Bank error in my favour for a change

rebeccastorey · 19 April 2011 at 11:45PM

Hi,

I have joined the forum specifically to get some advice on this one. My bank made an error on the 27th March depositing 470.00 into my account. I initially thought this was my money, however when checking my online statement i realised very quickly that it was a payment from an unknown individual and quite obviousley in error.

I called the bank and explained this (unbelievably the girl on the end of the phone asked me if i had spoken to the person about the payment- after i told her i dont know who this person is!). After sitting on hold for 20 minutes the call handler asked me if i was expecting any rent payments- of course im not; before finally reaching the conclusion that the money wasnt mine (well done call handler).

I was told that i had to write a letter to the bank explaining that the money wasnt mine and to remove it from my account. i explained to the call handler that i have notified the bank by telephone (i.e. now)- during a recorded conversation, having passed through security questions galore and as such a letter will not be sent as it is their error- and to be honest just purely out of principle. the call handler told me that the bank cannot legally remove these funds without a letter (i found this most amusing having had a vast number of bank charges in the past which i certainly did not express my will for the bank to do so in writing)

I have not spent the money, its in my account still. i admit however that i would very much like to spend it.

can i have your collective opinions on this one please- i have told the bank, they havent taken it back- what do i do? i havent written a letter, out of principle i dont see why i should.

p.s. i didnt even get a thank you for my honesty, i was actually spoken to in a manner which made me feel like im the one causing the problem.

JuicyJesus · 19 April 2011 at 11:52PM

Don't spend the money, just leave it in your account. Eventually someone will clock on that it went walkies and ask for it back. Spend it and you'll legally owe it. That's really the only advice anyone can give.

If the bank want you to write a letter they are well within their rights to ask you to do so. At least then if they have a signed document there can be no dispute.

rebeccastorey · 19 April 2011 at 11:58PM

Thanks, i know you are right- spending it would only be a short term gain. times are hard so i am looking for any excuse really. out of bone-headed stubbornness i am not writing them a letter, they can write to me to ask for it back. until then it will sit tight in my e-savings account- acruing interest (8 p a month ha ha!)

Paul_Herring · 20 April 2011 at 12:25AM

a letter will not be sent as it is [the bank's] error

Or not.

It might be another customer's error. Witness all the threads on here where people have mis-keyed account numbers/sort codes and are desparate to get their money back to where it came from/should have gone.

Now put yourself in that person's position.

Dr_Cuckoo3 · 20 April 2011 at 1:31AM

I wonder whether anybody receives erroneous bank credits regularly and keeps the funds :idea:

If so , they don't seem to post on forums about it

nextyeartina · 20 April 2011 at 7:38AM

it happened to me today... :j. not a lot & thinks it's tax credits. not showing as that yet. will put in isa as wasn't expecting it. what happens if op writes to the bank & the money is still there in 6 months time. does the money become the ops?? just out of curiosity

t, x

opinions4u · 20 April 2011 at 7:47AM

Spend it and you're guilty of theft.

i found this most amusing having had a vast number of bank charges in the past which i certainly did not express my will for the bank to do so in writing

Are you saying you didn't agree to the terms and condtions of the account, or you were in some way forced to against your will?

a letter will not be sent as it is their error

It's almost certainly the error of another customer, possibly with a completely different bank.

i havent written a letter, out of principle i dont see why i should.

It's an unusual set of circumstances (although becoming suspiciously common with new posters on this forum) that a call centre probably doesn't have a process to deal with. Getting something in writing from you is a reasonable request.

out of bone-headed stubbornness i am not writing them a letter, they can write to me to ask for it back. until then it will sit tight in my e-savings account- acruing interest

In fact by moving the funds (assuming you have done) you leave yourself wide open to a theft charge.

birkee · 20 April 2011 at 7:49AM

When I went to open this years ISA, they looked at all my accounts during the process.
Seems I have £5k in an account I know nothing about.
I did say it was an account I knew nothing about, and I bet it's gone by now though.

One thing about 'RULES', they ignore them when it suits!

themull1 · 20 April 2011 at 8:00AM

I wouldn't write a letter either. I think a phone call is enough for them to sort it out. See how long it takes for them to contact you. We could have a sweep....:rotfl:

pmduk · 20 April 2011 at 9:30AM

If you move the money to an interest bearing account I don't see how the charge of theft could be levied. It'd be best if the money remained within the same bank however.

poorgirl-54 · 20 April 2011 at 11:18AM

last year with halifax c/a i used it for the £5 reward and transfer in £1k and out and never have any money in it and was suprised to see when i had £600 or so come in, there was no name just a serious of ref numbers against it and then told halifax staff i think this is a mistake, but they cudnt trace who put in the money, i left the money alone for months for it to be corrected and it never was, and then i gave in and used it to pay for loan repayment. I know i shouldnt have but thats the world, you win some, you loose sum.

Bank error in my favour for a change

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