Withdrew £2800, but only £2000 shows as withdrawn on online banking; what are my obligations?
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I just withdrew £2800 from the bank. Looking at my online banking, there is only a withdrawal of £2000 listed. The form I signed said the amount I asked for, and the teller weighed the cash out on the scales to show the true amount, so my best guess is that she typoed it when entering it into the system.
Presumably this will be noticed at some point since the amount in the system is different to the form, but what are my obligations in the meantime? If I put the "missing" money in some sort of high yield account would I be able to keep any interest accrued? Should I inform the bank or let it slide until it is noticed? In the unlikely event that it's never flagged up, would not mentioning it be theft?
united-kingdom banking withdrawal
New contributor
|
show 14 more comments
I just withdrew £2800 from the bank. Looking at my online banking, there is only a withdrawal of £2000 listed. The form I signed said the amount I asked for, and the teller weighed the cash out on the scales to show the true amount, so my best guess is that she typoed it when entering it into the system.
Presumably this will be noticed at some point since the amount in the system is different to the form, but what are my obligations in the meantime? If I put the "missing" money in some sort of high yield account would I be able to keep any interest accrued? Should I inform the bank or let it slide until it is noticed? In the unlikely event that it's never flagged up, would not mentioning it be theft?
united-kingdom banking withdrawal
New contributor
8
"weighed the cash" ?? Were you withdrawing the cash in coins or one-pound notes and 2800 of them were too many to count?
– Dilip Sarwate
15 hours ago
10
I would suggest informing the bank, else the teller might be in trouble perhaps even dismissed from her job for theft, when the discrepancy comes to light when her cash drawer doesn't match up.
– Dilip Sarwate
15 hours ago
5
Another possibilitity is that it's gone through in two transactions, one for £2k and one for £800, and the second one just hasn't shown up yet. I'd give it a couple of days and then inform the bank if it still hasn't shown up.
– Vicky
14 hours ago
5
@chepner There is a reason to wait, which is that as a rule of thumb it is annoying and time-consuming to get hold of the bank and specifically to talk to someone who can actually help rather than work through a script. If it shows up in your statement the meantime you've saved yourself the nuisance of trying to get through to them.
– Vicky
14 hours ago
11
You know what else is annoying? Being held responsible for the missing £800 until my customer can be bothered to report the discrepancy.
– chepner
13 hours ago
|
show 14 more comments
I just withdrew £2800 from the bank. Looking at my online banking, there is only a withdrawal of £2000 listed. The form I signed said the amount I asked for, and the teller weighed the cash out on the scales to show the true amount, so my best guess is that she typoed it when entering it into the system.
Presumably this will be noticed at some point since the amount in the system is different to the form, but what are my obligations in the meantime? If I put the "missing" money in some sort of high yield account would I be able to keep any interest accrued? Should I inform the bank or let it slide until it is noticed? In the unlikely event that it's never flagged up, would not mentioning it be theft?
united-kingdom banking withdrawal
New contributor
I just withdrew £2800 from the bank. Looking at my online banking, there is only a withdrawal of £2000 listed. The form I signed said the amount I asked for, and the teller weighed the cash out on the scales to show the true amount, so my best guess is that she typoed it when entering it into the system.
Presumably this will be noticed at some point since the amount in the system is different to the form, but what are my obligations in the meantime? If I put the "missing" money in some sort of high yield account would I be able to keep any interest accrued? Should I inform the bank or let it slide until it is noticed? In the unlikely event that it's never flagged up, would not mentioning it be theft?
united-kingdom banking withdrawal
united-kingdom banking withdrawal
New contributor
New contributor
edited 14 hours ago
a CVn
4,1971829
4,1971829
New contributor
asked 16 hours ago
JaloopaJaloopa
14612
14612
New contributor
New contributor
8
"weighed the cash" ?? Were you withdrawing the cash in coins or one-pound notes and 2800 of them were too many to count?
– Dilip Sarwate
15 hours ago
10
I would suggest informing the bank, else the teller might be in trouble perhaps even dismissed from her job for theft, when the discrepancy comes to light when her cash drawer doesn't match up.
– Dilip Sarwate
15 hours ago
5
Another possibilitity is that it's gone through in two transactions, one for £2k and one for £800, and the second one just hasn't shown up yet. I'd give it a couple of days and then inform the bank if it still hasn't shown up.
– Vicky
14 hours ago
5
@chepner There is a reason to wait, which is that as a rule of thumb it is annoying and time-consuming to get hold of the bank and specifically to talk to someone who can actually help rather than work through a script. If it shows up in your statement the meantime you've saved yourself the nuisance of trying to get through to them.
– Vicky
14 hours ago
11
You know what else is annoying? Being held responsible for the missing £800 until my customer can be bothered to report the discrepancy.
