Bank error in my favor!

andyuk2005

Hey guys, I was hoping you could help me. Like a lot of students I just got my student loan. Because I had overdrafts elsewhere, I moved some money from my halifax into two of my other bank accounts and also to my brothers. However as I moved this money, it appeared to double when I received it in my other accounts and at my brothers. For instance when I moved 500quid from my halifax to my nationwide over the internet, I was debited 500 from my halifax but credited TWO 500s in my nationwide. Obviously halifax got something wrong, but im not so keen to tell them! I was wondering what my position is, as I haven't done anything wrong!

The money is cleared and I haven't heard anything from either of the banks, does it look like its my lucky day?!

Cheers, andy

rb10

Looks to me as if Nationwide have made a mistake in crediting the payment to your account there. Chances are the system will notice this soon and they'll debit £500 back out. Don't spent it just yet!

Oblivion

andyuk2005 wrote: »

Like a lot of students I just got my student loan. Because I had overdrafts elsewhere, I moved some money from my halifax into two of my other bank accounts and also to my brothers. However as I moved this money, it appeared to double when I received it in my other accounts and at my brothers.

Have you actually checked your latest Halifax balances to make sure the money hasn't been debited twice and you've now gone overdrawn? :eek:

Oh, and in my experience, if it is a banking error, they don't usually go unnoticed for long.

Dave.

Aspiring

andyuk2005 wrote: »

Hey guys, I was hoping you could help me. Like a lot of students I just got my student loan. Because I had overdrafts elsewhere, I moved some money from my halifax into two of my other bank accounts and also to my brothers. However as I moved this money, it appeared to double when I received it in my other accounts and at my brothers. For instance when I moved 500quid from my halifax to my nationwide over the internet, I was debited 500 from my halifax but credited TWO 500s in my nationwide. Obviously halifax got something wrong, but im not so keen to tell them! I was wondering what my position is, as I haven't done anything wrong!

The money is cleared and I haven't heard anything from either of the banks, does it look like its my lucky day?!

Cheers, andy

No, you haven't done anything wrong to cause this, but, it's not your lucky day either because the banks can claim it back as soon as it's noticed. And it will be

Oblivion

Aspiring wrote: »

No, you haven't done anything wrong to cause this

I'm not sure one can even make this assumption, based on the limited information supplied. If the OP carried out these transfers electronically, it's not beyond the bounds of possibility that he's accidentally initiated the transactions twice.

Dave.

Aspiring

Oblivion wrote: »

I'm not sure one can even make this assumption, based on the limited information supplied. If the OP carried out these transfers electronically, it's not beyond the bounds of possibility that he's accidentally initiated the transactions twice.

Dave.

Fair point, Dave, but I wasn't assuming it, I was going by the information given by the OP

I was wondering what my position is, as I haven't done anything wrong!

andyuk2005

I'm pretty sure it was halifax made the mistake, as my nationwide, smile and my bros nationwide all got credited twice instead of the once they were supposed to. However I know the halifax can't retract the money immediately as they don't have the authority off me to do so from my other banks, I can only imagine they can send me a letter to request the money back, but can't I just say no? for all they know I could of sent it to a complete stranger for who I have no say over!!

denny15

just to let you know from one who is unfortunate enough to work for a high street bank, (not either of the ones you have the query with though) they should request that you refund the money, however legally you are not entitled to keep the money once you realise an error has occured. also it is not uncommon for banks to close account of custmers who don't return funds when requested , and they will probably keep requesting for some time. depending on how the funds have transferred it might be possible for them to recall them electronically anyway...but definately wouldn't spend them just yet! :rolleyes:

mouthscradle

andyuk2005 wrote: »

I'm pretty sure it was halifax made the mistake, as my nationwide, smile and my bros nationwide all got credited twice instead of the once they were supposed to. However I know the halifax can't retract the money immediately as they don't have the authority off me to do so from my other banks, I can only imagine they can send me a letter to request the money back, but can't I just say no? for all they know I could of sent it to a complete stranger for who I have no say over!!

Or they could just correct the mistake and debit you for all the double transactions and take you scarily overdrawn?

Oblivion

Another observation. Had this been a single duplicated transaction, then it might well be classified as a one-off error that could go unnoticed for some while ... but I doubt forever.

The fact that it is three separate electronic transactions that have been duplicated points to the distinct possibility that this was an entire overnight transfer file that got run twice by accident. It probably contains hundreds if not thousands of customer transactions, many of which will be for much more significant sums than the OP's.

Duplications on that scale don't go unnoticed for long, and the initiating bank would probably just arrange a reversal.

Dave.

TDQO

To be honest you're probably better off informing them and getting the money returned as the consequences of them debiting the money twice will be severe!