Reversal of BACS payment

[James_B]

SantaBarbara said:

What I said is totally True.

True and irrelevant.

They can also request that the bank manager come round and blow them. Both requests have equal authority and equal probability of being complied with if they are made via faster payment.

[Your Dad]

VAGLover said:

SantaBarbara said:

Employers are able to request return from your bank of salary payments sometimes.

No they can’t

Read my previous response and you'll realise you're misinformed.

[Red Devil]

Your Dad said:

If a BACS payment is made incorrectly then the payer can request the funds are returned. The payee can refuse but there's a legal way to recover (can't remember the legislation and I can't be bothered to walk over to our BACS bureau team and ask).

Are you referring to this update to banking industry procedures? - http://www.fasterpayments.org.uk/press-release/new...
I'm not aware of any specific legislation re recovery. If the payee refuses or raises a dispute the payer would have to follow the normal court process for a money claim.

[Countdown]

Your Dad said:

VAGLover said:

SantaBarbara said:

Employers are able to request return from your bank of salary payments sometimes.

No they can’t

Read my previous response and you'll realise you're misinformed.

Your previous response suggested recovery by legal means. In principle that's no different to taking somebody to court for fraud/theft. It is NOT an automatic reversal of a payment.

If there IS such a process I'd love to know how it works. We are struggling to get people to stop paying US, let alone recovering money from people that we have paid incorrectly.

[MorganP104]

KungFuPanda said:

Well the money is still there. The guy plans on paying three further instalments and then collecting when the final instalment has cleared...

This seems legit to me.

The only problem I can find is that the buyer hasn't seen the car yet. What if he rocks up after making all the payments, and rejects the car?

[TimmyMallett]

I'm sure you've all figured this out by now (just seen the op edit) but none of this is BACS, it's all going via the Faster Payments scheme.

It's important as different schemes have different rules about reversals.

http://www.fasterpayments.org.uk/faqs

Edited by TimmyMallett on Sunday 22 October 11:11

[SantaBarbara]

Civil servants who have accidentally been overpaid can find that their salary payment is withdrawn from their bank shortly after it arrives at the bank. True