation of Payee hasn't been implemented by all banks yet - the main six banking groups (and a few others) did so, but even then if a payment is being made to an institution that doesn't support it then it can't be checked.

Brian2510 said:

So if you gave someone your name, account number and a slightly wrong sort code to make a payment to you, would it definitely be picked up and bounced back?

Even where CoP is available at both ends, in itself it doesn't involve payments being bounced back as such, it just prompts the sender that they're using details that can't be validated (or didn't validate).  If someone sends a payment to an account, after being supplied with inaccurate details, then its fate will depend on whether the details correspond to a valid account....

Is this all hypothetical or have you actually given somebody some erroneous details?

Brian2510

eskbanker said:

Brian2510 said:

I know that in the past, banks didn't check if an account number and sort code matched the name on the account, but do all banks check for this kind of mistake now?

No, Confirmation of Payee hasn't been implemented by all banks yet - the main six banking groups (and a few others) did so, but even then if a payment is being made to an institution that doesn't support it then it can't be checked.

Brian2510 said:

So if you gave someone your name, account number and a slightly wrong sort code to make a payment to you, would it definitely be picked up and bounced back?

Even where CoP is available at both ends, in itself it doesn't involve payments being bounced back as such, it just prompts the sender that they're using details that can't be validated (or didn't validate).  If someone sends a payment to an account, after being supplied with inaccurate details, then its fate will depend on whether the details correspond to a valid account....

Is this all hypothetical or have you actually given somebody some erroneous details?

Thanks for the reply. I'm trying to figure out why I haven't received a payment from a company. I sold something to a reputable company and they sent 11k by faster payment yesterday afternoon, but I haven't received it yet. I phoned them up and asked if I could check that they sent it to the right account number and sort code. The woman said that if my name didn't match the acc number and sort code, it would bounce back. Sounds like she was wrong. I think I will give them another ring.

MX5huggy

What method did you use to supply your bank details? 

sjp999

I thought faster payments are for person to person payments.

Don't companies have to use BACS? 

tacpot12

sjp999 said:

I thought faster payments are for person to person payments.

Don't companies have to use BACS? 

No, Faster Payments are used by all sorts of entities. You might be thinking about Direct Debits, which are only taken by companies. No private individual can take a Direct Debit.

Murphy_The_Cat

sjp999 said:

I thought faster payments are for person to person payments.

Don't companies have to use BACS? 

Nope, Companies can use either Instant Transfer or BACS.  However, for some Companies there are additional costs for doing Instant Transfer, so it may be something that they prefer not to use.

Ash_Pole

MX5huggy said:

What method did you use to supply your bank details? 

I was going to ask this too

Ms_Chocaholic

You can check here if the account no and the wrong sort code exists:

www.sortcodes.co.uk

RG2015

Ms_Chocaholic said:

You can check here if the account no and the wrong sort code exists:

www.sortcodes.co.uk

This didn't work for me. However, I tried it without the www and it worked.

Edit. Just tried it again and it worked.

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