Online transfer to incorrect payee in error

Alkers

I mistakenly transferred some money from my account to an old payee I had setup on my internet banking :o:o. I do not know this person or remember why I had them setup as a payee, possibly I purchased something from them on adverts.ie or something. My own bank has confirmed I have not sent or received anything to this person in 4 years (they could not check back any earlier).

When I noticed the error (over 24 hours later), I called my own bank to be told that there was nothing they could do, other than give me the account details (which I already had) as the payment had been processed.

I contacted the payee's bank last Thursday explaining the situation and left my contact details with the understanding they were going to ask the recipient of the money to contact me. I have still not heard anything from the recipient or the bank.

I am going to call the bank again now and request an update although I do not have any details as to who I was talking to on the last occasion. I was just wondering what my next options are if I don't hear anything from the payee?

Thanks

daheff

theres not much you can do.

If its a significant amount of money, you can ask nicely and hope the recipient hasnt spent the money....but its really up to the recipients bank to return the money to you.

That said, there have been cases in the media of people not returning funds paid accidentally into their accounts, but there isnt really a mechanism in place to recall a payment.

emeldc

If a bank sends money in error and doesn't get it back, it's theft. Why would it be any different here?

newacc2015

My suggestion is to go into a branch of the Payees account and ask to speak to a manager. Tell them the situation and that unless the funds are in your account within 5 working day, you will be going to the Gardai for theft.

hungry hypno toad

newacc2015 wrote: »

My suggestion is to go into a branch of the Payees account and ask to speak to a manager. Tell them the situation and that unless the funds are in your account within 5 working day, you will be going to the Gardai for theft.

Neither bank has any responsibility here, threatening the payees bank will get the OP nowhere. The OP needs to deal with the payee and if necessary involve the Gardai to follow up with the payee re theft. The payee may not even know the payment has been lodged yet, so 5 days is optimistic.

emeldc

I don't think the OP will be able to get contact details for the payee. Data protection and all that shizz.

Bubbaclaus

newacc2015 wrote: »

My suggestion is to go into a branch of the Payees account and ask to speak to a manager. Tell them the situation and that unless the funds are in your account within 5 working day, you will be going to the Gardai for theft.

The bank manager would laugh at you if you did that, along with the Gardai. What theft have the bank done?

Alkers

daheff wrote: »

That said, there have been cases in the media of people not returning funds paid accidentally into their accounts, but there isnt really a mechanism in place to recall a payment.

That's exactly my thoughts on this, they were more significant sums and iirc there were custodial sentences handed down.

The other bank have stated they will try and make contact with the customer but that this is on a "best efforts" basis and keep saying it was my own error - yet it appears if this had been their error, this payee could be subject to prosecution.

super_furry

The bank executed your request as requested, they won't entertain you. Best you can hope for is that the guy you sent it to has a conscience.

Alkers

super_furry wrote: »

The bank executed your request as requested, they won't entertain you. Best you can hope for is that the guy you sent it to has a conscience.

I'm aware of that but it seems strange that if the error had been the banks and not mine, the person receiving they money would be subject to criminal prosecution.

newacc2015

hungry hypno toad wrote: »

Neither bank has any responsibility here, threatening the payees bank will get the OP nowhere. The OP needs to deal with the payee and if necessary involve the Gardai to follow up with the payee re theft. The payee may not even know the payment has been lodged yet, so 5 days is optimistic.

How is it threatening? Just because I telling OP to be proactive and speak to the other bank about it and giving them a deadline?

What you are suggesting is telling OP to do nothing. Sit there and hope the customer who received the money in error realises eventually and that they discuss it with the bank. I can see why five days is optimistic, when your suggestion is that bank does nothing and OP sits there hoping it works out in the end.

My suggestion is asking the bank of the customer how banks received the money in error to call/write to the customer to discuss this.

Are you saying that the bank is supposed to hand OP the payees details and let them deal with it? What about data protection? Im sure a bank can't hand you the payee details of a customer and tell you to 'deal with it'.

uRbaN

I was in this situation a few years ago. It wasn't a significant amount but enough to go chasing.

The best the payees Bank can do is make contact with the payee. That is it. If the payee decides not to do the honourable thing, you have zero recourse as far as I am aware.

In my case, the payee did return the money but the whole episode was highly embarrassing and awkward. I had transferred money to somebody I hadn't seen in about 6 years. They were away on holidays, I thought they were taking the money and running. I made a few waves via friends and known associates; seemed like a good idea at the time. Got the money back but lost a lot of credibility, and rightly so.
Deleted nearly every payee after that and am always dead wary now when transferring money.

emeldc

Simona1986 wrote: »

That's exactly my thoughts on this, they were more significant sums and iirc there were custodial sentences handed down.

The other bank have stated they will try and make contact with the customer but that this is on a "best efforts" basis and keep saying it was my own error - yet it appears if this had been their error, this payee could be subject to prosecution.

That's because they'll call the Guards in. It really depends how much you've lost whether you think its worth it or not. If you make a complaint, (no matter how small the amount) they are obliged to follow it up.

hungry hypno toad

newacc2015 wrote: »

How is it threatening? Just because I telling OP to be proactive and speak to the other bank about it and giving them a deadline?

What you are suggesting is telling OP to do nothing. Sit there and hope the customer who received the money in error realises eventually and that they discuss it with the bank. I can see why five days is optimistic, when your suggestion is that bank does nothing and OP sits there hoping it works out in the end.

My suggestion is asking the bank of the customer how banks received the money in error to call/write to the customer to discuss this.

Are you saying that the bank is supposed to hand OP the payees details and let them deal with it? What about data protection? Im sure a bank can't hand you the payee details of a customer and tell you to 'deal with it'.

Telling the bank they will go the Gardai in 5 days is a threat. Of course the bank won't give the payee details, the OP needs to wait a reasonable time for the payee to refund the money and it that doesn't happen then follow up with the Gardai.

I don't understand how the OP can have a payee without having their contact details, at very least an email address, have you checked your email history OP?

Alkers

hungry hypno toad wrote: »

I don't understand how the OP can have a payee without having their contact details, at very least an email address, have you checked your email history OP?

I have searched all of my private messages from boards.ie and all of my email correspondence as I was thinking it must have been from something I purchased online, maybe back when boards.ie had a "for sale" section but I didn't have any hits.

All my bank could tell me is I hadn't sent or received any money from this person in the last 4 years, they weren't able to search back any further.

daheff

emeldc wrote: »

If a bank sends money in error and doesn't get it back, it's theft. Why would it be any different here?

newacc2015 wrote: »

My suggestion is to go into a branch of the Payees account and ask to speak to a manager. Tell them the situation and that unless the funds are in your account within 5 working day, you will be going to the Gardai for theft.

no theft involved here. Its a case of making a mistake.

You can certainly advise the Gardai, but wouldnt be too optimistic on them helping.

emeldc

daheff wrote: »

no theft involved here. Its a case of making a mistake.

You can certainly advise the Gardai, but wouldnt be too optimistic on them helping.

A mistake on the OP's part,yes. But if the payee doesn't return the money it becomes a theft, similar to 'theft by finding'.

(4) If at the trial of a person for theft the court or jury, as the case may be has to consider whether the person believed—

(a) that he or she had not acted dishonestly, or

(b) that the owner of the property concerned had consented or would have consented to its appropriation, or

(c) that the owner could not be discovered by taking reasonable steps.