Random payment received

leandygandy

I've had a credit into my bank account under narrative NNL ACCOUNTS PAYAB. Anybody know who it could be from? Google has not been my friend in my search this time.

The bank account it credited is a bills account used by my husband and I - we don't make payments from it other than SOs and DDs for househould bills, and the narrative doesn't seem to tie into any of the companies we usually pay so I don't think it's a rebate for anything...similarly, our wages are paid into our own accounts and we transfer money in from there so it's not employment linked?

I just don't know who could have our account details and want to give us money? Hubby is as in the dark as I am.

I called the bank to see if they could give me any more information as to where the payment had come from but they werent able to provide anything I hadn't already seen on online banking...

Any ideas?

Shall I put the money in our savings account on the basis that someone may ask for it back soon?

All suggestions welcome!

TonyMMM

Ring the bank and ask if they can tell you where it has come from ...?

... if it is a mistake, you have no right to keep it - they will take it back anyway.

leandygandy

TonyMMM wrote: »

Ring the bank and ask if they can tell you where it has come from ...?

... if it is a mistake, you have no right to keep it - they will take it back anyway.

I did, but they couldn't give me any more info.

I don't have plans to spend it as I don't think it's due to us...just not really sure what to do, I don't want to keep it in that account as we usually sweep any money left at month end into savings, and it'll be a real pain to have to keep remembering to leave that amount in there 'just in case'.

Was just wondering if this had happened to anybody else before, and if there's anything else that I should be doing to trace the origins?

YorkshireBoy

leandygandy wrote: »

Was just wondering if this had happened to anybody else before, and if there's anything else that I should be doing to trace the origins?

Happened to me last year with a very large 4 figure credit from another institution (not an individual). No point pushing the bank, as I found out...better to sit back and wait for them to write to you for permission* to remove the funds and send them back. It took 8 weeks for them to contact me, and in the meantime I shifted it into a savings account and made a little interest on it.

* So long as fraud or money laundering are not suspected it's safe to assume they won't just take the money back without your permission.

leandygandy

YorkshireBoy wrote: »

Happened to me last year with a very large 5 figure credit from another institution (not an individual). No point pushing the bank, as I found out...better to sit back and wait for them to write to you for permission* to remove the funds and send them back. It took 8 weeks for them to contact me, and in the meantime I shifted it into a savings account and made a little interest on it.

* So long as fraud or money laundering are not suspected it's safe to assume they won't just take the money back without your permission.

Five figures, wow! This is £45 so not quite as large a sum, but still - if it's not for me I don't want it!

YorkshireBoy

leandygandy wrote: »

Five figures, wow!

Apologies, it was a 4 figure credit. Post corrected.

Lawpf2001

I would be wary about spending it. If it the payment doesnt have your name on it as the recipient then the bank can take the payment back at any point.

Cmdr_Bond

Lawpf2001 wrote: »

I would be wary about spending it. If it the payment doesnt have your name on it as the recipient then the bank can take the payment back at any point.

The OP is NOT asking whether they can spend it, they know that that is not possible.

I know it is a pain, but for that figure, I would try and leave it in the account just to prevent unauthorised overdraft.

real1314

I don't know if it's been thrashed out in law yet, but if you find money in the strett, you notify the plod, they hold it, and if it's not claimed after 90 (?) days, you can keep it.

So, if you notify your bank, what happens then if the rightful owner does not come forward?

90 days?

pvt

real1314 wrote: »

I don't know if it's been thrashed out in law yet, but if you find money in the strett, you notify the plod, they hold it, and if it's not claimed after 90 (?) days, you can keep it.

So, if you notify your bank, what happens then if the rightful owner does not come forward?

90 days?

Well in the former case the money was lost, and plod will give it to you after 90 days because it is a reasonable amount of time for someone to report the loss to them.

In the latter case a mistake has been made by someone. There is no reasonable justification that the recipient should profit from the mistake.

So it's the difference between finding money someone else has lost and being given money by mistake.

real1314

pvt wrote: »

Well in the former case the money was lost, and plod will give it to you after 90 days because it is a reasonable amount of time for someone to report the loss to them.

In the latter case a mistake has been made by someone. There is no reasonable justification that the recipient should profit from the mistake.

So it's the difference between finding money someone else has lost and being given money by mistake.

Losing money in the street is a "mistake" (assuming it's not deliberate). Is these a reasonable justification that a finder should profit from this mistake?

In the latter case, the sender of the payment does not know (realise) where the money is. The intended recipient doesn't know either. In essence the money has been lost, much like the former case.

The OP "found" the money. It was in their bank account that they found it. If the cash in the former (money lost) scenario was found on someone's property, would it be considered "given by mistake"?