Money mistakenly lodged in my AIB account.

C

costa

Registered User
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Hi,
When I checked my bank account last weekend i noticed that there had been 2 extra payments made to my account in error. I have done nothing about this money yet (hoping it stays there :) ) What is the position here? I presume the bank or whoever paid in the money will notice the mistake and request the money returned.

Do I have to agree?

Can the bank take back this money without my consent?

I know it isnt my money but am curious as to what happens in this situation.

Thanks,
Costa.
 
You right, it's not you money so whatever you do, don't go spending any of it as it will be noticed at some stage & they have the right to take it back.

Your best bet is to contact your bank as soon as possible and let them know there have been a error and ask them to recitfy it as soon as possible. Keep a record of the correspondance.

There have been previous threads on this - wasn't there someone in Italy had a huge amount lodged into their account & they did a runner to another country....can't remember all the details
 
Advise your bank straight away, and give them permission to take it back - at least they should be able to track down rightful owner (who may be in desperate need of that money, and currently don't know where it is).

You'll have done your reputation a lot of good and you will feel better for doing the right thing ....
 
Just checked my account and there's been another lodgement made - I'm quite liking the look of my account right now!!

Best to give them a shout tomorrow I suppose :(
 
They will have to advise you first,but the can and will take it back. it may take a bit of time for them to discover the error,but you cant keep it..
 
This happened me many years ago - got 4 payments of £5 paid into my account. I went ino the bank and told them and they thought it was a great laugh. They only took back £15 so I made £5.
 
Same thing happened my Dad some years ago when approx. €1,000 was lodged to his account in error. He went down to them that very day to tell them. Bank Manager was grateful for his honesty and gave him and my mum €200 on behalf of the bank to have a nice meal out. Personally I wouldn't "feel right" keeping the money. For sure it will be noticed at some point...
 
A long time ago, I know someone who deposited 500 EUR cash into their current account, but their balance went up by 50,000 EUR.

It took the bank 2 weeks to spot their error.
 
Something similar just happened me. I always pay off my credit card by EFT but this month my EFT arrived late because of the bank holiday. AIB executed a direct debit to pay €790 off my card. The only problem was that I had closed my AIB current account over a year ago and forgot to set up a new DD. That didn't deter AIB at all - the DD was approved and €790 was magiced into my credit card!
 
There were 3 different payments made to the total value of around 30k. I havnt contact the bank yet but only becuase I havnt had a chance to yet.
 
costa said:
There were 3 different payments made to the total value of around 30k. I havnt contact the bank yet but only becuase I havnt had a chance to yet.
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A simple phone call to your branch should raise alarm bells on their side and it should be fixed quickly.
 
Dont worry the bank will already be sending msgs to eachother thru swift from the ordering a/c bank to the beneficiary bank (your bank). assuming the beneficiary the cash is actually for has contacted the payer about non receipt which they will do. and no the bank dont need your permission to take it out. they just need debit authority from the ordering customers bank stating the funds are not for u. i deal with this every day and its an error on the ordering customer supplying the wrong a/c details. so my advise dont spend a penny!
 
This happened to me before and I rang my bank and also called in to investigate. They even sent me a copy of the lodgement slips. One of the lodgements was a cheque so my bank contacted the bank that the cheque was linked with. That was months ago and still has not come back out of my account. I can't really do anymore. It wasn't a huge amount but still thought it was right to give it back.

I think there is something legal that it is yours if it's in your account 1 year and a day after the lodgement. Not 100% on that though.
 
NewUser1 said:
and no the bank dont need your permission to take it out. they just need debit authority from the ordering customers bank stating the funds are not for u. i deal with this every day and its an error on the ordering customer supplying the wrong a/c details.
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Are you sure? My experience (on both sides) is that they need the beneficiary accounts signature to withdraw the money. In fact I had some trouble waiting for the money to be transferred back as that persons bank were having trouble getting the person to be honest :)

Opposingly, about 10 years ago I was transferred someones rent in error for a few months, and the banks got me to sign something to withdraw the money, and were happy to withdraw it in monthly installments. I was left in no doubt I was doing them favour. It also explains the moments of spontaneous generousity by the banks described above.

I believe there is a difference though between bank errors (which they'll just correct without you knowing), and 3rd party transfer errors, which require a signature to rectify.
 
i work in fianance treasury support, making payments, i get approx 1-5 queirys everyday and at least one would be to give debit authority the money is not urs it was sent in error, you debit the customers a/c. its called sending an MT199 thru swift (a programme all irish banks use). the customer who made the payment and gave the wrong details is charged a fee for supplying the wrong details.
 
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