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Banks own mistake

I was recently paid 500pounds into my bank account, and 1month later recieved a personal letter from the branch itself asking me to in and we can sort the issue out. does anyone know where i stand, can they by law demand the money back??Thanks a lot
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  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    Whats the issue? :confused:
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    edited 9 May 2009 at 4:25PM
    I was recently paid 500pounds into my bank account, and 1month later recieved a personal letter from the branch itself asking me to in and we can sort the issue out. does anyone know where i stand, can they by law demand the money back??Thanks a lot
    If the money isn't yours, why do you think the bank shouldn't return the money to the rightful owner?

    If you knew the money wasn't yours and you spent it that is theft.

    Where do you stand? It isn't your money, so you should give it back.
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    Oh yeh sorry I thought the OP said they paid money into the account lol.

    Yes OP you need to pay the money back.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    Lokolo wrote: »
    Oh yeh sorry I thought the OP said they paid money into the account lol.

    Yes OP you need to pay the money back.
    I've been using a 'Universal Translator' to promote the new Star Trek movie :rotfl:.
  • MarkyMarkD
    MarkyMarkD Posts: 9,912 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    As all the others say, if you were wrongfully (and knowingly) credited £500 that was not yours, and spent it, then you have stolen that money and should pay it back. They might give you some time to do so.
  • If you pay 500 pounds into your personal account and checked later and its not there,wont you go mad?The 500 you have is for another customer,sopay it back...I used to work in a bank and this happens all the time.
    You can't keep a good man down...
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    If you pay 500 pounds into your personal account and checked later and its not there,wont you go mad?The 500 you have is for another customer,sopay it back...I used to work in a bank and this happens all the time.
    I think you should name and shame your former employer.

    I used to manage a branch and it happened once in a blue moon.
  • Mikeyorks
    Mikeyorks Posts: 10,377 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    opinions4u wrote: »
    I've been using a 'Universal Translator' to promote the new Star Trek movie :rotfl:.

    So it recognises Klingons ...... but not Scammers! ;)
    If you want to test the depth of the water .........don't use both feet !
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    Is the new movie any good? Slightly off topic I know...
  • Aegis
    Aegis Posts: 5,695 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I was recently paid 500pounds into my bank account, and 1month later recieved a personal letter from the branch itself asking me to in and we can sort the issue out. does anyone know where i stand, can they by law demand the money back??Thanks a lot
    As others have said, pay it back. It's not your money, why should you benefit from someone else's misfortune?
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
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