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if a bank made an error in yr favour what to do?

i paid a cheque into my account for the same amount as i wrote on the paying in slip but was wrongly credited by the bank for a larger amount,what should i do?


  • Buttercup2305Buttercup2305 Forumite
    204 Posts
    Part of the Furniture Combo Breaker
    Tell the bank so they can rectify their mistake.
  • mcjordimcjordi Forumite
    4.2K Posts
    Part of the Furniture Combo Breaker
    its more than likely been corrected already when the total paid in doesnt match the money/cheques in the till so to speak..
    Sealed pot challenger # 10
    1v100 £15/300
  • IanMancIanManc Forumite
    2K Posts
    Part of the Furniture 1,000 Posts Combo Breaker Name Dropper
    You need to contact the bank as soon as possible to tell them that you've noticed that they've made a mistake, and ask them to put it right, if they haven't done already. You can't spend the extra as it would be theft, so the sooner it gets sorted out the better.
  • i work for a bank - and usually in these circumstances - they will try and get in contact with you and tell you they will be reversing the transaction - usually in 48hours of discovering the mistake
  • dunstonhdunstonh Forumite
    113.3K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    You have no legal entitlement to the amount paid in error. So, don't go spending it.

    If the error is at your end, it will usually occur at the other end as well. So, as soon as the other person spots the error, it will then get reported and corrected.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • If I remember rightly you collect £200, but do not pass GO ;)
    I was a DFW, now I'm a MFW :T
  • JaymoJaymo Forumite
    138 Posts
    mrteegee wrote: »
    i paid a cheque into my account for the same amount as i wrote on the paying in slip but was wrongly credited by the bank for a larger amount,what should i do?

    Contact your Banks customer service team so they can notify their back office/processing team in order to rectify the mistake.

    You legally have no ownership of the extra funds that have been mistakenly placed into your account and there is no time limit for when the Bank can request these funds back from you when they eventually notice the mistake.

    At one point or another, the Bank is going to carry out audits on their IPA accounts and if there is a slight difference, they investigate to locate the funds.

    Once this happens they'll then write/e-mail you to notify you that they will debit your account for the extra funds within 14 days.

    Save yourself a lot of hassle and contact the Bank to let them know of their mistake and then while your at it you can ask to be given a gesture of good will to cover the cost of the call and for informing them of their error if you want.

    Most Banks will pay out £5/£10 as a thank you but you will have to ask for it.

    Merry Xmas
  • Dicky2KDicky2K Forumite
    495 Posts
    Am i right in thinking .. or did i dream it, That you can withdraw the money/spend it and do what you wish, but the bank have.. i think 7 years to ask for it back..? I remember reading somwhere that someone had a large mistaken pay, and the just put it in an ISA for 7 years until it was too late..?

    Almost..debt free.. :P:money:
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