bank transfer worry
Discussion
Im hoping someone can help here
I customer paid an invoice bank transfer to my business account
I gave the name on the account, the sort code and account number
For some reason the I added an extra 0 to the account number I provided him. For example
I gave 001234567 whereas it should have been 01234567 - ie added an extra 0 by mistake
The sort code was correct. The money is showing left from his account but not in mine.
What will have happened? Surely as a 9 digit acc number was entered it cant have gone anywhere?
Or will it have just accepted the first 8? Surely a mechanism must stop this?
Customer due to speak with bank tomorrow but as it was a decent amount - just less than a grand, were both worried.
I'm embarrassed and also could be out of pocket and customer annoyed about my silly mistake.
Can someone in banking please try and help as to what may have happened and if my customer could have chance of reversing/cancelling it?
Any help greatly appreciated
A very concerned Lord Trumpton
I customer paid an invoice bank transfer to my business account
I gave the name on the account, the sort code and account number
For some reason the I added an extra 0 to the account number I provided him. For example
I gave 001234567 whereas it should have been 01234567 - ie added an extra 0 by mistake
The sort code was correct. The money is showing left from his account but not in mine.
What will have happened? Surely as a 9 digit acc number was entered it cant have gone anywhere?
Or will it have just accepted the first 8? Surely a mechanism must stop this?
Customer due to speak with bank tomorrow but as it was a decent amount - just less than a grand, were both worried.
I'm embarrassed and also could be out of pocket and customer annoyed about my silly mistake.
Can someone in banking please try and help as to what may have happened and if my customer could have chance of reversing/cancelling it?
Any help greatly appreciated
A very concerned Lord Trumpton
If the account number given doesn't actually exist the funds should be sat in a suspense account and unclaimed funds and would usually be sent back to the sender or the senders bank after a week or so.
It starts to get VERY murky if the numbers given are actually somebodies account and you've basically just give them cash.......in these instances I don't think the bank has the authority to just remove it from their account...........
It starts to get VERY murky if the numbers given are actually somebodies account and you've basically just give them cash.......in these instances I don't think the bank has the authority to just remove it from their account...........
If the sort code was correct it should have landed with the correct bank, as they wont know how to route it it will go into their holding account while they investigate. Get in touch with your bank and explain, expect they will find it and return it to the customer fairly quickly. Only complication I can imagine is where some account at that sort code has an account number matching 00123456 thus it's been deposited.
As above, the correct branch of the bank will get the money so it will either be in a suspense account with them or, because any 9-numeric account number is automatically invalid, it may be held at an earlier stage in the process. In either case it should be fairly easy to track and reroute correctly.
You could always ask him to send a nominal amount (say £1) to your CORRECT 8 digit account number with a random 9th digit added.
Then if it turns up in your account... you know the money is most likely in someone else's account, rather than holding in the banks "don't know where to route it" fund.
Then if it turns up in your account... you know the money is most likely in someone else's account, rather than holding in the banks "don't know where to route it" fund.
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