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I was sent €5000 by mistake

  • 08-11-2021 2:30pm
    Registered Users Posts: 4,540 ✭✭✭

    Have a car loan with KBC and received a letter saying the load is cleared and the balance remaining of the €5000 has been credited to my current account(€700).

    Called KBC and the guy on the phone sounded a bit confused, eventually came back and said the €5000 had been transferred my mistake and would I transfer back the €700 if he gave me an IBAN. Waiting for him to call back with IBAN now.

    All seems a bit messy, should I be asking for any written confirmation I sent money back or as its all electronic now that's unnecessary?



  • Registered Users Posts: 920 ✭✭✭wildefalcon

    Ask for a letter to that effect. Then act.

  • Registered Users Posts: 5,572 ✭✭✭Princess Calla

    The iban the money came from should appear on your bank statement, or at least your bank should be able to confirm the originating iban.

    I would only return the money to the originating iban and make sure you put a meaningful reference in the description field.

  • Registered Users Posts: 23,068 ✭✭✭✭mickdw

    This could very well be a scam.

    Maybe you called the number on the letter your received which could be a scam. The payment into your account could be automatically reversed shortly.

    If you send other money to a random IBAN, you will be without that too.

  • Registered Users Posts: 4,540 ✭✭✭enfant terrible

    No IBAN details on my online account there just a SEPA Summary as below, the ID was blank no number there

    Destination account details

    • Name
    • removed
    • ID

    • Transaction amount
    • 705.73
    • Settlement date
    • 01 Nov 21
    • Unique reference
    • removed
    • Remittance information

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  • Registered Users Posts: 4,540 ✭✭✭enfant terrible

    I google kbc and rand the number off their website 1800939244

  • Registered Users Posts: 3,318 ✭✭✭NSAman

    DO NOT TRANSFER ANYTHING... let the bank sort it out.

    Recently I was given access to a HUGE amount of money on a bank here in the states. Well in excess of a million dollars. As it happens, i know of the party involved (same name as myself) and phoned their offices to instruct them of same.

    It is a bank issue, let them solve the issue. You could be down money of you meddle in this.

  • Registered Users Posts: 18,004 ✭✭✭✭bucketybuck

    Don't take candy from strangers

    Don't piss into the wind

    Don't transfer money to people who give you their bank details and tell you its ok

  • Registered Users Posts: 4,540 ✭✭✭enfant terrible


    Ya something strange going on alright he said he would ring me back with IBAN but did not.

    What should I say exactly i don't feel comfortable transferring the money back myself I'd prefer the bank to sort it?

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  • Registered Users Posts: 5,572 ✭✭✭Princess Calla

    To be honest I'd leave it for now.

    You have flagged the issue, they have the means to reverse the payment out of your account let them go down that route.

    Otherwise let them send you a formal invoice for the repayment.

  • Registered Users Posts: 4,540 ✭✭✭enfant terrible

  • Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 66,503 Mod ✭✭✭✭L1011

    The balance would have been the balance on the loan account which the can presumably back out easily.

  • Registered Users Posts: 28,480 ✭✭✭✭HeidiHeidi

    I read it as €5K was (allegedly) transferred from somewhere, by someone, to his loan account, it was used to clear the loan and there was €705.73 left over, which was then sent to his current account. Now they want that sent back.

    It all sounds well hooky though - I'd do nothing. As others have said, if it's their mistake, let them reverse it. I wouldn't be going out and blowing the €700 either though! Make sure to leave that in your account so if it does suddenly disappear you're not overdrawn.

  • Registered Users Posts: 4,540 ✭✭✭enfant terrible

    They sent €5000 to my car loan account. Balance of my car loan must of been €4300 so balance of €5000 was sent to my current account.

    I'm assuming they have easy access to the €4300 as that was my kbc car loan account but obviously don't have access to my account with the €700.

