Would you keep it?

Barcode

I'd take it, stash it in a high-interest account, and wait for the bank to reclaim it. As I understand it, the banks can't touch the interest (maybe I'm wrong).

A few years ago, a cheque appeared through my door for close to three thousand pounds from a certain organization. Thinking I would be in a lot of trouble were I to cash it (and didn't think the cheque would actually be honoured) I wrote several (recorded) letters stating that I had never applied for this particular thing, I called the department in question every other day for several weeks and it reached the point where they thought *I* was the strange one telling me that there had been no mistake.

I cashed it, the cheque was honoured. I then left it for a year thinking that somebody somewhere would realise their error.

After the time was up, I used the money to go travelling across America for three months.

I'd do the same again - I made more than reasonable efforts to try and give the money back, they kept saying no, so I don't feel guilty.

jfdi

25+ years ago this DID happen to me!

I religiously checked my statements off every month, then I let the ball drop for about a year (New Love, I expect - I can't remember!), and although I didn't check the statements I DID keep exact tally in my cheque book (long before debit cards, cash back etc) of all my income & outgoings.

When I finally got round to looking at the statements I was £350 up!

I went into my branch, with all the Statements, all my cheque stubs & wage slips etc, and the clerk & I spent about 2 hrs trying to work out where it had come from. Eventually she said 'Keep it! It's definitely not our error & I can't work out where it's from.' So I did! Especially as that was about 2 months salary for me, back then!

whether they'd say that now who knows! But I'd love the chance to find out!!!!

Judith_Proctor

My son found over £1000 unexpectedly in his account.

He did the honourable thing and told Nat West. They moved the money into a holding account and led him to understand that it would be his if it was not claimed.

Now, even though after 8 months they have been unable to trace the man who paid it in by cash, they claim that my son has forfeited his right to the cash.

If he'd thought they'd rip him off like that, he would NEVER have let them move the cash out of his account.

Is there anything he can do? While his claim to the cash isn't good, it's certain that the bank has no right to it. (While there's an outside chance my son has a mystery benefactor, banks certainly don't)

He's a student, he could use that money (and would be willing to repay it if the original owner turned up).

Savvy_Sue

beccolina wrote:

However, they cannot simply reverse any booking on any account without permission and if the bank does not contact you there is nothing wrong with putting the money into a savings account and only giving it back when asked and without the interest. But you should make sure it is an account you can access at any time when they ask for it back.

Oh how I WISH I'd known that bit! End of November one small and one large payment landed in one of my accounts which I don't use very much, total over £1400. I phoned the bank: they told me who the money was from, I said I didn't think it was mine, they promised to phone back, they didn't. Mid December I phoned again: they promised to phone back, they didn't. End of December another small payment went in, from the same people. I phoned the bank AGAIN, and finally today they have phoned back and spoken to my DH - fortunately it's a joint account. They say they'll take the money back now and not let in any more from that source.

But I didn't dare move it out to get more interest because there was no way I could cover that amount, and they charge viciously if you go overdrawn. If I'd known that they couldn't just take it back without telling me first then I would have shifted it and made them work harder for it!

What riles me is that I have had to phone them 3 times to get a response! Meanwhile someone's probably been phoning them desperately trying to get this money!

Next time I'll know better ...

Quincifer

Ohmygod this happened to me before christmas but on my credit card. I had made a payment onto it of just over £100 and £700 ended up going on the card instead. I left it a couple of weeks but it didnt come off so being a stupid fool i spent the money. A month later they took the money back without telling me, taking me over my credit limit and unable to pay. Ive now had to barter with them and im on a payment plan to pay £125 a month until its gone.
My advice would be NEVER EVER do anything with the money and tell them straight away!!!
x

*Louise*

Why does this type of thing never happen to me?

I would leave the money until they asked for it back, I wouldn't spend it.

speedtwin

What is to stop you putting it in a high interest account and when they want it back tell them you have spent it but offer to pay it back at a £1 aweek

Sarahjovi

Years ago my husband received a paying in book and a statement for an account he hadn't opened, but in his name and address. It had £600 in it!

We contacted the bank straight away, who confirm the money wasn't his and took it back, however the account remained opened and has had interest added to it over the years this is now £20. He has now had a letter from the bank saying the account has not been touched and will be closed or frozen unless they hear from him. I told him to go and draw the money out, but he seemed to think the money isn't his!

Oh well!

Sarah

Savvy_Sue

DAVID_BOYALL wrote:

What is to stop you putting it in a high interest account and when they want it back tell them you have spent it but offer to pay it back at a £1 aweek

That's all well and good if they TELL you they want it back, but if they just TAKE it back without telling you they're going to do so, you can be well and truly stuffed with charges which far outweigh any interest you might get in the short term. Did you read what happened to Quncifer?

Rave_Knave

I've recently received £1000 from the Home Office who for some reason thought I was still on their payroll. One part of me thinks, 'Well, it's a large cumbersome organisation it'll probably get lost in some dusty accounts folder". Another voice pipes up, "Remember the work that you did at ***** Prison . Wouldn't want to end up there." Just because banks screw us doesn't mean that we should emulate their values, otherwize , we all end up covered in s***. I've written to the Home Office in such a way that I acknowledge the error but hoping that once again their reply or enthusiasm will end up covered in dust.