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?
Personal Finance - 7 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Bank should notice the agency and cancel the direct-deposit .
Answer 2 :
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.
Answer 3 :
The check must have bounced back to company who drew it up.
Answer 4 :
it will be returned to your employer or it will be held in a holding account at your old bank
Answer 5 :
It gets sent back to them
Answer 6 :
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.
Answer 7 :
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.
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