Moral issues aside, the bank had refunded my bank charges, but not the statutory interest. After filing in court etc they have now paid the charges again plus the outstanding interest. I believe that I read somewhere that after 5/10 days I can keep it, is this true, or shall I just ring my incompetent bank and tell them their mistake?
2007-03-15 02:47:43 · 28 answers · asked by lisa_m_preston 2 in Business & Finance ➔ Credit
Stick it in a min cash ISA for a while, so if they do ask for it back, it's there, but you'll have earned some interest off it in the meantime,
2007-03-15 03:34:52 · answer #1 · answered by Tony W 2 · 1⤊ 0⤋
i once depositted £40 at my bank and the twit at the counter put in £100 and i had no problem keeping it. i had a receipt and that's all i needed. they did ring me to try and rectify the error but i never answered. as far as i was concerned it was there error. my suggestion would be switch banks like the person above said . take that money and put it aside in a high interest save that pays monthly eg ING that way if they ask for the money back (because you probably didnt get a receipt of letter to say they were sending it to you) you get to keep the interest made from it and if they never ask for it back even better for you...serves them right HAHAHA
you could always make out you thought it was compensation to cover stress etc.
be aware they may not notify you when removing your money (aka their funds)
2007-03-15 14:30:17 · answer #2 · answered by babyonlyne 3 · 0⤊ 0⤋
Refund their money. They will catch up with you sooner or later - probably sooner. When you bring back the money, talk it over with the bank manager and make a big issue of your honesty. You may need a good reference in future and a bank reference is excellent.
Also, think about opening an account at another bank.
Hope this helps.
amadeus
2007-03-15 10:03:45 · answer #3 · answered by amadeus 3 · 0⤊ 0⤋
Tell them about the mistake because they will find it and they will take it back and usually at a time when you are short on funds. They always find it. For those that say to keep they aren't going to be the ones that could end up over drawn and then paying those fees and if you close it and they take you to court are you willing to risk your credit for it? because if you are taken to court it will affect your credit. This is morals aside. However putting morals into the mix.....How could you live with yourself? Those that use the term free money probably live off of someone else and doesn't know what it means to work for a living.
2007-03-15 09:52:35 · answer #4 · answered by romettifamily 2 · 3⤊ 1⤋
If they have made a mistake they can claim back the money at any time. No such thing as a 5/10 day rule. If it really is not yours then why should you keep it. When they discover the error they will take it from your account and will not bother to tell you. Write to them and inform them of the error.
2007-03-15 10:19:26 · answer #5 · answered by ANF 7 · 1⤊ 0⤋
Keep it.
I wait tables, and one Friday morning I deposited all of my tips into my checking account. (Cash of course, which registers immediately.) That afternoon, I left for vacation.
Imagine my surprise when I checked my balance the next day and that money wasn't there. I called and they couldn't do anything without the deposit receipt, which was at home. I didn't get the money back for a week.
The banks rely too much on technology.
For everyone that's been screwed over by a bank, keep it.
And, you know, if it's a lot of money and you fear they'll catch you, withdraw it all and go to another bank.
Everyone here can say what they want and act moral, but free money is free money and gas is expensive.
2007-03-15 09:55:20 · answer #6 · answered by dayday 3 · 3⤊ 1⤋
If the money was paid after you requested your fees back, then you are entitled to it.
I claimed for my bank fees - they refused to pay the interest but agreed a negotated price which I accepted. When the money comes in, it's mine!
I think the same is true here.
2007-03-15 10:00:10 · answer #7 · answered by Alex N 2 · 0⤊ 0⤋
It's up to you. You could keep mum and say nothing but on the other hand the bank might realise their error and come chasing you for the overpayment The main thing is do you want the hassle.
2007-03-15 09:52:49 · answer #8 · answered by Anonymous · 0⤊ 1⤋
Not a good idea. Banks audit themselves all the time and they WILL discover the overpayment. Don't assume they will just shrug it off. Best to let them know about it. If after making a reasonable effort to correct it they still have not then I would think you are in the clear.
2007-03-15 09:53:26 · answer #9 · answered by douglas l 5 · 3⤊ 1⤋
Someone once got paid out too much from a cash point & didn't tell the bank. He was prosecuted & found guilty of theft, so probably you're not entitled to keep it.
2007-03-15 09:51:56 · answer #10 · answered by keefy 3 · 5⤊ 0⤋