Bank unable to trace recipient of a standing order

noitsnotme

Mark_d said:

DullGreyGuy 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

Mark_d said:

DullGreyGuy 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

Would a SAR to the bank uncover the original SO authorisation ?

DullGreyGuy

brianposter said:

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

Nasqueron

Cancel it and see who complains?

My condolences for your loss

eskbanker

legaleagle5 said:

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?

eskbanker

DullGreyGuy said:

When my uncle died an unknown SO was found but then also paperwork for a garage for the same amount which his wife knew nothing about. No one was prepared for what they found inside it! SO cancelled, let the owner repossess it and deal with its contents 

Is it just me who'd like to hear the rest of this story?!

Shakin_Steve

Mark_d said:

DullGreyGuy 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.

brianposter

DullGreyGuy said:

brianposter said:

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

legaleagle5 said:

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.