wrong account credited

todaysteaser

Hi
In Oct 2006 a sum of money was transferred to my account, after a lot of searching and phone calls I found out where it came from, the company said they would forward me details by post of how I could return it, I never got them. I had asked how they got my account details and was told it was a mistake possibly by the person writing the account number down or the person giving the account details, I asked them to remove my account details details from their files and was assured it wouldn't happen again. It didn't until 2012 more money appeared in my account followed by another 2 payment in 2013, I sent a letter to the company in July 2013 telling them again of their mistake-I received no reply. I wont go into details but I had some very bad family news to deal with and finances where last thing on my mind but a further 5 payments appeared in my account in 2014 then another 1 this year. The money is all there in my account which I now wish to close as I am changing banks. I know this money is not mine and must be returned but my worry is will I be in any trouble for taking so long to return it. Has anyone had any experience in this or similar matters, Id hate to end up in court over it.
Thanks

pinkdalek

I wouldn't get too hung up on it, you have tried on your part to return it without response.

Hold the monies in a seperate account so it does not get mixed up with your own.

Are you switching your bank via the 7 day switching service? Only asking because should they send any more money in the next 13mths then it will turn up in your new account and they will get notified of the new account details.

DCFC79

You've contacted them to tell them of the error and nothing has clearly been done. Have you informed your bank of this ?

todaysteaser

Hi Pink
No Im closing the account totally I already have new account up and running.
Thanks

todaysteaser

Hi D
I rang the bank and seems as long as sort and account code match they don't check the name. I asked bank if they could block the money and just return it they said not would be up to the bank putting the money in to ask for it back. Not a very helpful bank, but I suppose they have their rules.
Thanks

xylophone

Do you have to close the account immediately?

I would be inclined to leave it open holding only the misapplied funds.

I would then write a letter to the bank manager explaining the history of misapplied credits and requesting him to write to the sending bank so that it in turn could contact its customer about the matter.

todaysteaser

I wanted to close the account to stop them transferring anymore funds.
My only real worry is I end up in trouble for taking so long to deal with the matter.
Thanks

Archi_Bald

Why would you be in trouble? It's not you who made the mistakes, and as you haven't as yet been asked to return the money, nobody can complain that you haven't acted. That is, if your account of the events is as you described.

jonesMUFCforever

The 2006 monies are now statute barred from being claimed back and IMO should be yours to keep.
What are your intentions with the rest because if you close the account you will need to transfer it somewhere?
If you know where the monies have come from can you not send them a cheque for the balance?

todaysteaser

Yep your probably right, I just worry to much. Somebody somewhere must be wondering where their money is, and why haven't they come looking for it.

todaysteaser

I will try the bank again and ask them if they can give me name of the bank, also try the company again and see how that goes.