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Bank unable to trace recipient of a standing order

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Comments

  • noitsnotme
    noitsnotme Posts: 1,204 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Mark_d said:
    Mark_d said:
    As it's a standing order/regular, I think it's likely to be for a loan or a charitable donation.  Perhaps it's worth investigating  options  like these if you haven't already done so
    it wouldn't be a regular loan from a bank etc as they will take payments by DD so that they can increase them if monies bounce to cover fees or stop them when the loan ends.

    From my experiences mortgage are paid by standing order
    Mine have only ever been by direct debit.
  • DullGreyGuy
    DullGreyGuy Posts: 15,667 Forumite
    10,000 Posts Second Anniversary Name Dropper
    Mark_d said:
    Mark_d said:
    As it's a standing order/regular, I think it's likely to be for a loan or a charitable donation.  Perhaps it's worth investigating  options  like these if you haven't already done so
    it wouldn't be a regular loan from a bank etc as they will take payments by DD so that they can increase them if monies bounce to cover fees or stop them when the loan ends.

    From my experiences mortgage are paid by standing order, as are loans from friends/family.

    I agree that service charge on a leasehold place might be an option.  Not sure how much lockup/gardener/cleaner cost.
    Mortgage has always been DD for us for the same reasons as loans... friends/family loans would be SO but not from banks etc 

    Other services depends on local, frequency etc, a lockup around here would be about £500pcm, neighbour has a cleaner 3 times a week at £39 a visit
  • brianposter
    brianposter Posts: 1,421 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Would a SAR to the bank uncover the original SO authorisation ?
  • DullGreyGuy
    DullGreyGuy Posts: 15,667 Forumite
    10,000 Posts Second Anniversary Name Dropper
    Would a SAR to the bank uncover the original SO authorisation ?
    The account holder is deceased so cannot do a subject access request, data protection laws only apply to living persons
  • eskbanker
    eskbanker Posts: 35,314 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    My late father’s account shows a monthly standing order of a few hundred pounds. We have asked the bank who the recipient is/where the money was going and they simply state that they cannot trace it. This amounts to some £12k+, can it really be the case that this has disappeared into the ether and we have to accept this has vanished? What further checks can I ask this bank (Barclays) to make? Any help much appreciated!
    It won't have disappeared into the ether and/or vanished - it will have been sent to a valid account (otherwise it would have bounced back), but it's just that neither you nor Barclays have any legitimate way of deriving the account's ownership from the sort code and account number.

    If you really are a legal eagle you may know about Norwich Pharmacal orders that can sometimes be used to force the receiving bank to divulge details, but in your shoes I'd be starting from the assumption that the payments were genuine rather than "vanishing" due to some sort of scam or bank fault, unless there's any evidence to the contrary?
  • Shakin_Steve
    Shakin_Steve Posts: 2,797 Forumite
    Eighth Anniversary 1,000 Posts Photogenic Name Dropper
    Mark_d said:
    Mark_d said:
    As it's a standing order/regular, I think it's likely to be for a loan or a charitable donation.  Perhaps it's worth investigating  options  like these if you haven't already done so
    it wouldn't be a regular loan from a bank etc as they will take payments by DD so that they can increase them if monies bounce to cover fees or stop them when the loan ends.

    From my experiences mortgage are paid by standing order, as are loans from friends/family.

    I agree that service charge on a leasehold place might be an option.  Not sure how much lockup/gardener/cleaner cost.
    Never heard of a mortgage being paid by standing order.
    I came into this world with nothing and I've got most of it left.
  • brianposter
    brianposter Posts: 1,421 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Would a SAR to the bank uncover the original SO authorisation ?
    The account holder is deceased so cannot do a subject access request, data protection laws only apply to living persons

    That does not prevent an executor from making a SAR. I would be inclined to make a SAR and follow up with a complaint if the SAR was not treated on its merits.
  • Hoenir
    Hoenir Posts: 5,671 Forumite
    1,000 Posts First Anniversary Name Dropper
    My late father’s account shows a monthly standing order of a few hundred pounds. We have asked the bank who the recipient is/where the money was going and they simply state that they cannot trace it. This amounts to some £12k+, can it really be the case that this has disappeared into the ether and we have to accept this has vanished? What further checks can I ask this bank (Barclays) to make? Any help much appreciated!
    The Estate will be contacted enough once the payments cease you would imagine. Have you posted a notification in the Gazette ? 

    As Executors your legal role is to wind up the Estate. Often it's surprising how little you know about the affairs of a late family member. When acting in this capacity. 
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