Bank has refunded me overdraft charges in error.

PsiDOC

Hi all.
Bit of a small dilemma here. Had a letter yesterday from my back saying that they had refunded me overdraft charges to the tune of £38 and £4 odd interest on my savings account. On checking the account yes the refund is there however I have looked all the way back to when the account was opened I can see there has never been any charges made on that account for anything.
Should I contact them and inform them of their mistake or will they realise it and sort it out themselves?

Thanks
Psi

withabix

Have they actually refunded you anything?

If you can afford to not spend the money, just leave it there and see if they ask for it back.

pqrdef

Isn't there a Monopoly card that says "Bank error in your favour"? I think you just take the money and use it. There's no rule that says the banker can lean over and grab it back.

In real life though, if they realise their mistake they'll just dip in.

pinkdalek

pqrdef wrote: »

Isn't there a Monopoly card that says "Bank error in your favour"?.

LOL - there's also one that says Speeding Fine £15 - how times have changed!

Back to the OP, which bank is it? If it is RBS/Nat West is it from their clitch back in June this year?
It's up to you if you speak to the bank, you could claim ignorance and just assume you thought it was genuine should they contact you back. If it is a genuine error though they are quite within their rights to claim it back.

Gromitt

Personally, I'd just leave it there, not go out of my way to report it and if they take it back, so be it. Just don't spend it.

bengal-stripe

PsiDOC wrote: »

......Had a letter yesterday from my back saying that they had refunded me overdraft charges to the tune of £38 and £4 odd interest on my savings account.

A savings account with overdraft facilities? - "Curiouser and curiouser!" cried Alice.

PsiDOC

My sentiments exactly bengal-stripe. I certainly have never asked for overdraft facilities on that account. I didn't think it was possible to overdraw a savings account. It is a savings account that I set up a few years ago to pop any extra cash in thats left in the current account at the end of the month and it gets used as a rainy day fund.
The general opinion is let it sit and see if they want it back. So I think that's what I'll do.
Cheers all.

PsiDOC

chambta

bengal-stripe wrote: »

A savings account with overdraft facilities? - "Curiouser and curiouser!" cried Alice.

On the account in question d/ds and standing orders could be set up, plus a cheque book ordered. It used to be £38, at the highest, for bounced payments.

Historic charges have been refunded for some reason.

Paul_Varjak

Highly unlikely that a bank would just refund charges without the account holder asking. So, the most likely scenario is, that someone with a similar name and/or account number to you challenged their charges and your account (rather than theirs) was refunded in error.

The bank will most likely will realise their mistake when that other account holder says 'where is my refund?' At that point, the bank will be taking their monies back - which they will be entitled to.

innovate

PsiDOC wrote: »

.....to the tune of £38 and £4 odd interest on my savings account.

Just ask them to confirm that it is your money and not some error. If it is an error, pay back what isn't yours.

chambta

Paul_Varjak wrote: »

Highly unlikely that a bank would just refund charges without the account holder asking. So, the most likely scenario is, that someone with a similar name and/or account number to you challenged their charges and your account (rather than theirs) was refunded in error.

The bank will most likely will realise their mistake when that other account holder says 'where is my refund?' At that point, the bank will be taking their monies back - which they will be entitled to.

Did you not read my post?

All charges made on these accounts have been refunded.