My bank won’t initiate a recall

Glasgowguy101

I wonder if anyone can confirm if something my bank, Revolut, is correct or not. I searched the internet and cannot find a definitive answer. 

I was paying a friend back money they had lent me, but when I selected them from my payee list I selected the wrong payee - 2 friends with similar names. 

I realised what I’d done immediately and contacted Revolut to initiate the recall process - they point blank refused.  The reason they cited was that the recall process is for when the wrong payee has been sent money because I typed in the incorrect sort code or account number,  but because I selected a payee who I had sent money to before, that’s why they couldn’t initiate the recall process.  They said this is a banking wide policy.  I can’t see that anywhere and I wonder if it is their policy.  

Can someone advise please? 

grumpy_codger

MSE article: 

Sent money to the wrong bank account?

I don't see anything about a payment to an existing payee being an exclusion.

Ayr_Rage

Revolut are correct, you paid a known payee.

Contact the friend you sent the money to by mistake and ask them to return it.

flaneurs_lobster

I did similar last year with a payment to a relative. Asked my bank if I could reverse it, they said no.

Hoenir

Is your friend refusing to return the money? 

la531983

Hoenir said:

Is your friend refusing to return the money? 

Wouldn't be a friend in my view if they didn't. Although surely just asking them to pay it back is by far the quickest and easiest way to resolve this, I agree 

anna42hmr

There is an best endeavours process the bank can attempt if they choose to do so, but dont believe they are obligated to, unless they are at fault for the incorrect payment in some way.  however with those ones they can contact the receiving bank and ask for the funds back, whom will then contact their account holder to confirm, so even on the best endeavours basis, it is better for you to ask your friend for the money back first. 

HillStreetBlues

The bank still has a duty to try and recover the money as it's still a misdirected payment.
Have a read of an Ombudsman's decision https://www.financial-ombudsman.org.uk/decision/DRN0487863.pdf
Slightly more to it than the OPs, but in essence the person paid their old landlord who was still on their payee list, Ombudsman made clear they expected the bank to commence trying to recover the money within 2 days.

I would also have expected HSBC staff to have explained the
agreed protocol on misdirected payments and to have started the process there and then.
And to have made sure that Miss S left the branch knowing exactly what was going to
happen and made aware of the possibility of her not receiving all or some of her money.
Miss S should also have been advised of what her other options were in those
circumstances, such as court proceedings or contacting the police.

Clearly that Ombudsman classed it as a misdirected payment even thou it was on their payee list.
I would wait until two days have passed then raise a formal complaint that a misdirected payment wasn't raised within the 2 day time-frame in line with the guidance.

friolento

Do you owe the wrong recipient any money? Do they owe you any, aside from the misdirected payment?

HobgoblinBT

This case demonstrate why you should review the payee list on your Internet banking and delete those no longer applicable to void such issues from occuring

badmemory

It is always possible that the friend you sent it to in error cannot return it because they are already over their overdraft limit.