£11,000 bank error

Ert

My great-neice, who is not well-off, noticed that the bank had erroneously credited her current account with £11,000. While she was wondering what to do about it, the bank contacted her, explained that it was a mistake, and she agreed to let them take it back.
Was there anything she could have done, legally, to benefit in some measure from their mistake?
Ert

aliasojo

I don't see how to be honest.

If she's not well off then it stands to reason that she wouldn't have a huge amount in her account so it would have been immediately apparent that the money was not hers. Different perhaps if she regularly had large sums going through her account and therefore this could have been a payment of her own. Had she then used some of this amount and it turned out it was the banks, perhaps after giving the money back she could have argued that their mistake had caused bother for her and that she expected compensation of some sort.

As it stands though, she couldn't legally have held on to it and as it didn't inconvenience her in anyway, I don't see how she could benefit. If she hadn't have agreed to the money being removed straightforwardly, then the legal processes would have ensured it was eventually returned nonetheless.

There have been similar instances of this in the past, unfortunately no-one has benefited from the banks' mistakes that I know of. Shame really.

Sooler

Run off a letter to customer services - or straight to the chairman, enquiring if customers can have confidence in the bank in view of their lax care of such large sums on money. Ask why the bank should be considered for any future business and how customers can have any confidence that such poor managing of money by the bank will not occur again. Say that the intrusion into the account was a huge inconvenience.

They may recompsense with a tenner or something, if your lucky.

dchurch24

I would charge them £32. They do it to us when we make mistakes. Why should they be exempt? I would lay bets that you will get a cheque for that amount should you ask for it.

greenwich

Sooler wrote:

Run off a letter to customer services - or straight to the chairman, enquiring if customers can have confidence in the bank in view of their lax care of such large sums on money. Ask why the bank should be considered for any future business and how customers can have any confidence that such poor managing of money by the bank will not occur again. Say that the intrusion into the account was a huge inconvenience.

They may recompsense with a tenner or something, if your lucky.

She may get some cash if she's lucky. But first ask her what value she puts on her dignity and if £10 or even £32 is worth being the sort of person who writes letters like that.

By the way, do you even know if the bank was in any way at fault? It may have been someone who carelessly quoted the wrong account number when paying some money in by BACS.

Fedz

dchurch24 wrote:

I would charge them £32. They do it to us when we make mistakes. Why should they be exempt? I would lay bets that you will get a cheque for that amount should you ask for it.

Difference is you sign a contract in full knowledge of the charges before

I'd certainly ask for a goodwill gesture payment.

Quite along time ago now, The Co-operative Bank in error, credited my ex with a few hundred pounds. She informed them of the mistake and they in return gave her a goodwill payment of £20

All was happy!

realaledrinker

Fedz wrote:

Quite along time ago now, The Co-operative Bank in error, credited my ex with a few hundred pounds. She informed them of the mistake and they in return gave her a goodwill payment of £20

All was happy!

Co-op_Bank_website wrote:

We were the first high street bank to give all our customers a guarantee of efficient, error-free service. If we make a mistake in any of the areas covered by our guarantees, we promise to say sorry, put the problem right and pay you £15 for your trouble.

<snip>

Statements - We promise not to make any financial errors on your statements.

I quoted this at them when an overpayment to my mortgage ended up in a 'suspense account' Got the refund nae problem.

wallace_3

Sooler wrote:

Run off a letter to customer services - or straight to the chairman, enquiring if customers can have confidence in the bank in view of their lax care of such large sums on money. Ask why the bank should be considered for any future business and how customers can have any confidence that such poor managing of money by the bank will not occur again. Say that the intrusion into the account was a huge inconvenience.

They may recompsense with a tenner or something, if your lucky.

The bank realised the error quickly, and took steps to rectify it. I dont see this as a cause for concern - had it taken them weeks or months to notice, then maybe so.

As for claiming that the extra money was an inconvenience, that is just a lie. The money went in, the money went out. The original poster never said that the payment had any negative impact. If it happened to me I would not expect any compensation.

charlie12

If I had that happen on my account, I'd immediately do a DD from my ING savings account. That way I'd earn some decent interest from it, and when the bank request it back, BACS it back.

Of course this wouldn't be necessary if the account in question already pays a decent rate.

And it's assuming you have the funds for at least a day or so.

jr666

Looks as iff it should be a case of either

"Bank error in your favour, collect £200"

or

keep quiet and "go to jail do not pass go and do not collect £200"

surfcat

charlie12 wrote:

If I had that happen on my account, I'd immediately do a DD from my ING savings account. That way I'd earn some decent interest from it, and when the bank request it back, BACS it back.

That would be stupid, and constitute theft. As it wouldn't be your money, the bank are not obliged to inform you before they take it away again. Presumably then, 'through no fault of your own' you would go overdrawn, incur lots of charges, and then whinge all about it on the vent forum.