bank help please

[sofa----king]

anybody know if a chaps bank transfer can be cancelled after its been in your account
thanks
 ironside dont answer lol./,.,.

[Geo the Sarge]

Going by you're previous thread, it was a same day transfer, therefore I believe it cannot be cancelled, a 3 day bacs TV can be within the 1st 2 days.

Geo

[The_duke]

There is NO way repeat NO way (other than a court order) that the money once lodged can be reveresed -- lol nice people do exist

[lazaroonie]

There is NO way repeat NO way (other than a court order) that the money once lodged can be reveresed -- lol nice people do exist

This is correct. Tayeb vs HSBC 1995.

[RichEO]

There is NO way repeat NO way (other than a court order) that the money once lodged can be reveresed -- lol nice people do exist

How do you know that? Your an IT guy not a bank guy.

[Graham C]

There is NO way repeat NO way (other than a court order) that the money once lodged can be reveresed -- lol nice people do exist

That's not correct, I've had money deposited into my account by accident before and have had to give it back.  Certainly no court order was needed then and I'd have been in trouble had I taken it out.

Where's Ed when you need him, he's a banking person

:point a camera in this thread:

[matt674]

There is NO way repeat NO way (other than a court order) that the money once lodged can be reveresed -- lol nice people do exist

That's not correct, I've had money deposited into my account by accident before and have had to give it back.  Certainly no court order was needed then and I'd have been in trouble had I taken it out.

Where's Ed when you need him, he's a banking person

:point a camera in this thread:

there is a difference though between you having to give the money back because someone else has made a mistake and the money being taken back without your knowledge or consent once it had been deposited in your account

[kinboshi]

If it's a deposit for goods that aren't delivered - what's the legal position there?

Surely in that case the £5K would have to be returned?

Hopefully it's all sound Sofa - and he's genuine.

[kvnstv]

If a chaps payment is made to the incorrect account you have to petition the account holder to return the money, If they refuse then its matter for the courts. If however the recipient knowingly spend's that money they will be held legally responsible for its reimbursement, there are dozens of case precedents just look on teh interweb. When we have an issue here we send a letter to the account holder explaining the situation and of there likely obligation to return the money. When its one of our customers who sends it to the wrong account, we contact the receiving account holder bank, who in turn contact the account holder and if they refuse they contact us and we take action on our customers behalf.  

That information’s from the Director of Operations at the bank I work in, so its sound as pound.

[lazaroonie]

There is NO way repeat NO way (other than a court order) that the money once lodged can be reveresed -- lol nice people do exist

That's not correct, I've had money deposited into my account by accident before and have had to give it back.  Certainly no court order was needed then and I'd have been in trouble had I taken it out.

Where's Ed when you need him, he's a banking person

:point a camera in this thread:

In terms of a chaps payment it is indeed quite correct. There is NO WAY a bank can reverse a CHAPS payment. Read this :


http://www.out-law.com/page-4731

[lazaroonie]

If it's a deposit for goods that aren't delivered - what's the legal position there?

Surely in that case the £5K would have to be returned?

Hopefully it's all sound Sofa - and he's genuine.

you cant mix up the two transactions, the delivery of the goods is completely seperate and non dependant on the contract that exists when you make a 3rd party payment via CHAPS.

[mex]

goooooooood evening I am calling from your bank. If you could answerrr a few security questions...............

What is your bank acct no , and youuuuuuur  sort code