What happens when someone tries to pay your wages into a bank account which is closed?
I closed my bank account about a month ago. I just got my payslip from the agency I work for and it is dated that they ‘paid in’ my wages to the closed account on the 22nd. What would happen? Would the bank send me a cheque or try and contact me to tell me?
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May 25th, 2010 at 2:36 am
Bank should notice the agency and cancel the direct-deposit .
May 25th, 2010 at 2:52 am
Not sure how things work in the UK, but in the US, it automatically reopens the bank account. The bank usually just sends a routine monthly statement showing the transaction.
May 25th, 2010 at 2:52 am
The check must have bounced back to company who drew it up.
May 25th, 2010 at 2:59 am
it will be returned to your employer or it will be held in a holding account at your old bank
May 25th, 2010 at 3:35 am
It gets sent back to them
May 25th, 2010 at 4:14 am
It’s very likely your employer transfers payments via BACS system to your bank; any incorrect or closed accounts do not accept money and it is credited back to the employers account; Talk to the accountants section at your employer, the money should be sat in their account.
May 25th, 2010 at 4:22 am
If paid by BACS the bank credit the paying company after 10 days. This payment may be by cheque.
The other option is that the money is in a holding account with your bank.
Contact the bank and the company you work for and you should get your answer.
November 13th, 2011 at 5:16 am
Could hardly be scribed any better! Reading this article reminds me of my ex room mate! He often kept chating about this! I may address this article to him. Very certain he will have a wonderful read through! Many thanks for revealing.