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[stuart30]

Just a theoretical question.

Someone has a current account with a high street bank...one day a sum of money arrives in the persons bank.

Money is not touched as sure bank would take money back.....3 months later same happens....money is then spent and same happens again,3 months money appears in account.

Same keeps happening over nearly two years....bank has never asked for it back so assume the company paying hasn't questioned where its gone and same with the person whom it was destined for.

Question is...if money was withdrawn and spent is that fraud...baring in mind its never been asked for.

[Vamps]

There must be a time frame when the bank can reclaim the money, think i would be looking into that.

[stuart30]

There must be a time frame when the bank can reclaim the money, think i would be looking into that.

well i was told by someone who listens too The money programme on Radio 4 that its not actually the banks responsabilty too reclaim wrong payments....apparently its the company who should have recieved it.

Odd i know but thats what they said. :-/

[willyboy]

Dunno really but not sure how all banks chase up errors a friend was waiting for a cheque for £8ooo from a major bank it was taking ages to arrive so he got in touch with them saying come on I need the money asap ,so they sent out another chque for £8ooo  he cashed it, a short time after the first cheque arrived so he just kept it for a few months & cashed it !! that was about 5yrs ago, never heard anything from the bank to this day !

[albitz]

I may be wrong but i remember something about a 7 year limit on things like this. :-/

[rickyboy]

Think the rules changed on this a couple of years ago but not entirely sure.  It used to be that the money was yours if the bank didn't claim it back in a short time.  I heard that now they can pretty much claim it back whenever.

I've had experience of this.  I had £3,500 appear in my credit card statement - I then foolishly phoned them up and told them about it.  After they removed it I went overdrawn and they shafted me with bank charges.  If any money appears in my accounts again which isn't mine I'll be withdrawing the lot and putting it into another account.

[stuart30]

Ok so slight change of direction....would it be a police matter.?

Assuming the bank/person paying/person who should have recieved twigs and asks for it back would it be kept in house if you agreed too repay monthly or could they take legal action.

If account was closed and money was tried to be paid into and resulted in being returned is it likely the bank/sender would track where it had been going.??

[JamesV6CDX]

Ok so slight change of direction....would it be a police matter.?

Assuming the bank/person paying/person who should have recieved twigs and asks for it back would it be kept in house if you agreed too repay monthly or could they take legal action.

If account was closed and money was tried to be paid into and resulted in being returned is it likely the bank/sender would track where it had been going.??

I believe it would be more a civil matter than fraud, on the basis that the reciever of the funds has not "planned" the deception etc - however, at the end of the day if the person kept the cash he is acting dishonestly, because it's not his to keep, therefore he can expect at best to be ordered to give it back, if it gets formal.

[Mr Skrunts]

Could be a dodgy one, as the money has been with drawn dishonestly.  Reason being, the account holder knows its not thiers and therefore should have mentioned it.

But.  I would have withdrawn it and put it in an interest bearing account, yhen if the money was requested back at least there would have been something gained for looking fter it carefully.

Banks are funny things, all the rules tend to be in thier favour. :-/

[JamesV6CDX]

the money has been with drawn dishonestly.  Reason being, the account holder knows its not thiers and therefore should have mentioned it.

Nail on the head...

Bottom line, I'm not sure the Police would get "involved" to an intimate degree, but I don't think the "keeper" of the funds would do too well in court

[stuart30]

the money has been with drawn dishonestly.  Reason being, the account holder knows its not thiers and therefore should have mentioned it.

Nail on the head...

Bottom line, I'm not sure the Police would get "involved" to an intimate degree, but I don't think the "keeper" of the funds would do too well in court

If bank said ""you have had 10k that's not yours"" and receiver said ""i"ll pay it back at xxx per month"" then doesn't that count as agreeing too repay....like when you owe back council tax or behind with loan payments ect.

[HolyCount]

the money has been with drawn dishonestly.  Reason being, the account holder knows its not thiers and therefore should have mentioned it.

Nail on the head...

Bottom line, I'm not sure the Police would get "involved" to an intimate degree, but I don't think the "keeper" of the funds would do too well in court

If bank said ""you have had 10k that's not yours"" and receiver said ""i"ll pay it back at xxx per month"" then doesn't that count as agreeing too repay....like when you owe back council tax or behind with loan payments ect.

If they agreed to a repayment plan they would most likely add in interest charges from day one -- could get expensive ---- bear in mind ( from the banks point of view), you should have said on day one, "Hey this money isn't mine , take it back"

[Debs.]

the money has been with drawn dishonestly.  Reason being, the account holder knows its not thiers and therefore should have mentioned it.

Nail on the head...

Bottom line, I'm not sure the Police would get "involved" to an intimate degree, but I don't think the "keeper" of the funds would do too well in court

If bank said ""you have had 10k that's not yours"" and receiver said ""i"ll pay it back at xxx per month"" then doesn't that count as agreeing too repay....like when you owe back council tax or behind with loan payments ect.

If they agreed to a repayment plan they would most likely add in interest charges from day one -- could get expensive ---- bear in miond ( from the banks point of view), you should have said on day one, "Hey this money isn't mine , take it back"

As I would also view it!

[Elite Pete]

There's nothing to stop the person putting the money into a high interest account for safe keeping

[psychnurse]

Keep it... close the account. Then keep quite