Bounced bank payment

chases0102

Hi,

Just wondering if someone on here could help me. 

I lodged money into my partner's closed Ulster Bank account for rent purposes. Having called into both Bank of Ireland and Ulster Bank, I'm still not quite sure what will happen with the amount lodged. 

Ulster Bank have told me that if the bank account is closed, that the money will bounce back into my Bank of Ireland account, but couldn't give me a timeframe. Can you advise on this?

Thanks.

Ally Dick

Money will end up rejected in Ulster bank and they will send it back to the originator bank. You'll have it in 3 working days I recon

Bank of Ireland: Elaine

Hi Chases0102.

Thanks for getting in touch.

What Ally Dick said is correct. When a payment is sent to a closed account, the receiving bank will return it to the originating bank within 3 to 5 working days.
If you don't see the payment returning within this time frame, please contact your account holding branch and a representative will be happy to put a trace on it for you.

Please see here for your branch contact details, should you need them.

We hope this clarifies things for you.

Thanks
Elaine

chases0102

Thanks for your help.