How long does it have to stay in there before it can be claimed as yours?
2006-09-04 04:54:42 · 18 answers · asked by Swanadoo 1 in Business & Finance ➔ Personal Finance
Don't even go there. Notify the bank and do the right thing. You will sleep better and not face the problems that eventually would come if you spent the money.
2006-09-04 04:58:05 · answer #1 · answered by Anonymous · 4⤊ 1⤋
When credit is put into your account by mistake you should tell your bank about it and let them sort it out. If you simply draw the cash and spend it you could face theft charges later on if either the depositor or bank find out the money is not really yours. This really is a case of THE BEST POLICY IS HONESTY. However if you find cash on the street, spend it.
2006-09-08 08:03:29 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The mistake will be discovered and the bank will want the money back. The best thing to do is notify that bank of the error and have the funds taken out of your account. If you use the funds, the bank will want them back and take whatever means necessary to do so.
In my banking career I've seen this situation arise a couple of times and it always ends up badly for the people who use funds that aren't theirs....
2006-09-04 12:20:21 · answer #3 · answered by Adios 5 · 0⤊ 0⤋
If the bank ever find out, they will be legally entitled to get it back. Best thing to do, is stick it into another account for a while. If they haven't clicked on in, say, 3 months, they probably won't. But if they do, the best thing to do is act dumb, play the pauper and offer to pay them back at £5 a month. I have done this, and they accepted my offer.
2006-09-04 12:01:57 · answer #4 · answered by Roger B 3 · 0⤊ 0⤋
someone will notice. period.
if you spend it, you'll be paying back the bank. if you can't pay immediately, you either agree to pay back with interest or you find yourself in court (you will lose).
if you're certain it is an accident, contact the bank and let them know. either way, the end result will be the same, so you might as well look like the good guy instead of the sleaze.
2006-09-04 12:01:28 · answer #5 · answered by The Beast 6 · 0⤊ 0⤋
It can't ever be claimed as yours - If you spend it you will be required to pay it back if the bank discovers the mistake. Its technically Theft by finding. I would contact your bank ASAP and ask for an explanation. If they can't explain it then they can't do anything about it so.. atleast your backing yourself up.
2006-09-04 11:58:52 · answer #6 · answered by Lucasm 2 · 2⤊ 0⤋
You should really try to resolve this with the provider, they can come back and reclaim thier money for up to 3 years.
2006-09-04 12:01:41 · answer #7 · answered by Ray W 2 · 0⤊ 0⤋
Don't spend it, tell them, technically they can always reclaim it andif you don't have it they can take you to court for it, potentially bankrupting you in the worst case to get back what they can. If its loads you could ask them as its their error to let you keep the interest earned as 'inconvenience payment' but technically even this is theirs.
2006-09-04 19:57:50 · answer #8 · answered by kittykat 2 · 0⤊ 0⤋
What is yours is yours and what is not yours is not yours.You need to notify the bank and ask them to remove the amount from your account.Do not use that money else you will pay it back in any case.
2006-09-04 12:38:42 · answer #9 · answered by emmanuel_vandmk 2 · 0⤊ 0⤋
that happened to me, they deposited £1200.00 in my account, it took them a month to claim it back.
They will find out, especially when the area manager comed to the branch and looks at the books.
2006-09-04 12:51:59 · answer #10 · answered by Rebz 5 · 0⤊ 0⤋