Money paid incorrectly into my account - not mine

[Nuclear Biscuit]

A large incorrect transfer into our account would cause fairly high level of grief. We have a an offset mortgage at 1.45% and if the overall balance goes positive by more than a certain margin, the mortgage is cancelled. Transferring the money back would be impossible without remortgaging at what would be a much higher rate.

I doubt my current mortgage provider would be keen to reinstate the mortgage at that rate.

[twoblacklines]

bearman68 said:

Actually I did this in reverse, and deposited a similar amount in the wrong account. When I noticed, I contacted the bank, as did the receiver.
They told me that there was nothing that could be done, and in essence I had gifted £4k to that person, and there was no legal way of recovering.

Now I'm not suggesting for a moment that you party away - I think you morals and sense of justice are spot on, but it does make you think.

Since then I have transferred £0.50pence into accounts to check that all is OK, before transferring even hundreds.

Mind you, I reckon someone will have a red face when they find out.......

LOL all that happened there was their bank took it off them and kept it because you didn't chase it up properly!