Payment received in error

deadendwaterfall

m4tthall wrote: »

I verified the number was correct through the Barclays website before contacting them back.

Samsung_Note2 wrote: »

From experience id have to disagree.

And banks can be quite shocking in not giving a monkeys when you tell them you have money that shouldn't be in your account.

OP keep the money in a high interest account and simply pay back when asked.;);)

All this "You will go straight to prison...you will be Buba"s toy and you will burn in hell"" doesn't happen,the police are not involved..its not theft...lol

Been there and know exactly what happens.

I would have thought that any interest earnt from the wrongful credit before returning the money would have to be given up as you gained from something that wasn't yours?

Samsung_Note2

deadendwaterfall wrote: »

I would have thought that any interest earnt from the wrongful credit before returning the money would have to be given up as you gained from something that wasn't yours?

That would make sense wouldn't it...but this is banks after all and no you get to keep the interest.

Funny thing regards receiving money,people straight away state its theft,fraud,money by deception etc etc..its not and i know that through personal experience.

In fact in my case the company who made multiple payments (these were in the thousands per deposit) requested the bank to not allow any further payments to be made,the bank ignored that and made a further two over a six month period.

Bank couldn't divulge our details to the company paying money in without our or my permission...obviously i did the right thing and resolved it,but wasn't as simple as they demand the money back and you pay in one lump...you have the option of paying back in instalments,as long as you didn't request or some how apply for the money you can dictate how its repayed,as long as you repay and stick to it.

stehouk

EachPenny wrote: »

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

Seems my idea of moving the money to one of the banks savings accounts to keep it safe until it was reclaimed was the honest thing to do, and you were wrong to mock me.nah nah :rotfl:

stehouk

europaea wrote: »

Do you have a second bank account? If not, perhaps it's a good idea to quickly open one, and transfer your own money to it, only leave the 14k in your existing bank account until this is sorted. This is just a safety measure until the mystery is solved, and in case your bank decides to freeze or close your account.

Not sure about that one, if they have direct debits and payments coming out of the account this will be payed from the 14k and that wouldn't look good.

Ergates

stehouk wrote: »

Not sure about that one, if they have direct debits and payments coming out of the account this will be payed from the 14k and that wouldn't look good.

Could maybe threaten to do this to get the bank to take the issue seriously.

Samsung_Note2

europaea wrote: »

Do you have a second bank account? If not, perhaps it's a good idea to quickly open one, and transfer your own money to it, only leave the 14k in your existing bank account until this is sorted. This is just a safety measure until the mystery is solved, and in case your bank decides to freeze or close your account.

Why would they..if the OP has not claimed it or made any fraudulent application,they have done nothing wrong and have nothing to worry about.

EachPenny

stehouk wrote: »

Seems my idea of moving the money to one of the banks savings accounts to keep it safe until it was reclaimed was the honest thing to do, and you were wrong to mock me.nah nah :rotfl:

I'm not going to get into a protracted argument with Samsung_Note2 - nobody was saying the OP "...will go straight to prison...you will be Buba"s toy and you will burn in hell...".

But what people are saying - based on the pleas for help often posted on this forum - is that banks have a nasty habit of withdrawing banking facilities for the flimsiest of reasons if there is any suspicion the account holder might be involved in anything dodgy.

In that context, "moving the money to one of the banks savings accounts to keep it safe" could be seen as "dodgy" (not illegal, not theft, not fraud, not going to make you the devil's plaything). But is it the behaviour of a 'normal' person in that situation?

Moving the money into a savings account doesn't make it "safe". If there is some kind of fraud going on then the fraudster may have access to the OP's online banking and could simply transfer the money back out of the savings account. That is why changing online banking security should be the OP's first priority, not figuring out a cunning plan to scam a few pounds of interest off someone else's money.

Also, if the OP starts moving the money around there is a risk of them making an error in the process. Say they enter the wrong account number for making a payment and send the money to another complete stranger who in turn decides to hold on for the money as long as they can. What does the OP say to his bank when they ask him where the £14k has gone?

The risk of making an error is small if you do a internal transfer to a savings account (as implied in your post), but can you please advise which bank offering current accounts is paying more than a pittance on an easy access savings account on a balance of £14k? Nationwide's Loyalty Saver is about the only one that springs to mind, which at 1.1% would generate the OP £2.96 per week in interest - assuming by an amazing fluke the OP has a Nationwide account, has been a customer for 15+ years and a loan company has randomly chosen the OP's Nationwide account to incorrectly make a payment to. All that work for less than £3 per week - for what may turn out to only be a few days benefit from the money.

So to sum up. The OP could 'win' up to £3 per week, or risk losing someone else's £14k and having to refund it out of their own pocket, or risk having their banking facilities withdrawn and deal with the hassle of finding a new bank and switching everything over.

So what do you think the sensible thing to do really is?
....go "nah nah nah" again?

EachPenny

Samsung_Note2 wrote: »

Why would they..if the OP has not claimed it or made any fraudulent application,they have done nothing wrong and have nothing to worry about.

Lots of people come to this forum after finding out their current account has been frozen or closed. In many cases they too "have done nothing wrong".

I don't remember you advising them that "they have nothing to worry about".

But the previous advice stands. All the OP needs to do is to change their online banking security and then get on to their bank about getting the money removed from their account asap.

Samsung_Note2

EachPenny wrote: »

Lots of people come to this forum after finding out their current account has been frozen or closed. In many cases they too "have done nothing wrong".

I don't remember you advising them that "they have nothing to worry about".

But the previous advice stands. All the OP needs to do is to change their online banking security and then get on to their bank about getting the money removed from their account asap.

Get onto the bank about getting money removed...removed to where,your bank..my bank..mr Higgy who lives down the road.

Bank will probably say just as they did to me/us that its between us and the sender...ok so you manually send it back to the account it came from,who says that its gone back to the correct person..?

Seriously easy to say you should do XYZ...try doing XYZ and find out how hard that can be.:T

Can only talk from experience...obviously hypothetical examples are much more fun.

stehouk

Samsung_Note2 wrote: »

Get onto the bank about getting money removed...removed to where,your bank..my bank..mr Higgy who lives down the road.

Bank will probably say just as they did to me/us that its between us and the sender...ok so you manually send it back to the account it came from,who says that its gone back to the correct person..?

Seriously easy to say you should do XYZ...try doing XYZ and find out how hard that can be.:T

Can only talk from experience...obviously hypothetical examples are much more fun.

:T:j you've done it now, i got a page for 2 nah nah's this has gotta be worth 3 pages :rotfl::rotfl::rotfl: