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Hi everyone!

New business account holder here hoping to get advice!

 

I set up a monthly standing order last year and the money left my account in Nov and Dec of 2015.

From Jan 2016 until now I've been paying this particular expense via chip and pin.

 

 

Honestly completely forgot about the standing order and the Bank never attempted to take out the funds strangely enough.

 

 

Today I discover that a standing order of £700 was taken out of the account on Friday for that particular expense, which caught me by surprise.

 

 

Called the vendor to ask for a refund (as I've already paid for the month) and they say it's not reflecting in their system.

To cut the long story short, this vendor has changed their account number without informing me and now my money is in a holding account.

 

Bank has told me to call back in 2 days to get a chaser pin to pass on to the company

and the company will then pass this to their Finance team?

This can take up to 21 business days I was told.

 

My question is:

Am I wrong in requesting for this payment to be recalled Asap?

Everyone has been so nonchalant about this.

No accountability what so ever!

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Hi Ekale100 and Welcome To CAG

 

I always understood standing orders values cannot be changed ...except by the account holder ?

 

Essentially, a standing order is an instruction to your bank, whereas a direct debit gives permission to a company to take money from you. You are the only person who can change the date or payment amount on your standing order. This is the main difference to a direct debit, where these details can be changed by the person or organisation you're paying

 

Regards

 

Andy


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