Wrong funds in your account? What can you and your bank do with the funds?
20 May 2021
I recently had the situation where a third party accidentally paid a sum of money into our business account. Our... banker saw the amount and asked whether it could be used to settle some of our company’s debt with the bank. When informed that it was not our money, the re-transfer to the third party was arranged. However, I was wondering what would have happened if we had used the money or the bank had taken it to settle our debt with it?