Bank Error Arrest

[littlesally]

Just seen this and thought it would be interesting, I remember when there was loads of speculation about whether it's legal to use money that turns up in your account

http://news.yahoo.com/s/ap/20080220/...k_error_arrest

I did look but if this is already posted, please delete the thread

Sally xx

[theGobbyOne]

Re: Bank Error Arrest

It happened near a town where i live too........seems its not legal honey!!!!!!!!!

135k Credited To Mums Bank Account (from Lancashire Telegraph)</title>

[Guest]

Re: Bank Error Arrest

It's never been legal to keep money that is not yours.

In addition, there is caselaw going back over 160 years, one of the earliest is Kelly v. Solari (1841) and there are others more recently. Rather predictably, this comes up often but the answer must always be the same - if you know it is not yours, then you give it back.

[littlesally]

Re: Bank Error Arrest

double posted

[littlesally]

Re: Bank Error Arrest

It's never been legal to keep money that is not yours.

In addition, there is caselaw going back over 160 years, one of the earliest is Kelly v. Solari (1841) and there are others more recently. Rather predictably, this comes up often but the answer must always be the same - if you know it is not yours, then you give it back.

I know Claude, I remember you saying otr. But as it was still discussed and does repeatedly come up I thought this would be interesting.
I want to know how on earth he will pay back the 2million he's spent!!
And, what if the investments he made had been good? Would he have to pay back any money he made as well as that he took?

Sally xx

[Guest]

Re: Bank Error Arrest

I know Claude, I remember you saying otr. But as it was still discussed and does repeatedly come up I thought this would be interesting.
I want to know how on earth he will pay back the 2million he's spent!!
And, what if the investments he made had been good? Would he have to pay back any money he made as well as that he took?

Sally xx

Yes, quite probably. That would form the basis for a claim in restitution, which is to say, a claim based on any gains made by the defendant in addition to the loss suffered by the claimant.

[theGobbyOne]

Re: Bank Error Arrest

However there is also this one that is an entirely different outcome altogether.....................

BBC NEWS | England | Tyne | Double money in cash point error

[theGobbyOne]

Re: Bank Error Arrest

Yes, quite probably. That would form the basis for a claim in restitution, which is to say, a claim based on any gains made by the defendant in addition to the loss suffered by the claimant.

BBC NEWS | England | Egg on face over bank error

In this one the people were allowed to keep the interest gained

[righty]

Re: Bank Error Arrest

It all depends on how hard you tried to explain to the bank that the money wasn't yours & their repeated failure to act

[righty]

Re: Bank Error Arrest

It happened near a town where i live too........seems its not legal honey!!!!!!!!!

135k Credited To Mums Bank Account (from Lancashire Telegraph)</title>

I'm surprised she got bail. After all she didn't commit murder did she

[Guest]

Re: Bank Error Arrest

BBC NEWS | England | Egg on face over bank error

In this one the people were allowed to keep the interest gained

Because the bank did not have to sue them to recover it - this is not the same thing at all. They alerted the bank at once and were rewarded with a goodwill payment.