Paid too much....they got the decimal placing wrong Paid too much....they got the decimal placing wrong - Page 2
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  1. #11

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    Would there not be an option to have them simply reverse the transaction, or is that not something that exists?

    Maybe simply agree you'll take it as payment on account for the next 8-10 months.
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  2. #12

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    Quote Originally Posted by d000hg View Post
    Would there not be an option to have them simply reverse the transaction, or is that not something that exists?

    Maybe simply agree you'll take it as payment on account for the next 8-10 months.

    How that would work? The bank exchange the euros into pounds on the day X. Day X + 4 (for example) bank reverses transaction. At this point the exchange rate would be different. Who would take the hit (or the profit)? What about the fee already charged for the currency exchange?
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  3. #13

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    Quote Originally Posted by CryingSheep View Post
    How that would work? The bank exchange the euros into pounds on the day X. Day X + 4 (for example) bank reverses transaction. At this point the exchange rate would be different. Who would take the hit (or the profit)? What about the fee already charged for the currency exchange?
    If it was cancelling the transaction they'd simply undo it at whatever rates were used. But I don't know if transactions can be cancelled, because that implies they can take money out of your account forcibly

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  4. #14

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    Quote Originally Posted by GigiBronz View Post
    Explain to them the charge, and due to their error they shoulsd take the hit for transaction costs. It’s illegal to withhold. Than call your bank, explain your situation and see if they can do some goodwill considering error. Free money. (As long as fee is worth it)
    Or
    Put it all on black and make your money no time!
    Even by the standards of this forum, that is pretty awful advice.

    If the OP wants to make some money out of this situation, he should at least bet it all using some scientific method, like maybe throwing it all on a number based on his wife's birthday or summat.
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  5. #15

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    You pay them back the money that's owed, less your costs. So they paid you £74,000. Of which £7,400 is yours, the rest belongs to them. Overpayment is £66,600. You transfer that back to their account and convert to Euros. You choose the option that the recipient pays all costs. If your bank doesn't let you do that and insists you pay, e.g. £25, then you transfer back to the agency £66,575.

    That's it.

    You just make sure you have in your account exactly the amount you would have had without their mistake.
    Hmm. I'm beginning to suspect that you need to find all the packing the computer came in...

  6. #16

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  7. #17

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    Quote Originally Posted by edison View Post
    Whatever you do, don't do that. There have been plenty of cases of people going to prison for keeping and spending the money.
    Clarify for me, what law was broken?

    I've made overpayments to the HMRC vat man in error, worst case was £5000. Never got it back, they point black refused and kicked up hell when I tried to deduct the difference from the next payment.

    Errors and errors and they come with a cost. Size is irrelevant.


    Here's the Theft Act 1968. It say you could be guilty of an offence if a wrongful credit is made to your account and:

    1. You know the credit has been made incorrectly

    2. You don't take steps to to cancel the credit


    There have been some exceptional cases where individuals have been allowed to keep money accidently paid to them. This can happen in two ways:

    1. If you have a credible argument as to why you should keep it: For example, a part time bank worker who was overpaid £7,500 a year for three years won a court case to keep her windfall. A tribunal ruled in her favour after she successfully argued she had assumed the increase was a pay rise that she had been promised by her employers.


    2. If you did not realise you were given money in error: This argument was used successfully in 1950 in a case between Lloyds Bank and Cecily Kate Brooks. Ms Brooks, expecting a similar payment to the amount wrongly credited to her, argued that she spent the money believing that it belonged to her. This sort of case is the exception not the rule, and pleading ignorance is unlikely to work in your favour.
    Last edited by scooterscot; 14th October 2019 at 19:45.
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  8. #18

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    Quote Originally Posted by edison View Post
    Whatever you do, don't do that. There have been plenty of cases of people going to prison for keeping and spending the money.
    Theft by finding.
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  9. #19

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    Quote Originally Posted by scooterscot View Post
    pleading ignorance is unlikely to work in your favour. but it worked for me the Thistle even gave me back the 10p tip for room service
    FTFY
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  10. #20

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    Quote Originally Posted by scooterscot View Post
    Clarify for me, what law was broken?
    Theft.

    I've made overpayments to the HMRC vat man in error, worst case was £5000. Never got it back, they point black refused and kicked up hell when I tried to deduct the difference from the next payment.
    Not surprised. It is not lawful to offset one payment against another without agreement of the creditor. If they really owed you the money, then your accountant could have got it back for you, notwithstanding any statutory time limits.
    Errors and errors and they come with a cost. Size is irrelevant.
    Wrong. If the OP had millions going into their account, it might be feasible to argue that they didn't realise. But when it's a huge overpayment in comparison to other payments, that argument isn't going to work, since it'd be impossible to argue you didn't know it was an error.

    In OP's case, keeping the money would be theft. Generally, even if you didn't realise the overpayment, you are obligated to pay it back once the error becomes known, with few exceptions.
    Hmm. I'm beginning to suspect that you need to find all the packing the computer came in...

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