I paid the wrong Bank Account, what can I do

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Forums › Finance and wealth management › I paid the wrong Bank Account, what can I do - advice wanted?

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447 posts

Ultimate Geek
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#1726528 26-Feb-2017 14:18

Yesterday I went into 2 ANZ Branches & attempted to deposit 1c into the account where the $125 went. Here I am in the 1st branch, and this is a branch not 'Newmarket 0193' I wasn't able to deposit the 10c manually, the counter person Lawrence told me 'the account is not active'.

From here, I went to Newmarket ANZ which is 0193 and, lo and behold:

So I wasn't able to do an over counter deposit outside of the 'Newmarket 0193' branch, which is my ANZ Branch, but I could at Newmarket 0193 ?

Someone has said to me, that if I do a deposit, from a Kiwi Bank Account, it will tell us the name of the account holder of ANZ Newmarket i.e. 06 0193 064xx54 000

Anyone got a Kiwibank account lol?!

harlansmart

447 posts

Ultimate Geek
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#1726556 26-Feb-2017 14:33

Update, a very helpful & generous GZ'er has done a 1c payment from a Kiwibank Account to the ANZ Newmarket 0193 Account where the $125 erroneously went to at my own ANZ Newmarket 0193 Branch.

When this payment is processed, the Account Holders Name could well apparently appear on the statement of the Kiwibank Account Holder.

Thank you very kindly Sir(s)

mattwnz

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#1726562 26-Feb-2017 15:07

Linuxluver:

mattwnz:

This is why I always copy and paste the account number into online banking. However some banks now prevent this which is a real pain. Many business have pre approved accounts, where you just enter teh name of the business, and it will autofill in the bank details. I think the banks need to come together to come up with a good solution, as the current system is poor. Especially as more and more people a now not using credit cards due to companies adding on surcharges.

I check and check and check the number again.

You can't check too many times. No such thing. Especially for funds transfers related to property transactions. There is no such thing as "a simple mistake". That's refusing to accept responsibility and the consequences....and a willingness to make it everyone else's problem.

Just don't screw it up.

If you're tired....get some sleep and do it when you're not tired (or drunk...or whatever). If you're typically prone to error due to some behavioral flaw or brain injury....then get someone else to do it for you.

Clearly, there is no such thing as a 'simple mistake' in this case. It gets very complicated.

Am I grumpy? A little. I have long since got tired of people who screw up and then try to make it everyone else's problem. So. Over. That.

Copying and pasting the number in from an email into online banking though should overcome that sort of problem. I do this and have never had any issue. The issue comes when making manual deposits at a bank, where you have to manually write down the number, as sometimes they can be misinterpreted by the person entering the numbers. They can also sometimes key in the wrong number. So the teller should also always check that the account name matches the number. If you are a business, it also pays to get your bank account preapproved by all the banks, so all the biller payer needs to do is enter in your company name, rather than typing in an account number,.

Banks do also make errors when doing deposits, and I learnt how much of a hassle it is when they do make errors. And no they don't compensate you for the inconvenience or delay in processing, even though if it was the other way around you have to pay them to trace and resolve it.

JayADee

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#1726614 26-Feb-2017 17:26

This is reading like a detective novel. Hoping it ends well!

Aredwood

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#1726693 26-Feb-2017 22:16

Since it is a business account. Have you tried googling the account number? Just in case it is listed on a payment instructions web page that will tell you what company owns that account.

nate

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#1726762 27-Feb-2017 00:36

Whoever's account this is, they will be scratching their heads at these weird amounts.

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Rickles

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#1727302 27-Feb-2017 17:55

I often pay my mothers bills from here ... she is in Australia with that 'bank' that is to the 'west' of us

Their system is pretty good because I first have to enter all the payee's details, such as name, account numbers, BSB codes (Bank/State/Branch) and they send me a TXT asking to confirm (by number code) that it is correct. I then have to enter the amount being paid and again another TXT is received and requires a code to be entered to effect the payment.

This way I get to see if the correct business and/or account details (numbers and names etc) are as expected before any money is transacted.

mattwnz

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#1727303 27-Feb-2017 17:59

nate:

Whoever's account this is, they will be scratching their heads at these weird amounts.

The other thing is that they are probably incurring bank fees for those manual deposits, which they may not be too happy about. I have a ANZ business account and I recall that the bank does cahrge for manual deposits made of the counter. As does westpac for some accounts.

Batman

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#1727347 27-Feb-2017 19:48

harlansmart:

Update, a very helpful & generous GZ'er has done a 1c payment from a Kiwibank Account to the ANZ Newmarket 0193 Account where the $125 erroneously went to at my own ANZ Newmarket 0193 Branch.

When this payment is processed, the Account Holders Name could well apparently appear on the statement of the Kiwibank Account Holder.

Thank you very kindly Sir(s)

Wow seriously, I'd love to know of the outcome of this unorthodox method!

harlansmart

447 posts

Ultimate Geek
+1 received by user: 59

#1727943 28-Feb-2017 21:17

THANK YOU GZ'rs, for your participation, we have a result, hopefully, the overwhelming feeling here, and support, means in future it will be easier, the system, is biased & against the little people, from every angle:

Dratsab

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#1727964 28-Feb-2017 21:32

Persistence paid off - awesome work!

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lNomNoml

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#1727988 28-Feb-2017 21:52

michaelmurfy:

Heya - First off under full disclosure yes I work for a bank.

BNZ are correct. You're needing to either submit a direct credit recovery or hope that the account that you've submitted the money to is not active. Under the privacy act you're able to phone up ANZ to just confirm if the account you've sent the money to is an active account (they can't provide any other details due to the privacy act) which should give you an idea.

If you've paid to a non-active ANZ account the money will be reversed in normally 2-3 business days. If the money has gone into an active ANZ account then I am sorry to say it is really "tough luck" as ANZ or any other bank won't be able to get it back for you without a direct credit recovery (and this costs $100) - this goes for paying into any account with any bank.

That's pretty shocking to say the least.

PaulBags

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Ultimate Geek
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#1727999 28-Feb-2017 22:20

I thought you were trying to contact the business directly, but this looks like the bank sorted it? So did they charge a fee in the end?

michaelmurfy

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#1728024 28-Feb-2017 23:55

PaulBags: I thought you were trying to contact the business directly, but this looks like the bank sorted it? So did they charge a fee in the end?

This looks to be a direct credit recovery to me... There is strict guidelines to follow in the world of banking when it comes to this sort of thing and a very specific team who handles it - I'll tell you now if this was a regular staff member who phoned up the company it can be grounds for dismissal due to serious misconduct. The processes are there to protect against privacy, fraud and many other regulatory requirements as outlined by the reserve bank.

So @lNomNoml it isn't shocking, it is to protect customers from things I can't specifically talk about however customers will never see it this way. There is a reason for everything even if it doesn't make logical sense.

Anyway good to see a direct credit recovery resolved it in the end.

Michael Murphy | https://murfy.nz
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mattwnz

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#1728030 1-Mar-2017 00:28

I had this happen before when someone paid a largish amount incorrectly into my account before I noticed it. A bank manager for my bank contacted me to agree for it to be deducted back out. I presume the person who made the error in that case paid the fee to do this.

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