Bank Deposit question?

[olesilva]

Hi There,

Was just wondering if someone knows, what happens if a buyer for what ever reason while doing a bank deposit fills in the incorrect information.

Because while I was selling, I received a messgae from a buyer, saying that I had supplied the wrong bank details. Eventually it turned out that I had actually provided the right details, the buyer must of filled in the details incorrectly.

So if you fill in the details incorrectly, do you receive a message saying that it is incorrect? Or does they money go to no mans land?

Thanks

[the-kazbar]

if the details don't match a real account the money will be returned to the payee after a couple of days

[upworx]

Usually wrong details entered in to a bank transfer mean the payment will bounce back to senders account and a small fee is often charged (depending on the buyers bank)  You just need to resend it with the correct details.

I have noticed of late there is a warning up on internet banking sites that entering wrong details may mean your money is not recoverable.  Possibly if you accidentally send it to a genuine account, just not the one you were meant to put it into.

[*sparklz*]

I sent over $100 to an incorrect account 3 years ago and it was a genuine account and the after sending 3 letters to the account holder from the bank asking them to return it, they never did so I lost my money.

So depending if there is an account with the details they entered will depend if it is returned or lost.

[***super_nova***]

If you send money to a real account it can be very difficult to retrieve.  It is a big problem; there are solicitor firms that specialize in wrongly deposited fund retrieval!

I know somebody who few years got couple of thousand dollars in their account from unknown person.  They immediately reported it to their bank, and contacted the bank again several times since, but the money is still in their account.  Although, they were told they are not allowed to use it as it is not theirs.  🙂  I suppose, after some time if it is not reclaimed, they will be able to keep it.

That is one reason why I hate DD, as a seller as well as buyer. 

[olesilva]

Good to know. Cheers