Random money transferred to my bank account

jacko_17

Hi,

I wasn't too sure which section to post this in, but here it goes anyway.....

I recently noticed a figure of around £2,000 put into my account that I wasn't expecting and certainly don't recognise where it's from (it's a random reference number). Now I've checked that this was not any wages or any other debt someone owed me that I've forgotten about. I contacted my bank to see if they knew what it was, but they just said it was a giro transfer.

I really don't know what to do. What are the legalities surrounding random money being put into your account? Is there a system in place for dealing with this type of thing? Is there a certain amount of time that I wait before I could actually claim this as mine!?!?

If anyone knows of the legalities of this or has experienced something similar I would be grateful to hear from you.

Thanks a lot.

Ballard

Legally you should never consider the funds to be yours. You should get back in contact with your bank and instruct them to debit your account and return the funds to the remitter. This mightn't be an easy task for them if it's a cash transaction over the counter but that's not your problem.

fusionx212

jacko_17 wrote: »

Hi,

I wasn't too sure which section to post this in, but here it goes anyway.....

I recently noticed a figure of around £2,000 put into my account that I wasn't expecting and certainly don't recognise where it's from (it's a random reference number). Now I've checked that this was not any wages or any other debt someone owed me that I've forgotten about. I contacted my bank to see if they knew what it was, but they just said it was a giro transfer.

I really don't know what to do. What are the legalities surrounding random money being put into your account? Is there a system in place for dealing with this type of thing? Is there a certain amount of time that I wait before I could actually claim this as mine!?!?

If anyone knows of the legalities of this or has experienced something similar I would be grateful to hear from you.

Thanks a lot.

Do not spend this money it's not yours, If you spend it you are liable to have the bank take the money back from you. they can also use legal means too. leave it where it is and report it.

keep telling the bank about it as this will likely be a banking error

bigadaj

Another point is that there are scams reported whereby you get contacted and asked to pay the money back, and when you do the apparent credit is removed from your account and you're down by the sum you've sent to them. Sounds like your example might be too long term for this but still something to be careful of.

Just ensure you keep records of informing your bank and I would repeat it a couple of times, and assume that it will get reallocated at some time.

Zola.

Stevie_Palimo

As I have said before on this subject and will say again for the OP :-

Turn this around and think about the fact that if £2000- went missing from your account you would spit your dummy out and throw your toys out of your pram, Now with this in mind you know the only thing to do is keep it to one side until the bank gives you notice of who it belongs to.

enjoyyourshoes

Hi

great at last I know where I mistakingly sent the money.

If you could transfer it back to me that would be ideal !

Contact the bank and don't spend it they will ably assist and make sure you keep contemporaneous notes of the conversations

SuperHan

I would throw it in as high an interest account as you can, and keep it there.


Any interest earned on it is yours, so you do benefit from the arrangement, but the money isn't and the bank may ask for it back at any time (I think they have up to 6 years)

MrJester

Don't pay the money back to anyone. Ask the bank to return the payment to where it came from, forget and move on.