  • Registered Users Posts: 4,708 ✭✭✭BabysCoffee

    Hold tight for a bit until the money is well cleared in your account. There is a variation of a scam where when selling an item, someone agrees to buy it but accidentally overpays by cheque. They then ask for the money back and you then return it. A couple of days later the payment/flagged is flagged by the bank and instead of clearing it is all removed from your account and you are down the money you returned.

  • Registered Users Posts: 35,127 ✭✭✭✭BorneTobyWilde

    Car loan balance is minus 4300, they sent 5000, so plus 700 was in loan account, so the sent 700 to current account, so loan account is 00.00. Still means you need to send back 4300, and 700 so that the loan account returned to minus 4300, not 00.00 as it stands now?

  • Registered Users Posts: 35,127 ✭✭✭✭BorneTobyWilde

    Sounds like a scam, what you see on your screen isn't real, it's a fake shot, seen this before.

  • Registered Users Posts: 35,127 ✭✭✭✭BorneTobyWilde

    You have been compromised, you need to see what's real and what's not. Heard something like this on radio, guy is on his bank account online, and the screen he is looking at is just a copy, and an amount looks like it was added to his account, so he is asked to transfer that amount back, which he does, and then the scammer clears the fake shot of the screen of the amount, so guy is certain he sent it back. When in fact all he did was send a large amount from his own money to them.

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  • Registered Users Posts: 5,802 ✭✭✭daheff

    ask them to send you a letter to confirm what has happened, what they are doing to rectify the problem and how they are planning to prevent its occurrence again in the future.

    For the repayment of funds, ask that a wet ink signed letter is sent to you at the address they have on file for you to give instructions on which kbc account the funds should be returned to. do nothing without a wet ink letter.

  • Registered Users Posts: 4,540 ✭✭✭enfant terrible

    They still have not rang me back with IBAN don't know what's happening. What's the significance of a wet ink letter?

  • Registered Users Posts: 20,700 ✭✭✭✭Ash.J.Williams

    Sounds like a scam , only pay the bank in person

  • Registered Users Posts: 5,802 ✭✭✭daheff

    It means a named somebody has to sign it physically and send it to you by post.

    They should get your details from their system to do this.

    The person should then be reasonably checkable by you independently (eg LinkedIn/social media etc).

    And it buys you some time to be sure this is genuine and not a scam.

    You then have written details on where to send the money back, on headed paper and signed by a named individual. Even if there is a scam, you would then be entitled to your money back as it's fraud, and banks are covered for this.

  • Registered Users Posts: 1,945 ✭✭✭beachhead

    do nothing - as in,do not send money to anyone.wait for the bank to write to you which they will.ring them again to remind them of the a wet ink letter is a new term for me.must have come from dr google.used to be called correspondence or a letter in the post.........................

  • Registered Users Posts: 1,053 ✭✭✭Kalimah

    As others said you shouldn’t have to do anything to correct this yourself.?. I came across this myself occasionally while working in the bank in the 90s. What KBC should do is credit the original 5k back to the correct recipient, debit your car loan by 4300 and your current account by the 700. All is correct now from your end. They do have access to both accounts - they can debit bank charges etc or unpaid items. Really all they should be doing is informing you as a courtesy. It’s all a bit odd.

  • Registered Users Posts: 4,540 ✭✭✭enfant terrible

    I google KBC and rang their customer service number here

    Guy on the phone said it was sent by mistake so surely not a scam?

    I'm sure if it was a scam he wouldn't be calling back with an IBAN, he'd be giving me the IBAN there and then.

    I think he asked for my name, DOB and my monthly loan repayment amount to confirm my identity.

    Thanks everyone for their advice.

    Post edited by enfant terrible on

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  • Registered Users Posts: 23,068 ✭✭✭✭mickdw

    Ya but the scam in this could be the far side so to speak.

    The bank can see the money coming into you but this money could be automatically withdrawn if found to be from a fraudulent source.

    If you in the mean time decide to send 700 of your own legit money to some other account you will be at the loss of it.