New payment mistake rules adopted

People who accidentally send money to the wrong account are to get more help to claw their payments back under new rules being adopted by banks and building societies next month.

The new voluntary code, which is being incorporated by Lloyds Banking Group, HSBC, Nationwide Building Society, Barclays, Santander, the Co-operative Bank and NatWest among others, will mean that as soon as someone tells their bank they have made a mistake with a payment, they will act within two working days.