money not yours

[daveysean]

my friend was recently repaid pank charges but the bank overpain in error �3000 how does he stand on this

[iheartruby]

My understanding is that they are within their rights to take it back off him - and very probably will - so tell him not to spend it! Maybe just put it in an account with good interest until they ask for it back.

[Loosehead]

As above they will ask for it back, just keep in a high interest account until they do.

[sue11]

Good answers given, but I do seem to remember reading about a case where the person who was overpaid, put the money into a high interest account and left it there. When the bank realised what had happened, they sued this person who they say must have known that the money was not theirs and should have contacted the bank immediately to pay it back! I believe the bank was successful in it's case against this person, although my memory may be wrong. By removing the money your friend is showing that he realises it is not his, so as tempting as it may be to gain interest on the money, it may be better to contact the bank to let them know what has happened. Cheers Sue

[branchinghen]

"your friend" ? Lol , aye right!

Dont spend it davey boy!