Unsolicited financial gift from former Credit card company

Twincarb

I am in the strange position of having received what's best described as a gift from a former credit card company, the company in question has transferred a sum of money (under £1000) into my current account with a different provider.
The company concerned is an app only provider which used to be free and then started charging, at which point I paid off my balance and cancelled the card. When I logged onto the app a check of the details they hold shows they don't hold my current account details nor do they show any details about the former card I held with them. I have spoken to my current account bank and they were able to provide me with the sort code of the depositor which ties up to the credit card company.
I am not sure what I should do in this situation, morally or legally with a cautionary view that its possibly part of a scam (The credit card company is a reputable one). At the moment it is sat in my current account. Hopefully the community will be able to provide some guidance.

[Deleted User]

It won't be a gift. 

You need to ask them what the transaction relates to. Generally, it will be a refund or charges or other correction, or an error.

bradders1983

So you think a "reputable" credit card company is scamming you by sending you a grand? 🤔

Sandtree

I think at the moment you are being optimistic in considering it a gift rather than an error.

Personally I'd be speaking to the credit card company to find out whats going, clearly what the app is showing is a limited view as unless you closed the account over 6 years ago they absolutely will still be holding details of the former card. There is a variety of things that in theory could have happened but they are the only ones that will know what has happened.

Alternatively you can sit pretty on the money, it would be an offence not to give it back if asked (so make sure you can) but generally you have no obligation to go looking for answers.

bradders1983

Someone probably given the wrong details when doing a balance transfer and they gave yours by mistake. 

Twincarb

Deleted_User said:

It won't be a gift. 

Why wouldn't it I a was a good customer and paid my credit card off each month and on time. Just because credit card companies haven't given gifts in the past there has to be a first for everything.

Deleted_User said:

You need to ask them what the transaction relates to. Generally, it will be a refund or charges or other correction, or an error.

I don't like to make unsolicited calls unless I am chasing money owed. plus I checked my statements each month to check for errors.

bradders1983 said:

So you think a "reputable" credit card company is scamming you by sending you a grand? 🤔

Not suggesting that of the credit card company but as an unsolicited payment into my current account.

Sandtree said:

I think at the moment you are being optimistic in considering it a gift rather than an error.

I can't decide if your saying speak to them or not to speak to them...

Sandtree said:

Personally I'd be speaking to the credit card company to find out whats going, clearly what the app is showing is a limited view as unless you closed the account over 6 years ago they absolutely will still be holding details of the former card. There is a variety of things that in theory could have happened but they are the only ones that will know what has happened.
Alternatively you can sit pretty on the money, it would be an offence not to give it back if asked (so make sure you can) but generally you have no obligation to go looking for answers.

I think I prefer not to speak to them.
I am happy to keep the "gift" safe and don't plan to spend it if it isn't an offence and I am not required to .

bradders1983 said:

Someone probably given the wrong details when doing a balance transfer and they gave yours by mistake. 

I can rule out a balance transfer as they don't offer that option at all.

Sandtree

Twincarb said:
I can't decide if your saying speak to them or not to speak to them... 

I am saying its your choice, and as per the second part of what you quoted, I personally would speak to them as I'd prefer to get to the bottom of what the "gift" is and enjoy it if thats what it really is. There is the risk its something else and whilst not showing in your app that you now have a £1,000 debt accruing interest at a much higher rate than the interest you are gaining on the £1,000 sat in your account.  It is likely it would all get resolved in time but for the sake of a call/email I'd avoid the issue and debate in the first place.

[Deleted User]

Twincarb said:

Deleted_User said:

It won't be a gift. 

Why wouldn't it I a was a good customer and paid my credit card off each month and on time. Just because credit card companies haven't given gifts in the past there has to be a first for everything. 

Ah yes.  I forgot about that business model.

Make a very little money from a customer and send them a grand out of the blue. 

That'll be it.

Twincarb

That opens the question of legally am I obliged to speak to them, and if so if I would then be liable for any interest that they wanted to apply if I didn't.

femalemonarchfemalecanine

Twincarb said:

That opens the question of legally am I obliged to speak to them, and if so if I would then be liable for any interest that they wanted to apply if I didn't

do you want someone to tell you that it's ok to keep this money? because it isn't, so get in touch and find out what has happened. It's probably someone else's money, and who knows what a pickle you might be putting them in. Depends if you have any scruples I suppose.

born_again

Twincarb said:

I am not sure what I should do in this situation, morally or legally with a cautionary view that its possibly part of a scam (The credit card company is a reputable one). At the moment it is sat in my current account. Hopefully the community will be able to provide some guidance.

Why ask for guidance, then dismiss it out of hand.
Ring them on a number you have sourced and know is theirs and ask....

I can think of a couple of reasons why and these are legitimate. But it's not worth posting them.