Reclaiming overpayments made to my bank account

gruntler

Until Aug 09 I held an online share dealing account with an online broker, In august it was transferred to another broker and closed with a zero balance. Last week I received a request to repay £700 for what the broker claimed was an overpayment in Jan 09.

My share dealing account shows that in Jan 09 I made two sperate requests to have money transferred from my online share dealing account to my bank account for £700, on each occasion my balance in the online accounted was debited £700 and my bank account credited for £700, therefore I did not believe there was any problem.

The broker now claims they made an internal error, the funds were paid directly out of their bank account and did not debit my On-Line Trading account.

What are my rights in this matter

cifpower

If the money is not yours you have to pay it back. If you do not, it could be construed as theft