Northern rock - they gave me double

D

danboo

Guest
Remember the whole Northern rock thing? Well, they sent me a double payment by accident.

Can i keep it or do I have to give it back?
 
I think you'll find that, when it comes to over-payments banks'll be all over it before you know it
 
Conscience? mmmm. I've lost alot on their shares as it happens.

Seriously. Does anyone know for sure if I am obliged to give it back. They put the money in my account, i didn't ask for it.

My Account with them is now empty so they can't be all over it.

anyone know?
 
Google would indicate No (Same as whenever ATMs give out the wrong amount they'll just debit your account with the difference, same principle I guess). However, you don't have to return any interest you may be earning on the money...
 
danboo said:
Seriously. Does anyone know for sure if I am obliged to give it back. They put the money in my account, i didn't ask for it.
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In a moral-free zone you are not 'obliged' to do anything, but legally it is not your money so it is illegal to keep it.
 
It happened to a friend of mine as well. He returned it, but he said that "they" weren't even aware of it!!! Hard to believe.
 
You are legally obliged to return it so don't spend it. Its not your money.
 
danboo said:
Conscience? mmmm. I've lost alot on their shares as it happens.
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Totally irrelevant. Your bad investment decisions have nothing to do with a mistaken payment of money to your account. Just pay it back.
 
Sorry guys, I would be more ruthless. If THEY did a mistake I keep the money in an interest account and when they ask for the capital back I'll give them back the capital... Sorry but I'm not a saint who corrects other people's sins

But certainly I wouldnt spend the overpayment because otherwise I could be liable
 

what if the bank holding the interest account defaults on the money and its lost ?
 
Same happened to me - it was not my money so I contacted them & gave it back within the following days.
 
stir crazy said:
what if the bank holding the interest account defaults on the money and its lost ?
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How could that happen? Then it's the other bank's fault sorry. Of course I would keep the capital in a v. secure account like rabo or fortis-an post...
 


What a stupid comment.

Its very simple, the money is not yours. Pay it back.
 
danboo said:
Remember the whole Northern rock thing? Well, they sent me a double payment by accident.

Can i keep it or do I have to give it back?
Click to expand...

Remember the incident in 2001/2002 when a man asked the Bank of Ireland to lodge 300,000 pesetas in his Spanish account, and the teller accidentally lodged 300,000 Euro in the account?

He was reported on the news of living it up and, to quote "take a bite of the cherry". Obviously this man didn't realise that he was a weakling when compared to the second biggest bank in the state.

Anyway, the Bank of Ireland treated the €298,000 (approx) as a short-term interest free loan. The bottom line: he had to return the money, all of it. The bank did him the favour of not charging interest.
 
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yes do listen to the Godfather. honesty is not always the best policy. stick it in a savings account and hope for the best. seeing how much the salaries are of these useless gits that run these outfits and get paid for failing in their roles, I wouldn't lose any sleep but that's me - out for myself and i welcome anything free ! - just like the big wigs at Northern Rock !
Dandoo, I could look after the money for you ?!
 

That's a bit rich quoting the person a 'Howya' and an 'ignoramus'. In case you aren't aware the mistake was made by the Bank in both cases. In all these cases the Banks spend millions on systems to avoid mistakes. And then pay enormous salaries to their staff to maintain it. I had a repayment from the Taxman some time ago and I refunded it to them. Not a word of thanks, but I had a Personal Audit the following year and they found nothing but if you can imagine someone crawling around your insides, that's what its like. Godfather, you're the man and Danboo lister to the Godfather
 
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