In theory can I keep it, say 4000GBP? The statement shows no reference number just a listing saying Bank Credit. We are in the UK
2006-11-16 05:19:05 · 11 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Absolutely - otherwise it is "unlawful conversion" and you very well might be arrested and enjoy the fruits of the criminal process.
2006-11-16 05:27:20 · answer #1 · answered by John the Revelator 5 · 0⤊ 0⤋
You are obliged to pay it back, but the courts have decreed that you are entitled to some time to do so.
Argue that their mistake is causing you many problems, banks have a duty of care and offer to pay it back in six monthly installments.
2006-11-16 13:49:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
i'm sure they have other ways of tracking that kind of stuff so you would be wise not to spend the money. even better, why don't you tell them about the mistake? some poor person could be out there going crazy because their money was deposited into the wrong account. that could be somebody's child support money or something.
2006-11-16 13:27:06 · answer #3 · answered by Jenn 3 · 0⤊ 0⤋
Keep it for the time being - but don't spend it - cause if they find out that they've done an error - you HAVE to pay it back..
I know it because it happened to a friend of mine - and she spent the money - but three months later they made her pay it back - and that she, needless to say, didn't enjoy.
If you have to give it back after some time - then atleast you earned some interest! :)
2006-11-16 13:22:24 · answer #4 · answered by heldigfis 2 · 0⤊ 2⤋
Not only do you have to pay it back, if you attempt to make the funds your own (by paying off your house or transferring to another account), you'll probably go to jail for Conversion.
2006-11-16 13:22:00 · answer #5 · answered by open4one 7 · 1⤊ 0⤋
Absolutely!!!! You know what belongs in your account. The bank will see the shortage....be it in another's account or where ever it came from. They will definitely debit the amount from your account so don't plan on spending it ...... it's not your money!
2006-11-16 13:24:21 · answer #6 · answered by Maggie M 1 · 0⤊ 0⤋
in the US you would be obligated to pay it back. out Uniform Commerical Code (business laws) came from England, so i think you will have to pay it back.
2006-11-16 21:41:34 · answer #7 · answered by Ovrtaxed 4 · 0⤊ 0⤋
i would pay it back because once they realize their mistake they will deduct it from your account causing all kinds of checks to bounce if it's a checking account.
2006-11-16 13:26:20 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Dont spend it, they will want it back.
However, if they are slow about it and you gain some interest, then I think that interest earned is yours.
2006-11-16 13:27:38 · answer #9 · answered by mand 5 · 0⤊ 0⤋
banks keep very good records......they will find the error and you'll be sorry if you spent it
2006-11-16 15:20:59 · answer #10 · answered by bush deathgrip 2 · 0⤊ 0⤋