Advice on Refund Error...

BigChris_4

Right.
Last September, I ordered some currency from an online bureau, to be collected. In between ordering and collecting, my bank switched from Switch to Visa. As a consequence, they bureau had to refund/recharge the transaction.

For whatever reason, they refunded both the old card and the new card (instead of just the old), so I was left with the original transaction money in my account (approx £1000). Now, I understand that the money is not mine, and I've not spent it, but this morning they phoned to say that they're going to take the money again.

I have no problems with sending them the money (minus a small admin charge), but my understanding is that since they've effectively refunded and finished both transactions, this would class as a new transaction, and therefore would have to be authorised by me.

I explained to them that they could have the money once I'd "checked my statements", but they said that unless I agree by tomorrow lunchtime (28/1/5), they're going to take it anyway.

Admittedly, I'm happy to give them the runaround as they did with me in the original transaction, so my question is this:

Can they just take the money from my account without my permission?

At the end of every month, I sweep all the spare cash in my current account into a higher interest account, so ideally, I'd like to put this off for as long as possible (thinking of the interest!), and send them a cheque...

How should I proceed with this??

Many thanks,

Chris

jonesMUFCforever

As you have acknowledged that the money is not yours and you have received the benefit of interest for the best part of 4/5 months on it, I think the company is perfectly entitled to process the debit again through your account.
As for you holding them to a small admin charge - again I think this is a no no. On what basis can you justify this?
Although the bank made an error with this transaction you have actually benefited from it and IMO should now pay back without quibble.
Eric

BigChris_4

In the end, we've come to an agreement. The issue is that the money is swept into my Halifax Regular Savers account, and the only way I could get that out is to close the account, and forfeit the interest I would earn up until it pays out in July. While I've gained 4-5 months interest on £1000, I'll be losing out on 7-8 months interest on my money in there (a lot more than £1000....)

They've acknowledged this, and have agreed to compensate me the difference between what I've lost on mine, and what I've earned on theirs..

So, I'll just have to open another account!

Thanks for the 'help' anyway.

Chris