Help please

rmbl

I'm sorry if this is in the wrong place 

I changed banks recently and provided two digits the incorrect way around it my employer, my wage obviously didn't go into my new bank. 

I've spoken to employer who state the bank I'm with need to look into it, but my bank are flat out refusing to, telling me my employer needs to look into it. 

So for now my wages are gone and I have nothing for the next month to live on/pay rent etc. 

Does anyone know where I stand in relation to this? 

My employer are saying the account it went to was valid, all we can do is wait and see if it bounces back, and if not they can attempt a credit repayment recovery next week. But also told me my bank should be contacting the (incorrect account) and requesting the money returned. 

marcia_

rmbl said:

I'm sorry if this is in the wrong place 

I changed banks recently and provided two digits the incorrect way around it my employer, my wage obviously didn't go into my new bank. 

I've spoken to employer who state the bank I'm with need to look into it, but my bank are flat out refusing to, telling me my employer needs to look into it. 

So for now my wages are gone and I have nothing for the next month to live on/pay rent etc. 

Does anyone know where I stand in relation to this? 

My employer are saying the account it went to was valid, all we can do is wait and see if it bounces back, and if not they can attempt a credit repayment recovery next week. But also told me my bank should be contacting the (incorrect account) and requesting the money returned. 

 It is your employers responsibility to chase it up not your bank. However if it can not be recalled, which is more likely the longer the employer takes to contact their bank, you may have to take the hit as it was your fault not your employers. 

born_again

Echo above.
It is employers who need to contact their bank & advise payment sent to a wrong account. Their bank will then contact the bank it was sent to asking for the money to be returned due to incorrect details. All that bank will do if it is a valid & open account is contact the account owner asking for the money back. If they do not respond, then not much that can be done. As it requires court orders to get account holders details to take any further.

If it is not a valid acc, it will be sat in a internal suspense account at one of the banks.

retiredbanker1

There is a possibility that the account number quoted is a valid bank account and that a 3rd party has received the OP's wages.
This is why the employers' bank (via the employer) needs to act fast.

DullGreyGuy

retiredbanker1 said:

There is a possibility that the account number quoted is a valid bank account and that a 3rd party has received the OP's wages.
This is why the employers' bank (via the employer) needs to act fast.

It's possible but unlikely because accounts include a checksum and it's unlikely that by transposing two numbers that the checksum will still work. If the OP knows the number they accidentally gave they could use a checker like https://www.unifiedsoftware.co.uk/sort-code-and-account-checker/ that will say if its a potentially real bank account (it cannot say if its actually one or not just if it pasts the tests, clearly if it fails the test it cannot be someones account). 

In the old days money received to a valid sort code but invalid account number would go into a suspense account for the receiving bank and then some poor sod would have to try and workout where its supposed to have gone which rarely happens and they await someone's bank trying to claim it. These days it seems more banks just bounce the money back within a few hours (though may take longer for it to clear). 

It's for the employer's bank to start the tracing process. 

saajan_12

So your employer (A) was supposed to send money to you (B) but actually sent the money to a 3rd party (C). The payment made was between A and C, so you or your bank (B) has nothing to do with it at the moment. Even if B and C have the same bank branch (if the sort codes were the same), they won't listen to your instruction anyway. Its for the employer A to request the money back from the account they paid ie C, via the respective banks. The timescale here will depend on whether C is a real account or not and hence whether the money is in a suspense account. 

Separately, your employer then needs to pay you (B), but they understandably won't until they get the money back from C, as it wasn't their mistake.