October 23, 2006 7:10 AM Subscribe
Bank errors in my favour?
posted by brautigan to Work & Money (21 answers total) 1 user marked this as a favorite
On May 18th this year £1000.00 was deposited in my current account by BACs payment from a company IM Other, presumably by mistake (unless I have a secret benefactor). I didn't notice the extra payment for a week or so afterwards and when I did I just waited for it's inevitable withdrawal by the bank. The amount was never removed.
Today, exactly the same thing has happened, a £1000.00 deposit from the same company has been made to my account.
Obviously the right thing to do was to report the initial mistake and return the money. But I didn't and I'll thank you to save the moralising for another time.
Question is do I report the second mistake and end up returning both payments or wait and see if it's reclaimed this time?
Also is there a time limit on these things and are they likely to spot the error at the end of the financial year regardless? I assume they always find out? Or do they?