Bank Error in my favour... What to do???

oscar52

Some of the posters on here "claim" to work in this field/ area??!! - Ok lol

I am not jumping on the moral bandwagon, its been done enough already.

The situation is not quite as simple as some have stated - "the bank will adjust/debit your account" (or words to that effect.

IT ISNT THAT SIMPLE. Iys two different banks. Bank A has to contact Bank B - Bank B then has to contact the customer - they could be legitimate transfers - Bank B isnt going to know any different.

And to those that can be bothered scrolling back, I am aware I may have A and B mixed up, but its the situation that counts. While I agree that the customer/OP should contact the banks involved, its not quite as straightforward as some people seem to believe.

themull1

The bank won't ask for the money back, they will take the money back. If you transfer £9000 to a high interest acc, and the Bank debit your current account, you'll have a nine grand overdraft.!

RuthnJasper

sumguy wrote: »

Great post... got everyone biting...

We all know that morally we ought to act with integrity and revel in the gains that these positive actions provide... however... its interesting to see what price makes a persons boundries change... what would these members responses for morality be if this case in question was only say £12 pound added to your card...

Would everyone be banging on about integrity still ?? I doubt it.. I say start using another card if you have one available to continue your usual spending routine...

In the back ground you should try and enjoy the experience whatever the outcome is... who knows, you may have extra pennies in the future if this goes undetected... it may be rectified next week...

Most importantly enjoy the dreams this experience has generated! If you do or if you dont have an extra £9 grand available for free, you will definately know what you would spend it on !!

Good luck and Enjoy!

Hmmm... Well, I wouldn't want even £1 that wasn't rightfully mine (and I'm not a high-handed moralist, I can assure you).

OP - Pay back whatever is not legitimately yours; they will catch up with you in the end.

Imagine if you were a bank employee on a sh*t minus tax and NI wage and had to grovel to a manager about your mistake in putting these incorrect transactions through - or if the bank had accidentally TAKEN £9k from your account (regardless of whether the funds were there - and also charging you fees if there were insufficient funds). I would imagine there'd be slightly less of a dilemma as to whether or not to notify the bank, in that case...?

I know and appreciate that it's tempting to stick up two fingers to the banks. But keeping money that isn't yours is the first step on a road that leads to misery and despair. Tell the bank as soon as you can.

Good luck. x

IR_Fudger

sumguy wrote: »

morally...integrity...morality...integrity

There's also the small point about it being against the law...

Saints2011

The bottom line is it will be picked up and taken back im afraid.

meer53

oscar52 wrote: »

Some of the posters on here "claim" to work in this field/ area??!! - Ok lol

I am not jumping on the moral bandwagon, its been done enough already.

The situation is not quite as simple as some have stated - "the bank will adjust/debit your account" (or words to that effect.

IT ISNT THAT SIMPLE. Iys two different banks. Bank A has to contact Bank B - Bank B then has to contact the customer - they could be legitimate transfers - Bank B isnt going to know any different.

And to those that can be bothered scrolling back, I am aware I may have A and B mixed up, but its the situation that counts. While I agree that the customer/OP should contact the banks involved, its not quite as straightforward as some people seem to believe.

Oscar 52, i've worked in the Fraud/Disputes department of a very well known bank for over 17 years.

It's a very simple procedure to debit ANY account and place those funds into a suspense account, thus removing them from the account where they have been placed in error, and holding them until the bank where they should be claim them. There is no Bank A or Bank B situation as far s the OP's post is concerned, he has money in his account which doesn't belong to him, his bank can simply remove it at any time, and probaby will at some stage. It's a very straightforward issue, nothing complicated about it at all.

catflea

meer53 wrote: »

Oscar 52, i've worked in the Fraud/Disputes department of a very well known bank for over 17 years.

It's a very simple procedure to debit ANY account and place those funds into a suspense account, thus removing them from the account where they have been placed in error, and holding them until the bank where they should be claim them. There is no Bank A or Bank B situation as far s the OP's post is concerned, he has money in his account which doesn't belong to him, his bank can simply remove it at any time, and probaby will at some stage. It's a very straightforward issue, nothing complicated about it at all.

When I did that we'd send the account holder a letter warning them that we would do it and not to withdraw. Quite a few withdrew it in the hope it would stop us doing it. Foolish people!

meer53

catflea wrote: »

When I did that we'd send the account holder a letter warning them that we would do it and not to withdraw. Quite a few withdrew it in the hope it would stop us doing it. Foolish people!

To be honest Catflea, from a customer service point of view i would probably call the customer too before i debited them but i would action the debit as soon as i'd spoken to them. I think people just think that the banks won't notice and hope that they will get to keep the money ! ALL internal bank accounts have to be reconciled and thats when any errors are picked up.

catflea

I know, I dealt with reconcilliations, mainly relating to payment in error and Direct Debit processes. We were in a non-contact environment and did not have facilities to appropriatly ID people if we rang them, so not an option.

united66

Spend it all on a one way ticket to Dubai

Not really.. as most have said this will get noticed so it would be best to ring up and notify it.
Has the card relating to the account not been blocked yet just out of curiosity?