– chepner
13 hours ago
|
show 14 more comments
8
"weighed the cash" ?? Were you withdrawing the cash in coins or one-pound notes and 2800 of them were too many to count?
– Dilip Sarwate
15 hours ago
10
I would suggest informing the bank, else the teller might be in trouble perhaps even dismissed from her job for theft, when the discrepancy comes to light when her cash drawer doesn't match up.
– Dilip Sarwate
15 hours ago
5
Another possibilitity is that it's gone through in two transactions, one for £2k and one for £800, and the second one just hasn't shown up yet. I'd give it a couple of days and then inform the bank if it still hasn't shown up.
– Vicky
14 hours ago
5
@chepner There is a reason to wait, which is that as a rule of thumb it is annoying and time-consuming to get hold of the bank and specifically to talk to someone who can actually help rather than work through a script. If it shows up in your statement the meantime you've saved yourself the nuisance of trying to get through to them.
– Vicky
14 hours ago
11
You know what else is annoying? Being held responsible for the missing £800 until my customer can be bothered to report the discrepancy.
– chepner
13 hours ago
8
8
"weighed the cash" ?? Were you withdrawing the cash in coins or one-pound notes and 2800 of them were too many to count?
– Dilip Sarwate
15 hours ago
"weighed the cash" ?? Were you withdrawing the cash in coins or one-pound notes and 2800 of them were too many to count?
– Dilip Sarwate
15 hours ago
10
10
I would suggest informing the bank, else the teller might be in trouble perhaps even dismissed from her job for theft, when the discrepancy comes to light when her cash drawer doesn't match up.
– Dilip Sarwate
15 hours ago
I would suggest informing the bank, else the teller might be in trouble perhaps even dismissed from her job for theft, when the discrepancy comes to light when her cash drawer doesn't match up.
– Dilip Sarwate
15 hours ago
5
5
Another possibilitity is that it's gone through in two transactions, one for £2k and one for £800, and the second one just hasn't shown up yet. I'd give it a couple of days and then inform the bank if it still hasn't shown up.
– Vicky
14 hours ago
Another possibilitity is that it's gone through in two transactions, one for £2k and one for £800, and the second one just hasn't shown up yet. I'd give it a couple of days and then inform the bank if it still hasn't shown up.
– Vicky
14 hours ago
5
5
@chepner There is a reason to wait, which is that as a rule of thumb it is annoying and time-consuming to get hold of the bank and specifically to talk to someone who can actually help rather than work through a script. If it shows up in your statement the meantime you've saved yourself the nuisance of trying to get through to them.
– Vicky
14 hours ago
@chepner There is a reason to wait, which is that as a rule of thumb it is annoying and time-consuming to get hold of the bank and specifically to talk to someone who can actually help rather than work through a script. If it shows up in your statement the meantime you've saved yourself the nuisance of trying to get through to them.
– Vicky
14 hours ago
11
11
You know what else is annoying? Being held responsible for the missing £800 until my customer can be bothered to report the discrepancy.
– chepner
13 hours ago
You know what else is annoying? Being held responsible for the missing £800 until my customer can be bothered to report the discrepancy.
– chepner
13 hours ago
|
show 14 more comments
4 Answers
4
active
oldest
votes
Technically, you have no obligations.
You asked £2800 to your bank, satisfied your bank requirements (ID, having the funds, whatever) and you were handed £2800. You never lied or misrepresented anything and always acted in good faith. You are not required to connect to your online banking to double check the teller's work.
Now, that does not mean that you have won £800. The bank will notice the mistake and will put quite some effort in solving it, not only because of the money but because they want to make clear that the money is always under control (otherwise some employees may begin having bad ideas).
A £800 mistake is unlikely to go unnoticed in a small transaction, and there are probably very few transactions each day comparable to yours, so by the time the bank closes its doors they will probably know what did happen.
They can correct the movement by themselves (either by modifying it or by adding a new withdrawal); perhaps they will inform you (I am betting they will say nothing, because it will not affect you and maybe you will not notice it and nobody likes recognizing mistakes).
In any case, do not try to outsmart a bank. I know of some case (in Spain) when the teller mistakenly wrote an absurdly high amount for a deposit and, when it was corrected, the customer tried to use the receipts to claim that he had indeed made such a high deposit. The bank sued the customer for fraud. Banks do have lawyers, and banks do not have sense of humour. For example, do not try to withdraw all of your money before the bank discovers the mistake, and if the bank calss you and asks about how much money you did withdraw, answer sincerely.
Of course, apart from the obligations, you could always call the bank office and tell them what did happen, as a nicety to them and to save them some extra work and let them know that the issue will be solved in a civilized way.
15
+1 for "Banks do have lawyers, and banks do not have sense of humour." It is odd how many people seem unclear on this, as if banks were not concerned above all with keeping careful track of money.
