Bank error in my favour???

lisahobden

you haven't paid for the car... didn't you notice?? I think you should check or bank balance a little more often.

And yes you will have to pay up. The bank will start legal action if you dont. My bank paid my builder twice and they are currently starting legal proceedings against him to get the 2nd amount of money back. He is being bloody minded but at the end of the day he is in the wrong and could end up bankrupt if he sits it out that long.

lisyloo

Whatever happens, it does not take 14 months either for the other party to find out that the money is missing from his account

It doesn't matter that there has been a delay.
They have SIX YEARS to reclaim.
This is irrelevant.
Annoying yes, but legally irrelevant.
There may be reasons why it has just been discovered..an audit perhaps?
Even bank incomptence does not mean you get off the hook.
It's still owed.

I think it very strange why two people didn't sort this out well before 14 months as it would flag up every time you checked your account !

My understanding is that the other party HAS received the money (read post 1).
It's bank B that have not received the money from Bank A.
Bank B don't have the payees address or details so they are asking their customer to chase the payee.
The money is owed but I think it's very important to pay it to the right party.

e.g. let's suppose the payee pays the 3rd party.
3rd party then goes bust,
Then bank B might have a legitimate claim from the payee.
I don't know the exact details but I'd want to make damned sure the debt is legitimate and it's paid to the correct party (so I've changed my mind about that being Bl**dy minded).

mel8o8o

Lisyloo, you are correct. It is the two banks that have not settled with each other. My bank will not pay his bank without the production of the valid cheque. The original cheque now being "timed out".
So yes his bank is politely asking me for another cheque, via the PA.
She said to me that they cannot deal with me directly as I am not their client.
Hence, yes, I am very much in clover, but if the other guys bank cannot pursue me directly, then is it possible that they may write off the sum involved?

cooltt

I really can't believe how utterly stupid some poeple really are.

bengal-stripe

mel8o8o wrote: »

Hence, yes, I am very much in clover, but if the other guys bank cannot pursue me directly, then is it possible that they may write off the sum involved?

If you don'y pay, the bank will claim the money back from their client.

mel8o8o wrote: »

The vendor is known to me, a business associate.

You might be in clover, your (soon ex) business associate is not.

If he gets the money deducted, he will have to sue you, and he will win!

Don't forget: You have not paid yet!

iolanthe07

OP must be very wealthy if he never noticed that his bank account was over by hundreds (thousands?) of pounds for 14 months.