Urgent Advice Needed

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firsttimeted

Registered User
Messages
35
I just checked my online bank account and found that a 5 figure sum was put into my back account by mistake. If I spent it will the bank automatically be entitled to get it back?!
 
of course they are. Its not your money and you are not entitled to it. It will be found out and then what will youdo.
 
firsttimeted said:
I just checked my online bank account and found that a 5 figure sum was put into my back account by mistake. If I spent it will the bank automatically be entitled to get it back?!
Click to expand...




Moved from Mortgages and Home Buying.
 
firsttimeted said:
I just checked my online bank account and found that a 5 figure sum was put into my back account by mistake. If I spent it will the bank automatically be entitled to get it back?!
Click to expand...

Yes, banks reconcile daily. You'll find that normaly within the next working day the error will be corrected, When large sum of money are lodged into an account it would normaly take a couple of days for it to clear unless it was cash. It might appear in your bank account but you wouldnt have access to it right away.
 
...a mistake has been made. It would be dishonest to take the money. It does belong to someone.
 
You will have to inform the bank about this and they will sort it out. Don't touch the money under any circumstances.

You can be prosecuted for knowingly using the money that does not belong to you
 
Some time ago, I made a incorrect transaction into someones account on an internet banking system and the bank told me that they could take the money from the account if they were advised within 24hrs of the money hitting the account. Otherwise they actually had to ask the customer's permission to take the money back. Morally, of course you should return it but I think there may be a loophole there.
 
Do the terms & conditions of accounts normally cover this sort of unusual occurrance I wonder?
 

In terms making the correction, it would depend on who's error it was in the first place...if it were the banks error, the bank would be intitled to make the correction with or without notification.
 
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