– Spike0xff
10 hours ago
4
But what about if the customer had never noticed. If this happened to me (it may well have in the past!) I wouldn't even notice. My wife and teenagers would have spent the money before anyone got to breathe twice. And I'm drunk most of the time. If the bank came to me a week later and said "we accidentally gave you 800 units" what would happen??
– Fattie
8 hours ago
6
@Fattie They would correct the error in your account. For example if you asked to withdraw 2000 but they gave you 2800 by accident and didn't notice they would correct the error by subtracting the 800 you were given from your account. If your account was lacking the funds, you'd likely owe them the 800 whether or not you'd spent it already.
– JustAnotherSoul
8 hours ago
@JustAnotherSoul: If you'd asked for 2000 and gotten 2800 by mistake, it's questionable whether they'd have evidence to establish that you were actually given 2800, and trying to claw it back could become a nasty fight. But since OP wrote 2800 on the form and received 2800, their case is pretty clear for the bank to just correct on the account.
– R..
4 hours ago
add a comment |
Do you want a legal opinion or a moral one?
Morally
You should notify them as soon as possible or else some poor employee is gonna have a really, really bad day/week/month/year.
Legally
You don't have to do anything until they question you about the transaction. However, once it comes to light then you had better be ready to either have an additional £800 withdrawn from your account or give them the £800 in cash. They may even freeze your account until the investigation is over.
2
I don't expect the employee will have a really, really bad day. It sounds like there's a signed paper copy of the withdrawal form. In that case, when they find the discrepancy between the teller's cash drawer and the records, they'll go through the paper forms, and when they find the typo, they'll fix it.
– Mark
6 hours ago
add a comment |
Let's have a go at answering the three questions posed in a factual manner.
If I put the "missing" money in some sort of high yield account would I be able to keep any interest accrued?
Yes - no problem with that.
Why?
Cash, indeed fiat money, is fungible - and I know that because I read fancy books on monetary theory!
There's no difference between "that" 800 and any other.
Should I inform the bank or let it slide until it is noticed?
I don't see that you have any obligation whatsoever to inform them, unless in your agreements with the bank, there's a clause saying that you should inform them in case of errors.
If there is no such clause in your contracts with the bank, then you simply have no obligation.
In the unlikely event that it's never flagged up, would not mentioning it be theft?
That is a very difficult legal question. (1) Jurisdiction? (2) You'd have to ask some real experts .. law.SE.
1
You could always put it in a high yield account with the same bank; the money would be there for them to reclaim as soon as they sorted it out, if it's in their account you're not trying to spend it (immediately at least), and in the meantime you're making a couple extra pence (which of course they're profiting from too -- banks don't pay interest out of the goodness of their hearts, they just give you a share of the proceeds).
– Doktor J
7 hours ago
add a comment |
As other answers mentioned, the bank will eventually find out and likely just withdraw the £800 from your accounts without notice.
Therefore, I would suggest that you make sure that you have >£800 balance in your account until this happens to avoid being charged any overage fees.
If a customer asks the bank how much money is in the account and is told an incorrect number because of the bank's mistake, and the customer acts upon a good faith belief that the number given was correct, the bank should not be allowed to profit from its mistake. On the other hand, a customer that notices a mistake could no longer act upon a good faith belief that the number had been correct.
– supercat
34 mins ago
add a comment |
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4 Answers
4
active
oldest
votes
4 Answers
4
active
oldest
votes
active
oldest
votes
active
oldest
votes
Technically, you have no obligations.
You asked £2800 to your bank, satisfied your bank requirements (ID, having the funds, whatever) and you were handed £2800. You never lied or misrepresented anything and always acted in good faith. You are not required to connect to your online banking to double check the teller's work.
Now, that does not mean that you have won £800. The bank will notice the mistake and will put quite some effort in solving it, not only because of the money but because they want to make clear that the money is always under control (otherwise some employees may begin having bad ideas).
A £800 mistake is unlikely to go unnoticed in a small transaction, and there are probably very few transactions each day comparable to yours, so by the time the bank closes its doors they will probably know what did happen.
They can correct the movement by themselves (either by modifying it or by adding a new withdrawal); perhaps they will inform you (I am betting they will say nothing, because it will not affect you and maybe you will not notice it and nobody likes recognizing mistakes).
In any case, do not try to outsmart a bank. I know of some case (in Spain) when the teller mistakenly wrote an absurdly high amount for a deposit and, when it was corrected, the customer tried to use the receipts to claim that he had indeed made such a high deposit. The bank sued the customer for fraud. Banks do have lawyers, and banks do not have sense of humour. For example, do not try to withdraw all of your money before the bank discovers the mistake, and if the bank calss you and asks about how much money you did withdraw, answer sincerely.
