Wrong Transfer - Help! 21 September 2022 at 1:46PM in Budgeting & bank accounts 29 replies 1.3K views

Mr.Generous

On any new  account substantial transfer I always send £10 first and either confirm by checking myself if its my account, or by getting the recipient to email confirming payment received before I go ahead.

By substantial I would say that's whatever value you wouldn't be happy to lose. For me thats anything in the hundreds.

kaMelo

Never confirm receipt by email, or WhatsApp, text,  messages etc. for that matter, that's how intercept scams happen. Always speak in person or on the phone for confirmation.

penners324

Chase UK now has Confirmation of Payee. Fairly recent addition 

p00hsticks

Mr.Generous said:

On any new  account substantial transfer I always send £10 first and either confirm by checking myself if its my account, or by getting the recipient to email confirming payment received before I go ahead.

That's what I tend to do as well.

However, some others on this board have pointed out in the past that fraudsters will also often try a small amount first to establish if the fraud has been reported before going for broke, and so this pattern of behaviour can potentially cause it's own problems with banks as they can view it as suspicious and block accounts for a while.

Daliah

penners324 said:

Chase UK now has Confirmation of Payee. Fairly recent addition 

Not in my Chase app (iOS, latest version of app)

k_man

Daliah said:

penners324 said:

Chase UK now has Confirmation of Payee. Fairly recent addition 

Not in my Chase app (iOS, latest version of app)

Confirmation of payee is enabled for payments to Chase (as in the instance described in the OP).

But not yet available for payments from Chase.

https://www.chase.co.uk/gb/en/support/confirmation-of-payee/

Does Chase use Confirmation of Payee when I add a new payee?

No, but it's coming soon.

Does Chase use Confirmation of Payee when someone pays me from another bank?

Yes we do. If someone is paying you it's important to give them your full and correct account details, This way, they can get immediate confirmation that the payment is OK to send.

Notepad_Phil

p00hsticks said:

Mr.Generous said:

On any new  account substantial transfer I always send £10 first and either confirm by checking myself if its my account, or by getting the recipient to email confirming payment received before I go ahead.

That's what I tend to do as well.

However, some others on this board have pointed out in the past that fraudsters will also often try a small amount first to establish if the fraud has been reported before going for broke, and so this pattern of behaviour can potentially cause it's own problems with banks as they can view it as suspicious and block accounts for a while.

I've lost count of the number of £1 test payments I've made, all so far without issue (touch wood), but I'd still do it even if they did cause my account to be blocked. To me it's much more important that I know with 100% certainty that the bank account details I've used are the correct ones before transferring the rest of the funds.

RG2015

Notepad_Phil said:

p00hsticks said:

Mr.Generous said:

On any new  account substantial transfer I always send £10 first and either confirm by checking myself if its my account, or by getting the recipient to email confirming payment received before I go ahead.

That's what I tend to do as well.

However, some others on this board have pointed out in the past that fraudsters will also often try a small amount first to establish if the fraud has been reported before going for broke, and so this pattern of behaviour can potentially cause it's own problems with banks as they can view it as suspicious and block accounts for a while.

I've lost count of the number of £1 test payments I've made, all so far without issue (touch wood), but I'd still do it even if they did cause my account to be blocked. To me it's much more important that I know with 100% certainty that the bank account details I've used are the correct ones before transferring the rest of the funds.

I used to do this for every new account in my name, but now with CoP I have stopped.

I still do it if the CoP fails for any reason.

I do find it curious though, that I doubt my ability to enter a 6 digit number and then an 8 digit number correctly.

born_again

NualaD40 said:

I I can’t actually believe this folks!! I have gone to check my bank for the sort code I used & the money is in!!! Over a month later & with them telling me they couldn’t do anything further. The stress I have been through. How can this just magically appear? I have not heard a single thing from either bank today informing me. It’s says Non Client Access. Does that mean it has been rejected. Or have the countless emails & calls done something, ha?!? 

Odds on bounced straight back & has been sat in a internal account at your bank awaiting for someone to check & move to the correct account.

Sadly a lot of front line staff have not idea on the number of internal accounts for things like this. Mostly for a very good reason. Payments in them have to be closely checked to make sure they go to the correct account & the internal account is balanced off.