Mystery Money

david78

I have receieved a credit by BACS (its about £150) from an account I do not recognise. (My online bank gives very little information about who the sender might be).

What should I do? Is there any way to trace the payment?

I have asked the bank to see if they can find out its source but they can only return it to the sender if I give them written permission. (I haven't done this yet).

Now, if this is not my money I will certainly return it. But I am not 100% it is not mine as I think I have seen something like this before -- but I can't remember. Also I am concerned it is the first of many BACS payments by standing order and so the problem will re-occur next month.

duh

Tax refund? In anycase your bank should be able to tell you what account it came from no?

oldwiring

You never know; someone might be able to help if you gave the peyer's details as on your statement. An account is very vague!

Crabman

The bank should know at least the account number, sort code and name of the account where it originated.

david78

Thanks to all, but I have solved the mystery.

The payment is a refund from an overpayment to a Personal loan I held with Nationwide until 3 years ago This loan was paid off early with a lump sum from another (lower rate) Nationwide loan but they also took another monthly payment by mistake. I have just paid off the second loan, so I guess Natiowide have now spotted their error, seeing another £150 or so in the loan account.

So I'm keeping the money, its mine!. (Hurray)

Two things though:

(1) Why didn't the bank notice the account number was the same as the reference number used on my Direct Debit for the Nationwide loan (I have now cancelled this as the last payment was made last month)?

(2) Why have I had no correspondence from Nationwide, and will they pay me interest on this £150 for 3 years?

Thanks again
David.