Anyone sent funds to the wrong account via bacs?

Mr_LoL

Has anyone here sent funds to the wrong account via Bacs? I did this last week when I was supposed to pay my landlord £475 but sent it to my old landladys ac by mistake. I told LLoyds about it last Wednesday. They say I have to wait 5 working days till I can have an update on what they are doing about it.

Frustrating. What a schoolboy error. How long does it usually take to get your money back in this instance?

heppy23

Mr_LoL wrote: »

Has anyone here sent funds to the wrong account via Bacs? I did this last week when I was supposed to pay my landlord £475 but sent it to my old landladys ac by mistake. I told LLoyds about it last Wednesday. They say I have to wait 5 working days till I can have an update on what they are doing about it.

Frustrating. What a schoolboy error. How long does it usually take to get your money back in this instance?

Not done it by bacs but I have done it with standing orders I have set up. With the standing orders they bounced back within a week. But I suppose if the target account exists. If it's an invalid number it will bounce back, if it's a proper number you may have to submit a query and get it looked into.

With all new standing orders I set up (to pay off credit cards and move money around) I always send a pound first to check it works OK.

ALIBOBSY

When we issue bacs payments at work if we call the bank liason section within 2 working days they can get the bank to recall it, but after a week it will probably be in the other account already.
ali x

darcyvuqua

yes if the name does not meet the account details the recieving they will hold it then send it back when i did it it took a week to appear in the account that i sent it from this was only last month aswell

Mikeyorks

ALIBOBSY wrote: »

When we issue bacs payments at work if we call the bank liason section within 2 working days they can get the bank to recall it, but after a week it will probably be in the other account already.
ali x

That's using BACS Direct Credit - where a recall is offered. Very different with Bank to Bank BACS. Recalls are only done normally to correct Bank initiated errors .. it's not a 'customer' service. But you're quite right - too late for that. Just trust the OP parted from the old landlady on good terms .. as that's the only guaranteed route to getting the money back quickly.

darcyvuqua wrote:

yes if the name does not meet the account details the recieving they will hold it then send it back

Sorry - but that's wrong. Only the Sort Code / Account Number are used - there is no name check

oldagetraveller

Yes.
At the time my current account was with LloydsTSB and I instigated a BACS transfer to a Northern Rock savings account. I entered the wrong account number but the money "disappeared" into the ether and not, fortunately, into someone elses account as your's has done. As £4000 was involved it was a bit scary!
Northern Rock were totally uninterested and unhelpful. LloydsTSB were excellent, I think the department involved was in Glasgow. They, LTSB, located the money and it was back in my current account within a week. I even sent a letter to the department complimenting the service and the rep. who was dealing with the issue.
Don't know if it was up to NR or TSB to sort this out or a joint effort but as previously mentioned NR were most unhelpful and unsympathetic towards me.

Mr_LoL

oldagetraveller wrote: »

Yes.
At the time my current account was with LloydsTSB and I instigated a BACS transfer to a Northern Rock savings account. I entered the wrong account number but the money "disappeared" into the ether and not, fortunately, into someone elses account as your's has done. As £4000 was involved it was a bit scary!
Northern Rock were totally uninterested and unhelpful. LloydsTSB were excellent, I think the department involved was in Glasgow. They, LTSB, located the money and it was back in my current account within a week. I even sent a letter to the department complimenting the service and the rep. who was dealing with the issue.
Don't know if it was up to NR or TSB to sort this out or a joint effort but as previously mentioned NR were most unhelpful and unsympathetic towards me.

Well they are being difficult with me. Its been a week now and someone hasn't even looked into it yet.

soolin

You will have problems as it looks like the payment went into a valid account therefore it can't just be taken back because you say you sent it in error.

Bank transfers are clear the moment they hit the recipient account, that's why ebay sellers love them as there is nothing that the sender can do to get that money back without recourse to small claims and even then it can be problematic.

The only difference would be if the account the money was sent to was not valid, then the payment bounces around for a while and then eventually goes back to the sender.

QHSE

Hi can anyone confirm for certain that only the Sort Code / Account Number are used - there is no name check. I am in the process of paying for childcare and have used the name of the nursery but my account details as the fees have already been paid. Please help

Biggles

QHSE wrote: »

Hi can anyone confirm for certain that only the Sort Code / Account Number are used - there is no name check. I am in the process of paying for childcare and have used the name of the nursery but my account details as the fees have already been paid. Please help

The name doesn't matter.

Edit: Sorry, are you saying you paid yourself? Surely the funds won't have left, then? Or did you send from your account with one bank to your account with another bank?

QHSE

I just applied for nursery fees i had already paid in cash so on the BACS form there is the nursery name but my account number and sort code is anyone Certian Only the Sort Code / Account Number are used - there is no name check. Replies Much apprecaited. and Mikeyorks you have a message thanks