Money sent to wrong bank account - nightmare

[Pink_Fairy_Dust]

My grandmother recently went to her bank to transfer some money to me as a gift (quite a bit). We went over and over that she had the right account number and sort code, me reading it to her and getting her to quote it back to me from what she had written... I was talking to her tonight and she told me that she did the transfer last Monday and so I checked just now and it isn't in my account. I hadn't realised she was planning to go this week and do it. I got her to check the piece of paper she had and it turns out she has out some digits down incorrectly or can't read her handwriting so she has basically got her bank to transfer the money to the wrong account!

Is the money lost or is there anything we can do to get it back? I'm upset its happened but feel worse for her as shes 86, having a hard time with the isolation situation at the mo and this will destroy her...

[sully301]

you should be able to get it back. I had someone transfer some money into my account once. I highlighted it to the bank and they took it back. if the other person had highlighted it too they would have acted apparently

[Twentyyears]

It depends if it bounced back? If no such account exists it will do that. If it does then that’s where it will go.
The trouble is with GDPR she will have to ring and try to get them to see if it has bounced or where it has gone.
If they haven’t contacted her I expect it has gone 8nto someone’s account. If so the bank will try and get them to return it.

[Pink_Fairy_Dust]

Originally Posted by sully301

you should be able to get it back. I had someone transfer some money into my account once. I highlighted it to the bank and they took it back. if the other person had highlighted it too they would have acted apparently

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Fingers crossed! Lets hope they are as honest as you x

[Pink_Fairy_Dust]

Originally Posted by Twentyyears

It depends if it bounced back? If no such account exists it will do that. If it does then that’s where it will go.
The trouble is with GDPR she will have to ring and try to get them to see if it has bounced or where it has gone.
If they haven’t contacted her I expect it has gone 8nto someone’s account. If so the bank will try and get them to return it.

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Yeah she hasn't had a call to say the money was being returned to her so guessing it must have gone into a real account, that or it wasn't a real account and its just been returned straight away without a call

[tspill]

What has the bank said?

[Pink_Fairy_Dust]

Its all sorted, after a long wait she got through and the money bounced back into her account but they don't notify you... shes 86 so doesn't have online banking to check, phew... thanks

[Slinkydog]

Usually if incorrect account details have been processed and an account doesn't exist with the details she has incorrectly used then it will bounce back into her account.

So it might be worth her checking her bank account first just in case.

[nasty]

I worked in a bank for 25 years and I tell everyone to this day, if you’re setting up a new payee, send £1 only as the first payment. Then ask the person who you’ve sent it to to confirm receipt, then and only then, send the rest of the money.

That way if the information is incorrect, you’ve lost a £1. I understand banks are bringing in new regulations on money transfer soon so this may not be necessary going forward but I always err on the side of caution x

Edit. Glad you have it back. Huge relief xx

[honeybun1989]

Originally Posted by nasty

I worked in a bank for 25 years and I tell everyone to this day, if you’re setting up a new payee, send £1 only as the first payment. Then ask the person who you’ve sent it to to confirm receipt, then and only then, send the rest of the money.

That way if the information is incorrect, you’ve lost a £1. I understand banks are bringing in new regulations on money transfer soon so this may not be necessary going forward but I always err on the side of caution x

Edit. Glad you have it back. Huge relief xx

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This is what I do ..
Great advice!