Paid money to wrong Sort Code? Advice needed please

mrwendal

Hi there,

I've paid for something via a bank transfer (online) but it appears that I've paid it into the wrong sortcode, but right account number.

I don't know where this has gone to as I tried to check the sortcode online but can't find anything. As this was a week or so ago, the payment is no longer pending so I can't cancel it.

I've called my bank who said that they will put a trace on this but it may take up to 7 working days for information to be found. However, the people that should have received the money say they will release our held flights as they haven't received the cash.

Am I doing the right thing? Is there anything else that I can do? I can't afford to double-pay until the money comes back in.

If anyone has any advice, this would be very much appreciated.

dunstonh

I've called my bank who said that they will put a trace on this but it may take up to 7 working days for information to be found. However, the people that should have received the money say they will release our held flights as they haven't received the cash.

bank accounts and sort codes need to match up with each other. There is a good chance that the sort code/account number you quoted doesnt belong to anyone and the receiving bank will automatically return the funds to the bank you paid it an it (or to your account if automated transfer using BACS).

Am I doing the right thing? Is there anything else that I can do? I can't afford to double-pay until the money comes back in.

Not a lot you can do at this stage. Perhaps show the person who was meant to get the money proof that you paid it, albeit to the wrong address and ask the bank to confirm in writing that they are looking into it and show that letter to the people.

mrwendal

dunstonh wrote:

bank accounts and sort codes need to match up with each other. There is a good chance that the sort code/account number you quoted doesnt belong to anyone and the receiving bank will automatically return the funds to the bank you paid it an it (or to your account if automated transfer using BACS).

Not a lot you can do at this stage. Perhaps show the person who was meant to get the money proof that you paid it, albeit to the wrong address and ask the bank to confirm in writing that they are looking into it and show that letter to the people.

Hi - thanks for your response.
Inbetween my post and yours, I took a trip into town and spoke to HSBC.
They have confirmed that a trace has been put on the missing money to see where it has gotten to.
The transaction occurred on 12/8/05 and hasn't been returned, possibly indicating a valid acc/sort code combination.
HSBC said that the 16-92-42 was a Royal Bank of Scotland sortcode. We popped into RBS and was told that although sortcodes beginning 16 ** ** were 'their' codes, the sortcode itself wasn't valid with them.

After speaking again to the flights people, we should be ok with the flights for now. It would be handy if there was a way to check the sortcode somewhere to see if there is another bank it could have gone to.

Thanks for all your help so far.

soolin

Sort code 16 92 42 appears to be a valid sort code used by JP Morgan bank so if the account number is valid as well you may have a problem.

On the ebay boards the use of bank transfers is considered a safe option for sellers to receive money as it is believed that a bank transfer, once received, can not be reclaimed. It would of course be entirely different if the sort code or account number is invalid.

If it turns out that a bank transfer can be recalled where the sender sent it in error then this will have serious repercussions on seller options, so I'll watch this thread with interest and be ready to remove bank transfers as a payment option if necessary.

Going back to the OP i hope this works out OK for you.

Soo

mrwendal

Thank you for your response.

How did you find out the sort code / bank?

Can you verify what 60 - 92 - 42 is?
Thanks

dunstonh

If it is a valid account number you could have problems indeed. Its been many years since I worked for a bank but a misposted credit transaction did result in some very long delays before getting money returned on occasion. Particulary if the recipient had drawn the money out. Its possible things have changed on that front though.

Every bank branch has at least one sort code book. Its a directory of sort codes and branches. HSBC should be able to tell you what branch has that sort code.

mrwendal

Thanks again for your post. I did find an online search for banks via sortcode (actually worth keeping in your favourites anyway!).

I signed up and got my 8 free searches. The first search i did was for the 'correct' code, which indeed returned details of the bank that i am trying to credit.
However, when i typed in the 'incorrect' sort code, it says that no matching bank records found.
So, hopefully, no-one has the money - but if not, why was it not returned! Hmm?!
Here is the website if you want it: http://www.afd.co.uk/

If I had hair - i think i'd be pulling it out by now!


PS: Is it possible that I could have credited an international account? Do they work in the same way (i.e with a sortcode/ac number?).

dunstonh

So, hopefully, no-one has the money - but if not, why was it not returned! Hmm?!

It will end up on some suspense statement somewhere and although these things used to be cleared daily in the past (with a day or two delay) its quite possible that they dont get cleared quite as often nowadays. I remember it used to take one individual nearly 3/4 of the day to clear the daily suspense account and that was on a medium size branch.

PS: Is it possible that I could have credited an international account? Do they work in the same way (i.e with a sortcode/ac number?).

No. Sort codes are a UK thing and BACS only works to clear UK items.

soolin

mrwendal wrote:

Thank you for your response.

How did you find out the sort code / bank?

Can you verify what 60 - 92 - 42 is?
Thanks

On a Google search, there are quite a few different entries but this one actually is quite useful:

http://www.kpitgnutools.com/wireTransferInfo.php

where it says part way down the page:

Sort Code - 60-92-42
JPMorgan Chase Bank
London

Also this one:

http://www.eminisonline.com/openaccount/euro.shtml

that states on the RH side:

ACCOUNT
Chase Manhattan Bank
London
SWIFT: CHAS GB2L,
Sort-code 60-92-42

I know banks cannot give any information out but might it be worth contacting the bank to see if they can help at all?

Soo

starlite_2

I had a similar problem last year..I paid rent into my OH's dads account, but got one digit wrong..we only noticed a week later when he realised he hadn't recieved it and I checked the reciept.
It was with natwest, and they were a bit of a nightmare..we had to prove to them that the intended recipient never got it..they took his dads statement (showing no such transaction), and the fact that we would be very unlikely to know someone with such a similar acc. no in order to commit fraud as enough evidence to repay it.
It was worrying as it was two months worth..almost £1000 but we eventually got it back
I did wonder att he time if the person that mistakenly recieved it had spent it , and what the bank could actually do to recover it under such circumstances.

donpage

If you want to check a sort code without registering.
It is sortcode.org. Just add www prefix and that is the website
Who have a very simple homepage. Simply enter the sort code and press 'search'.
Enjoy!