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Money in bank account ?
On my return from living in Australia I checked the details of an old account I have on the IOM.
It seems that someone has been depositing money into this account for 9yrs.
There's a bit in there, in fact quite a bit, I am at a loss as to what to do with it.
Shall I contact the bank or just transfer it into my wifes account.
It seems that someone has been depositing money into this account for 9yrs.
There's a bit in there, in fact quite a bit, I am at a loss as to what to do with it.
Shall I contact the bank or just transfer it into my wifes account.
Answers
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It's not your money so technically you shouldn't spend it or transfer it.
This question is often asked in connection with banks making a payment in error, in that scenario the law is clear, a mistake has been made and it is not your money and therefore the bank can claim it back at any point.
The assumption here I would be that there is some sort of direct debit/regular payment that has been set up and your account details have been used in error.
Personally I'd transfer the money to a high interest savings account and then close the other account, that should result in the regular payment flagging up in an account somewhere. The bank might then investigate and contact you asking where the money was and informing you of the details of the payments.
As it have been in a savings account you won't have spent the money but would have had the chance to accrue some interest in the mean time.
This question is often asked in connection with banks making a payment in error, in that scenario the law is clear, a mistake has been made and it is not your money and therefore the bank can claim it back at any point.
The assumption here I would be that there is some sort of direct debit/regular payment that has been set up and your account details have been used in error.
Personally I'd transfer the money to a high interest savings account and then close the other account, that should result in the regular payment flagging up in an account somewhere. The bank might then investigate and contact you asking where the money was and informing you of the details of the payments.
As it have been in a savings account you won't have spent the money but would have had the chance to accrue some interest in the mean time.
Thank-you very much Sir.
I am still trying to get to the bottom of this.
I have a pile of letter's,bank statements,tax forms,mandate forms and bascally 9 yrs of correspondence.
Regular payments of between �500 and �525 have been going in each month.
I have gone through the figures and seen that over 108 payments have gone in from a company in the Dominican Republic, called Goldstar Marine Diving Inc (Miami).
My brother was a diver 9 yrs ago for a Marine company based in Miami and worked in Dom Rep, but I cannot get hold of him, as he is in India.
I have Googled Goldstar Marine without much luck.
As of date there it looks as if there is �57,650 in the account.
I think it might be better to get a legal prospective, and getting a good solictor on the case.
I don't want to end up in trouble - Thanks for the good advice.
I am still trying to get to the bottom of this.
I have a pile of letter's,bank statements,tax forms,mandate forms and bascally 9 yrs of correspondence.
Regular payments of between �500 and �525 have been going in each month.
I have gone through the figures and seen that over 108 payments have gone in from a company in the Dominican Republic, called Goldstar Marine Diving Inc (Miami).
My brother was a diver 9 yrs ago for a Marine company based in Miami and worked in Dom Rep, but I cannot get hold of him, as he is in India.
I have Googled Goldstar Marine without much luck.
As of date there it looks as if there is �57,650 in the account.
I think it might be better to get a legal prospective, and getting a good solictor on the case.
I don't want to end up in trouble - Thanks for the good advice.
-- answer removed --
Yes your right, but I might take advantage of a fixed fee interview.
Trying to trace travel company my brother booked with, with the size of India he could be anywhere.
My sister has informed me that it may be consultancy fees, or some type of pepper corn payment because he is on the diving companies book's..It is a hell of a lot of money, I just hope it's not one big mistake.
Thank's for the advice guys.
Trying to trace travel company my brother booked with, with the size of India he could be anywhere.
My sister has informed me that it may be consultancy fees, or some type of pepper corn payment because he is on the diving companies book's..It is a hell of a lot of money, I just hope it's not one big mistake.
Thank's for the advice guys.
Can't see it's a mistake if your brother has some ties with the company involved. Is it likely he gave your bank details (would he have had them?).
As you say �500 a month seems like a hell of a lot of money, the �500 and �525 would seem to suggest a fluctuation in exchange rates of a regular fixed payment as you suggest.
However it would seem to me in this case there has been no "mistake", it sounds as if your brother explicitly gave the correct bank details (even though they were yours) and the company have been paying the amount correctly. Therefore it would seem unlikely either the bank or the company would have any claim to the money.
Your brother on the other hand might, as suggested I wouldn't bother with any legal advice unless it was necessary, bit like asking a new cars sales man if you need a new car.
Personally I'd stick most if not all of the money in a high interest account, make every effort to contact your brother and wait to see what he says.
