This board needs a sticky with obvious answers

Zanderman

Al_Mac wrote: »

The answer to questions such as.

q) Money has appeared in my account. Can I spend it?

a) NO!

There have been several threads with similar questions now and then, and usually the answer is fairly clear-cut - but I recently came across a new scenario, which I'm still puzzling over...

My neighbours recently sold their old caravan (a big static one) for £4000 to the caravan park owners. The payment was guaranteed (by their contract) within two weeks of completion - but it didn't arrive on time. So they made a fuss, every day, by phone and email, until it was paid. It worked and they were paid just a few days overdue. And that should have been that.

But... about 6 weeks later they were paid £4000 again (by bank transfer both times). So they now have £8000. They assume the explanation is that the first payment was authorised in a rush just to shut them up, and whoever authorised it failed to stop the original (but very late) scheduled payment.

They've asked me what they should do about it - and I dunno! Any thoughts out there?

UPDATE Sunday 11th Aug: All paid back last week apparently - so nothing to comment on now...!

Archi_Bald

Zanderman wrote: »

They've asked me what they should do about it - and I dunno! Any thoughts out there?

Well that's as simple as it gets. They had received the agreed £4K and they should return the second payment. It's not that they don't know who to return it to.

I am staggered that they, and you, don't know the answer.

Zanderman

Archi_Bald wrote: »

Well that's as simple as it gets. They had received the agreed £4K and they should return the second payment. It's not that they don't know who to return it to.

I am staggered that they, and you, don't know the answer.

Perhaps I could have been a little clearer and put a few more words in!

They understand (I think) that they can't keep the cash - but who has the initiative here? Should they point out (to the outfit who were grossly inefficient and breaking contractual obligations) that they have paid twice - in other words do their work for them.

Or should they put it into a Lloyds Vantage account or similar and see how long it takes the over-payer to notice? They are bound to notice eventually (I assume) - but should the recipients go out of their way to highlight the problem - as it isn't, primarily, their problem.

ETA - they have, of course, noticed the extra 4K, so can't 'pretend they haven't' but the buyer doesn't know that they have noticed, if you see what I mean. And they might only check the affected account every few months - some people are very shoddy at checking accounts (I never know why as it's so easy online).

So imagining a situation with them NOT noticing they have received the extra is credible, in which case them getting some interest on it and waiting until the other party notices seems to have some appeal. But is that morally acceptable? Or would it be simpler all round to just pay it back asap - and be free of the potential hassle?

UPDATE: Just had update from next door - they decided to pay the extra back last week, so ignore all the above!

iAMaLONDONER

Inactive wrote: »

Q; My bank have invited me in for an " Account Review ", what is this?

A; It is basically a sales pitch to flog you stuff that you probably don't want and can probably get cheaper/better elsewhere.

( Bank Staff will of course deny this ).;)

I had this 1 1/2 years ago when I turned 18 lol!

PBC

Many current accounts require a certain sum to be deposited each month in order to take advantage of the benefits they offer.

Would transferring money from the account to a pay pal balance, then back to the account work for this, or would that not work since the two accounts are linked?