Money credited to bank account in error ...

knk279

Hi,

We recieved our bank statement for our joint account today and we have had £490 paid into it in cash .... what do we do??

Thank you

frugallass

if you have a savings account connected to the bank account then transfer it over to there until you get a letter or phone call asking for it back

My daughter got £500+ paid into her account accidentally by Child Benefit - they'd been given the wrong account details apparently and it ended up in her account instead.

They were quick to write to me/her and ask for it back (though they didn't get it )

knk279

our savings aren't connected to the account :-( we do get an ok rate of interest on it ....

Should we contact the bank or just wait and see?

is there a time scale when we can keep it?

frugallass

I think there is a time limit - 6 months springs to mind but don't quote me on that

I was lucky as it was my daughters account and I told them she'd spent it - if they wanted it back they'd have to pursue it through her but she was 14 at the time and didn't have a job so how on earth would they get it back. They never got back in touch !

I once had money paid in from Tax Credits and it was over £1k, I shoved that in savings cos I knew I wasn't due any money and that it was a mistake.

If I were you I wouldn't rush out and spend it just yet.

knk279

no certainly won't spend it just yet!!

thank you though!

dunstonh

I think there is a time limit - 6 months springs to mind but don't quote me on that

Not with banking it doesnt.

frugallass

dunstonh wrote: »

Not with banking it doesnt.

I did say 'don't quote me on that' :rolleyes:

robpw2

Give it back .,, its not yours ....
touching any part of that money would be committing fraud

bigbloke45

C'mon, think about it. Whoever paid this in will see that it hasn't gone into their account and the bank will check and see where it went.

Also, if it were you who had paid the cash in and it had gone missing, wouldn't you be worried? Do you really want to put someone else through that grief when you can put things right quickly?

It is also illegal to keep the money as you know it isn't yours.

robpw2

frugallass wrote: »

I think there is a time limit - 6 months springs to mind but don't quote me on that

I was lucky as it was my daughters account and I told them she'd spent it - if they wanted it back they'd have to pursue it through her but she was 14 at the time and didn't have a job so how on earth would they get it back. They never got back in touch !

I once had money paid in from Tax Credits and it was over £1k, I shoved that in savings cos I knew I wasn't due any money and that it was a mistake.

If I were you I wouldn't rush out and spend it just yet.

is it ok to commit fraud in this country now ... why dont we all do it .

iviv

There was never anything wrong with it in monopoly