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Clawing Back Payment Made To Wrong Bank Account

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

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

The issue is that such wrong payments can easily be made since the online b anking systems of banks have all changed over to using the Faster Payments Service (FPS). This does not involve using computer check digits to check t hat an intended recipient's (payee) account no. & sort code are correct. A lso 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 fal ling foul of the system and then due to lethargy by their respective banks finding it next to impossible to clawback incorrect payments.

Thank you.

Reply to
CJB
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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].

Reply to
Roger Mills

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)

I had cause to remind someone of that a few months ago.

(forget what she was cutting)

tim

Reply to
tim.....

It doesn't help when some bank software (such as that used by the co-op) then automatically add trailing zeros to account numbers.

Reply to
alan

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