Spelling Mistake in ACH Transfer Payee Name

Discussion in 'General Marketing' started by BlackIrish, Oct 1, 2010.

0
  1. #1
    Hello,

    There an ACH transfer that's supposed to send some money to my bank account. I only recently found that that the Payee name on the check has a spelling mistake on it (it's missing a letter). Would that be a problem (meaning the transaction will get denied), or will the transfer go through?
     
    BlackIrish, Oct 1, 2010 IP
  2. hav0c

    hav0c Notable Member

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    #2
    Yes. A misspelling of a name can delay a transfer until it is corrected.
     
    hav0c, Oct 1, 2010 IP
  3. BlackIrish

    BlackIrish Active Member

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    #3
    Cool, at least it's going to get cleared and not blocked. Do I need to contact the bank, or are they going to do the task by themselves?
     
    BlackIrish, Oct 1, 2010 IP
  4. hav0c

    hav0c Notable Member

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    #4
    You may have to contact the sending party to fix the error. I'm not 100% positive if the bank will do the correction but it would also be a good idea to contact the bank also in case they have the ability.
     
    hav0c, Oct 1, 2010 IP