Business & Finance1 min ago
illegal withdrawl?
12 Answers
If a payment has been made into a joint bank account in error, by a bank, and my ex transfers it to their account by online banking, is this illegal?
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Who made the error? If the bank were instructed to credit the money somewhere else and credited it in error to the wrong account then that IS the bank's fault and they are liable to repay it to where it should have gone.
How the bank then obtain repayment of the money that shouldn't have gone there is another question. I presume they will take action against the account holder of the receiving account. Unfortunately, as that's a joint account, I would imagine the two holders are jointly liable regardless of which one actually took the money. The bank will go after the easier target inevitably. That may therefore make it circuitous if that is you. They'll credit you for their error abut then chase you for the other money and you'll be no better off.
How the bank then obtain repayment of the money that shouldn't have gone there is another question. I presume they will take action against the account holder of the receiving account. Unfortunately, as that's a joint account, I would imagine the two holders are jointly liable regardless of which one actually took the money. The bank will go after the easier target inevitably. That may therefore make it circuitous if that is you. They'll credit you for their error abut then chase you for the other money and you'll be no better off.
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Yes, sorry EDDIE51, i do agree with you. What I was trying to say was that the person who had received the money in error can't just keep it/spend it and say it was the bank's error so the bank must suffer the loss. I agree that based on what brunette has said it's up to the bank, not brunette, to chase it up if the bank accepts that they paid it to the wrong account.
I'm not sure why brunette still has a joint account with an untrustworth ex- it's bound to lead to problems at some stage
I'm not sure why brunette still has a joint account with an untrustworth ex- it's bound to lead to problems at some stage
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