where has my money gone?

Section62

MeteredOut said:

Section62 said:

Exodi said:

mta999 said:

I think redirection lasts for a lot longer than one year

eskbanker said:

Exodi said:

la531983 said:

Did you use the official switching service at the time you moved accounts?

eskbanker said:

Presumably you didn't use the current account switching service, which would redirect such payments to your new account?

I think even if the OP had used a switching service this could happen. For example if the company was manually making the payments. Plus I believe the switching service only switches DD's and only temporarily redirects other payments for one year (during which time you're supposed to get in touch with companies with your new bank details). If this isn't done, then the redirection would end and the payments would continue going to the old account.

mta999 said:

I think redirection lasts for a lot longer than one year

Yes, redirection is for a minimum of three years and then continues as needed until a 13 month period elapses where no payments are redirected.  Paying 'manually' is the same as any other so would be redirected.

Thanks, every day is a school day.

Also, each redirected payment should result in an automatic notification to the sender to advise them of the correct new details. (which needs to be actively opted out of if you don't want people to know the details of your new account)

Even if the payment is manual?

AIUI for an individual making a (manual) payment the notification would be made to their bank - the bank should then update SO or 'saved payee' records.  Whether or not the bank also notifies the customer probably varies between banks.

As the OP was paid by a company I believe an automated notification should go to the company... but couldn't swear to that. It may vary by size of company and payment/banking method.

retrev

Thanks everyone. Has anyone any suggestions as to how to get to the right department in the receiving bank?
I have posted a complaint as most of the ways of contacting them need yes or no answers and the robots keep redirecting me to each other.

retrev

And no, i simply closed the account because i was so fed up with them.

MeteredOut

retrev said:

And no, i simply closed the account because i was so fed up with them.

What is this in response to?

And if you really want people to help, you really should answer the questions people have asked.

Was this a business or personal account?
Were the transfers systematically or manual?
What was the total amount (it it worth chasing)?
Have you asked the company who transferred if they have any sort of reference?
What dates where these transfers? When was the most recent?

Closing the account will make it harder to get a resolution. Have you raised a complaint? Ultimately, you can take it to the Financial Ombudsman, but you will need to provide evidence of the transfers.