Transferred money - mistake in sort code -Yes Im stupid

[psychocandy]

Transferred money from business account to personal account but got sort code wrong. Dont ask me how.

So payment never arrived (as expected). Spoke to bank and luckily, the sort code I entered is an invalid one so it should be bounced back. Also, checked using online checker and the sort code/acc no combo is invalid.

Bit worrying though if it had been a valid account no. I always thought the account name was checked too to make sure it matched (to stop stupid people like me)?

Seems a bit too easy for dull people to screw it up....

Lucky this time because it looks like I've just got to wait for the money to be bounced back..

[DaveB]

Transferred money from business account to personal account but got sort code wrong. Dont ask me how.

So payment never arrived (as expected). Spoke to bank and luckily, the sort code I entered is an invalid one so it should be bounced back. Also, checked using online checker and the sort code/acc no combo is invalid.

Bit worrying though if it had been a valid account no. I always thought the account name was checked too to make sure it matched (to stop stupid people like me)?

Seems a bit too easy for dull people to screw it up....

Lucky this time because it looks like I've just got to wait for the money to be bounced back..

The account name is checked against the account number, the number is checked against the sort code. Numbers and sort codes are unique so you will never get a situation where you have the same account number against two sort codes.

You would have to have got the account number *and* sort code wrong, and hit on a valid combination of the two for the money to go astray.

[northernladuk]

Are you actually asking a question here or just embarrassing yourself further on an internet forum?

[andyc2000]

You would have to have got the account number *and* sort code wrong, and hit on a valid combination of the two for the money to go astray.

That being said, I did once put the wrong account number on my invoice, but with the correct sort code and it didn't 'bounce'. Not sure where that ended up, consultancy in question paid me anyway and I left it to them to sort out...

[psychocandy]

Are you actually asking a question here or just embarrassing yourself further on an internet forum?

NLUK - I would like to point out this is posted on a professional forum and that I'd appreciate it if you could refrain from making personal comments.

[psychocandy]

The account name is checked against the account number, the number is checked against the sort code. Numbers and sort codes are unique so you will never get a situation where you have the same account number against two sort codes.

You would have to have got the account number *and* sort code wrong, and hit on a valid combination of the two for the money to go astray.

Now I didnt know that about account numbers and sort codes. Hmmm. 8 digit account number gives 99 million total. Are you sure there arent any duplicates in here? Thinking 50 off million people in the UK, multiple accounts etc. Wonder whos got 00000001 then? :-)

I always thought the name was checked too. That would make sense. But apparently most of the banks dont bother now...

[andyc2000]

Now I didnt know that about account numbers and sort codes. Hmmm. 8 digit account number gives 99 million total. Are you sure there arent any duplicates in here? Thinking 50 off million people in the UK, multiple accounts etc. Wonder whos got 00000001 then? :-)

I always thought the name was checked too. That would make sense. But apparently most of the banks dont bother now...

Account numbers aren't assigned randomly... I believe it's from an algorithm that uses the sort code and some detail from yourself plus a bit of randomness - anyway as a result different banks could not assign the same account number.

Isn't this a riveting thread...

[northernladuk]

NLUK - I would like to point out this is posted on a professional forum and that I'd appreciate it if you could refrain from making personal comments.

I could point the same out and suggest this went in General or on Mumsnet.

[malvolio]

Account numbers aren't assigned randomly... I believe it's from an algorithm that uses the sort code and some detail from yourself plus a bit of randomness - anyway as a result different banks could not assign the same account number.

Isn't this a riveting thread...

They also use Modulus-11 checks for the last digit.

No, it isn't...

[d000hg]

The account name is checked against the account number, the number is checked against the sort code. Numbers and sort codes are unique so you will never get a situation where you have the same account number against two sort codes.

You would have to have got the account number *and* sort code wrong, and hit on a valid combination of the two for the money to go astray.

Are you sure the same account number can never exist against multiple sort codes? I've got one account which has two sort codes, since the bank was taken over... now the old bank' sort-code still works but the new bank have their own sort code.
A special case admittedly...

I also worry about typing the wrong number, it would be so easy to do!