Bank overpayment

[SGirl]

Just wondering whether any of you on here can advise me with regard to an overpayment.

I've just received a mail from a foreign bank, telling me that they inadvertently credited my account twice on receipt of a single payment request from a client of mine. Now the bank is "out of pocket" (their words!), and they'd like the money back please.

Of course, I'm going to give it back. I'm nice like that. But what I was wondering is whether I can deduct a fee from the amount for the transfer charges I'll incur, or for my time dealing with it or anything?

Thanks in advance for any help you can offer.

[CRB14]

I had exactly the same thing happen 3 years ago. I left it a week then mentioned it to the bank who thanked me for my honesty but it had already been identified and the transfer was automatically reversed.

Don't touch it whatever you do.

[SGirl]

Thanks for the info, I hadn't thought of the possibility of them just swiping it back!

They seem to have tried that, though. They said in their mail that they'd been trying to go via their GBP coordinator, but with no luck. They actually contacted my client in the end, who gave them my email address so that they could ask for the money back. I was aware of the overpayment, but this particular client has sent me duplicate payments before so I was waiting for them to ask for it back. I hadn't expected the bank to have made the error!

Maybe the rules are different for international transactions. I'll do some more digging before I contact them, I'm certainly not going to just send them the cash without further info.

[BlackLabel]

Speak to your bank first and make sure the payment can't be reversed - otherwise you could refund them then at a later stage they may get the payment recalled too.

And you shouldn't be left out of pocket so if you are going to be charged a fee to send the money back then send them their money back less the fee you pay.