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Bank Error, In my favour?

Dan1989

Hi,

Just checked my account online and found that i had been 'bank credited' £3,769.17

There is no name next to the credit which makes me think it has not come from anyone account, but infact a bank error?

I don't know what to do though........A few days ago i opened up the new Alliance & Leicester Premier Plus account which has a interest rate of 10% until 2009 whith a bonus of 0.75% on credit upto £50,000. I was thinking of just putting it into that account until the bank asks for it back, that way i can earn interest.

Am i doing anything illegal here? especially if i don't contact the bank and inform them?

Thanks in advance!
Dan

p.s Kinda hoping it would be like the chance cards in monopoly! 'Bank error in your favour!'

Scroll to see replies

Reply 1

robbo3045

I would leave it in the account, as you will probably find it will dissapear very soon. If they try taking it back off you and cant get the money, it wont look very good on you... as if youv noticed it and already tried spending it.

Reply 2

pasta_man_beast

It's theft and obtaining property by deception if you're using what would be in fact stolen money to gain interest. If you tell your bank they might even reward your honesty.

On the other hand they might never notice :wink:

Reply 3

crazyjoyce

move the full amount into another account and sit on it... if they ask for it back you have it to give, if not... :smile:

Reply 4

Samtooth

Its yours now, surley? Banking error or not.

Reply 5

gamer91

Pass go collect £200?

Reply 6

Muppety_Kid

pasta_man_beast

Even if you weren't getting interest on the money, I think it's still theft as soon as you realise it's not yours. It's better to own up and tell them there's been some sort of mistake - you're not losing out since it wasn't your money in the first place, and you might get £100 for the "inconvenience".

Reply 7

Annie72

Personally I"d leave it and not spend it / save it however tempting it may be. The bank will probably realise their mistake and take it back soon anyway.

Reply 8

Dionysus

Leave it where it is. You are within your rights to spend it, but they can demand all of it back immediately, and if that is impossible due to insufficient funds in your account, they can charge you informal overdraft charges etc.

Reply 9

jabed786

go to the bank and say 'my friend found like 4 grandein his bank account when he was only supposed to have 1750 pounds, if he came and reported it to you, would he get a little thank you gift for his honesty? or will the bank instantly change'

if they say they give out rewards for honesty, then go and admit it all lol or just keep it in your bank and say you never noticed.

Reply 10

2nd2god

Amount seems very simular to the amount of a student loan for tution fees.

Maybe just a coincidence but might not be.

Reply 11

Dan1989

Muppety_Kid

Surely it can't be theft as soon as i realise, as i have not acted in anyway to steal it. However i will argue that i am not going to waste my time chasing them up to remove the funds, they have taken £400 in charges from me over this year.

I might use this opportunity to settle the 'bank error' myth! See if they do infact realise that there was an error. I have done a little bit of research and from what i can see, it's only theft etc if i withdraw the money. However the account it is currently in is the one i use for d/d so would make sense to move it!

Please please be like monopoly!!

Reply 12

pasta_man_beast

Dionysus

He's not within his rights to spend it. It's not his to spend.

Reply 13

Samtooth

How is it not his to spend, its now in his bank account. Its his.

Reply 14

pasta_man_beast

Samtooth

How is it not his to spend, its now in his bank account. Its his.

Unless someone gave him it it's not his. Just because something appears in your account doesn't make it yours. If a car appeared in your driveway overnight it doesn't suddenly become yours does it?

Reply 15

Dan1989

Samtooth

How is it not his to spend, its now in his bank account. Its his.

Isn't there that saying...Possession is Nine Tenths of the law?! LOL

Reply 16

Dionysus

pasta_man_beast

He's not within his rights to spend it. It's not his to spend.

Yes it is. That doesn't change the fact that the bank can demand it back. Bank contracts are usually pretty specific on this.

Reply 17

silk192

Dan1989

it probably student loans.....did u apply for any?

Reply 18

2nd2god

If it was me I'd transfer bank account to another bank straight away

Which would make it very awkward for them to get their money back and they might just give up. as the cost of taking you to court for it might be a simular amount.

Reply 19

Hedgehunter

Don't move it to a different account, leave it there, wait 3 months if no letter spend it or move to other account. Personally I wouldnt tell the bank, its not theft they simply gave it to you!