Incorrect bank transfer

[lexusit]

Stupidly, I sent a bank transfer to the right account no, right name, but wrong sort code.


Spoken to bank and they say sort code is invalid so it should be bounced anyway.


But, what would happen if I'd quoted a valid sort code/account no? Do the receiving bank check the name matches the account it goes into?
I've heard that according to the banking code they are supposed to do this?

 

[johndon68]

As long as the account number and sort code are correct, the transfer will take place, regardless of the name.

John

 

[lexusit]

As long as the account number and sort code are correct, the transfer will take place, regardless of the name.

John

Luckily, like I said bank have advised me that sort code I used is invalid. Also, checked myself and the sort code/acc no combination is invalid. Lucky really.

Are you sure the name isnt checked also?

 

[johndon68]

They can check the sort code but I'm not sure if one bank can validate the account number of an account at a different bank. Certainly when I worked in one, if money was transferred to an account with an invalid account number, the money arrived and was placed in a suspense account whilst an attempt was made to determine which account it should go to.

The name is irrelevant as far as the transfer is concerned.

John

 

[lexusit]

They can check the sort code but I'm not sure if one bank can validate the account number of an account at a different bank. Certainly when I worked in one, if money was transferred to an account with an invalid account number, the money arrived and was placed in a suspense account whilst an attempt was made to determine which account it should go to.

The name is irrelevant as far as the transfer is concerned.

John

Ah. I see. Sort code I used was 72-10-10 when I should have used 72-50-06. All of the 72-xx-xx codes belong to Alliance and Leicester but 72-50-10 is not used at all.

Wonder if I should contact alliance and leicester to see if their trying to put it in right account? Like I said, name and account no is correct but sort code is invalid.

 

[lexusit]

Phew. Panic over - money returned.