Over payment from foreign exchange company

born_again

simandom said:

Hello all, I'm seeking advice here.

My niece has just turned 20 and for her birthday she has gone to New York for 2 weeks. For her birthday i wanted to give her some spending money so placed an order with a local company for £200. I asked for £150 in $1 and the rest in $5.
When i went to collect it, it was placed in a see through plastic bag and I wet straight to the post office to get an big enough envelope to put it in. Then wrote Happy Birthday on the front.

I then picked up my niece and took her to the airport, just before she left to walk into the Airport i gave her the envelope and said that this is to get yourself something or treat yourself while away. She did not open it there and then and walked into the airport to check in.

I then continued to drive home and on sitting behind my desk I found that I had 2 missed calls and an answerphone message asking me to ring the branch I got the exchange from.

Here is where my mouth hit the ground!!!

On speaking to the branch manager, she explained that they had over paid me by $900 and that they wanted me to return it straight away. I explained to them all of the above and that i had no reason to count the money after it had been given to me.
The fact that i had asked for $150 in $1 notes meant that i was expecting a rather large wad of money any way, so i had no reason to doubt or check it was correct. (may i just add the the teller did count the money in front of me but after i got past the fist $70 in $1, i lost interest and started looking and the holiday magazines). I informed them that i will message my niece and ask her not to spend all of the money even though it makes me look bad after gifting it to her.

Fast forward to the next morning

I woke up to find a response form my Niece saying that she had already put the money towards a camera she got as soon as she arrived. My niece is a very keen photographer and was looking to get a new camera prior to going but said that she would hold out until there. 

Now i straight away explained this to the currency exchange and said that i feel a bit upset that due to their mistake, this has all happened. I stated that i will struggle to pay that back as i have not financially planned for it.

There response was to say

 There may be a chance that your niece could return the camera, thereby retrieving the money to give back to you upon her return to the UK.  In order to give you time to make some arrangements, I would ask that you please ensure the money, to the amount of US$900 is back in the Ringwood branch by no later than 4pm, Friday 6 December 2024. 

I am going to be honest there is no chance i am going to ask her to return the camera and will not be able to pay back the full amount within those time scales without taking a loan which will have a negative effect on my credit score which I do not wish to do for obvious reasons

Please give me any advice, I am on a low salary with a expensive mortgage topped with the price of living and Christmas coming 

   

Your credit score is a meaningless figure that CRA promote. Lenders never see it.

Your issue here is that you owe them the money, as you can not prove they did not give you it by checking the amount.. 
What if it had been short, given you no longer checked after $70
So that means they must have switched to $10 & $20 to get $900 extra.

You need to get your niece to confirm the amount.

End of the day while it is their error, you do owe them the money.

Belenus

I find this story very hard to believe. It is the fourth tall tale I have seen today from a newly registered user.

Oh well, we are supposed to be nice to everyone so I will respond as if it were true.

I then picked up my niece and took her to the airport, just before she left to walk into the Airport i gave her the envelope and said that this is to get yourself something or treat yourself while away. She did not open it there and then and walked into the airport to check in.

Your 20 year old niece needs to learn that she should never accept a package from anyone, even a trusted relative, without knowing what was inside.

How did she know that the envelope did not contain Class A drugs?

Aylesbury_Duck

Seems pretty obvious that in a fictional scenario, you are still liable for a fictional debt.

screech_78

Don’t believe a word of this story. 

Who gives their niece £200 for their 20th (so not a special birthday) birthday when they’re so financially constrained? 

sheramber

I find it hard to believe anybody would not check that what they were being given was correct., especially for a large sum. 
You could have been given less than you paid for and would have been none the wiser.

I hope your  niece realises she will have to pay import duty and VAT on the camera when she returns to the UK.

Arunmor

Smells like teen spirit!  Best not say anymore.

simandom

la531983 said:

Aye, a 20 year old waiting until getting all the way to the hotel before attempting to get wifi or mobile signal, people that age have their phones welded to their hands, surely the airport has Wifi. Or even the shop where she went and spent 900 dollars between the airport and the hotel, had all her luggage in the shop with her?

Something isnt right here.

i do not think it is unusual, it would have been ridiculously expensive to use her data and roaming. I have not asked her but I believe she got the camera at the airport as I have done previously when i went to Australia in my youth

simandom

eskbanker said:

lincroft1710 said:

Ergates said:

How does someone who works all day in a currency exchange miscount by $900?

Even when I've exchanged £100 into Euros before they've double counted it.

It sounds as if instead of giving out 100 x $1 bills, they gave out 100 x $10 bills

OP claims to have seen 70 $1 bills being counted out - having said that, the lack of size or colour differentiation between denominations of dollar bills must increase the risk of that sort of thing happening....

eskbanker said:

lincroft1710 said:

Ergates said:

How does someone who works all day in a currency exchange miscount by $900?

Even when I've exchanged £100 into Euros before they've double counted it.

It sounds as if instead of giving out 100 x $1 bills, they gave out 100 x $10 bills

OP claims to have seen 70 $1 bills being counted out - having said that, the lack of size or colour differentiation between denominations of dollar bills must increase the risk of that sort of thing happening....

eskbanker said:

lincroft1710 said:

Ergates said:

How does someone who works all day in a currency exchange miscount by $900?

Even when I've exchanged £100 into Euros before they've double counted it.

