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Unknown deposit

This isn't strictly a money saving query, but I've recently had a fairly large sum of money deposited into my current account from a well known credit card company that I don't have a credit card with. I tried to inform my bank of this by telephone, but they were disbelieving that I didn't know where the money was from and a promise to return my call after investigation never happened.

Obviously I don't want to spend the money because it isn't mine, but does anybody know what steps I'm obliged to take to inform the bank of their error and if there's a minimum amount of time it can stay in my account for before it legally becomes mine?

Comments

  • No and it never becomes ''your '' money.
    It may take a few days or even a month or more for someone to notice that the money is missing but they will claim it back and they need not give you notice of withdrawing it.
  • Earn interest on the money while it is in your account, they can't claim that back.
  • daveboy
    daveboy Posts: 1,400 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Stick it in a savings account that pays a good rate of interest.
  • ffacoffipawb
    ffacoffipawb Posts: 3,593 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    ejones999 wrote:
    No and it never becomes ''your '' money.
    It may take a few days or even a month or more for someone to notice that the money is missing but they will claim it back and they need not give you notice of withdrawing it.

    A friend had a similar experience, and it was over a year before they took the money back, after writing to say that they would be doing. Indeed, friend didn't spot it until he error was pointed out to him (busy bank accounts with stoozing!).

    Reckon he made over £100 in interest on that error, still dwarfed by his stoozing activities of course. The bank never mentioned repaying that.
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