Insurance company sent me cheque in error

tillysquibs

My pet insurance company have sent me a cheque for £750 in error? I'm desperately hoping they won't notice? What are the rules on them asking for it back? If I have it for a certain amount of time does it make it mine?

uk-tyler

They will figure it out and want the money back. They have six years in which to reclaim it.

It is not your money, don't cash the cheque.

dunstonh

What are the rules on them asking for it back?

As you know its not yours and you have no reason to think it is yours then you do not have any legal claim on it and they are within their legal right to ask for the money back or take legal action against you if you refuse.

sb2_2

You will be made to repay the money when they find out, which is right.

Imagine you made a payment into the wrong account then find out the persons taken the money and unable to get it back?

skintandscared_2

Just send it back to them!

lisyloo

After 6 years it becomes legally unenforceable.
I'd send it back as I wouldn't want to wait 6 years.
Could get you into trouble if you spend it and then they ask for it back.

sarahg1969

As you're aware that it's not yours and you have no reason to believe you are entitled to the payment, if you cash it, you could find yourself in liable for a theft or fraud charge.


http://www.thenorthernecho.co.uk/news/8965766.Couple_spared_prison_after_bank_error_in_their_favour/

Send it back.

vaio

sarahg1969 wrote: »

......Send it back.

Together with a bill for an "admin fee"

£50 is deemed reasonable these days

sarahg1969

vaio wrote: »

Together with a bill for an "admin fee"

£50 is deemed reasonable these days

Or just shred it? For free.

vaio

You have a free shredder?

Mine cost £30 and that’s before you factor in electricity costs, overheads, training & maintenance costs etc etc

I guess you must work in the industry, customer makes a mistake and the insurance company can charge £50 for the sheet of paper, envelope & stamp to correct it, insurance company makes a mistake and the customer is expected to sort it out for free.

sarahg1969

vaio wrote: »

You have a free shredder?

Mine cost £30 and that’s before you factor in electricity costs, overheads, training & maintenance costs etc etc

I guess you must work in the industry, customer makes a mistake and the insurance company can charge £50 for the sheet of paper, envelope & stamp to correct it, insurance company makes a mistake and the customer is expected to sort it out for free.

It doesn't need to cost anything though, does it?

The OP probably doesn't have any overheads to cover like a company would. She doesn't have to pay staff to deal with it, or anything like that.

In any event, she has no obligation to "sort" anything out for the insurance company.

Tearing a cheque into little pieces is free. I certainly wouldn't be advising the OP to spend money buying a shredder to shred one cheque! That would be silly. Alternatively, she could just leave it where it is - in a drawer or wherever. Again, for free.

She can send it back in the original envelope, without a stamp, and without a letter attached, next time she is passing a post box. Again, at no expense.

Going to the bank and cashing the cheque would cost her more, wouldn't it?