Wierd Deposit, Advice Please

sticks123

A deposit noted only as 'Credit.' was made yesterday in my joint account for £598.43. I'm definately not expecting any money from anywhere and the Co-Op cannot see who has sent it.

So at the moment I am non the wiser on where the money has come from but it has caused me some concern. I have called the bank as i was worried that someone had access to my account (not sure why they'd make a deposit tho lol!)

I know I'm reaching but has this happened to anyone before?
Also, if it has been some kind of error and been paid to me rather than someone else how long would I have to give them to reclaim it?

Any advice about his would be much appreciated.

DevCoder

If the money wasn't meant for you then there isn't really a time limit on how long they have to claim it back. Unfortunately it's not like lost and found with the local police station for some money you found in the street.

preable

I would leave it in your account as it couldbe reclaimed at any time. But on the other hand it could have been somthing you brought beeing refunded ect

agrinnall

You'll probably have to wait a day or 2 until the payment has cleared before you can see more details about the payer. If that doesn't ring any bells then it's most likely that they have entered your account number by mistake instead of the intended payee. I'd leave the money where it is for now as it may disappear automatically; alternatively your bank may contact you to ask if it's OK to recover it.

innovate

If it's still there this time next week, put it into a savings account for a year or so and see whether anyone wants it back. If nbody claims it after a year, I'd consider it mine if I were you.

jonesMUFCforever

innovate wrote: »

If it's still there this time next week, put it into a savings account for a year or so and see whether anyone wants it back. If nbody claims it after a year, I'd consider it mine if I were you.

They have 6 years to claim it back.

innovate

jonesMUFCforever wrote: »

They have 6 years to claim it back.

You got any link for the supporting law / regulation?

xylophone

Co-Op cannot see who has sent it.

But presumably they could find out?

trikidy

Maybe an accumulation of membership points?

JuicyJesus

trikidy wrote: »

Maybe an accumulation of membership points?

You would have to have a seriously intensive customer relationship with the Co-op to earn £600. You'd have to have spent about £60,000 in Co-op shops over 6 months to earn that many.

Miss_Havisham

xylophone wrote: »

But presumably they could find out?

Yes, all payments are traceable but your branch might not have full access to their payment/accounting systems (understandable) and they might not know which dept does (not so understandable).