Unknown deposit into my account

rb10

Generally in my experience, when people have an unidentified credit to their account, it's from one of the following:

1) An electricity/phone/gas provider who is giving a refund of a credit balance that's on your account. For example, BT refunds can often show on your account as 'BT' followed by a string of numbers and letters (your customer reference?).

2) An HMRC refund.

[Deleted User]

michaels wrote: »

I was wondering where my money had gone - I must have mis-entered the sort code when I did the transfer. If I PM'd you my paypal details please could you return the funds - and please keep a tenner for your honesty and trouble

hahahahaha

anna42hmr

thenudeone wrote: »

I remember a case on Radio 4's Moneybox about someone who made a payment in error. The receiving bank refused to tell him details of the actual recipient (Data Protection) and it could not be recalled, so he lost the money.

.

I have heard of that a few times, which to be honest i am not surprised about, one they would be in huge trouble if they breached dpa and two for all the bank know it could have been a genuine payment (ie to a tradesman for example) and someone just deciding they want to get their money back, and they class it as a civil matter.

In the cases i have heard of though, the banks usually offer to send a letter to their customer to notify them of the fact someone is saying they have been paid in error and ask them to contact them or offer the person who is wanting the money back to write a letter to the recipient which the bank can then forward to the recipient.

[Deleted User]

thenudeone wrote: »

That is simply impossible. Once you make a payment to someone from your bank account, you can't just reverse it and take it back - you try it!

It is possible for a sender to recall BACS payments within a tight timescale: https://forums.moneysavingexpert.com/discussion/comment/36959100#Comment_36959100

But it is even more difficult (perhaps impossible) to retract a payment made in error through Faster Payments. For example Natwest states that it is not possible: http://www.natwest.com/microsites/personal/faster_payments_service/faster_payments_faq.asp#3

I remember a case on Radio 4's Moneybox about someone who made a payment in error. The receiving bank refused to tell him details of the actual recipient (Data Protection) and it could not be recalled, so he lost the money.

I would keep going through the complaints procedure until you get a resolution. If you spend it knowing its not yours, you could be guilty of theft.

Thanks for the links - will take a look.
I am working my way through the complains procedure (although this is made more difficult by the bank employees lack of communication, and every time I contact them I seem to start at the begining again *sigh* - one of the main reasons I wish to switch bank) but finally I do seem to be getting somewhere and they are contacting the bank that transfered the funds.

I have no intentions of spending the money, I am almost certain that it was not meant to find it's way to my account (but will be very plesantly surprised if it was:) ) - I just never realised how arduous it would be to find out where it came from and send it back!

[Deleted User]

rb10 wrote: »

Generally in my experience, when people have an unidentified credit to their account, it's from one of the following:

1) An electricity/phone/gas provider who is giving a refund of a credit balance that's on your account. For example, BT refunds can often show on your account as 'BT' followed by a string of numbers and letters (your customer reference?).

Certainly more cash than I would let the utility companies keep a hold of earning no interest- but then I keep my accounts up-to-date

also not likely as I pay these from a different account

2) An HMRC refund.

I don't see why they would have my bank details - I have certainly never given them this info knowingly, and I have never been asked to, and I recieved a nice cheque from them not too long ago. They've certainly not had any further communication with me saying that they under paid (although this would be nice)

[Deleted User]

anna42hmr wrote: »

In the cases i have heard of though, the banks usually offer to send a letter to their customer to notify them of the fact someone is saying they have been paid in error and ask them to contact them or offer the person who is wanting the money back to write a letter to the recipient which the bank can then forward to the recipient.

Yes, the bank have now agreed to do this (after a phone call and several visits in branch)

Hopefully this will bring a resolution

Cash-Strapped.T32

Is it a significant amount of money?

If so then no harm in keeping it warm in an insta-savings account I would imagine?
(If the bank have to write before it's taken back, then that seems plenty of time for you to move it back out of savings, into an account they can dip into)

Ok, it won't exactly make you rich, a few months interest (well, a few months if your current bank are as slow as you imply), but surely a few quid in interest for your honesty seems a fair outcome for all? :cool:

pcombo

Much was paid on everyone wants to know

Hardly a secret if its not your's.

Nothanks

Hey OP,

REF: above question, Yes, that's exactly what I meant by statement narrative. Even if it's a string of meaningless digits or initials it may ring a bell with someone on the boards.

LauraLeah91104

this happened to my friend 3 weeks before christmas. She nipped to atm to withdraw a tenner to get some fag, and got a shock when she asked for a balance. she was expecting £35, when infact, there was over £14k. There had been a one off payment of over 14 and a half grand.
We had the same discussion about whether she should spend it, and because she was at work, there was nothing she could do until the following day as her shift finished after the banks had closed for the day.
She racked her brains for the whole shift and couldnt come up with anything to amount to this amount of money.
Then the next morning, even before she had had chanc to ring the bank, she got a letter through the door from her solicitor, it turns out the compensation claim, for her, her son and her daughter had finally been settled and the money was paid in quicker than royal mail deliever first class post. She got £8k for a new car after her other one was written off, £4k for her injuries and £3k between both of her kids.
Needless to say, after work she went on a bit of a spending spree. kids got spoilt this year!
If it happened to me, id put it into a high interest (if they still exsist) so atleast its working for you whilst you are waiting to see if you can spend it or return it.
Hope you get sorted...