Of course, apart from the obligations, you could always call the bank office and tell them what did happen, as a nicety to them and to save them some extra work and let them know that the issue will be solved in a civilized way.
15
+1 for "Banks do have lawyers, and banks do not have sense of humour." It is odd how many people seem unclear on this, as if banks were not concerned above all with keeping careful track of money.
– Spike0xff
10 hours ago
4
But what about if the customer had never noticed. If this happened to me (it may well have in the past!) I wouldn't even notice. My wife and teenagers would have spent the money before anyone got to breathe twice. And I'm drunk most of the time. If the bank came to me a week later and said "we accidentally gave you 800 units" what would happen??
– Fattie
8 hours ago
6
@Fattie They would correct the error in your account. For example if you asked to withdraw 2000 but they gave you 2800 by accident and didn't notice they would correct the error by subtracting the 800 you were given from your account. If your account was lacking the funds, you'd likely owe them the 800 whether or not you'd spent it already.
– JustAnotherSoul
8 hours ago
@JustAnotherSoul: If you'd asked for 2000 and gotten 2800 by mistake, it's questionable whether they'd have evidence to establish that you were actually given 2800, and trying to claw it back could become a nasty fight. But since OP wrote 2800 on the form and received 2800, their case is pretty clear for the bank to just correct on the account.
– R..
4 hours ago
add a comment |
Technically, you have no obligations.
You asked £2800 to your bank, satisfied your bank requirements (ID, having the funds, whatever) and you were handed £2800. You never lied or misrepresented anything and always acted in good faith. You are not required to connect to your online banking to double check the teller's work.
Now, that does not mean that you have won £800. The bank will notice the mistake and will put quite some effort in solving it, not only because of the money but because they want to make clear that the money is always under control (otherwise some employees may begin having bad ideas).
A £800 mistake is unlikely to go unnoticed in a small transaction, and there are probably very few transactions each day comparable to yours, so by the time the bank closes its doors they will probably know what did happen.
They can correct the movement by themselves (either by modifying it or by adding a new withdrawal); perhaps they will inform you (I am betting they will say nothing, because it will not affect you and maybe you will not notice it and nobody likes recognizing mistakes).
In any case, do not try to outsmart a bank. I know of some case (in Spain) when the teller mistakenly wrote an absurdly high amount for a deposit and, when it was corrected, the customer tried to use the receipts to claim that he had indeed made such a high deposit. The bank sued the customer for fraud. Banks do have lawyers, and banks do not have sense of humour. For example, do not try to withdraw all of your money before the bank discovers the mistake, and if the bank calss you and asks about how much money you did withdraw, answer sincerely.
Of course, apart from the obligations, you could always call the bank office and tell them what did happen, as a nicety to them and to save them some extra work and let them know that the issue will be solved in a civilized way.
15
+1 for "Banks do have lawyers, and banks do not have sense of humour." It is odd how many people seem unclear on this, as if banks were not concerned above all with keeping careful track of money.
– Spike0xff
10 hours ago
4
But what about if the customer had never noticed. If this happened to me (it may well have in the past!) I wouldn't even notice. My wife and teenagers would have spent the money before anyone got to breathe twice. And I'm drunk most of the time. If the bank came to me a week later and said "we accidentally gave you 800 units" what would happen??
– Fattie
8 hours ago
6
@Fattie They would correct the error in your account. For example if you asked to withdraw 2000 but they gave you 2800 by accident and didn't notice they would correct the error by subtracting the 800 you were given from your account. If your account was lacking the funds, you'd likely owe them the 800 whether or not you'd spent it already.
– JustAnotherSoul
8 hours ago
@JustAnotherSoul: If you'd asked for 2000 and gotten 2800 by mistake, it's questionable whether they'd have evidence to establish that you were actually given 2800, and trying to claw it back could become a nasty fight. But since OP wrote 2800 on the form and received 2800, their case is pretty clear for the bank to just correct on the account.
– R..
4 hours ago
add a comment |
Technically, you have no obligations.
You asked £2800 to your bank, satisfied your bank requirements (ID, having the funds, whatever) and you were handed £2800. You never lied or misrepresented anything and always acted in good faith. You are not required to connect to your online banking to double check the teller's work.
Now, that does not mean that you have won £800. The bank will notice the mistake and will put quite some effort in solving it, not only because of the money but because they want to make clear that the money is always under control (otherwise some employees may begin having bad ideas).
A £800 mistake is unlikely to go unnoticed in a small transaction, and there are probably very few transactions each day comparable to yours, so by the time the bank closes its doors they will probably know what did happen.
They can correct the movement by themselves (either by modifying it or by adding a new withdrawal); perhaps they will inform you (I am betting they will say nothing, because it will not affect you and maybe you will not notice it and nobody likes recognizing mistakes).