Depends how honest you are but if it were me I'd contact my brother and say "hey there seems to be �30,000 in my bank account ", if he says "What the hell there should be �58,000" then you come clean, if he says "Wow, I'll come and collect it then give him his �30,000 and collect your finders fee :)
As you say �500 a month seems like a hell of a lot of money, the �500 and �525 would seem to suggest a fluctuation in exchange rates of a regular fixed payment as you suggest.
However it would seem to me in this case there has been no "mistake", it sounds as if your brother explicitly gave the correct bank details (even though they were yours) and the company have been paying the amount correctly. Therefore it would seem unlikely either the bank or the company would have any claim to the money.
Your brother on the other hand might, as suggested I wouldn't bother with any legal advice unless it was necessary, bit like asking a new cars sales man if you need a new car.
Personally I'd stick most if not all of the money in a high interest account, make every effort to contact your brother and wait to see what he says.
Depends how honest you are but if it were me I'd contact my brother and say "hey there seems to be �30,000 in my bank account ", if he says "What the hell there should be �58,000" then you come clean, if he says "Wow, I'll come and collect it then give him his �30,000 and collect your finders fee :)
Great Answer...
He is my brother, but I get your point, I think he will be happy to give me a finders fee.
My brother and I have two different Christan names and middle names but the same initial's, his Mark Alan and I am Mike Andrew, plus he lived in my other house 10yrs ago.
Rang the bank and am organising a transfer to my account prior to the opening of a high interest account .
Still unable to contact brother, his too busy having a good time in Goa.
Thnak's Guys !
He is my brother, but I get your point, I think he will be happy to give me a finders fee.
My brother and I have two different Christan names and middle names but the same initial's, his Mark Alan and I am Mike Andrew, plus he lived in my other house 10yrs ago.
Rang the bank and am organising a transfer to my account prior to the opening of a high interest account .
Still unable to contact brother, his too busy having a good time in Goa.
Thnak's Guys !
Just got off the phone to my bro : Sorted : It was payment of a patent manufactuering fee, some diving consultancy work and an offshore operational fee , whatever that lot means ?...Sounds Posh.
I know my brother designed a new diving valve or something that was patented and made in the USA which I think he sold the rights to or something.
He was going through a divorce, so used my bank and address detail's.
Closed the account after transfer, and accepted an added tax free payment of �1500.
He didn't even know the money was going in the bank, and as it's a result his going to give me half !.
Thanks to all you guys for your imput.
I know my brother designed a new diving valve or something that was patented and made in the USA which I think he sold the rights to or something.
He was going through a divorce, so used my bank and address detail's.
Closed the account after transfer, and accepted an added tax free payment of �1500.
He didn't even know the money was going in the bank, and as it's a result his going to give me half !.
Thanks to all you guys for your imput.
Thank's WoWo !.
Going to have a good holiday with my share of the money.
It's not everyday you get �29,000 off your family.
And the answer to the other question : Can I have a Sub ?.
I don't mind sending you some money my friend.
At Subway, the well known High St fast-food outlet I believe you can buy the " Sub of the day" for �1.99.
Give me your address and I will send you �3.00, that way you can always buy a packet of crisps and a drink to go with your Sub...
See how money can change your life ?.
Last week I wouldn't have dreamed of buying somebody in need a lunch.
On a serious note : A BIG THANKS TO ALL YOU GUYS AND GIRLS ON AB, YOU WERE REALLY HELPFULL AND SUPPORTIVE.
Ummmmm Florida look's nice in August.
Going to have a good holiday with my share of the money.
It's not everyday you get �29,000 off your family.
And the answer to the other question : Can I have a Sub ?.
I don't mind sending you some money my friend.
At Subway, the well known High St fast-food outlet I believe you can buy the " Sub of the day" for �1.99.
Give me your address and I will send you �3.00, that way you can always buy a packet of crisps and a drink to go with your Sub...
See how money can change your life ?.
Last week I wouldn't have dreamed of buying somebody in need a lunch.
On a serious note : A BIG THANKS TO ALL YOU GUYS AND GIRLS ON AB, YOU WERE REALLY HELPFULL AND SUPPORTIVE.
Ummmmm Florida look's nice in August.
Oh, I was thinking more along the lines of �3000, that way I can make my own sarnies in a lovely kitchen without having to sell my car for collaterol :D
LOL
Anyway, that's absolutely fantastic your brother has split the money with you, what a star he is. Have a fantasic time in Florida (or wherever you decide to go) x
LOL
Anyway, that's absolutely fantastic your brother has split the money with you, what a star he is. Have a fantasic time in Florida (or wherever you decide to go) x
Sorry my friend, don't mind sending �3 but �3000 thats a bit too much. Ha Ha.
Talking kitchens if your serious here's some advice.
