Donald S
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First off, do not think that you have found 5000. more then likely the bank will find and fix the error with a week.
I do not know the legality of the country you are in (using puond symbol I assume England) but in the U.S. the bank has the legal right to fix the error and remove the amount that was overcredited. and they have a long time to fix it. If you take the cash out. they are able to sue to get their money back, and they will win. |
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Diane L
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Yes, call them, do the right thing, you wouldn't want to lose 5,000. They probably will find the error at some point. I don't the legality of this situation.
Diane |
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Judy1
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Yes you should be honest and give them a call.
They are almost sure to catch the error, find where it went, and take it back out of your account anyway. |
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elaeblue
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You really have an obligation to tell the bank an error has happened. Think about the person who really owns this money - it could be all they have or they could need it really badly. |
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bull_rooster_aardvark
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This happened to the business where I worked a while back. They figured out the error a while later and took back the money. May as well call them and be honest as they will figure this out eventually. If you close the account and spend the money they will come after you for it, so I definitely wouldn't go that route. |
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Richard J
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you have to give it back, there was a case in court and it boiled down to whether the person KNEW that a mistake had been made, it went against him in court. |
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laura_popple
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Sadly, it's certainly best to speak to your bank.
My partner once got £500 put into his bank account, he checked and checked again and they said it was valid and legally his...
2 months later they withdrew £500 from his bank account, stating that the money they'd put in originally wasn't his and had to reclaim it.
I have no idea about the specifics (he's not here to ask) but just be careful and cover your back :) |
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Terry
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Suppose the bank had only credited 300 -what would you do then? Why is this situation any different?
The law is with the bank. They will discover the error, and they will take the money back out of your account. If you spend it, you will likely end up with an overdraft and paying fees. |
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Patricia B
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Keep checking your account,
Remember what goes around comes around if you can gain this way next time you could lose and it may be when you can least afford it |
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annemumborumbo
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Speak to the bank. It is legally theirs.
I was overpaid at work once, went on for several months. I didn't know as I was working part time at a school and it is pro rated over the amount of days you work (less because of school hols). They took the money back - even though I didn't know and had spent it. They did take it back a bit each month. I took legal advice and it was their money even though it was their error and nothing I could do. |
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keyey k
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give it back they will find out |
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shih tzu lady
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They will catch up with the error eventually so dont go spending it! You wont get away with it so it may be better to be honest about it - at least you'll have a good reputation with your bank. What a bummer though! |
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vera-ann
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By law no -one is allowed to profit from a bank error. It will be foud out sooner or later - best to call in and speak to them. |
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claimbankchargesback
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I think legally you`d have to tell the bank, as you know the money isn't yours.
Whatever you decide don't spend it, as they could ask for it back at any time. I would think you`d be entitled to keep the interest it earnt in the mean time though :-) |
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Mrsashko
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the money is yours...
but if they will discover an error -- they can (and will) put a correction in to your account, and you will have no say in it.
But in general-- it's their problem that they made a mistake. |
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Hoodoo
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I wouldn't tell the bank they have made the error just play along with it. Anyway what is 5k to them they look after millions and millions. |
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Flying_james
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One side of me says, take the money & run. But the practical side of me that understands the works of the ever swinging pendulum says otherwise. You would probably get away with it if you just pulled the funds out of the account, but in my opinion it is not the right thing to do. |
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