Money Paid Into My Account By Accident Now They Want It Back !

[Iggle Piggle]

Back in August some money appeared in my account from some random firm.
Today I received a polite letter from my bank asking for the money back.
Do I have to give it back? can the bank not claim on some insurance for lost money?
It seems a bit weird that they can just ask for it back after this long.

[gness]

Methyl...please put me right if I have misunderstood as I read your link quickly.
The person who received the money in error can claim compensation for any upset or inconvenience it caused?

[humbersloop]

that link answers my question about the interest, thanks pretty_snowdrop

[society]

I would like to know how you friend would feel or react if £1,000. went missing from their bank account... Would they say "ok, finders keepers"

[themas]

Iggle - you say your friend's overdraft was cleared by the £1000, so they presumably gave that level of overdraft facility. In that case, they simply repay the money & use the overdraft facility to do so - they don't need a bank loan.