unknown payment via cheque

4l3k0

Hello,
someone i know recently received a large amount of money paid into her account (around £7,500) via cheque, and i was wondering what amount of time needs to pass before she can claim the money, and if she did move the money out of the account, what implications this may have.

Thanks
Alex

Consumerist

The money is not hers, unfortunately, so she will have to pay it back eventually.

The consequences depend on the circumstances. If her bank has credited the value of the cheque by mistake, they are likely to take it back without notice.and if she has withdrawn the money, she may then go overdrawn on her account.

Best advice is for her to tell her bank but leave the money in the account. She will get any interest it may earn whilst in her account.

dzug1

The money will never actually be hers.

After 7 years she cannot be pursued for it through the courts though so in practical terms it's then.

There was a scam a little while back:

money goes into your account
you get a letter/e-mail asking you to pay cash via Western Union to an individual in exchange for a percentage of the money
you do so
the original money gets bounced from your account as it was a fraudulent transaction

you lose

Moving it from the account is dodgy - it can be interpreted as theft.