Band transfers

[ld8360]

If a bank incorrectly transfers a sum of money into my current account do i have the right to keep it?

[Ethel]

No, it is not your money.

[spudmuffa]

Nice question. You can keep it but it doesn't belong to you. It then becomes an ethical question. I personally would keep it and close the account. Hope this helps.

[scotchollie]

But spud didn't say you should do that.

He said he personally would keep it and close the account.

Anyway, I don't think you're legally obliged to report it, but morally?? I'd let it rest there (a la Father Ted) accruing interest.

Or sweep it for safekeeping into a high interest account, so when it gets taken back off you, you get a few quid for your efforts.

[innocenti]

There was a case in the paper of somebody who had a lot of money put into their account. They knew it wasnt theirs and spent the lot, the result was a prison sentence.