I've just received £25k ...

[Doug99]

The bank will not be able to withdraw funds from your account without your consent. I'd be tempted to buy premium bonds with it and don't answer any calls for a couple of months until after the first draw. Then offer to return the money.

 

[Trazor]

Any attempt to keep the money would be regarded as theft, you could face a criminal conviction/prison.

If you could argue that you thought the money was yours, genuinely, that may be a get out.
But as you know it was paid in error, that is not an option.

Remind your Bank of the error, and persist until it is remedied.

 

[Deleted member 292770]

Someone laundering ill-gotten gains, or hiding Russian assets?

yep frozen account in the making defo

 

[JohnD]

25 grand for 15 days yeah he will be able to retire on the interest from that

Or he could turn it down if he prefers.

 

[diy_fun_uk]

Sender has made contact today requesting return of the £25k. Again I won't go into the specifics however I'm 99% sure the request is from a legitimate source. I'm in the process of double checking this with them and my bank, after which if all ok I'll return it.

It was nice to be temporarily richer for a few days

 

[Mottie]

Sender has made contact today requesting return of the £25k. Again I won't go into the specifics however I'm 99% sure the request is from a legitimate source. I'm in the process of double checking this with them and my bank, after which if all ok I'll return it.

It was nice to be temporarily richer for a few days

I'd send it to the bank and let them pass it on to the sender.

 

[diy_fun_uk]

I'd send it to the bank and let them pass it on to the sender.

I've just spoken with them (the bank.) To let you understand, the sender is connected to local government, so I'm not concerned as to their legitimacy. The bank has advised I set the sender up on my online banking, this will verify their bank details. They further advised I send a small amount first e.g. £100, ask the sender to confirm receipt and then send the remainder.

If the money had come from an unknown individual or 'company' I would have been more concerned, however now they've contacted me the pieces of the jigsaw are starting to come together.

 

[motorbiking]

move it to an interest-paying account.

Do not do that.

Theft Act 1968

An Act to revise the law of England and Wales as to theft and similar or associated offences, and in connection therewith to make provision as to criminal proceedings by one party to a marriage against the other, and to make certain amendments extending beyond England and Wales in the Post...

www.legislation.gov.uk

 

[motorbiking]

I've just spoken with them (the bank.) To let you understand, the sender is connected to local government, so I'm not concerned as to their legitimacy. The bank has advised I set the sender up on my online banking, this will verify their bank details. They further advised I send a small amount first e.g. £100, ask the sender to confirm receipt and then send the remainder.

If the money had come from an unknown individual or 'company' I would have been more concerned, however now they've contacted me the pieces of the jigsaw are starting to come together.

This doesn't sound right. I think this might be a scam - the bank needs to follow the process.

What happens if I have sent a payment to the wrong place? | Faster Payments

Faster Payments, once sent, cannot be cancelled. Whilst the vast majority of payments are made without issue, in rare cases problems can arise if the wrong information (e.g. sort code and account number), is entered - resulting in a payment being made to the wrong account. It’s vital to double...

www.fasterpayments.org.uk

 

[Mottie]

So, someone in local government has sent you £25k and they are just going to give you details of a bank to send it to? Doesn’t sound right to me. I would think the correct procedure is for them to contact their bank, their bank to contact your bank and your bank to contact you. in fact, I’d insist things were done like that. You shouldn’t have to deal directly with them. How have they managed to contact you? Who gave them your personal details?

 

[motorbiking]

exactly what it says in the procedure.

This could well be money laundering.

 

[Bosswhite]

I do not understand the Banks attitude that they are not concerned about the £27K , I thought they had a legal obligation to investigate bank deposits in excess of £ 10K unless one has a Government licence for a high deposit account .

 

[diy_fun_uk]

I understand some of the points raised, however what's not helping (you) is the fact I'm intentionally not sharing all the details. Strictly speaking, the banks don't need to be directly involved. This is what senders are advised:

Inform your bank as soon as possible if you are not able to contact the recipient directly to request return of the money. If your payment has been sent to someone at a different bank to you, your bank will communicate with the other bank on your behalf.

I am now satisfied as to the legitimacy of those requesting I return the money. Their email addresses check out, their phone numbers check out and they gave me the option to send a cheque to a postal address that also checks out. When I say 'checks out' I mean they are all linked to the local government organisation.

When I set them up as a new recipient, my bank will automatically check and verify their account. Assuming all is okay with the verification, this gives me an additional layer of comfort as the account will be linked to the local government organisation, not just an individual.

They know me and have my details through dealings I have with them. That's how they've erroneously plopped the cash in my account in the first place.

Trust me, I'm as cautious as the next person about stuff like this

 

[Justin Passing]

I've just spoken with them (the bank.) To let you understand, the sender is connected to local government, so I'm not concerned as to their legitimacy. The bank has advised I set the sender up on my online banking, this will verify their bank details. They further advised I send a small amount first e.g. £100, ask the sender to confirm receipt and then send the remainder.

If the money had come from an unknown individual or 'company' I would have been more concerned, however now they've contacted me the pieces of the jigsaw are starting to come together.

If the bank put that in writing then OK, Otherwise not, for me.

What did he say he did, get the wrong Mr diyfun?