Was wondering weather this happened to anyone else but it happened two years ago during the start of the recession. My dad was keeping on top of his banking, and for some reason or another moved the money in one of the accounts and closed it (the balance was to the sum of about £28,000). Now I don't even know how such a mistake can happen but basically a month later after everything "settled" down (Note that all our money is accounted for as my dad keeps meticulous records of everything) he noticed one of his accounts had unexpectedly been credited with a vast sum of money. To the sum of about £28000.
Now he didn't immediately make the connection, assuming perhaps a business has mistakenly transfered money so it stayed there and he didn't give it much thought for a few days. Then the penny hit and he had a hunch at what happened and went through his record to double check the figures. And yes, the amount was exact to the penny as what he transfered out of that other account before he closed it.
So off he went to the bank to inform them of this mistake.
Now fast forward a month and half later. Still nothing done about the money. We still have it and its not doing much. So he thought "Well F it, if they ever do come chasing it back i'm only obliged to give them the capital back, so why not make a bit of interest here..". So the end point is it gets put in some high interest scheme of 8% pa, tied to the FTSE.
Now fast forward to present day. I had forgotten all about it (obviously my dad hadn't) but I come home one day from uni and my dad asks if he can borrow as much money as i can lend him, untill april. It appears that finally after two years (We had hopes that they would never come for it/ it got left in our possession for over 5 years, which in my understanding we could have legal grounds to ownership of the money) that they now want it back!
So long story short is I had to lend my dad some money so as to minimize interest loss in his accounts. He's happy about the banking mess as it gained him £4k for next to no work.
I was wondering if this happened to anyone else as I can't see it being human error that caused these transfers so there must be others?
SUMMARY:This is why banks Suck.
Now he didn't immediately make the connection, assuming perhaps a business has mistakenly transfered money so it stayed there and he didn't give it much thought for a few days. Then the penny hit and he had a hunch at what happened and went through his record to double check the figures. And yes, the amount was exact to the penny as what he transfered out of that other account before he closed it.
So off he went to the bank to inform them of this mistake.
Now fast forward a month and half later. Still nothing done about the money. We still have it and its not doing much. So he thought "Well F it, if they ever do come chasing it back i'm only obliged to give them the capital back, so why not make a bit of interest here..". So the end point is it gets put in some high interest scheme of 8% pa, tied to the FTSE.
Now fast forward to present day. I had forgotten all about it (obviously my dad hadn't) but I come home one day from uni and my dad asks if he can borrow as much money as i can lend him, untill april. It appears that finally after two years (We had hopes that they would never come for it/ it got left in our possession for over 5 years, which in my understanding we could have legal grounds to ownership of the money) that they now want it back!
So long story short is I had to lend my dad some money so as to minimize interest loss in his accounts. He's happy about the banking mess as it gained him £4k for next to no work.
I was wondering if this happened to anyone else as I can't see it being human error that caused these transfers so there must be others?
SUMMARY:This is why banks Suck.
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