Bank Transfer to Tesla refused by HSBC [UK}

[Abueloeddie]

I should take delivery of a Model 3 on Friday. 17th Feb. BUT, there’re is final payment to be made from my UK Bank via a Bank Transfer to Tesla Motors Ltd. The final invoice bears an International Bank Code which mixes the Sort Code with the Account number ( ie Digits and Text) but my HSBC application will not accept the application using the Digits only of Sort Code and Account number. Trying this with only digits gets the repeated response, “Tesla Bank details NOT valid” or ‘Details not recognised’. Then after several screens of anti fraud warnings, HSBC closes down and refuses to continue

I have seen and inspected the car yesterday, checked it over but did not road test it. The young Gent I/c Delivery gave me the sort code and account number ( exactly the same as I’d tried but failed to make the transaction and Duly failed once more). I’ve E Mailed the Trade in Finance department which gave me the delivery date, but no answer today

Advice please if anyone has actually got this Method of payment to work? (. I would prefer to use my Apple Pay Smartphone but “ They” are not to be moved!

 

[launchd]

Can you not use a cashier's check (I think it is called a banker's draft in the UK) and hand it over to Tesla at the time of pickup?

 

[liamth91]

Definitely contact Tesla. Sounds like you may have an IBAN number which is used for payments originating outside of the UK banking network. Although the sort code and account number will be mixed in there, there’s no telling if it’s actually a GBP account and not a foreign currency account. That would mean you can’t pay to that account in GBP.

 

[DaSwede]

Yes, good advice to contact Tesla to get it sorted. I remember a few years back when I paid my final 49k GBP for final payment and the payment got missing for a day. Stressful as it could be, Tesla could find the payment after contacting them. I'm sure they will sort it out when you call them and let them know what the issue is!

 

[connectjunkie]

Possibly this is an issue with Confirmation of Payee anti fraud checks (where your bank is able to check the name on the account is what you’ve supplied). For some reason Tesla’s UK bank doesn’t support this - this is a known issue: Cash Buyer - My bank doesn't recognise Tesla account

 

[qwickshot]

Are you using the app?

I think the limit is £10k per transaction, the website is £20k per transaction.

 

[WannabeOwner]

I think the limit is £10k per transaction, the website is £20k per transaction.

Isn't that a bank-specific limitation?

I have no problem (with my bank) paying large sums in one go ...

 

[Dilly]

I paid via HSBC bank transfer. Limit was and still is £25K per day
Unhelpfully the transfer a/c shows as Tesla Motors 4010A0000058940 on my statement

 

[davyjohns]

On your tesla account the final invoice has the sort code and account number at the bottom of the invoice.
Sort code 18-50-08
Account No. 17559860
There is no Text that is the IBAN no. not needed

Include your RN number on the transfer so they know who has paid. Made my final payment in December from HSBC no problem.
If you try to use HSBC company recognition box it cant find Tesla.

 

[davyjohns]

You can do a test transfer of ~£100 then check that it appears on your Tesla account to ensure that it is going to the correct place (can take time).

 

[TheRealWatto]

I had no issues paying with HSBC UK last year, as davyjohns said above used sort and account no. The app whinged it couldn't confirm the recipient details but I confirmed and payments went through fine. As above did a test payment of £100 then a few more to reach the total.

 

[Plagued]

I wouldn't bother calling Tesla, Although banking apps are much better now at detecting details, for large transactions like this I'd call the bank and ask them to make the transaction. They have all the data of the recipient and can ensure the funds are going to the right person and will see any flags on either your or their account. They will also know how to deal with an IBAN or account details. If there is something wrong they will also be able to tell you exactly what is wrong and what is needed to fix it, rather than a generic app transaction message. Took me 15 mins to do mine with Lloyds, which is 10 minutes longer than via the app but worth it in my opinion.

 

[liamth91]

I wouldn't bother calling Tesla, Although banking apps are much better now at detecting details, for large transactions like this I'd call the bank and ask them to make the transaction. They have all the data of the recipient and can ensure the funds are going to the right person and will see any flags on either your or their account. They will also know how to deal with an IBAN or account details. If there is something wrong they will also be able to tell you exactly what is wrong and what is needed to fix it, rather than a generic app transaction message. Took me 15 mins to do mine with Lloyds, which is 10 minutes longer than via the app but worth it in my opinion.

Speaking from experience from working in the software side of banking for many years, this isn’t correct.

Banks don’t have recipient details, it’s up to the account holder to provide the beneficiary details. Even if the destination account is with the same bank, they can’t just go and check details.

They also certainly don’t have access to “flags” to wherever money is being sent. They will for your own account but even if the destination account is with the same bank, again, they can’t just go and check those details.

 

[hsfrank]

no problem here in the US. I do understand there are differences in the UK. Why not just do a wire transfer? Or a cashiers check?

 

[qwickshot]

Isn't that a bank-specific limitation?

I have no problem (with my bank) paying large sums in one go ...

It’s a HSBC specific limit which I found out the hard way…

I should add it’s not per transaction, it’s a daily limit to per account you are trying to pay.

 

[ElectricPolice]

Exactly as #9 and #10 says. Set up as though paying somebody and not a business.

I was more cautious and paid a fiver. Payment appeared in my Tesla account shortly after. Time will vary due to time of day or day of week when payment made but it’ll appear. Once you’ve seen on your account pay the remainder. There’s nothing to lose (except a fiver) which you won’t if you follow the above.

It’s all good. This Citibank debacle has been about for a long time and many of us have been through the stresses, me included, sat on phone to a First Direct representative who couldn’t do anything. Finally did the simple payment option and bingo!

 

[connectjunkie]

Speaking from experience from working in the software side of banking for many years, this isn’t correct.

Banks don’t have recipient details, it’s up to the account holder to provide the beneficiary details. Even if the destination account is with the same bank, they can’t just go and check details.

They also certainly don’t have access to “flags” to wherever money is being sent. They will for your own account but even if the destination account is with the same bank, again, they can’t just go and check those details.

That’s not correct anymore. Not all the banks support it (the bank I work at does) but it’s been around since 2020: Confirmation of Payee

 

[liamth91]

That’s not correct anymore. Not all the banks support it (the bank I work at does) but it’s been around since 2020: Confirmation of Payee

No, confirmation of payee is different to the banks holding beneficiary details.

For confirmation of payee, your bank will send an API call to the other bank with the details you provide to them. The other bank will give a response to that saying match, close match, no match etc.

You still can’t, and will never, be able to just call your bank and say “I want to pay Tesla” and they have all the account details.

 

[connectjunkie]

No, confirmation of payee is different to the banks holding beneficiary details.

For confirmation of payee, your bank will send an API call to the other bank with the details you provide to them. The other bank will give a response to that saying match, close match, no match etc.

You still can’t, and will never, be able to just call your bank and say “I want to pay Tesla” and they have all the account details.

Ah, I had misread your response.

That is something that many US banks, including HSBC US, offer so I wonder if that responder was from outside of the UK

 

[Plagued]

I'm not referring to saying just pay tesla. You have to provide the bank data, but if your online system cannot decipher the IBAN and no disrespect toliamth91 when I say loads of banking software is dreadful, but getting better. If you provide a human with an IBAN and the system refuses to take one they can just pull the details out of the IBAN (which anyone could do). I'm just saying if the "Computer says no" try talking to a person, who will likely be using the same computer system, but will have a better understanding of these systems and what the issue is.