What do i do..?

moneyMatter_2

Hello

I recently got a good deal on a £7K loan, to pay off a long-standing NatWest 'Business' £20K loan. Don't worry about the reason, but we are moving everything away from NW due to a series of mistakes...

I paid off the loan, over the phone, using my barclays debit card.
NW confirmed that the loan account has been closed.

Then.. ..NW put the full £7K back into my old NW current account!! Clearly by mistake.

I rang NW to confirm (again) that the loan account had ben closed - and it has. Paid off. Closed.

Is that money now mine..?

If / When they realise their mistake - can they just take it back?

What if I take the money out.. ..and spend it?

Advice and/or suggestions would be great.

Thanks.

[Deleted User]

If you take it and spend it, you're going to need to find £7k to pay them back when they come calling for it.

Contact them again to let them know what has happened.

Or failiing that, at least keep it available for the next 6 years.

poppasmurf_bewdley

An overdraft of £7k with NatWest could prove extremely expensive, which is what you will probably end up with if you spend or remove it from the account.

On the other hand, if you leave it where it is and keep quiet about it for a few years, you never know ...

Good luck!

Tiddlywinks

Now I think we all know the answer to who the money belongs to...

somethingcorporate

What does common sense here tell you moneyMatter?

Prothet_of_Doom

Open a side account, move it. Ignore it. DON'T spend it. Make sure you get interest on it. Let your grandchildren benefit when you are dead.

DCFC79

Tiddlywinks wrote: »

Now I think we all know the answer to who the money belongs to...

Can I answer that please ?

It belongs to the OP, yay I win, seriously it belongs to the bank as it sounds like its a mistake.

OP do you want less hassle from NW ? If you do then contact NW and arrange to pay the money back, if you like the hassle then keep the money. I know what I would do.

Mr_F_Dorsetty

DCFC79 wrote: »

Can I answer that please ?

It belongs to the OP, yay I win, seriously it belongs to the bank as it sounds like its a mistake.

OP do you want less hassle from NW ? If you do then contact NW and arrange to pay the money back, if you like the hassle then keep the money. I know what I would do.

Indeed... then it seems some people wonder why their life is nothing but constant hassle and aggravation.

I've read the OP's post a few times as I can't believe it is not a joke of some sort.

Myself, I was a debt collector at one point collecting from companies not individuals... but you wouldn't believe the sheer stupidity I've encountered.

As you have said to the OP and I'll reiterate - OP, do yourself a huge favour and just pay NW for pity's sake :doh:

Free_Spirit_31

So you want to leave Natwest for their previous mistakes and then you want to cash in on their mistake?

WOW

jonesMUFCforever

Relax peeps - did this really happen?
I will leave you to judge as OP has not as yet graced us with their presence to update us - will they ever??

runforlife

Did this happen? Maybe though unlikely. For the OP: Theft: When a person dishonestly appropriates property belonging to another.
Person? You
Dishonestly? No specific definition but what would a jury think of the actions of the individual. You know it isn't yours. There is no reason to believe it is.
Appropriates? Takes ownership. Yep. You've done that.
Property?: The money
Belonging to another? Natwest.

So the question is OP. Are you dishonest?