Bank Errors In Your Favour

We can all dream of checking our bank account to find that it has mysteriously been credited with £1 million, but if a bank makes an error in our favour, what action should we take?

An article on this subject on the Motley Fool suggests that in most instances we should own up to the error and pay the bank back. In general, the Financial Ombudsman will rule in favour of the bank, unless you can prove that you thought “in good faith” that the money was yours.

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