Sending money to an account that is closed.

D

dublinhead

Registered User
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I sent money using banking 365 to another bank account I have that is closed by mistake. Will the money just come back into my banking 365 account or will I have to chase it up with the bank I sent it to? I sent it 4 days ago
 
The money might sit in the receiving bank and lodged to some sort of sundry house account or it could be returned "cannot apply".
 
The banks have a sum of money they cannot apply to a customer account. Unless you, as the transaction initiator, do something they will do precisely nothing.

Contact your bank first and tell them what the problem is. Get a full transaction reference from them and instruct them to issue a reversal. The other bank may not engage with you as you are not the account-holder.
 
The receiving bank will probably return the money to the bank that sent it, who will return it to your account. Hopefully it doesn't go missing along the way because banks are very hard to deal with at times.
In the place I work the efts we send to an incorrect account are usually returned immediately, otherwise it lies in some suspense account and will appear back in our account within a month
 
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