Money being paid into recently closed account

[LosingGrip]

I've sold some shares that I had and forgot to check the account it's being paid into. It's going to an old one that was closed a couple of weeks ago via the switch guarantee.

I've been struggling to Google about what happens.

Do I need to do anything? Or will it automatically come to my new account?

[Garemberg]

It'll turn up eventually, I had the same with a refund to a closed credit card

[Countdown]

LosingGrip said:

I've sold some shares that I had and forgot to check the account it's being paid into. It's going to an old one that was closed a couple of weeks ago via the switch guarantee.

I've been struggling to Google about what happens.

Do I need to do anything? Or will it automatically come to my new account?

if it's via the switch thing and it's only been a couple of weeks then the Old bank "should" redirect it to the new bank as well as notifying the Payer to update their account details.

If they don't redirect it will either
- go into your old account (so you should be able to withdraw)
- it will bounce back to the Payer within 30 days (so you would need to contact them and ask them to re-issue payment)
- it will go into the Receiving bank's suspense account.

What I would do is
- check your new account
- check your old account
- ask the old bank where the money has gone. They will tell you if it's in suspense or if it's bounced back

[LosingGrip]

Thanks for the replies...

Turned up today in my new account without any issues.