legal position if bank wrongly credits your account with money?

Answer 1

If its a nice sum close your account take the money and go to another bank. They won't have any recourse to claim the money back or be able to take it out of your account.

Answer 2

If you know they made a mistake, you should return it. The key is "if you know." Let me put it this way. If the bank made a mistake and wrongly debited your account by $20 for misc charge, (which I believe happens all the time) you may or may not notice it. If you notice it, you would have to call the bank, argue with them and get the credit back. If you don't notice, $20 is gone. Now, if you are talking about $5,000, nobody is going to believe you if you say you didn't notice. And chances are they will notice it too.

Answer 3

If the bank accidentally credits your account and they ask for it back you dont need to give it back. It is the honest thing to do but you are not legally obliged to comply. They will threaten a solicitor to come and get you while you sleep but any good lawyer will throe it back in there face. It is not classed as theft as theft according to the police is
"to take property from a person or persons without there prior knowledge or concent."

If the bank put it into your account then it is their fault, not yours. I have had it done to me and the bank went mad, but eventually my lawyer said i was within my rights to refuse and they cant do a thing about it. If you ever want an account with tyhem again then i would give it back but if it is a large amount of money go tell them too eat grass.

Answer 4

You will have to pay the money back. If you take the money out of the account and refuse to pay it back to the bank, they can take you to court and get a judgment. The law is on the side of the bank. I've been involved in two cases like this and the bank wins.

Answer 5

If you are an honest person, you will tell the bank so that they can debit your account and put the money in the correct person's account. The bank can legally debit your account when they discover their mistake because the money was never yours in the 1st place.

Answer 6

Itis still the banks.

My father had 135,000 put in his account accidentally.


He withdrew it to see what would transpire, the bank found the error quickly and demanded the $ back.

He said he spent it

they said they would sue

he gave it back

they closed his account


i would say you have no legal position.

Answer 7

legally the money isnt yours, so you cant spend it. however, you can transfer it to an interest bearing account, where you can leave it until the bank ask for it back. You get to keep the interest.

Answer 8

you're morally obligated to tell the financial employer of the errors. it would desire to be that the verify replaced into encoded incorrect, or that the account huge style replaced into study incorrect. those with rather messy handwriting do no longer help the data operators decipher tests. additionally, if the deposit is ACH, it would desire to be that the document the financial employer gained from the originating provider provider or employer replaced into corrupted. there are various motives stuff is going incorrect...and with the way tests are processed, it quite is a ask your self greater stuff would not pass incorrect. merely be happy it replaced into an unintended credit, no longer an unintended debit! :)

Answer 9

Don't say anything, keep the money for a while as they can ask for it back but if they haven't done this in a few months I'd say it's yours!! Jammy thing!

Answer 10

I am guessing they put it in, you spent it, then they took it back and left you overdrawn??

Anyway, they can take it back.

What you should do if this happens is withdraw it all and close your account before theytake it back then they are fighting you not the other way round.