Money transferred to wrong account, bank won't pay it back.

happs

I was transferring £100 to my friend and i've accidentally sent it to an account that he is seriously overdrawn on. I asked my bank to put a trace on it to request it back and my friend received a letter asking if this was okay but it also said if he didn't have the funds (he doesn't) then it wont be put through. To simplify thing i've said that i was trying to transfer the money to someone else but what are my options here, surely the bank has to accept that it was accidental, my friend has given them notice that he makes no claim on the money so they can't have any right just to use it to pay off his overdraft.

Anyone know what my rights are here or can point me in the direction of info i can read up on it. The receiving bank is Lloyds if that makes any difference.

richardmk

If you say you were transferring to someone else I hope you did not quote the friends name on the transfer. Dishonesty is never a good course of action

happs

richardmk wrote: »

If you say you were transferring to someone else I hope you did not quote the friends name on the transfer. Dishonesty is never a good course of action

Nope, only entered the amount. Saying i was transferring to a different bank for the same person unnecessarily complicates matters but who i was transferring it too is of no importance, it was a transfer made in error.

Torry_Quine

It depends on who made the mistake. Did you give the wrong details which makes it your mistake and therefore the bank do not have to get it back.

happs

Torry_Quine wrote: »

It depends on who made the mistake. Did you give the wrong details which makes it your mistake and therefore the bank do not have to get it back.

It was online, i selected the wrong account to make the payment to and didn't notice. It might be my mistake but it still doesn't make it their money. Both parties have informed the bank that it was made in error. I'm pretty sure that when banks make erroneous payments into peoples accounts that they don't accept finders keepers as a valid argument.

I'm no lawyer but i'd have thought keeping money you know is not yours amounts to theft.

Azrael_1701

happs wrote: »

It was online, i selected the wrong account to make the payment to and didn't notice. It might be my mistake but it still doesn't make it their money. Both parties have informed the bank that it was made in error. I'm pretty sure that when banks make erroneous payments into peoples accounts that they don't accept finders keepers as a valid argument.

I'm no lawyer but i'd have thought keeping money you know is not yours amounts to theft.

If it was a bank error, then there are ways in which they can ATTEMPT to get it back, if it was your error, then they wont.

Torry_Quine

happs wrote: »

It was online, i selected the wrong account to make the payment to and didn't notice. It might be my mistake but it still doesn't make it their money. Both parties have informed the bank that it was made in error. I'm pretty sure that when banks make erroneous payments into peoples accounts that they don't accept finders keepers as a valid argument.

I'm no lawyer but i'd have thought keeping money you know is not yours amounts to theft.

The problem is that the bank did what you asked and so it will be very difficult to get it back especially as the account in question is in overdraft.

happs

Azrael_1701 wrote: »

If it was a bank error, then there are ways in which they can ATTEMPT to get it back, if it was your error, then they wont.

It was my error, i've happily admitted that but that still doesn't make it their money.

catfish50

happs wrote: »

It was my error, i've happily admitted that but that still doesn't make it their money.

The overdraft makes it their money.

happs

catfish50 wrote: »

The overdraft makes it their money.

and nobody sees anything wrong with that?

MME_2

Is the account over an agreed overdraft leaving £0 available or within an agreed overdraft? Either way I can't see you having much joy here.