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OMG I sent nearly 24K to an incorrect sort code! HELP HELP PLEAAASE

(15 Posts)
pickie Thu 31-Jul-08 15:06:00

Instructed sollicitor to sent me the money but have given an incorrect sort code, should have been 60 but typed 16 instead! How stupid am I?? CHAPS transfer done on Tuesday.

Anybody any experience how to get it back as cost effective and swiftly possible?

Sitting here hyperventilating hoping MN can offer a pearl of wisdom!!

jelliebelly Thu 31-Jul-08 15:08:35

The person who sent you the money needs to get in touch with their bank ASAP to find out if they have had the money back. CHAPS transfers are done same day so they should already know if the funds were returned. If by some unfortunate coincidence there is an account at that sortcode with the same account number as you that has received the money the solicitor's bank should be able to ask for the money back.

hairtwiddler Thu 31-Jul-08 15:15:17

I'm not sure if this is the same thing but my salary was paid into the wrong account recently because I made a mistake with sort code. It was a double error though because the bank should have checked that the name of the account didn't match the payee.
My bank had to write to the person who owned the account, and if they didn't contest the money was theirs, the money was transferred out after a period of time. I think it was 14 days but can't be sure of that.

Hope it's different with chaps transfers and that maybe your money has been bounced back.

Good luck.

pickie Thu 31-Jul-08 15:38:34

thanks for the replies. yes the sort code was an excisting one (RBS), the senders bank have requested a recall but RSB is not responding.

I dont understand how it did go through though as clearly the account number , account holder and address didnt match

allytjd Thu 31-Jul-08 16:24:43

I have done almost the same thing, spookily for the same amount. I paid it into a bulding society but didn't put my mortgage account no. on it(I had asked the bank teller to check the form for me but he didn'e notice!). It disappeared for 24hours but was then retrieved, can't remember what I did to sort it out in the end, it got a bit complicated, but just to let you know that it was fine in the end.

pickie Thu 31-Jul-08 16:31:00

thanks Ally, was quite relaxed about it all, thought it would go to a holding account and swiftly returned but that doesnt seem to be the case and the sending bank is not helpful at all

poppyknot Thu 31-Jul-08 17:30:01

Don't rely on either bank 'doing the right thing'.

We had a problem when MIL put some money in DH's account. Somewhere along the line the wrong a/c number was used (MIL's bank blamed her and wouldn't help at first) and the money went to AN Other. Apparently the name of the account holder cannot be checker (???!!!). Of course Data protention was mentioned at every turn.

We had to persevere to get the money back.

I would say at this early stage badger your bank and don't assume that the recipient will be as honest as you would be.

I don't want to sound gloomy but ACT NOW and good luck!!

QuintessentialShadows Thu 31-Jul-08 17:35:21

You really have to act quick.

I recently sent 10k somewhere, and by mistake my bank sent 10k to the same place when they out of the blue resurrected an old standing order that had not been in use for over a year. angry Anyhow. The bank could not just take the money back. They had to request the money back from the recipient, and the recipient had to agree. If the recipient did not comply, then I would have to take the matter in hand in different ways, by involving the police as it would be theft.

wotulookinat Thu 31-Jul-08 17:46:45

I hope you sent it to my bank account grin

poppyknot Thu 31-Jul-08 17:47:44

Forgot to say - as this was through a solicitor they might be able to advise on the legal status.

Good luck again..........

pickie Thu 31-Jul-08 17:52:36

as it wasnt my bank sending it but my sollicitors it makes it all the more complicated.

They have initiated the recall but the receipient bank doesnt have to give it back and then obviously will have to take legal steps!

what a mess!! Just what I needed!

ElfOnTheTopShelf Thu 31-Jul-08 17:55:48

IME it is rare not to get the money back quickly.
I work in a team that deals with money in and out of a company bank account (s) and they usually get resolved quickly.

pickie Thu 31-Jul-08 17:59:24

thanks Elf, I assumed that as well hence I was relaxed about it all but then googled it and loads of negative stories came up and starting to worry a bit.

also read email the soll. bank sent to them and does look ok BUT started stressing when I read the below!

Receiving Banks are not legally obliged to return the funds therefore
recalls are set up on a best endeavor basis.

ElfOnTheTopShelf Thu 31-Jul-08 18:07:03

banks sometimes end up sorting it out between themselves via suspense accounts, iyswim, or that has been my experience in the past.

pickie Tue 05-Aug-08 14:23:14

Very relieved, it has been returned to the sollicitors account! Now all I have to do is make sure they have the right details this time grin

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