BACS Refund Process

[BolshieBastard]

There should be an error code return to the originator IIRC so the agency should know the wrong account number was used.

[Badger]

Thanks for the reply.

[LisaContractorUmbrella]

Hi Badger

The returned payment should be easy enough for the agency to recognise as it should carry the same reference as the original payment. It does take several days for incorrect payments to 'bounce back' - a BACs payment will usually be returned to the orginator account 3 days after having been received at the beneficiary bank

HTH

[Badger]

How does the BACS refund process work?

Here's the situation:

Agency tries to pay my first invoice though them but a nice person in accounts has transposed the numbers in my bank account details. My bank have told me that they can see the payment come in, try to credit an invalid account, and has been returned. The agency say they cannot see the money being returned. What reference numbers/ voucher ids etc would the agency bacs people have got to say it's been returned??

Thanks