What happens when money is paid into your account in error??

skylight

I wouldn't send them a cheque at this stage - just tell them that you are away over the Christmas and New Year period and will be organinsing a refund in January 2007 when you are free.

You do have to pay it back, its legally not yours. But there is nothing to say you have to rush to send it back and you are entitled to keep the interest on it in the meantime.

But there should be a really big stink up about the fact they have disclosed your personal details and I would want this sorted first!

laurajayne

I would also go to the cash point, and get a balance reciept....frame it and put in on the wall

Not very helpful though...sorry..;)

JoeyG

Dont forget to charge them for your time... including time spent investigating the implications of them sending out your personal bank details

Mark7799

Wyndham wrote:

However, you COULD (and I don't really suggest you should, only that it is a possibility) say that you have used the money and can only pay back slowly - say £100 per month

I don't think you can do this - can't remember case law but if a sum of money unexpectedly appears in your account which you can't reasonably expect to be part of your normal business, mis-appropriation of this would be considered theft.

helenp33

Thank you so much for the advice! I knew I'd get straight and honest answers from you all.

I will definately print a mini statement off (thanks laurajayne) and will treasure it always as the first & only time I had that much money in my account!!!

I am in the process of writing an email to the Financial Director of the company and will speak again to the bank to see about the direct debit situation. The cheque will be posted 2nd class in the New Year and boo ya sucks if they want it sooner - it has actually taken me about 3 hours to try and sort out the mess, so the interest I make on the account in the meantime will pay for my time.

Once again - thanks to one and all!

helenp33

OK.

I've spoken to my bank and although in theory a direct debit can be set up against my account, if I call them they will refund any money straight away - although "if you upgrade your account today, you will be automatically covered!" etc etc.

and thank you ts_aly2000 - I hadn't thought of that, they won't charge me for writing out a cheque for that amount! Good news though, I'm now on first name terms with most of the branch!!!!!!

Ian_W

ts_aly2000 wrote:

Five figure sum?? Ideally you need to run this past your bank, as you could be charged for issuing a cheque of that amount.

I very, very much doubt that. OK a really BIG cheque, as in 8ft x 6ft might incur a charge as 2 members of staff might be needed to carry it but as in £10K, £15K or £20K - it's one transaction with the same work as a cheque for a penny. Just to be sure I checked my current account T&Cs and I can't find a REALLY, REALLY big cheque charge anywhere.

Now that one I would fight as an unfair bank charge when they're gonna make on the time the money's in the ether whilst it's left your account but not cleared in your ex-employers one!!

wireframe_2

Make a withdrawal. Get it in pennies. Then give it all back.

Avoriaz

If this happened to me, my actions would vary according to how good or bad an employer they were when I worked for them and how much I might rely on them for a reference in the future.

If they were a decent employer and I might want a good reference, I think I would send the money back straight away.

If they were sh1ts and I am certain I will never need a reference I would write to them, complain bitterly about the abuse of confidentiality and tell them that I will return the money as soon as they agree to a reduction of say £100 (1% of £10,000, maybe make it a bit more if the amount is bigger) for my time, trouble and the breach of confidentiality.

Meanwhile put the money in an interest bearing immediate access account and stall returning it for as long as possible. You should be able to earn maybe £20 interest by delaying for a month or so.

An alternative strategy is to gamble with the money. Put it on a few horses or footie matches or play roulette with it. If you win big you have done well. If you lose the lot, tell them that you are addicted to gambling and the temptation of having all that money was too much for you. Tell them that if they sue, you will counter sue them for causing you to relapse from gamblers anonymous.

The last paragraph is not necessarily to be taken seriously.;)