Overpaid PPI

RavingMad

My father in law successfully claimed his PPI which were in 4 or 5 lots with the same bank. Having received 3 amounts over a couple of days, a month passed without any sign of the remaining monies owed.

He went into the bank and they sat him in a room where he could speak to someone over the phone who confirmed that he was still owed money and would deal with the matter. The next day, my FiL checked his account and it seems the bank has credited him with the money outstanding *and* one of the PPI's that has already been paid out previously! He spoke to 2 different people over the phone and neither could comprehend what he was trying to tell them!

The money is still in his account but I'm wondering if they'll ever notice this mistake? I've read enough in the papers/internet to know that the bank can claim this back whenever they like. My inlaws will never touch this money as it doesn't belong to them but it will play on their minds for the length of time that it sits in their account

Thanks

dunstonh

I'm wondering if they'll ever notice this mistake?

Some mistakes dont get found out but others do. Only time will tell.

I've read enough in the papers/internet to know that the bank can claim this back whenever they like.

As he knows it is a mistake and the money is not his, then that is correct.

but it will play on their minds for the length of time that it sits in their account

As is the case with honest people, they feel uncomfortable when things like this happen and the only way to ease that burden is tell the bank. It shouldnt be difficult to explain. i.e. We think we have been paid too much in redress as it appears one of the loan PPIs has been paid twice. Put it in writing. If the bank then respond saying the figure is correct, they keep the letter as evidence and they are free to use the money. Even if it turns out later that the bank was wrong.

RavingMad

Thanks dunstonh, I'll suggest that they write a letter to the bank.