I went to B&Q and got all the units and worktops myself, saved a bloody fortune !...My advice get a kitchen designer to come round and survey the kitchen, then say you have changed your mind, use the computer generated pictures on you own install.
B&Q have a pensioners discount day, if you get a pensioner to buy your stuff, your save even more money.
I paid a good carpenter �150 for 1.5 days work, and he done a really professional job, you need a good chippy to cut and angle worktops...I put all the units together in the garage, and saved time by taking the old units out prior to the chippy coming..
His a Diamond bloke my brother, an ex special forces diver gone commercial. His in the Middle East diving in August, I might just go there for a few weeks..
Thanks to everyone again !!
Talking kitchens if your serious here's some advice.
I went to B&Q and got all the units and worktops myself, saved a bloody fortune !...My advice get a kitchen designer to come round and survey the kitchen, then say you have changed your mind, use the computer generated pictures on you own install.
B&Q have a pensioners discount day, if you get a pensioner to buy your stuff, your save even more money.
I paid a good carpenter �150 for 1.5 days work, and he done a really professional job, you need a good chippy to cut and angle worktops...I put all the units together in the garage, and saved time by taking the old units out prior to the chippy coming..
His a Diamond bloke my brother, an ex special forces diver gone commercial. His in the Middle East diving in August, I might just go there for a few weeks..
Thanks to everyone again !!
Hi Bravo,
I have a B&Q designer coming round on Tuesday night to do the layout for me. I have picked the kitchen already, which is from B&Q but screwfix is a subsidiary of B&Q (and cheaper), so Dad and I are going to get the kitchen when I know exactly what I need and he and I are installing it.
My Dad is in the trade and he has installed heaps of kitchens and I have helped with a few, so we know what we're doing.
The only 'trade' person I'll be getting in and paying is a Gas Engineer to shift a couple of pipes and connect a gas cooker x
I have a B&Q designer coming round on Tuesday night to do the layout for me. I have picked the kitchen already, which is from B&Q but screwfix is a subsidiary of B&Q (and cheaper), so Dad and I are going to get the kitchen when I know exactly what I need and he and I are installing it.
My Dad is in the trade and he has installed heaps of kitchens and I have helped with a few, so we know what we're doing.
The only 'trade' person I'll be getting in and paying is a Gas Engineer to shift a couple of pipes and connect a gas cooker x
Thank-you for your kind reply Sir.
Regarding my brother's ex wife, that's sadly another story, shortly after they split up, she was killed in an accident in Africa when a jeep she was in left the road, she had brain injuries that were not treated fast enough, a sad end to a 31 yr old woman and a wife of 10yrs.
I might add that it was my brothers wife who decided to call it a day, not my brother...Being a military wife is not the life for everyone...
Moving on, I understand that the Isle of Man is a tax haven, in that sense I think I am right in saying that various tax breaks are possible if you bank there.
As a commercial diver, my brother who earn's a 6 figure salery every year pays a higher rate of income tax than most of us, so I think over the years the taxman has has his fair share.
He doe's a lot of voluntary work overseas, and was part of a team who went back to Africa and installed a water puriification plants in several out lying villages.
Whilst there he saw the place where the accident happened, and erected a stone monument to her memory.
My brother is a very rare breed, the type that puts others first, and would quite easyly just give his money to a needy charity. In fact I imagine that he will invest this windfall in some water or food project somewhere in the world.
Perhaps there is a god up there looking down....who knows, but one thing I have learnt, if you give, then one day you might get that back.
Regarding my brother's ex wife, that's sadly another story, shortly after they split up, she was killed in an accident in Africa when a jeep she was in left the road, she had brain injuries that were not treated fast enough, a sad end to a 31 yr old woman and a wife of 10yrs.
I might add that it was my brothers wife who decided to call it a day, not my brother...Being a military wife is not the life for everyone...
Moving on, I understand that the Isle of Man is a tax haven, in that sense I think I am right in saying that various tax breaks are possible if you bank there.
As a commercial diver, my brother who earn's a 6 figure salery every year pays a higher rate of income tax than most of us, so I think over the years the taxman has has his fair share.
He doe's a lot of voluntary work overseas, and was part of a team who went back to Africa and installed a water puriification plants in several out lying villages.
Whilst there he saw the place where the accident happened, and erected a stone monument to her memory.
My brother is a very rare breed, the type that puts others first, and would quite easyly just give his money to a needy charity. In fact I imagine that he will invest this windfall in some water or food project somewhere in the world.
Perhaps there is a god up there looking down....who knows, but one thing I have learnt, if you give, then one day you might get that back.
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