Clawing Back Payment Made To Wrong Bank Account


C

CJB

The Government has apparently introduced a simpler more effective process for clawing back payments made to a wrong bank account number.

Please can someone give me a URL or webpage that explains this new (improved?) process.

The issue is that such wrong payments can easily be made since the online banking systems of banks have all changed over to using the Faster Payments Service (FPS). This does not involve using computer check digits to check that an intended recipient's (payee) account no. & sort code are correct. Also it does not match payments by the surname of an intended recipient.

Googling it seems that quote a lot of folks making payments via FPS are falling foul of the system and then due to lethargy by their respective banks finding it next to impossible to clawback incorrect payments.

Thank you.
 
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R

Roger Mills

The Government has apparently introduced a simpler more effective process for clawing back payments made to a wrong bank account number.

Please can someone give me a URL or webpage that explains this new (improved?) process.

The issue is that such wrong payments can easily be made since the online banking systems of banks have all changed over to using the Faster Payments Service (FPS). This does not involve using computer check digits to check that an intended recipient's (payee) account no.& sort code are correct. Also it does not match payments by the surname of an intended recipient.

Googling it seems that quote a lot of folks making payments via FPS are falling foul of the system and then due to lethargy by their respective banks finding it next to impossible to clawback incorrect payments.

Thank you.
Oh dear! How much have you mislaid by entering the wrong account number
and/or sort code?

Always check what you have entered at least 3 times before hitting the
GO button! [A bit like "measure twice, cut once" in woodwork].
--
Cheers,
Roger
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T

tim.....

Roger Mills said:
Oh dear! How much have you mislaid by entering the wrong account number
and/or sort code?
doesn't really work like that though does it.

If your brain missed the error on entry it will quite likely miss it on the
check

The worse thing with these bank account numbers is that they (mostly) no
longer include a check digit so simple transpositions are not rejected as
invalid, they likely point to someone else's account.

We should do what the Germans are doing and insist on using the full IBAN
number which does include a (actually I think it's 2) check digit(s)
Always check what you have entered at least 3 times before hitting the GO
button! [A bit like "measure twice, cut once" in woodwork].
I had cause to remind someone of that a few months ago.

(forget what she was cutting)

tim
 
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A

alan

Always check what you have entered at least 3 times before hitting the
GO button! [A bit like "measure twice, cut once" in woodwork].
It doesn't help when some bank software (such as that used by the co-op)
then automatically add trailing zeros to account numbers.
 

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