In any case, do not try to outsmart a bank. I know of some case (in Spain) when the teller mistakenly wrote an absurdly high amount for a deposit and, when it was corrected, the customer tried to use the receipts to claim that he had indeed made such a high deposit. The bank sued the customer for fraud. Banks do have lawyers, and banks do not have sense of humour. For example, do not try to withdraw all of your money before the bank discovers the mistake, and if the bank calss you and asks about how much money you did withdraw, answer sincerely.
Of course, apart from the obligations, you could always call the bank office and tell them what did happen, as a nicety to them and to save them some extra work and let them know that the issue will be solved in a civilized way.
Technically, you have no obligations.
You asked £2800 to your bank, satisfied your bank requirements (ID, having the funds, whatever) and you were handed £2800. You never lied or misrepresented anything and always acted in good faith. You are not required to connect to your online banking to double check the teller's work.
Now, that does not mean that you have won £800. The bank will notice the mistake and will put quite some effort in solving it, not only because of the money but because they want to make clear that the money is always under control (otherwise some employees may begin having bad ideas).
A £800 mistake is unlikely to go unnoticed in a small transaction, and there are probably very few transactions each day comparable to yours, so by the time the bank closes its doors they will probably know what did happen.
They can correct the movement by themselves (either by modifying it or by adding a new withdrawal); perhaps they will inform you (I am betting they will say nothing, because it will not affect you and maybe you will not notice it and nobody likes recognizing mistakes).
In any case, do not try to outsmart a bank. I know of some case (in Spain) when the teller mistakenly wrote an absurdly high amount for a deposit and, when it was corrected, the customer tried to use the receipts to claim that he had indeed made such a high deposit. The bank sued the customer for fraud. Banks do have lawyers, and banks do not have sense of humour. For example, do not try to withdraw all of your money before the bank discovers the mistake, and if the bank calss you and asks about how much money you did withdraw, answer sincerely.
Of course, apart from the obligations, you could always call the bank office and tell them what did happen, as a nicety to them and to save them some extra work and let them know that the issue will be solved in a civilized way.
edited 13 hours ago
answered 13 hours ago
SJuan76SJuan76
5038
5038
15
+1 for "Banks do have lawyers, and banks do not have sense of humour." It is odd how many people seem unclear on this, as if banks were not concerned above all with keeping careful track of money.
– Spike0xff
10 hours ago
4
But what about if the customer had never noticed. If this happened to me (it may well have in the past!) I wouldn't even notice. My wife and teenagers would have spent the money before anyone got to breathe twice. And I'm drunk most of the time. If the bank came to me a week later and said "we accidentally gave you 800 units" what would happen??
– Fattie
8 hours ago
6
@Fattie They would correct the error in your account. For example if you asked to withdraw 2000 but they gave you 2800 by accident and didn't notice they would correct the error by subtracting the 800 you were given from your account. If your account was lacking the funds, you'd likely owe them the 800 whether or not you'd spent it already.
– JustAnotherSoul
8 hours ago
@JustAnotherSoul: If you'd asked for 2000 and gotten 2800 by mistake, it's questionable whether they'd have evidence to establish that you were actually given 2800, and trying to claw it back could become a nasty fight. But since OP wrote 2800 on the form and received 2800, their case is pretty clear for the bank to just correct on the account.
– R..
4 hours ago
add a comment |
15
+1 for "Banks do have lawyers, and banks do not have sense of humour." It is odd how many people seem unclear on this, as if banks were not concerned above all with keeping careful track of money.
– Spike0xff
10 hours ago
4
But what about if the customer had never noticed. If this happened to me (it may well have in the past!) I wouldn't even notice. My wife and teenagers would have spent the money before anyone got to breathe twice. And I'm drunk most of the time. If the bank came to me a week later and said "we accidentally gave you 800 units" what would happen??
– Fattie
8 hours ago
6
@Fattie They would correct the error in your account. For example if you asked to withdraw 2000 but they gave you 2800 by accident and didn't notice they would correct the error by subtracting the 800 you were given from your account. If your account was lacking the funds, you'd likely owe them the 800 whether or not you'd spent it already.
– JustAnotherSoul
8 hours ago
@JustAnotherSoul: If you'd asked for 2000 and gotten 2800 by mistake, it's questionable whether they'd have evidence to establish that you were actually given 2800, and trying to claw it back could become a nasty fight. But since OP wrote 2800 on the form and received 2800, their case is pretty clear for the bank to just correct on the account.
– R..
4 hours ago
15
15
+1 for "Banks do have lawyers, and banks do not have sense of humour." It is odd how many people seem unclear on this, as if banks were not concerned above all with keeping careful track of money.
– Spike0xff
10 hours ago
+1 for "Banks do have lawyers, and banks do not have sense of humour." It is odd how many people seem unclear on this, as if banks were not concerned above all with keeping careful track of money.
