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Account transferred to another bank
RETAccount
Community Reference: This is an unofficial resource compiled from public banking documentation. Severity and behavior may vary by bank and payment provider. View sources.
The payment was returned because the account has been transferred to another financial institution. The recipient may have switched banks.
Common Causes
- •Account holder switched banks
- •Current Account Switch Service used
- •Bank merger or acquisition
- •Account migrated to new provider
What to Tell the Customer
“Your payment was returned because the account has moved to another bank. Please get the recipient's new account details.”
How to Fix
- 1Contact recipient for new details
- 2Check if redirect should have applied
- 3Update saved payee information
- 4Resend to the new account