Yoco unable to recover funds mistakenly paid into the wrong merchant account

I am an active Yoco business customer, and on 4 September 2026 one of my customers made a payment using a Yoco payment link that I had accidentally copied incorrectly.

The error was one digit in the payment link. I accept responsibility for making that mistake.

However, my concern is what happened after I immediately reported the error to Yoco.

When I contacted Yoco, I was advised by a consultant that the payment was still pending and that the incorrect link was not associated with another merchant. I was further advised that the funds would therefore not be allocated and would automatically revert to the customer.

I re**** on that information.

I subsequently discovered that this was incorrect. Yoco later confirmed that the money had actually been settled into another Yoco merchant account with a similar business name.

This is the central issue that Yoco has still not adequately addressed.

Yoco has repeatedly told me that my customer should approach her bank to initiate a chargeback. However, my customer has already approached her bank and was advised that the payment could not simply be reversed and that they cannot go into someone's bank account and reverse payments.

What I am asking Yoco to explain is what Yoco itself has done to recover the funds.

Yoco has confirmed that it has the details of the merchant account into which my customer's money was settled. However, I have not been provided with clear answers to the following:

1. Has Yoco actually contacted the recipient merchant? If so, what was the outcome of that contact? 2. What recovery action is Yoco taking if the merchant does not voluntarily return the funds? 3. Yoco has the recipient merchant's banking information and identification records. What appropriate internal recovery, compliance or escalation measures have been taken using the information available to Yoco? 3. Has the recipient merchant's profile been reviewed or restricted in accordance with Yoco's internal policies, particularly given that the funds were incorrectly received? 4. What is the status of the recipient merchant's account and the recovery process? 5. Most importantly, why was I initially told that there was no merchant associated with the payment link and that the funds would automatically revert, when Yoco subsequently confirmed that the funds had been settled into another merchant account?

I am not claiming that I did not make an error. I made a one-digit error in the payment link. My complaint is that I reported that error promptly and then acted on information provided to me by Yoco, which turned out to be incorrect.

I find it extremely frustrating that the response has largely been to send my customer back to her bank, while the questions surrounding Yoco's own handling of the transaction remain unanswered.

I am not asking Yoco to disclose the other merchant's private information to me. I understand that there are privacy requirements. I am asking Yoco to explain what action it has taken and what recovery mechanisms it is pursuing, using the information that Yoco itself holds.

Yoco's Senior Complaints Manager has confirmed that the matter is being investigated and that Yoco is attempting to contact the other merchant. However, I still do not have clarity on the outcome of that contact or what happens next if the merchant does not cooperate. I am now left with the burden to refund the client for money I did not even receive and Yoco refuses to take any accountability where this is concern. By using Yoco, i thought I am using a secure platform for managing client transactions and this incident has unfortunately left me thinking as to how secure the payment portal is when money can just get lost and there is no means to recover it.

I believe this matter deserves a proper investigation that considers the entire sequence of events, including the information provided by Yoco's consultants when the incident was first reported, rather than simply attributing the matter to an incorrect payment link.