– Spike0xff
10 hours ago
4
4
But what about if the customer had never noticed. If this happened to me (it may well have in the past!) I wouldn't even notice. My wife and teenagers would have spent the money before anyone got to breathe twice. And I'm drunk most of the time. If the bank came to me a week later and said "we accidentally gave you 800 units" what would happen??
– Fattie
8 hours ago
But what about if the customer had never noticed. If this happened to me (it may well have in the past!) I wouldn't even notice. My wife and teenagers would have spent the money before anyone got to breathe twice. And I'm drunk most of the time. If the bank came to me a week later and said "we accidentally gave you 800 units" what would happen??
– Fattie
8 hours ago
6
6
@Fattie They would correct the error in your account. For example if you asked to withdraw 2000 but they gave you 2800 by accident and didn't notice they would correct the error by subtracting the 800 you were given from your account. If your account was lacking the funds, you'd likely owe them the 800 whether or not you'd spent it already.
– JustAnotherSoul
8 hours ago
@Fattie They would correct the error in your account. For example if you asked to withdraw 2000 but they gave you 2800 by accident and didn't notice they would correct the error by subtracting the 800 you were given from your account. If your account was lacking the funds, you'd likely owe them the 800 whether or not you'd spent it already.
– JustAnotherSoul
8 hours ago
@JustAnotherSoul: If you'd asked for 2000 and gotten 2800 by mistake, it's questionable whether they'd have evidence to establish that you were actually given 2800, and trying to claw it back could become a nasty fight. But since OP wrote 2800 on the form and received 2800, their case is pretty clear for the bank to just correct on the account.
– R..
4 hours ago
@JustAnotherSoul: If you'd asked for 2000 and gotten 2800 by mistake, it's questionable whether they'd have evidence to establish that you were actually given 2800, and trying to claw it back could become a nasty fight. But since OP wrote 2800 on the form and received 2800, their case is pretty clear for the bank to just correct on the account.
– R..
4 hours ago
add a comment |
Do you want a legal opinion or a moral one?
Morally
You should notify them as soon as possible or else some poor employee is gonna have a really, really bad day/week/month/year.
Legally
You don't have to do anything until they question you about the transaction. However, once it comes to light then you had better be ready to either have an additional £800 withdrawn from your account or give them the £800 in cash. They may even freeze your account until the investigation is over.
2
I don't expect the employee will have a really, really bad day. It sounds like there's a signed paper copy of the withdrawal form. In that case, when they find the discrepancy between the teller's cash drawer and the records, they'll go through the paper forms, and when they find the typo, they'll fix it.
– Mark
6 hours ago
add a comment |
Do you want a legal opinion or a moral one?
Morally
You should notify them as soon as possible or else some poor employee is gonna have a really, really bad day/week/month/year.
Legally
You don't have to do anything until they question you about the transaction. However, once it comes to light then you had better be ready to either have an additional £800 withdrawn from your account or give them the £800 in cash. They may even freeze your account until the investigation is over.
2
I don't expect the employee will have a really, really bad day. It sounds like there's a signed paper copy of the withdrawal form. In that case, when they find the discrepancy between the teller's cash drawer and the records, they'll go through the paper forms, and when they find the typo, they'll fix it.
– Mark
6 hours ago
add a comment |
Do you want a legal opinion or a moral one?
Morally
You should notify them as soon as possible or else some poor employee is gonna have a really, really bad day/week/month/year.
Legally
You don't have to do anything until they question you about the transaction. However, once it comes to light then you had better be ready to either have an additional £800 withdrawn from your account or give them the £800 in cash. They may even freeze your account until the investigation is over.
Do you want a legal opinion or a moral one?
Morally
You should notify them as soon as possible or else some poor employee is gonna have a really, really bad day/week/month/year.
Legally
You don't have to do anything until they question you about the transaction. However, once it comes to light then you had better be ready to either have an additional £800 withdrawn from your account or give them the £800 in cash. They may even freeze your account until the investigation is over.
edited 10 hours ago
answered 10 hours ago
MonkeyZeusMonkeyZeus
1,97311224
1,97311224
2
I don't expect the employee will have a really, really bad day. It sounds like there's a signed paper copy of the withdrawal form. In that case, when they find the discrepancy between the teller's cash drawer and the records, they'll go through the paper forms, and when they find the typo, they'll fix it.
– Mark
6 hours ago
add a comment |
2
I don't expect the employee will have a really, really bad day. It sounds like there's a signed paper copy of the withdrawal form. In that case, when they find the discrepancy between the teller's cash drawer and the records, they'll go through the paper forms, and when they find the typo, they'll fix it.
– Mark
6 hours ago
2
2
I don't expect the employee will have a really, really bad day. It sounds like there's a signed paper copy of the withdrawal form. In that case, when they find the discrepancy between the teller's cash drawer and the records, they'll go through the paper forms, and when they find the typo, they'll fix it.
