Banking

[theseatunder]

If i pay money into a bank account of �24 and �28 but the bank put in �2428 am Iat liberty to spend any of this> Thought it was my grant and spent some although been 4 days and Bank have not contacted me yet.

[stevie21]

You know it's not yours so it'd be akin to theft. In fact, it might literally and legally be theft.

[Postdog]

No, As implied, it would actually be theft. I speak from experience of a similar mistake with my account once - not that I took any!.

[knobbynonuts]

about 15 years ago I put my wages cheque in for �200 and low and behold they credited me with �2000, a hell of a lot of money 15 years ago, so I thought great weal have a nice holiday out of this but then I came to my sences and realised I would get into big trouble if I done that.
Anyway the outcome was about a month later they realised there mistake and took the money out, I asked them afterwoods what woild have happened if I spent any of it and of course the reply was they would have done me for theft,so unless you are thinking of emigrating leave well alone as they will find out eventually.
But in the meantime it might be fun to see how long they take to find out there mistake.......

[Hammer Head]

'we'll have a nice holiday'.

'come to my senses'.

'their mistake'.

[carrot99]

Transfer it into an interest account until they ask for it back. Then at least you would have the interest.

[AshfordVikki]

What happens if you claim you didn't know about it and you withdraw not the whole lot but a part of it?

[bednobs]

they will ask for it back, despite what you claim

[andy-hughes]

I had a similar experience with the Co-op Bank years ago.

They messed me around something rotten, so I decided to move accounts. I arranged to transfer my loan account to my new bank, but the Co-op cocked up, and put �2,000 in my current account. I withdrew it in cash, and when they asked for it back, I told them that I was going to be similarly inefficient - specifically, every time I had to ring them, I would deduct �5 in charges from the balance, and every time I wrote to them, I would charge �20 charges - similar to what they were doing to me.

A flurry of corespondence was exchanged, culminating in them sending me a very terse letter demanding the money back, and charging me �60 for that one letter.

I obtained legal advice.

The upshot was, my solicitor told the Co-op that i had withdrawn the money in good faith, and was willing to repay at �30.00 per month. All charges were to be withdrawn, and all correspondence from them to me was to cease - failure to comply would result in involvement of the Ombudsman, and their faulty practice would be exposed.

They gave in - because I offered reasonable repayment terms and the error was theirs, they had no legal recourse.

So - if you fancy keeping the money and offering to pay it back at say �30 - �40 per month, I'd give it a punt.

Up to you.

[spaced]

is all this stress and mucking the bank about worth it for just �2428???

Nah!

It it were �2,428,000 then maybe

Be honest and give the money back - dont spend it.

[theseatunder]

Put back what I withdrew but thanks for all advice. And in answer to Spaced - being a student at University with hight costs and little money yes �2428 would be worth the hassle. Although I now know this not my money and have left well alone - the temptation to a student is well worth thinking about. Thanks again to everyone

[ramesh046]

Carrot 99 has the sensible answer.
Dont even think of spending it as they will chase you for sure. I should know. It happened to me long time ago

[knobbynonuts]

get a frigging life ammer ead