I'm getting free money.

[un1corn]

A few months back, I checked my bank account and saw an incoming £20.00. Under the details, where it usually says 'E-on' or 'o2' or something like that, it just says 'Bolton'.

I assumed it was something I forgot about and overlooked. A month or so later, it happened again, and again and for the 4th time, it happened on August 1st.

I'm not owned money. It's not compensation, cheques or anything else. The only thing that should come in is my wages, and the occasional betting deposit, which is only a few quid here and there, if I ever win, and always marked up.

Should I be worried, and should I be doing something about it?

[PurpleMoonlight]

If it's not your money you cannot keep it.

Report it to your bank.

[Regiment]

As above, report it to the bank and confirm where this money is coming from. Just because it's in your account doesn't make it your money.

[bomb]

Its Micheal Boltons royalties from his records. He will be livid that its going into your account.

you need to report it, asap.

[un1corn]

Is there any harm in not reporting it?

I mean, if the bank rang me tomorrow and said, "we need that £80 back" then they can have it, it's still in the account.

[tumble dryer]

un1corn said:

Is there any harm in not reporting it?

I mean, if the bank rang me tomorrow and said, "we need that £80 back" then they can have it, it's still in the account.

>>>eh, where are you going with this train of thought. Roughly?

Just saying.

[Wacky Racer]

Just say you don't know anything about it, because you never look at your bank statements. (Many people don't.)

Let it accumulate to £50,000.

But don't spend it straight away, it will only end in tears...yours.

Wait till your 80 and spend it on a world cruise.

[Sheepshanks]

Regiment said:

As above, report it to the bank and confirm where this money is coming from.

This happened to my MIL for years - randomly £20/£50/£100 would appear in her account. Bank said it wasn't an error and wouldn't tell her who was paying them in.

I got someone else wages once (completely random person, not fellow employee). I told the bank and they just took it back.

[Regiment]

un1corn said:

Is there any harm in not reporting it?

I mean, if the bank rang me tomorrow and said, "we need that £80 back" then they can have it, it's still in the account.

http://www.money.co.uk/article/1005023-can-you-keep-money-accidentally-paid-into-your-bank-account.htm

It is theft.

[Pistom]

bomb said:

Its Micheal Boltons royalties from his records. He will be livid that its going into your account.

you need to report it, asap.

No it is the payment that Michael Bolton makes to those who have suffered his recordings.

[SpeedDontMatter]

un1corn said:

Is there any harm in not reporting it?

I mean, if the bank rang me tomorrow and said, "we need that £80 back" then they can have it, it's still in the account.

Just keep it..

[Simpo Two]

I wonder if there is a period after which it cannot be retrieved/reclaimed?

It is hardly 'theft' if you have not stolen it and do not know who the rightful owner is so can't return it. But equally it is not yours.

[Regiment]

Simpo Two said:

I wonder if there is a period after which it cannot be retrieved/reclaimed?

It is hardly 'theft' if you have not stolen it and do not know who the rightful owner is so can't return it. But equally it is not yours.

It is stealing, you have to make reasonable effort to report and return the money I.e. telling your bank that you're not sure where this money is coming from but believe you're getting it in error.

[longshot]

Just ignore it for now and see what happens.

[TheInternet]

Regiment said:

It is stealing

We can turn people into criminals by sending them mystery-money?

[un1corn]

I've looked up the definition of theft.

A person is guilty of theft if he dishonestly appropriates property belonging to another with the intention of permanently depriving the other of it.

Well i've done nothing dishonest (it was given me), and i'm not refusing to give it back if they want it so i'm not depriving anyone of it.

To quote Father Ted: "The money was just resting in my account!"

[TheInternet]

un1corn said:

To quote Father Ted: "The money was just resting in my account!"

Due to the way the coins and notes are moved around by the robots you will probably find your account operates a first-in-first-out system. This means that the unsolicted £20 note deposited will be the first £20 note taken out with your next purchase. This can obviously be avoided by only spending up to £20 in one go; spend any more and it's straight to jail for you.

[Regiment]

un1corn said:

I've looked up the definition of theft.

A person is guilty of theft if he dishonestly appropriates property belonging to another with the intention of permanently depriving the other of it.

Well i've done nothing dishonest (it was given me), and i'm not refusing to give it back if they want it so i'm not depriving anyone of it.

To quote Father Ted: "The money was just resting in my account!"

That's from the 1968 Theft Act, which continues...

[F124A Dishonestly retaining a wrongful credit.

(1)A person is guilty of an offence if—
(a)a wrongful credit has been made to an account kept by him or in respect of which he has any right or interest;
(b)he knows or believes that the credit is wrongful; and
(c)he dishonestly fails to take such steps as are reasonable in the circumstances to secure that the credit is cancelled.
(2)References to a credit are to a credit of an amount of money.
[F2(2A)A credit to an account is wrongful to the extent that it derives from—
(a)theft;
(b)blackmail;
(c)fraud (contrary to section 1 of the Fraud Act 2006); or
(d)stolen goods.]
F2(3)F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)In determining whether a credit to an account is wrongful, it is immaterial (in particular) whether the account is overdrawn before or after the credit is made.
(6)A person guilty of an offence under this section shall be liable on conviction on indictment to imprisonment for a term not exceeding ten years.
(7)Subsection (8) below applies for purposes of provisions of this Act relating to stolen goods (including [F4subsection (2A)]F4 above).
(8)References to stolen goods include money which is dishonestly withdrawn from an account to which a wrongful credit has been made, but only to the extent that the money derives from the credit.
[F5(9)“Account” means an account kept with—
(a)a bank;
(b)a person carrying on a business which falls within subsection (10) below; or
(c)an issuer of electronic money (as defined for the purposes of Part 2 of the Financial Services and Markets Act 2000).
(10)A business falls within this subsection if—
(a)in the course of the business money received by way of deposit is lent to others; or
(b)any other activity of the business is financed, wholly or to any material extent, out of the capital of or the interest on money received by way of deposit.
(11)References in subsection (10) above to a deposit must be read with—
(a)section 22 of the Financial Services and Markets Act 2000;
(b)any relevant order under that section; and
(c)Schedule 2 to that Act;but any restriction on the meaning of deposit which arises from the identity of the person making it is to be disregarded.


I'm not a lawyer, nor have I studied law, but everytime this has come up, it's the same, you need to make reasonable effort to find out why you received the money and if it was in error.

There have been stories of people getting millions accidentally put into their account, the money doesn't belong to them so withdrawing it all and doing a runner will make you a bungling idiot and a bank robber.

Edited by Regiment on Saturday 9th August 15:13

[H22observer]

un1corn said:

Is there any harm in not reporting it?

I mean, if the bank rang me tomorrow and said, "we need that £80 back" then they can have it, it's still in the account.

Similar thing happened to me a few months ago. I just ignored it.

Tescobank sent me a credit for £25, but repeated the transaction 20 times.

The £525 sat in my bank account for about 5 weeks, then suddenly disappeared.

Good job i didn't spend it, otherwise i would have been overdrawn.

[ellroy]

Pistom said:

No it is the payment that Michael Bolton makes to those who have suffered his recordings.

In which case where's my bloody money?