– Mark
6 hours ago
I don't expect the employee will have a really, really bad day. It sounds like there's a signed paper copy of the withdrawal form. In that case, when they find the discrepancy between the teller's cash drawer and the records, they'll go through the paper forms, and when they find the typo, they'll fix it.
– Mark
6 hours ago
add a comment |
Let's have a go at answering the three questions posed in a factual manner.
If I put the "missing" money in some sort of high yield account would I be able to keep any interest accrued?
Yes - no problem with that.
Why?
Cash, indeed fiat money, is fungible - and I know that because I read fancy books on monetary theory!
There's no difference between "that" 800 and any other.
Should I inform the bank or let it slide until it is noticed?
I don't see that you have any obligation whatsoever to inform them, unless in your agreements with the bank, there's a clause saying that you should inform them in case of errors.
If there is no such clause in your contracts with the bank, then you simply have no obligation.
In the unlikely event that it's never flagged up, would not mentioning it be theft?
That is a very difficult legal question. (1) Jurisdiction? (2) You'd have to ask some real experts .. law.SE.
1
You could always put it in a high yield account with the same bank; the money would be there for them to reclaim as soon as they sorted it out, if it's in their account you're not trying to spend it (immediately at least), and in the meantime you're making a couple extra pence (which of course they're profiting from too -- banks don't pay interest out of the goodness of their hearts, they just give you a share of the proceeds).
– Doktor J
7 hours ago
add a comment |
Let's have a go at answering the three questions posed in a factual manner.
If I put the "missing" money in some sort of high yield account would I be able to keep any interest accrued?
Yes - no problem with that.
Why?
Cash, indeed fiat money, is fungible - and I know that because I read fancy books on monetary theory!
There's no difference between "that" 800 and any other.
Should I inform the bank or let it slide until it is noticed?
I don't see that you have any obligation whatsoever to inform them, unless in your agreements with the bank, there's a clause saying that you should inform them in case of errors.
If there is no such clause in your contracts with the bank, then you simply have no obligation.
In the unlikely event that it's never flagged up, would not mentioning it be theft?
That is a very difficult legal question. (1) Jurisdiction? (2) You'd have to ask some real experts .. law.SE.
1
You could always put it in a high yield account with the same bank; the money would be there for them to reclaim as soon as they sorted it out, if it's in their account you're not trying to spend it (immediately at least), and in the meantime you're making a couple extra pence (which of course they're profiting from too -- banks don't pay interest out of the goodness of their hearts, they just give you a share of the proceeds).
– Doktor J
7 hours ago
add a comment |
Let's have a go at answering the three questions posed in a factual manner.
If I put the "missing" money in some sort of high yield account would I be able to keep any interest accrued?
Yes - no problem with that.
Why?
Cash, indeed fiat money, is fungible - and I know that because I read fancy books on monetary theory!
There's no difference between "that" 800 and any other.
Should I inform the bank or let it slide until it is noticed?
I don't see that you have any obligation whatsoever to inform them, unless in your agreements with the bank, there's a clause saying that you should inform them in case of errors.
If there is no such clause in your contracts with the bank, then you simply have no obligation.
In the unlikely event that it's never flagged up, would not mentioning it be theft?
That is a very difficult legal question. (1) Jurisdiction? (2) You'd have to ask some real experts .. law.SE.
Let's have a go at answering the three questions posed in a factual manner.
If I put the "missing" money in some sort of high yield account would I be able to keep any interest accrued?
Yes - no problem with that.
Why?
Cash, indeed fiat money, is fungible - and I know that because I read fancy books on monetary theory!
There's no difference between "that" 800 and any other.
Should I inform the bank or let it slide until it is noticed?
I don't see that you have any obligation whatsoever to inform them, unless in your agreements with the bank, there's a clause saying that you should inform them in case of errors.
If there is no such clause in your contracts with the bank, then you simply have no obligation.
In the unlikely event that it's never flagged up, would not mentioning it be theft?
That is a very difficult legal question. (1) Jurisdiction? (2) You'd have to ask some real experts .. law.SE.
answered 8 hours ago
FattieFattie
3,74831735
3,74831735
1
You could always put it in a high yield account with the same bank; the money would be there for them to reclaim as soon as they sorted it out, if it's in their account you're not trying to spend it (immediately at least), and in the meantime you're making a couple extra pence (which of course they're profiting from too -- banks don't pay interest out of the goodness of their hearts, they just give you a share of the proceeds).
– Doktor J
7 hours ago
add a comment |
1
You could always put it in a high yield account with the same bank; the money would be there for them to reclaim as soon as they sorted it out, if it's in their account you're not trying to spend it (immediately at least), and in the meantime you're making a couple extra pence (which of course they're profiting from too -- banks don't pay interest out of the goodness of their hearts, they just give you a share of the proceeds).
