My bank won’t initiate a recall

Section62

HobgoblinBT said:

This case demonstrate why you should review the payee list on your Internet banking and delete those no longer applicable to void such issues from occuring

Good advice to review and delete payees where you might have problems getting your money back if you make a mistake, but why would you delete the payee details for a friend (or any other payee) who you may want to make a payment to in the future?

Section62

Ayr_Rage said:

Revolut are correct, you paid a known payee.

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

Generally this forum advises people not to return payments themselves, but to wait for the sending bank to ask for it back.  Does that advice need to change?

la531983

Section62 said:

Ayr_Rage said:

Revolut are correct, you paid a known payee.

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

Generally this forum advises people not to return payments themselves, but to wait for the sending bank to ask for it back.  Does that advice need to change?

Surely it depends on the circumstances.  If i paid my mate by mistake I would simply ring them and ask for it back, rather than trying to initiate banking processes and posting on a forum.  But maybe that's just me.

HillStreetBlues

Section62 said:

HobgoblinBT said:

This case demonstrate why you should review the payee list on your Internet banking and delete those no longer applicable to void such issues from occuring

Good advice to review and delete payees where you might have problems getting your money back if you make a mistake, but why would you delete the payee details for a friend (or any other payee) who you may want to make a payment to in the future?

Some banks are stuck in the dark ages  where you can't rename a payee so you can have two entries such as "John Smith"

grumpy_codger

Section62 said:

Ayr_Rage said:

Revolut are correct, you paid a known payee.

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

Generally this forum advises people not to return payments themselves, but to wait for the sending bank to ask for it back.  Does that advice need to change?

I think the advice is not to forward a payment. Is there any potential problem with returning a payment to where it came from?
That said, I do understand that there can be no reliable way to be sure about the exact origin of an icoming payment.

masonic

grumpy_codger said:

Section62 said:

Ayr_Rage said:

Revolut are correct, you paid a known payee.

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

Generally this forum advises people not to return payments themselves, but to wait for the sending bank to ask for it back.  Does that advice need to change?

I think the advice is not to forward a payment. Is there any potential problem with returning a payment to where it came from?
That said, I do understand that there can be no reliable way to be sure about the exact origin of an icoming payment.

The issue is where the recipient may subsequently attempt to recall the payment and dispute that the payment you made had anything to do with the payment they are recalling. Though I would be surprised if a return payment for exactly the same amount, with a suitable description in the reference field, wouldn't be convincing as a return.

Hoenir

HillStreetBlues said:

The bank still has a duty to try and recover the money as it's still a misdirected payment.

The recepient still has to agree to the return. The bank can little more than submit a request. Recepient says no. Back at square one. 

HillStreetBlues

Hoenir said:

The recepient still has to agree to the return. The bank can little more than submit a request. Recepient says no. Back at square one. 

I agree not much the bank can do if recipient say no,  but the bank needs to ask, the issue is they didn't so no one knows what the recipient would say.