Transfer money to wrong account?

[ConR]

Sold something. Money was sent to me but I gave them the wrong account. Ooops!

Did give them the right BSB and account name though. Praying my bank will reject it or am I screwed?

Appreciate any insight!

[FJ Steve]

Contact bank ASAP. Provide all details of transaction

Pray.

[ConR]

Called. Not what I wanted to hear. The account I gave them is a valid account, meaning the money will go through. Now has to go through a whole dispute process to get it back!

[dylan8]

so your BSB number and account name, but wrong account number...?
surely it would just reject it as the numbers don't match...

[ConR]

yeah the BSB and account name I gave her were correct, but the account # I gave her was incorrect. But the account # is a valid account # with my bank. I called them and they said as long as the account # was valid it would go through. I find that wrong. I would hope it has to match with the BSB as well, but I don't think it does.

[bigfoot]

so your BSB number and account name, but wrong account number...?
surely it would just reject it as the numbers don't match...

the name iactually sn't used so as long as it's a valid bsb and a/c the transaction will go through

[Blitzen]

Just ring up the customer service line to the bank, explain what happened, cancel the transaction, then while you are on the phone, do a new translation supplying the correct details... Two birds with one stone, problem fixed, and done in about 7 minutes.

Yes, I have done what the OP did before, and this was the first thing I did.

[jasn78]

Im with bigfoot here as could you imagine the amount of different computations that would have to be covered for a valid account name, as jason smith would have to be the same as Jason Smith as the same as JASON SMITH. I completley understand your problem ktrianta as I have done it many a time but always been lucky enough to be a completley wrong number so it just bounces back in a week.

[ConR]

Yeah thanks for the feedback guys. Unfortunately in this instance it's a valid bsb/account so I'm stuffed. The person who sent the money has to lodge a dispute. They said they would but I haven't heard back from the all day.

[ConR]

And I can understand not validating the name. Although its not hard to do from a technical perspective ( I'm in IT). But a bank should verify easily that a bsb/account # is a valid combo, as they should line up.

---------- Post added 12-04-2012 at 10:29 AM ---------- Previous post was 11-04-2012 at 05:58 PM ----------

Update on this. By some miracle, it's been sorted out. Not sure if my bank has rejected the transfer, or whoever it was transferred to sent it back, but all is sorted, and the money has been sent to the correct account.

Thanks all!!