It sounds as if instead of giving out 100 x $1 bills, they gave out 100 x $10 bills

OP claims to have seen 70 $1 bills being counted out - having said that, the lack of size or colour differentiation between denominations of dollar bills must increase the risk of that sort of thing happening....

eskbanker said:

lincroft1710 said:

Ergates said:

How does someone who works all day in a currency exchange miscount by $900?

Even when I've exchanged £100 into Euros before they've double counted it.

It sounds as if instead of giving out 100 x $1 bills, they gave out 100 x $10 bills

OP claims to have seen 70 $1 bills being counted out - having said that, the lack of size or colour differentiation between denominations of dollar bills must increase the risk of that sort of thing happening....

lincroft1710 said:

eskbanker said:

lincroft1710 said:

Ergates said:

How does someone who works all day in a currency exchange miscount by $900?

Even when I've exchanged £100 into Euros before they've double counted it.

It sounds as if instead of giving out 100 x $1 bills, they gave out 100 x $10 bills

OP claims to have seen 70 $1 bills being counted out - having said that, the lack of size or colour differentiation between denominations of dollar bills must increase the risk of that sort of thing happening....

That is the trouble with US money, but other than as I have suggested I can't see how the $900 overpayment happened.

lincroft1710 said:

eskbanker said:

lincroft1710 said:

Ergates said:

How does someone who works all day in a currency exchange miscount by $900?

Even when I've exchanged £100 into Euros before they've double counted it.

It sounds as if instead of giving out 100 x $1 bills, they gave out 100 x $10 bills

OP claims to have seen 70 $1 bills being counted out - having said that, the lack of size or colour differentiation between denominations of dollar bills must increase the risk of that sort of thing happening....

That is the trouble with US money, but other than as I have suggested I can't see how the $900 overpayment happened.

lincroft1710 said:

Ergates said:

How does someone who works all day in a currency exchange miscount by $900?

Even when I've exchanged £100 into Euros before they've double counted it.

It sounds as if instead of giving out 100 x $1 bills, they gave out 100 x $10 bills

lincroft1710 said:

Ergates said:

How does someone who works all day in a currency exchange miscount by $900?

Even when I've exchanged £100 into Euros before they've double counted it.

It sounds as if instead of giving out 100 x $1 bills, they gave out 100 x $10 bills

Ergates said:

How does someone who works all day in a currency exchange miscount by $900?

Even when I've exchanged £100 into Euros before they've double counted it.

Ergates said:

How does someone who works all day in a currency exchange miscount by $900?

Even when I've exchanged £100 into Euros before they've double counted it.

Ergates said:

How does someone who works all day in a currency exchange miscount by $900?

Even when I've exchanged £100 into Euros before they've double counted it.

saajan_12 said:

All sounds a bit strange - 
- that you asked for 150 $1 bills (who wants to carry around a wad of bills, and won't be able to get change for most things)
- that you didn't notice and turn around sooner (you saw the first $70 was in $1 bills, so either it took another age and you had a huge wad for 900 bills, or the bills got larger and you noticed a large proportion weren't $1 bills)
- that they were sure you received the overpayment, as opposed to their till being off and investigating possiblities including another customer, or the teller siphoning it off. 
- that you were immediately sure you received the overpayment, without asking how much your niece received (considering you are reluctant to bother her)
- that upon seeing over $1000, your niece didn't pause to say a proper "thank you" or "are you sure?" or "you shouldn't have" before spending the money.
- that niece didn't research online (and receive your message at that point) considering it was an expensive purchase that she wasn't planning on since she didn't know she was getting the money. Or if she was planning on the purchase anyway without your money, then no need to return for her to give back the gift. 
- that niece didn't offer herself to return the camera and/or return the money upon finding out you'd be in a financial hole otherwise


Anyway even if we 100% go with that sequence, if someone accidentally sends you too much money, then you have to return it - legally. At most you might get some reimbursement for the extra hassle as a result (eg having to return to the store, fees you incur etc), or maybe a small goodwill gesture. But you will be returning the lions share of the money. 

when i go away i Always take a lot of $1 bills. I cant afford to give a $10 tip to every one who opens a door for me.

simandom

eskbanker said:

lincroft1710 said:

Ergates said:

How does someone who works all day in a currency exchange miscount by $900?

Even when I've exchanged £100 into Euros before they've double counted it.

It sounds as if instead of giving out 100 x $1 bills, they gave out 100 x $10 bills

OP claims to have seen 70 $1 bills being counted out - having said that, the lack of size or colour differentiation between denominations of dollar bills must increase the risk of that sort of thing happening....

NO they still gave me the $150 in one dollars i asked for. That's why i did not think the bundle of cash was large 

simandom

Belenus said:

I find this story very hard to believe. It is the fourth tall tale I have seen today from a newly registered user.

Oh well, we are supposed to be nice to everyone so I will respond as if it were true.

I then picked up my niece and took her to the airport, just before she left to walk into the Airport i gave her the envelope and said that this is to get yourself something or treat yourself while away. She did not open it there and then and walked into the airport to check in.

Your 20 year old niece needs to learn that she should never accept a package from anyone, even a trusted relative, without knowing what was inside.

How did she know that the envelope did not contain Class A drugs?

OMG this is a bit out there. I told her that it was to get herself something nice while away