– Doktor J
7 hours ago
1
1
You could always put it in a high yield account with the same bank; the money would be there for them to reclaim as soon as they sorted it out, if it's in their account you're not trying to spend it (immediately at least), and in the meantime you're making a couple extra pence (which of course they're profiting from too -- banks don't pay interest out of the goodness of their hearts, they just give you a share of the proceeds).
– Doktor J
7 hours ago
You could always put it in a high yield account with the same bank; the money would be there for them to reclaim as soon as they sorted it out, if it's in their account you're not trying to spend it (immediately at least), and in the meantime you're making a couple extra pence (which of course they're profiting from too -- banks don't pay interest out of the goodness of their hearts, they just give you a share of the proceeds).
– Doktor J
7 hours ago
add a comment |
As other answers mentioned, the bank will eventually find out and likely just withdraw the £800 from your accounts without notice.
Therefore, I would suggest that you make sure that you have >£800 balance in your account until this happens to avoid being charged any overage fees.
If a customer asks the bank how much money is in the account and is told an incorrect number because of the bank's mistake, and the customer acts upon a good faith belief that the number given was correct, the bank should not be allowed to profit from its mistake. On the other hand, a customer that notices a mistake could no longer act upon a good faith belief that the number had been correct.
– supercat
34 mins ago
add a comment |
As other answers mentioned, the bank will eventually find out and likely just withdraw the £800 from your accounts without notice.
Therefore, I would suggest that you make sure that you have >£800 balance in your account until this happens to avoid being charged any overage fees.
If a customer asks the bank how much money is in the account and is told an incorrect number because of the bank's mistake, and the customer acts upon a good faith belief that the number given was correct, the bank should not be allowed to profit from its mistake. On the other hand, a customer that notices a mistake could no longer act upon a good faith belief that the number had been correct.
– supercat
34 mins ago
add a comment |
As other answers mentioned, the bank will eventually find out and likely just withdraw the £800 from your accounts without notice.
Therefore, I would suggest that you make sure that you have >£800 balance in your account until this happens to avoid being charged any overage fees.
As other answers mentioned, the bank will eventually find out and likely just withdraw the £800 from your accounts without notice.
Therefore, I would suggest that you make sure that you have >£800 balance in your account until this happens to avoid being charged any overage fees.
answered 2 hours ago
WELZWELZ
3271412
3271412
If a customer asks the bank how much money is in the account and is told an incorrect number because of the bank's mistake, and the customer acts upon a good faith belief that the number given was correct, the bank should not be allowed to profit from its mistake. On the other hand, a customer that notices a mistake could no longer act upon a good faith belief that the number had been correct.
– supercat
34 mins ago
add a comment |
If a customer asks the bank how much money is in the account and is told an incorrect number because of the bank's mistake, and the customer acts upon a good faith belief that the number given was correct, the bank should not be allowed to profit from its mistake. On the other hand, a customer that notices a mistake could no longer act upon a good faith belief that the number had been correct.
– supercat
34 mins ago
If a customer asks the bank how much money is in the account and is told an incorrect number because of the bank's mistake, and the customer acts upon a good faith belief that the number given was correct, the bank should not be allowed to profit from its mistake. On the other hand, a customer that notices a mistake could no longer act upon a good faith belief that the number had been correct.
– supercat
34 mins ago
If a customer asks the bank how much money is in the account and is told an incorrect number because of the bank's mistake, and the customer acts upon a good faith belief that the number given was correct, the bank should not be allowed to profit from its mistake. On the other hand, a customer that notices a mistake could no longer act upon a good faith belief that the number had been correct.
– supercat
34 mins ago
add a comment |
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8
"weighed the cash" ?? Were you withdrawing the cash in coins or one-pound notes and 2800 of them were too many to count?
– Dilip Sarwate
15 hours ago
10
I would suggest informing the bank, else the teller might be in trouble perhaps even dismissed from her job for theft, when the discrepancy comes to light when her cash drawer doesn't match up.
– Dilip Sarwate
15 hours ago
5
Another possibilitity is that it's gone through in two transactions, one for £2k and one for £800, and the second one just hasn't shown up yet. I'd give it a couple of days and then inform the bank if it still hasn't shown up.
– Vicky
14 hours ago
5
@chepner There is a reason to wait, which is that as a rule of thumb it is annoying and time-consuming to get hold of the bank and specifically to talk to someone who can actually help rather than work through a script. If it shows up in your statement the meantime you've saved yourself the nuisance of trying to get through to them.
– Vicky
14 hours ago
11
You know what else is annoying? Being held responsible for the missing £800 until my customer can be bothered to report the discrepancy.
– chepner
13 hours ago