Been given a payment twice - what to do?

gax23

Hi all,

Reclaimed my bank charges back from CapitalOne - £237. They sent me a cheque for this amount and on the same day wired it direct into my bank account. Now, I presume they're able to claim this back? What are my options? I presume that if I didn't give it back, could they legally charge one lot of £237 to my CapitalOne credit card? What would you do?

bryanb

Hold the cheque and post back when they ask

gax23

The cheque was cashed yesterday when I received it. I only noticed the direct transfer when I checked online banking this morning, so they're both in the account.

Paul_Herring

Pretend the amount isn't in your account for balances (e.g. if your balance is actually £537, treat the balance as £300,) then when they do realise (and they will) you can return it immediately however they ask for it, in the mean time you'll be earning interest on it.

I assume you have a current account that pays a reasonable amount of interest....

skyrider007

Paul_Herring wrote: »

Pretend the amount isn't in your account for balances (e.g. if your balance is actually £537, treat the balance as £300,) then when they do realise (and they will) you can return it immediately however they ask for it, in the mean time you'll be earning interest on it.

I assume you have a current account that pays a reasonable amount of interest....

I agree with Paul. If it's not your money, don't spend it.

exel1966

Technically, it is illegal to hold on to funds that are knowingly not yours. It is another offence to remove the money.

Having said that, I'd do as the posters above suggest and reap the interest while you can. I once earnt £157 in interest from a Barclays mistake !

YorkshireBoy

exel1966 wrote: »

reap the interest while you can.

Reap!?!?

It's 93p a month in a Halifax HICA. Just short of £12 a year, and look at all the 'remembering' you've got to do in that time.