Payment received in error

chris9104

Last week I suddenly received £14k into my bank account, and have no idea why, and there was no reference on the payment.

I spoke to my bank, and they just weren't interested, the person I spoke to was actually shocked I was reporting it!

Anyway I got the sending bank details, and tried to make contact, turns out to be a loan company. This made me worry someone had stolen my details and was applying for things in my name, but my credit file shows everything is fine.

The loan company refuses to speak to me because I can't get through security, because obviously I have no account with them! Even tried going through their complaints dept, again they are refusing to deal with my complaint because I can't pass any security.

So what do i do? Obviously not spending it, but given how I have tried, how long can they claim it back for?

robatwork

chris9104 wrote: »

Last week I suddenly received £14k into my bank account, and have no idea why, and there was no reference on the payment.

So what do i do? Obviously not spending it, but given how I have tried, how long can they claim it back for?

Years. Put it somewhere (recommend a savings account with the same bank so they can see you've not hidden it) and don't spend it.
You've done what you needed to do, although it it were me I would write (a physical letter) to loan company AND bank to query it.

It will come out in the wash.

EachPenny

chris9104 wrote: »

I spoke to my bank, and they just weren't interested, the person I spoke to was actually shocked I was reporting it!
...
So what do i do? Obviously not spending it, but given how I have tried, how long can they claim it back for?

You need to contact your bank again and be quite insistent you want them to sort this out for you. It isn't your money and could land you in trouble if your account is being used by others for fraudulent purposes.

If the bank still aren't interested then ask to log a formal complaint.

And as a priority change your online banking security in case a fraudster has compromised it.

PixelPound

Write to your bank and the loan company, as you have already attempted, the written follow up shows a paper trail. As you couldn't pass the loan companies DPA it may be they have paid into the wrong account (typo either by applicant or the loan co), and it will correct itself. The call for changing security details is good just incase it is fraud and your account is being used as a mule account.

As to what to do in the meantime, don't withdraw and just wait. People have mentioned moving it to a savings account with the same bank - my Q with this is if the loan company reclaim the money would this then leave the OP with a large unauth O/D if the money is in a savings a/c?

stehouk

I'd have IT straight in a savings account until they reclaim it, you've done nothing wrong, you've reported it to bank and loan co, so just wait for them to sort it out and keep the interest earned.

Ballard

I suggest you contact your bank again and tell them that this isn’t your money and that they should debit your account and return the funds to the remitter immediately. Don’t take no for an answer.

It could simply be a mistake by someone or it could be a fraud attempt. Whichever it is make sure that you get your bank to return the funds.

EachPenny

stehouk wrote: »

I'd have IT straight in a savings account until they reclaim it, you've done nothing wrong, you've reported it to bank and loan co, so just wait for them to sort it out and keep the interest earned.

Which might earn you a few pounds of interest, but possibly leave you with no bank account and a Cifas marker if your bank eventually decide the payment was part of a fraud and your behaviour gives them the impression you were in on it. (remember, they don't need a reason to close your accounts).

Honest people don't keep £14k until someone asks for it back.... they insist their bank deals with it.

stehouk

Finders keepers.......losers weepers nah nah

EachPenny

stehouk wrote: »

Finders keepers.......losers weepers nah nah

Meanwhile, back in the grown-up real world....

Terry_Towelling

Was your bank really not interested? Will the loan company really not engage with you? - I can't see why because you aren't going to discuss anything confidential about one of their customers.

I feel certain that the loan company will want their money back, so you need to speak to them again and tell them you intend to return it by faster payment. Ask them to give you a reference to quote and just do it. You might also suggest making a small deduction to cover your telephone expenses.

Thrugelmir

Last week I suddenly received £14k into my bank account, and have no idea why, and there was no reference on the payment.

Who ever was expecting the money will complain soon enough. Give it a few days and the money will probably be recalled.