TESCO BANk - Want there money back Help!

marciar71

Can anyone offer advice

I had a Tescos internet savings account, last year in June 2011, I needed to make a withdrawl went online and the Tesco's sysytem had crashed, this made all the papers and tv, I eventually got through on the telephone and asked if they could transfer the money(£2000) to my bank account and it arrived the next day, because of all the trouble at that time I said shut the account as it was no use to me if I could'nt get hold of my money. They paid the rest of my savings into my bank account 3 weeks later.
Yesterday I got a phone call saying that I owed them £1800 because when they made the final payment to shut the account they didn't take that transfer out !!!
So now they want their money back, I never noticed because I couldn't get online and stupidly thought they would deduct it. Don't know why they only want £1800, they told me not to worry :mad: and they would write to me.
Any advice please

Onawingandaprayer

Hmm. Don't think you have much of a case for holding onto it (sorry!) but wait and see what the letter says and ask for a clear statement of money in and money out. If it tallies with what you think, I think you'll have to stump up.

Every little helps. not

dunstonh

You didnt notice the extra money? Your financial management cant be very good. What would happen if someone took an extra £1800 off you. Would you notice that?

They have every right to have their money back. You have no entitlement to it. However, if you cannot afford it (which is unlikely given that you dont even notice the extra £1800) then you can come to agreement to repay them over a period. Typically 12 months. They cannot insist you pay it in one lump if you are unable to pay it.

marciar71

To dunstonh

Really sorry but my financial management isn't bad, never had an overdraft, pay off credit cards every month and pay all my bills,
What happened this time was there was a family bereavement this money had been from that estate, it had taken days to get the £2000 to pay a large bill and as I work 2 jobs and have two children life went on, I was relieved the money was there and thought I would check it later and then school holidays happened.
How comes the bank didn't notice and their computer system screwed up. The money that was saved has now gone into a loft conversion.
Could really do without being told I owe £1800 a month before Xmas and savings are low ! We all have times when things happen but never saw this one coming, very rare for a bank to give you anything!

johnmoney05

Just check the final statement and if they are correct, just pay them back. Why you want to argue £1800 which even not your money at the first place?

Well, at least you have your own roof over you, I don't even have my own house! Talking about tough time?!

thatsean

With respect, running an #1800 margin of error is pretty poor on a budget.

It wasn't your money. You spent it. You'll have to agree an arrangement to pay it back if you can't do it in one go.
Fair enough you expected the bank to get it right, but they made an error, ultimately, it's money you weren't entitled to.

evenasus

Occasionally, a bank or a customer, make a transfer of money to the wrong account number.

The wrong receiving account holder cannot legally keep that money.

Sorry but you have no alternative but to give Tesco their money back.

N1AK

marciar71 wrote: »

Really sorry but my financial management isn't bad, never had an overdraft,

You either knew they had given you the money twice or you didn't. If you didn't then your financial management is bad (you didn't notice that your finances were off by £1800!) and if you did then you should have told them.

If you are going to struggle to pay it back in one go then you will need to talk to Tesco about repaying it gradually, however you won't be able to avoid paying it back eventually.

Vortigern

Ignore all those judgmental comments. The key item, as suggested by dunstonh, is that you can ask to pay it back by instalments.

Offer them £5/week. Tell them "Every little helps"

johnmoney05

Vortigern wrote: »

Ignore all those judgmental comments. The key item, as suggested by dunstonh, is that you can ask to pay it back by instalments.

Offer them £5/week. Tell them "Every little helps"

Ignore all above!

Offer them nothing. Tell them "Every little helps"

JuicyJesus

Vortigern wrote: »

Ignore all those judgmental comments. The key item, as suggested by dunstonh, is that you can ask to pay it back by instalments.

Offer them £5/week. Tell them "Every little helps"

Ignore these idiotic comments. They will laugh at you and just take you to court if you don't come to an arrangement.