incorrect credit

jonesMUFCforever

pinkdalek wrote: »

So of course it would not be possible for Santander to have credited the funds incorrectly 2 years ago? My comment is how can an organisation which has admitted to funding an account in error suddenly expect to take it back in one go and not allow the OP to pay back in affordable instalments?

And just like other people have posted about the OP not saying something sooner, then here highlights the other side to the coin where not everyone checks their finances on a regular basis hence why the rightful customer has taken 2 years to discover their missing credit.

The OP hasn't admitted that they knew of the credit 2 years ago to their account either so why this common assumption to automatically have a go at them for not spotting it.

They came on for advice, mine was to close the account, go somewhere else and then Santander cannot just take it back, however due to the short time now involved it could be too late to do this.

The only comment that I can make is that I would be aware of an extra £600 and so would 99% of other people.
It seems that these boards have an awful lot of the other 1% as members!

Gromitt

pinkdalek wrote: »

They came on for advice, mine was to close the account, go somewhere else and then Santander cannot just take it back

Normally once a bank notice you owe them money, they don't allow you to just close the account. You'll need to pay the requested amount first, or leave the account open until they have taken the cash (which could put you into an unauthorised overdraft).

Of course, closing it before the bank noticed would have been an option, but naturally they'd still want it back (but if you had no products with them, they'd have to setup some kind of repayment plan).

I don't know many people who wouldn't notice an unexpected £600 credit in the account however, although I do know a few who would likely spend it and consider the consequences later (seemlingly, like the OP)

Agricolae

The customer is within their rights to refuse Santander permission to debit their account.

However, the bank would likely take legal recourse if this were to happen.

carolel

thanks for replies. No i dont check my account on a regular basis. The money was just swallowed up over a period of time. As i said never even new it had gone in. My main complaint was that santander wouldnt even talk to me about it except to say they would take it and if it put me in overdraft it would be sent to collections and i could then pay it back in instalements all the time incurring charges and putting a black mark on my credit rating which we have never had. Anyways santander have now taken the money still without my signature. We have been customers for almost 30 years but roll on next month when we close account.

Tabatha_Kitten

I guess the lesson to be learned here for anyone in future is:
if you notice some money go into your account which you know is not yours, dont spend it. Move it into the highest interest account you can find whilst you sit and wait for the bank to come looking for it.
Carolel, you could have had two years worth of interest on this for nothing instead of creating yourself a big problem !

[Deleted User]

jonesMUFCforever wrote: »

The only comment that I can make is that I would be aware of an extra £600 and so would 99% of other people.
It seems that these boards have an awful lot of the other 1% as members!

working in a bank myself, it is unbelievable the number of people who are not aware of the extra £1000's of pounds they have sitting in accounts!

Gromitt

I think I'd notice an extra 1p being deposited or withdrawn from my bank accounts as I copy each transaction into moneydance on a weekly basis which would flag up such a transaction. I find having a local copy of every transaction to be incredibly useful and makes me more productive overall.