Payment Errors

[hmpfrz]

Hi,

Two months ago I recieved a mystery payment of �525 into my current account. I went into the bank and we could not trace who the payment was from as the name of the person who sent it I did not recognise. I spoke to the manager of the branch who said "lucky you, see this as a bonus after 10 days legally its yours".
So in good faith I spent the money. However recently I recieved a call from my lettings agents, who said that it was them who made the payment and asking for it back. I told them what the bank told me and they hung up and I had no contact from them. In which time I've been trying to speak to the bank manager who told me I could keep it, he seems to have dissapeared, and all other staff at the bank either dont know or say I shouldnt have spent it. Today I come home to find a letter from my letting agents saying I have 5 days to make the payment or they will be getting their solicitors involved.

Does anyone know legally where I stand?

[dzug]

You have to pay it back.

The bank manager was wrong.

[SpamBammer]

well all i can say is are you some sort of mug??

[KRUSTYMAN]

Well your bank manager is obviously a pillock and it'll only be your word against his if you pursued it. In all fairness though, common sense should have made you sit on it for at least a month or so before thinking of spending it and even then only if it was out of desperation. Looks like you'll have to dig deep and cough up.

[lajohn]

How could you feel comfortable refusing to return the money when you've learned who the owner is? You are portraying yourself as dishonest by refusing to return the money.

[Trotbot]

Bank Managers rarely disappear. Their staff normally know where they are. Bank Managers also typically know the law relating to mistaken deposits. You story would be viewed with suspicion if repeated to the bank or the letting agents

[johnny37]

Sorry, hmpfrz but I smell a rat here. I have to question 'Who was ther person that adivsed you?' It sounds like hearsay. Any bank employee will tell you that if an account is credited by mistake the money is NOT yours. What they should have done is debit your accout with your permission. I have heard of cases where a bank has been found at fault and the money not repaid but this was only after the customer has made exhaustive efforts to resolve the matter verbally and in writing. As others have answered you should have left the money on your account until it was claimed..

[Twenty20]

Sorry, but I just dont believe a word of this question.

[bednobs]

i dont know how you could spend someone elses money "in good faith". Imagine if the situation were reversed, and you had accidentally put 500 quid of your money in someone elses account - when you worked it out do you think you would say "oh well, if you've spent it already, just keep it?"

[Hazel104]

This could be true, it happened to me last year.
I queried it with the bank and they said the same to me - lucky you spend it quick! I was shocked at their attitude, and of course I didn't. Common sense tells you that can't be right legally or morally surely? what if it was the other way round?
Luckily for me after two months of investigating (not by the banks involved but by me neither were at all interested) it did turn out to mine.

You have to pay this back - maybe grovel a little and ask if you could pay it back in installments?

[tiara4321]

my mother recieved a payment from norwich union she phoned them up and thay asked her to pay the money back" by the way she doesnt know how they had her bank details" I told her to go to solicitor and the solicitor said stop the cheque you sent to them and she would deal with it and my mother didnt have to pay the money back or the solicitors fees as it was there error and they shouldnt of had her name and details and for inconvieniancing my mother it was there loss as it had caused her a great deal of stress hope this helps

[tiara4321]

the other thing is to ring citizens advice if you can get through

[R1Geezer]

The bank manager is wrong. The whole "10 days" things is bull, sorry but you have to repay the dosh.

[hmpfrz]

well actually the bank did take resposibilty for mis-advising me and are now paying it back to the letting agents. so bonus