Monies in and out of bank account without knowledge !!!!

dazbyd

.... if a company, either through accident or negligence credits your bank account with funds and then upon realising its 'error' simply takes the money back from your account and the first you know about it is when you check your bank statement ?

.... is this kind of practise allowed to happen ?

cheers

oldfella

2 sides to this
firstly it is their money and you would need to pay it on request

secondly I am not sure that they should unilaterally take it without your agreement

I suggest you write to them that their error has inconvenienced you.

Mike

Mark7799

What is the gap between the money going in and being taken back out?

johnmoney05

well...suppose no lost on your side?

skiddy2k

I dont mind if a company does that to me, providing its not in my account for too long... its in and out before I realise, if its in and stays there for more than a day and i withdraw/use the money and the company takes it back, putting me into overdraft, then I wont be very happy to say the least.

I'm sure there's a time peroid in which the money has to be taken back by... not sure what it is

oldwiring

You say in and out without your knowledge. So how did you find out if both transactions were without your knowledge? Excuse me if I am dim, but I don't understand

Anwen_2

skiddy2k wrote:

if its in and stays there for more than a day and i withdraw/use the money and the company takes it back, putting me into overdraft, then I wont be very happy to say the least.

But it's not your money to use...

Mikeyorks

Mistakes happen .... both inside and outside of the Banking world.

So if money is credited to your account by accident - it's simply removed when the mistake is realised and corrected. Doesn't need your permission to put it in by mistake .. doesn't need your permission to remove it and correct the error!

If the boot was on the other foot .. and money you paid to a creditor finished in someone elses account .. you'd expect it to be corrected?? Even if the error was yours by e.g, inadvertently giving a wrong account number to your payment

skiddy2k

Al_Mac wrote:

If you use the money it is theft, just because someone has made a mistake, that may take several days to rectify, it does not make the money yours.

:eek:

I think you have mistaken what I was saying; I didnt mean intentionally use, but incase i go to the cash machine and check my balance, if it says £200, I may think I have £200 of my money in my bank, so I may withdraw the money or use it unknowingly that its someone else's and if thats not bad enough, it then gets withdrawn and i go into overdraft.

Anwen_2

Yeah, but don't you know roughly how much money there should be? I mean, if using the £200 would make you be overdrawn when it gets (quite rightfully) withdrawn, then presumably you mustn't exactly have vast sums of cash floating around, so you ought to know whether there is £200 in your account or not!

oldfella

I disagree with some of you - if money is deposited in your account by mistake, and you spend it by mistake, then its automatically taken back and you get hit by charges - it seems to me that there is no deliberate theft, and you shouldnt be penalised. I dont see how money can unilaterally be taken from your account in this way. The least the bank should do is contact you, explain, and ask your OK for the money to be returned on an agreed date.

Clearly if its a substantial amount, then you cant spend £20K by mistake.

Mike