Building society Help :(

[Geek]

Help my Building society has been paying my dad's interest into my account since 2005 in my paying in book it says reward payment :)
so I have spent it :)
My dad today has found this out and wants his money back :(
I am not in a position to pay it back. I have 2 payments printed in the book which I have spent plus 3 more which dad tells me they have done which I don't have on paper as I thought the account was empty.

My question is is it my fault for spending it or the Building society for putting it in the wrong place and no reference to dad's account or interest.
Plus dad has lost the interest on this money as well

What should I do?

[Mart61]

Well I would say, ultimately, it is your fault for spending it. If there are funds entering your account that you were unsure of the origin, and you choose to spend them without confirming the origin, then I'd say you are to blame I'm afraid.

Are we talking loads of cash here, or just a few quid? Will your dad not calm down in a day or two and either 1) let you off or 2) formulate a plan for you to pay him back? After all, he is your dad.

Any ideas why it was being paid into your account? All seems a bit fishy to me...

[Birdie4x4]

Run for the hills!

[Adrian]

I cant see how your dads intrest went onto your account paul! do you have the same names or somthing?
But as mart says ultimatly its your gaff for spending it (on flybarless gear ) and not noticing it :D:auto:

[choppypilot]

[quote=Birdie4x4;455323]Run for the hills![/quote]

My kind of humour!:gnorsi:

[Geek]

[quote=Mart61;455322]Well I would say, ultimately, it is your fault for spending it. If there are funds entering your account that you were unsure of the origin, and you choose to spend them without confirming the origin, then I'd say you are to blame I'm afraid.

Are we talking loads of cash here, or just a few quid? Will your dad not calm down in a day or two and either 1) let you off or 2) formulate a plan for you to pay him back? After all, he is your dad.

Any ideas why it was being paid into your account? All seems a bit fishy to me...[/quote]

I can see interest payments on the account for the very little money that I had but then it says Reward payment which is hundreds and I spent it :(
Dad was on my account when I was 8 and now I am 31 he was taken off at 18

[Geek]

I don't need to run I live 100 miles away

Surely it's not my fault

[Mart61]

Well, I would certainly approach the building society and ask them to explain how it happened. You never know, as an act of good faith, they may rectify the problem at their cost. You never know and it doesn't hurt to ask.

It's not your fault that the money was paid into your account, but it is your fault that you spent it.

[Mark_T]

All sorts of possibilities based on the limited information provided, few of them good though, at least not for you.

Take the events back to basics and who is liable for what may become clearer.

Two things have happened, your father has discovered he has not been getting interest payments and separately you have been getting payments for a reason you did not understand but believed to be a 'reward' of some kind.

You father has a dispute with the building society and it is up to them to deal with giving him the money he is due. They should not be sending him to you and if you are over 16 they should not be disclosing anything about your account to him in the first place.

The bad part is that although they should sort out your father, they will then come after you but it sounds like a good part of the money may be still in your account anyway.

Hard to be more specific but I guess the basic question will be who would you rather owe the money to, your father or the building society?

A lot also depends on the amount involved.

[Jamin_00]

Re: Building society Help :(

My mrs works for abbey and she says it's your dads fault as when he opened his account to where the interest relates from, in this case she is assuming an investment account due to the low frequency of payments made he would have then chose where the interest is paid to. So it would seem he forgot this as it can be changed at any time.

[Mart61]

Sounds like a tax fiddle to me...

:D

[Geek]

[quote=Jamin_00;455353]My mrs works for abbey and she says it's your dads fault as when he opened his account to where the interest relates from, in this case she is assuming an investment account due to the low frequency of payments made he would have then chose where the interest is paid to. So it would seem he forgot this as it can be changed at any time.[/quote]

I had the account aged 8 with dad
19 years later I start getting funny payments my age was 27 then and have had 5 payments in total

[Jamin_00]

Re: Building society Help :(

So at that time when you was 27 was when your dad decided to get the interest paid into your account then.

Are both your names the same. If so this could be the banks fault.

Your dad did not tell you this was gonna happen I gather?

[Mart61]

I think, personally, that whose fault it is that the money got paid into the wrong account is, by and large, immaterial.

Take a peek on something similar [URL="http://news.bbc.co.uk/1/hi/magazine/6966683.stm"]here[/URL].

This article poses a question:

[B][SIZE=2]Q. But what does English law say about spending mistakenly received money?[/SIZE]
A. [SIZE=2]If an amount is too large to be rightfully yours and you knowingly spend it, you're in trouble[/SIZE][/B]

[Geek]

[quote=Jamin_00;455366]So at that time when you was 27 was when your dad decided to get the interest paid into your account then.

Are both your names the same. If so this could be the banks fault.

Your dad did not tell you this was gonna happen I gather?[/quote]

Dad didn't know the interest was not going in to his account until today. he did want it to go to me and wants it back.
Both names are different Paul and Neil
I guess it's account for when he retires so doesn't use it much like me not been for 3 years