Real-life MMD: Whose glitch is it anyway?

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  • tallgirld
    tallgirld Posts: 484
    First Anniversary
    Forumite
    1) The money is NOT rightfully his
    2) I wouldn't ring the foreign exchange (let your friend do that)
    3) If he chooses to keep it he should go halves
    4) If he chooses to keep it and NOT go halves he's a tight !!!
    5) They may catch up with him at some stage and claim it back anyway!!!
  • TheKingsHead
    TheKingsHead Posts: 1 Newbie
    edited 17 October 2012 at 7:27PM
    The money does not belong to you or your friend, if either of you keep it or any part of it, then in my book it's no different to stealing. Your friend should return it to the Bank straightaway. At the end of the day it's what successful trade is all about ie being honourable, trustworthy and doing the right thing. If you had accidently overpaid the Bank, you would expect them to return your money on their own initiative, and not wait for you to find out they had still got it.
  • It's your own fault you didn't get the foreign exchange yourself! . . maybe they shouldn't have told you about it, then you would never have know. Either way just see it as a lesson learnt - exchange your money yourself or just be happy you got your euros!
  • Ambro
    Ambro Posts: 15 Forumite
    Wow, I really can't believe the responses in this thread. In order to answer the actual question (what should the OP do): Nothing

    Here is the situation:
    You purchased £200 worth of Euro's from your friend at cost price (no admin fee etc)
    They provided the £200 worth of Euro's
    Your transaction is finished, you have what you paid for at the price you agreed on beneficial terms to yourself.

    My opinion: Be glad for what you got and don't go causing trouble behind your friends back when they were doing you a favour. You seem like a greedy individual even asking the question.

    As to the situation regarding the friend (not actually asked):
    Your friend purchased £200 worth of Euros from the BDC
    The BDC provided the agreed sum of Euros but have not as yet demanded the cash (apparently in error)
    Your friend now has a moral (and possibly legal) obligation to make the BDC aware of the error and pay the funds

    My opinion: Whilst I feel they should contact the BDC I would expect the majority of people to keep hush about the money and hope it is not reclaimed. Whilst I would be disappointed if someone did this I would neither be surprised or find it outrageous. Certainly not worthy of ending a friendship over, especially a friend who is willing to help you out with no strings attached when you need it.
  • ronangel
    ronangel Posts: 124 Forumite
    I would be telling the currency exchange as I couldn't relax and enjoy spending money that I hadn't paid for.
    Bet you would not if he offered to pay you half....:think:
    This is easy for you to say but what about people with very little money?
    anyway its not your problem its his they may ask him or take money when it shows up missing on their acounts, and it all depends if you want to keep him as a friend or have him help you again.
    The richard montgomery matter

  • You agreed and transferred money to your friend £200 in order to get you currency which he did. The fact the he has now found out that the exchange bureau did not or has not as yet taken the money out of his account is really not your problem. If he wishes to spend it that is entirely you to him but rest assured the Bureau will eventually catch up with him and the money will have to be repaid.

    I wouldnt ask him for any of it knowing that I can sleep at night being honest.
  • The money doesn't belong to either of you. Declare it and pay back to the bank.
    I would be telling the currency exchange as I couldn't relax and enjoy spending money that I hadn't paid for.
  • BNT
    BNT Posts: 2,788
    First Anniversary Combo Breaker
    Forumite
    Your friend is wrong: the money is not rightfully his. At a minimum you should make sure he understands that (some people might genuinely not realize it). How he handles it is up to him, but if you are a friend I'd hope you would advise him to take the matter to the bureau.

    As the money is not his to give, I'm not sure why you are asking him to give it to you.
  • 50 - 50 would be a good solution
  • It would be entirely dishonest if you were to keep the money, and worse for your friend to do so, and profit from what sounds like a genuine administrative mistake. (Yes, the dealing rooms make a good "turn" on currency deals, but that isn't the point here, is it?).

    Contact the firm that supplied the currency, and tell them what's happened. They'll follow it up and, you never know, your friend's bank account might suddenly become overdrawn without warning and incur bank charges. Serve him/her right.
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