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
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.
- posted 5 years ago