Lodged funds to wrong account in error.

youtube!

I just would like to know if anyone can help with advice in the following situation.

Last week I received an amount to my Paypal account for a sale on ebay.

Even though I have often used Paypal for purchases,this was the first time I used it for receiving funds.

When the funds cleared I naturally went to transfer them to my own bank account,and this is the problem,read on.

Dont ask me how I managed to do this but I entered the details of a loan account long since finished and paid off in full.

I went looking for my own bank details and picked up an old customer receipt deposit slip which I had used to lodge money into the old loan account I once had.

When I realised this I contacted Paypal but they said the money was gone from their end,I then contacted the bank who received the money but couldnt really get a clear answer from them as the funds had not reached them yet.

My question is as I made a genuine error will their be any problem in trying to recover the money from them or will I end up jumping through hoops to get it?

Thanks.

chris85

youtube! wrote: »

I just would like to know if anyone can help with advice in the following situation.

Last week I received an amount to my Paypal account for a sale on ebay.

Even though I have often used Paypal for purchases,this was the first time I used it for receiving funds.

When the funds cleared I naturally went to transfer them to my own bank account,and this is the problem,read on.

Dont ask me how I managed to do this but I entered the details of a loan account long since finished and paid off in full.

I went looking for my own bank details and picked up an old customer receipt deposit slip which I had used to lodge money into the old loan account I once had.

When I realised this I contacted Paypal but they said the money was gone from their end,I then contacted the bank who received the money but couldnt really get a clear answer from them as the funds had not reached them yet.

My question is as I made a genuine error will their be any problem in trying to recover the money from them or will I end up jumping through hoops to get it?

Thanks.

Your bank will transfer it out on your request. They have no right to hold it. They will be as keen to get it out of the loan account as you are as having a positive balance on the loan account will put a flag up straight away as being strange.

youtube!

Thnank you for your reply Chris, can I just clarify to you that the account number I lodged into is actually the Banks own account, its not actually my loan account,its just that I used to lodge the funds to their account and put a reference number on it to set it off against my account if you understand.

chris85

youtube! wrote: »

Thnank you for your reply Chris, can I just clarify to you that the account number I lodged into is actually the Banks own account, its not actually my loan account,its just that I used to lodge the funds to their account and put a reference number on it to set it off against my account if you understand.

ok so its gone to a holding account for a large customer base. Contact the bank and tell them what happened. They will not want it sitting in the account as causes problems. They may want some proof the payment was made by you. They could charge an admin fee but generally they will just send it back to you.