savings account overdrawn?

gpduffy

i have a savings account with a bank and its gone overdrawn, as the bank has paid back money twice, its overdrawn by £2000 - they wrote me a letter today asking me to repay it -- can they actually make me do this, as technically I dont have an overdraft with them .. advice please

redcard

So who has the £2000?

gpduffy

I do
Feel bad .. should I pay it back though, can they make me

Archi_Bald

It is not yours. Why would you keep it? Do you fancy being taken to Court by the bank? And be blacklisted by them for life?

xylophone

should I pay it back

Yes

can they make me

http://www.theguardian.com/money/blog/2013/feb/09/bank-error-your-favour-spending-it-theft

colsten

gpduffy wrote: »

Feel bad ..

There's an easy way to make yourself feel good: pay it back. You will feel proper bad if you don't because the bank won't let you off the hook.

If you try to be smart by saying you spent the money because you thought it was yours, there are other means of making you pay, such as a CIFAS marker that will muck things up for you for a very very long time. You can avoid all this by just giving back what isn't rightfully yours.

eskbanker

gpduffy wrote: »

i have a savings account with a bank and its gone overdrawn, as the bank has paid back money twice, its overdrawn by £2000 - they wrote me a letter today asking me to repay it -- can they actually make me do this, as technically I dont have an overdraft with them .. advice please

I don't get all the references to overdraft/overdrawn - an account is overdrawn if there isn't enough money in it but you seem to be describing a situation where you have too much money in an account because of an error by someone. How does technically not having an overdraft facility affect this?

Not that it ultimately makes any difference - as said by previous posters, if you have money that isn't yours, give it back, end of.

Reaper

eskbanker wrote: »

I don't get all the references to overdraft/overdrawn - an account is overdrawn if there isn't enough money in it but you seem to be describing a situation where you have too much money in an account because of an error by someone. How does technically not having an overdraft facility affect this?

My reading of it is the OP withdrew the money but the bank made a mistake and paid out twice, meaning the savings account now has a negative balance which should never happen.

The OP is hoping some technicality about negative amounts in a savings account that should never have them means for some reason they don't need to pay it back. Wishful thinking I'm afraid.

BucksLady

I think it's a real concern that banks etc make such mistakes.

Thrugelmir

BucksLady wrote: »

I think it's a real concern that banks etc make such mistakes.

And you've never made a mistake yourself, ever?

BucksLady

Thrugelmir wrote: »

And you've never made a mistake yourself, ever?

No, not where money is concerned. Men, well that's a different story entirely