£21,000 paid into account, mistake

avi_3

We live in a world where someone loss is someone's gain. Right from countries fighting against each other i.e wars, economically, down to getting employment, or even our utility bills.
It was someone's fault to deposit that money into your account, and i think it is their responsibilty to recify it. But i wouldn't use the money, but just let it stay in my account till they find out.
Also it will be interesting to know how long you have to wait until you can legelly use the money.
Ther was an incident where one of my friend was paid salary for 6 months, although he had left the job and was working elsewhere. He later called them to inform them, when they demanded the money straight away, but he said he could not pay it, and so they allowed him to pay it up in small amounts over 15 years.

mimmo88

forgive me i am a first time user if this is in the wrong place.
I used to work for Pfizer 10 years ago and at that time bought 114 shares.I received a letter yesterday saying they had made a computer error over the last six years and would like £3,600.00 back by return!apparently they have overpaid my dividend payments into my account every quarter . I had no idea and as i expected dividend payments I did not think about £100.00 at a time being fed into my account as being unusual.I do not have the money and am at a loss as to what to do as i had no idea there was any overpayment involved. They have also threatened to sell my shares towards the cost of this error do i have any rights??
many many thanks in advance for any thoughts on this matter?

Clive_Woody

mimmo88 wrote: »

forgive me i am a first time user if this is in the wrong place.
I used to work for Pfizer 10 years ago and at that time bought 114 shares.I received a letter yesterday saying they had made a computer error over the last six years and would like £3,600.00 back by return!apparently they have overpaid my dividend payments into my account every quarter . I had no idea and as i expected dividend payments I did not think about £100.00 at a time being fed into my account as being unusual.I do not have the money and am at a loss as to what to do as i had no idea there was any overpayment involved. They have also threatened to sell my shares towards the cost of this error do i have any rights??
many many thanks in advance for any thoughts on this matter?

For a company the size of Pfizer I would be tempted to tell them to go jump chasing up £3600, but probably not the best move. I take it they are still holding your shares otherwise they would be unable to sell them? If they are held in a share save scheme and it's 10 years since you left you should be able to sell them without tax implications (check this to be sure though). At their current price this would get you around £1500.

It might be worth simply sending them a letter stating that you are unable to replay this sum at this time, and you are not happy for them to sell your shares. Perhaps then make some sort of proposal to repay them at a monthly rate you can afford.

If you owe them money they overpaid you then I think they have a right to reclaim it, although this may be infuenced by the time-scale this has happened over.

ukbill69

Take the money and close the account and run very fast lol.

anniecave

if they've been making errors over a six year timescale and have only just realised this then I would think you are entitled to pay it back over a six year period

mazz1953

A couple of years ago, someone down my way had £40.000 put into his account, he quickly spent it all without notifying the bank of the mistake. He got taken to court and very narrowly missed getting a prison sentence. The judge said it was because he had paid the bank back by borrowing the money off relatives.

However, he did end up with a criminal record and as he was a doctor, it has probably ruined his future career moves.

peter999

Vlad24 wrote: »

A few years back I had £1,000,000 put into my savings account. It was only there for a few hours but made me £70 interest. It was a savings account I did not use so only found out when I received my yearly statement. Anyway, atleast I can say that I have been a millionaire :j

You're joking, aren't you !!??

Did you have a heart attack ??

peter999

peter999

Let them rectify their mistake.
You don't have to do anything.

They'll need court order to do anything if you don't agree.

peter999

peter999

mimmo88 wrote: »

forgive me i am a first time user if this is in the wrong place.
I used to work for Pfizer 10 years ago and at that time bought 114 shares.I received a letter yesterday saying they had made a computer error over the last six years and would like £3,600.00 back by return!apparently they have overpaid my dividend payments into my account every quarter . I had no idea and as i expected dividend payments I did not think about £100.00 at a time being fed into my account as being unusual.I do not have the money and am at a loss as to what to do as i had no idea there was any overpayment involved. They have also threatened to sell my shares towards the cost of this error do i have any rights??
many many thanks in advance for any thoughts on this matter?

This thread is over a year old.
I would start your own thread.

peter999