K
Hi Kate,this is an Irish site,not sure about data protection regs in the UK but it sounds like a load of rubbish,ring your Branch on Monday am and speak to someone there that will be some help to you...this happens a lot and for someone associated with your bank to tell you that they cannot interfere or help is absurd.
I suspect that the money will eventually "bounce" back if the destination account does not exist. I did something similar before - large transfer from one (PTSB) a/c to another, got the destination sort code wrong but it happened to be valid and identified another PTSB branch. However I suspect that the combination of "wrong" sort code and "correct" account number did not actually identify a valid account. Took a few days but the money "bounced" back. If the mistaken details had identified a valid account then I don't know what would have happened - e.g. how much hassle it might have been to reclaim the mistaken transfer.Thats a interesting question, i done a transfer myself and I inputted the wrong sort code for a AIB branch but the right account number in my local AIB, there is no sort code to match what I typed in so what happens now? Anyone any ideas?
Hi
I bank with Natwest and made an online instant payment to (what I thought was) my partners lloyds TSB credit card account.
I inputted the account number wrongly and now my bank are saying I cant find out where it went to and they cant help me at all because of the data protection act.
Please please please help! I need to find a way to get this money back to the correct account.
Thanks
Kate
I presume that online banking systems don't necessarily (or at all?) do this check in real time/interactively but rather at the "back office" end once the transfer request has been entered into the system?A lot depends here whether or not the funds have gone into an actual live bank account or not. Banks use a system called modulus checking to see if the details input are correct, in effect it takes the 6 digits of a sortcode, the 8 of the account number and performs a mathamatical algorithim on these numbers, if the answer is a particular amount, then it is a valid account number.
I presume that online banking systems don't necessarily (or at all?) do this check in real time/interactively but rather at the "back office" end once the transfer request has been entered into the system?
However there are a number of precidents that would help mthe case of the OP. Errors in implementing account numbers are normal in the banking system. Just because someone inputs an incorrect account number and funds are transferred to your account does not entitle you to hold on to the funds. In fact a number of legal cases have held that spending these funds is effectively theft.
In the event that the lodgement slip contained the correct name of the account but the account number was incorrect the Bank should immediately reverse the lodgement transaction. In my experience most banks will do this provided the transferror can clearly point to the transaction being an error. The request should be made directly to the account holding Bank with full facts. they will have a copy of the lodgement slip to check to their own satisfaction that the error was made.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?