receiving money incorrectly and not paying back

[rich8888]

What is the law on receiving money by your bank or employee by mistake and not returning the money? Is it actually against the law, does the person have a case if taken to court?

[dzug]

Yes - it's theft if not paid back on request. Though you are more likely to be sued for the money if the organisation thinks it worthwhile

I think the only defence is if you had good cause to think the payment was legitimate.

[society]

you could say you thought it was interest from the bank, and from your employer, you could always say you thought it was a bonus for doing a good job or retroactive payment since you are underpaid.

[dizmouk2009]

If the bank have made an error and have sent money to your account by accident then you're not technically breaking the law. I once found £200 in my account, I looked on my statement and the money came from an unknown source/location. My advice is (if it's a bank error) withdraw the money, put it into another bank account and wait a few months. If they don't take the money back then take it as being a bit of good luck! The banks chisel use out of so much money every year!

[redcrx]

if it was paid by mistake and you refuse to pay it back when requested then yes, they can take you to court, this also add court costs to the figure

[dizmouk2009]

Pretend you know nothing about the money - just don't spend it. Simmpleees ;)
If they ask for it back - give it them back. If the bank ask for it back - laugh at them because you gained interest on it, then give it back.

[society]

Rich, you could always say you were taught "finders keepers, losers weepers" LOL

[dizmouk2009]

Just out of interest how much money was it and was it the bank or was it someone else who has 'sent' the money by mistake?

[dzug]

Interesting how everyone jumps with glee on the bank.

Most of the time it won't be the bank who has made the error but one of their customers.

<<you could say you thought it was interest from the bank, and from your employer, you could always say you thought it was a bonus for doing a good job or retroactive payment since you are underpaid. >>

None of which are in the least convincing and will get you nowhere - except maybe branded as a liar. You need something a whole lot more convincing than that