Money Appeared in Account

Ljc80_2

I have had over a grand sitting in our account for over 2 1/2 years.

We sold a car on gumtree and the couple who bought it transferred the money. When they did this they got a message of some sort saying it failed to send and the next day did it again. But both times it came through.

We checked with them and there account is correct, the first payment had been credited back.

We checked with our bank today and they looked back and had never received a recall so from there point of view the account is correct.

Question is, we checked with the couple who bought the car, and our bank and both are happy. It's been 2 1/2 years so what should we do, just sit on the money or assume it won't be chased up?

[Deleted User]

Not sure what else you can practically do, even though you know what's happened. The checks you've made with your bank - is there a record (emails for instance)?

PasturesNew

If the couple are happy - and the bank are happy - wait a clear 6 years from when you received it before you spend it.

It sounds like you'll get to keep it, but as you'd have not had it anyway it won't hurt to wait the length of time it could be before the bank "discover" their mistake and want it back.

I'm sure the couple are happy as they said so.

Unfortunately banks can't be trusted ... and even though they say it's OK now, that's not to say they won't do an audit in 3 years' time and discover it and want it back immediately.

6 years.... that's all. After all, it's "free money" .... so just wait until you are "safe".

Ljc80_2

I have an email from the couple which they even showed a copy of their bank statement in.

I only called my bank so don't have any record of that.

Ljc80_2

What about putting it in a higher interest account for the next 4 years? (6 years in total)

Shakin_Steve

If it's annoying you just sitting there, send it to me and I will mind it for you.

agrinnall

You certainly don't need to leave it where it is, unless that is the best place for it. After 2 1/2 years I cannot see that the money can be just taken back without informing you first. You can't definitively say it's yours until the 6 years are up (in fact, you can't say it then, it's just that there is no legal route for it to be taken at that point) but you can make it work for you for the next 3 1/2 years.

d70cw6

get a switch account bonus of £150 ish and then open a linked regular saver imo.