Bank error in my favour??

[safctillidie79]

I recently got a letter from my bank which said my employers were quoting the wrong reference numbers when paying my salary, so they were having to do it manually. I then checked my account and it had been done twice.No contact has been made on this error what should I do? Is there a time limit then it becomes mine? I still have all the money but have put it in a high interest account untill resolved.

[Hobbie]

Keeping monies that you know to be transfered in error can constitute a criminal offence (ie; Theft), If you know the monies has been transfered in an error you should inform the bank, how you inform them is up to you, ideally in writing though, it is then up to the bank to resolve. But if you earn any interest on it that is also money that doesn't belong to you, and therefore you can not keep.

 

You've asked for advice and that is all I've offered, it is of course upto you how you proceed.

 

1) Bank may do nothing, and allow you to keep it (Extremely unlikely)

2) Bank may come back for it in a few month time, and just take it back

3) Bank may inform the facts of the matter to the police.

 

In my opinion, and thats all it is, my OWN opinion, the bank will opt for option 2, and just take it back. But with how banks are acting these days, who knows what they'll do, don't give them the chance to get the police involved.

[Conniff]

It will never become your unfortunately.

 

Wait a while and see if they contact you about it first, you have done the best thing that could be done with it, put it into a interest paying account.

Now all you have to do is to stall the repayment as long as possible, but if after 28 days they have not contacted you, then you should report it.

[maroondevo52]

Is there a time limit then it becomes mine?

 

 

Never, It's not your money, they will notice and chase you for it

 

 

Regards.

 

Scott.

[bidstermeister]

As always with situations like this - my first thought would be: If I had acidentally transferred money to the wrong account (remember, bank transfers go by a/c no' and sort code, not the name!) then I'd hope that the person who had the "windfall" would speak up and wonder why he had a bit too much money in his account

[Bigmac versus]

Maybe im reading this wrong but to me it looks like your employer has paid this twice not the bank.

Your employer may be the one chasing you.

[Hobbie]

... Or maybe next month your employer may not pay you as they've paid you twice in one month?

[safctillidie79]

As always with situations like this - my first thought would be: If I had acidentally transferred money to the wrong account (remember, bank transfers go by a/c no' and sort code, not the name!) then I'd hope that the person who had the "windfall" would speak up and wonder why he had a bit too much money in his account

 

Me too! but it seems as if it's no ones money you see they had to credit my account manually and added the same sum twice.

[safctillidie79]

I'm not sure if it makes any difference but it is a building society book only account.I am also in the process of closing the account anyway as I have a Halifax account which I'm switching my salary and d/d's to

[Bigmac versus]

Someone has paid this twice and to me it looks likely its your employer and if this is the case then you may find yourself missing a pay shortly.

[raydetinu]

Yep happened to me, my employer soon asked for it back! but if it is a big organisation they may not notice, until they work out you p60.