Money transfers - Transfer made to wrong bank account

How does Resolver work?

Explains your rights to you

You'll find no legal jargon in our simple, comprehensive consumer rights sections. Our guidance is tailored specifically for every type of issue.

Helps you prepare your emails

We provide a wide range of flexible email templates for you to adapt to your needs – just slot in the specific details for your case, and in a few short clicks your issue will be ready to go.

Creates a case file for you

Your case file is a secure online location for all important documents regarding your issue. You can upload photos, tickets, copies of receipts or external emails from before you raised your issue with Resolver.

Lets you record all your communications

One of the most important aspects of a complicated issue is keeping a record of all your correspondence regarding the complaint – Resolver does this for you automatically.

Lets you know when to escalate your complaint

If you’re not satisfied with the initial response from the organisation you have an issue with, our escalation process will let you know when you can raise your complaint to the next level of seniority and, ultimately to an ombudsman or regulator, where appropriate.

If your transfer has been made to the wrong bank account, get in contact with the organisation making the transfer as soon as possible. It is possible that the transfer has yet to be processed, and the organisation may be able to cancel it.

If the transfer has already been processed, you should double-check that the mistake is not the result of an error on your part. In the event that you have made a mistake, the organisation making the transfer is not automatically responsible for reversing the transaction since there is no way for them to determine your intentions regarding the transfer. If, however, the mistake has come as the result of an error made by the organisation arranging the transfer, they are responsible for correcting it.

This may, however, take some time. While the person who incorrectly received your money isn’t allowed to keep it, their bank can’t automatically take money from their account if the recipient contests your claim that it was sent in error. In addition, the bank can’t withdraw the money if it would put the recipient into their overdraft (or if they’ve already spent it). 

If this is the case, you will have to take the recipient to court to get your money back.

You should know
  • Money transfers are covered by the Consumer Rights Act
  • Complaints about money transfers can be escalated to the Financial Ombudsman
  • All money transfer firms are regulated by the Financial Conduct Authority (FCA)
  • Always be wary of firms and individuals asking for payment via money transfer – many frauds and scams run using money transfers

We have 4,967 pages of rights advice for you covering 7,420 companies and organisations across 17 public & private sectors. Feel free to browse companies for this specific issue - they're all listed below - but the quickest way to find the best rights for you is by using our unique Rights Finder to access our extensive database of advice.

Start by telling us the name of the company or organisation you have an issue with.

Who do you have an issue with?

Raise it for free via Resolver