Bank Error

geraniumshaker

Morning - I'm new to this forum, I'm hoping someone can offer me some advice!

My bank have made an error, and on the 1st of June when I paid money into my business account, they also paid the same amount into my personal account. I didn't notice that this had happened, until yesterday (16th July) when, without warning they took the money back from my business account, as there wasn't enough funds in my personal account which is where they made the error. It is over £300 and has now left me in financial difficulty in terms of paying rent etc. I rang the bank and they said that this happened in branch, and the person apologised saying they shouldn't have taken it without telling me first....

I suppose what I would like to know before going in all guns blazing is: Does this sound like a serious error, paying into an account that I hadn't asked them to? Should it have taken them so long to between the error and rectifying it? Are they allowed to dip in to another account and take money without informing me first? Do I have a leg to stand on or is this a 'grin and bear it' situation?

Goldiegirl

What's happened to the additional £300 that they paid into your personal account.

If you didn't know it was there, then it should be still in there, unless you've overspent, in which case you'd be overdrawn anyway

geraniumshaker

I had recently paid my salary into that personal account so it just became part of that amount and I didn't notice the extra...stupid mistake I know. If I had, I would have paid it straight back or been more sensible with my spending - I definitely wouldn't have spent it which it now appears I have....

Zanderman

You appear to be saying you were incorrectly credited with an extra £300 or more. Then you overspent on the account with that extra money. And now the bank are using the correct money, or part of it, to cover the overspend.

That's a mess-up, but it's as much your fault as the bank's.

You seem to be saying you spent the money you shouldn't have had and the bank have adjusted for this.

Could you clarify exactly what happened please!

geraniumshaker

Yeah that's pretty much it...

I have recently had fraudulent activity on my business account, so I was checking my statement yesterday and saw that £300 had been debited from my account. I thought it could be more fraud, so rang the bank. This was the FIRST I heard of the overpayment from the 1st of June. I was completely unaware there had been any error until they took it back. If they had informed me sooner after it had happened, then I wouldn't have spent the money. I realise it was foolish not to notice an extra £300 in my account, but I really didn't!!

Goldiegirl

Well, the bank made a mistake, but you have as well.

There's no point in going in with 'all guns blazing' as

A) you are in the wrong yourself

nobody wants to go out of their way to help a stroppy, unreasonable customer.

The best you can do is politely point out that the mistake was theirs originally, and hope they'll give you a small goodwill payment. But don!t see ££ signs in front of your eyes - up to £25 would be the max, in my opinion.

Zanderman

geraniumshaker wrote: »

Yeah that's pretty much it...

I have recently had fraudulent activity on my business account, so I was checking my statement yesterday and saw that £300 had been debited from my account. I thought it could be more fraud, so rang the bank. This was the FIRST I heard of the overpayment from the 1st of June. I was completely unaware there had been any error until they took it back. If they had informed me sooner after it had happened, then I wouldn't have spent the money. I realise it was foolish not to notice an extra £300 in my account, but I really didn't!!

Well, there was a bank error in paying in twice, and then moving the overpay from one account to the other without telling you.

But I don't think you should really be thinking of grumbling too much - as you spent the extra money! At the end of the day it's your responsibility to know how much you have to spend.

If you'd noticed before spending it then there would be definitely cause for complaint - but I'm not sure they would be entirely sympathetic as you spent it first and asked questions afterwards.

geraniumshaker

Thanks for your advice!

The 'all guns blazing' was just a figure of speech, I don't feel particularly stroppy or unreasonable about it, just trying to figure out my rights! I'd happily pay £25 not to have to speak to my bank as they are so useless, so I think I'll leave this one as a lessons learnt to check my statements more thoroughly!!

geraniumshaker

Thanks Zanderman, yeah I think you're right - as I say I need to be more thorough in checking my statements each month!

colsten

geraniumshaker wrote: »

I'd happily pay £25 not to have to speak to my bank as they are so useless

If you feel your bank are useless, why not take the opportunity and switch to somewhere else? Several banks are paying between £100 and £150 if your switch a current account.

No bank will assume the responsibility for your money though - you have to get better at that yourself.

mgdavid

geraniumshaker wrote: »

Thanks Zanderman, yeah I think you're right - as I say I need to be more thorough in checking my statements each month!

Surely you'd be better to check recent transactions on both accounts online at least weekly if not more often. Many people look at their account daily, I do mine twice a week.