Sum of money appeared in account

[WAslayer]

You have taken all reasonable steps for the money to be returned to the owner but did not succeed, You then spend the money with a clear conscience, no need to bother yourself about legally claiming it. You'll deal with the problem of the money being demanded back or SARS when it happens.

As others have said its not your burden to carry as long as you know what to do when they coming looking for the money, there is no way anyone can try to pin it as theft on you.

That is just the thing, spending the money is theft, irrespective of any steps you have taken the trace the owner of the money.. If the time comes and the owner wants the money back and you cannot pay it back, you are on the hook for theft..

That's why I am asking about, if there will ever be a scenario where you can have a legal claim against that money..

 

[Speedster]

That is just the thing, spending the money is theft, irrespective of any steps you have taken the trace the owner of the money.. If the time comes and the owner wants the money back and you cannot pay it back, you are on the hook for theft..

That's why I am asking about, if there will ever be a scenario where you can have a legal claim against that money..

Good question. In the mean time he can at least claim the interest though. I liked the idea of popping it in his home loan. Probably what I'd have done

 

[Pho3nix]

Interesting points here. Can anyone post the case law specific to how this is theft if the money used?

Curious to read about it

 

[WAslayer]

Good question. In the mean time he can at least claim the interest though. I liked the idea of popping it in his home loan. Probably what I'd have done

So the other question, with regards to earning interest on that money, what do you tell SARS when they ask about the source of funds..?

Legally, it's unjustified enrichment, claiming money that is not yours.. Earning interest on that money should then also be considered unjustified enrichment..?

 

[WAslayer]

Interesting points here. Can anyone post the case law specific to how this is theft if the money used?

Curious to read about it

There was a case between Nissan and another party in 2004 where it was rule theft as well as the 2017 NSFAS incident, where the student was paid 14 bar accidentally..

 

[TheChamp]

That is just the thing, spending the money is theft, irrespective of any steps you have taken the trace the owner of the money.. If the time comes and the owner wants the money back and you cannot pay it back, you are on the hook for theft..

That's why I am asking about, if there will ever be a scenario where you can have a legal claim against that money...

You are unnecessarily complicating things, what about if you leave it exactly where you found it, stop using the account and let the bank charges do what they do to money? It's not your baby to preserve the money, what now? Is it your problem when there's nothing left after 20 years?

 

[Pho3nix]

There was a case between Nissan and another party in 2004 where it was rule theft as well as the 2017 NSFAS incident, where the student was paid 14 bar accidentally..

Dankie. Got the one http://www.saflii.org/za/cases/ZASCA/2004/98.html

NFSAS one is still pending is it not?

 

[TheChamp]

There was a case between Nissan and another party in 2004 where it was rule theft as well as the 2017 NSFAS incident, where the student was paid 14 bar accidentally..

The NSFAS incident is pretty straightforward though, very different to the situation you described.

 

[WAslayer]

You are unnecessarily complicating things, what about if you leave it exactly where you found, stop using the account and let the bank charges do what they do to money? It's not your baby to preserve the money, what now? Is it your problem when there's nothing left after 20 years?

I am simply asking questions out if interest.. I don't know what would happen if the bank depletes that money if you stopped using the account.. That is why I am asking the question..

At which point are you no longer liable for what happens to that money..? Whether that is spending it on what you want or the bank spending it to cover charges..

 

[LaraC]

I would not touch it for at least sixty days. That would give whoever deposited the money to realize their mistake or company that payment is overdue.

 

[TheChamp]

I am simply asking questions out if interest.. I don't know what would happen if the bank depletes that money if you stopped using the account.. That is why I am asking the question..

At which point are you no longer liable for what happens to that money..? Whether that is spending it on what you want or the bank spending it to cover charges..

Maybe there is a point in law, my point was that it simply does not automatically become theft if you spent the money, example, if you hit a bad patch in your life and the debt collectors come knocking and find money in there they are going to take it, you technically did not spend the money but the money disappeared while in your account meaning it was used for your benefit.

If the owner of the money wakes up one day and wants their money you are still liable to pay it back, but it is not automatically a case of theft on you.

 

[theratman]

I had Sars pay me a packet a few years back, they messed up my return and I ended up with over 200k paid into my account. Called them to inform them and fired off some mails etc. They said all was in order and the funds were paid correctly.

Put it a high interest account and a year later they came knocking, and they slapped me with interest too, the pigs (which exceeded what I had earned)

Still had to pay it over plus their requested interested etc. Accountant said there was no point fighting it.

 

[WAslayer]

I had Sars pay me a packet a few years back, they messed up my return and I ended up with over 200k paid into my account. Called them to inform them and fired off some mails etc. They said all was in order and the funds were paid correctly.

Put it a high interest account and a year later they came knocking, and they slapped me with interest too, the pigs (which exceeded what I had earned)

Still had to pay it over plus their requested interested etc. Accountant said there was no point fighting it.

Even to have them waive their interest, considering that you contacted them to confirm all is in order which they confirmed it was..?

 

[TheChamp]

Even to have them waive their interest, considering that you contacted them to confirm all is in order which they confirmed it was..?

If he pursued it legally and proved that he made a reasonable effort he would have been able to, they basically bullied him into paying because they are the big guy and he is the small guy.

 

[s0lar]

Something similar happens to a family member a while back. Got contacted by the person who “mistakenly” transfered the initial amount asking to transfer to a different account. Sketch to say the least. Turned out the initial transfer from sim swap fraud, guys where looking transfer into an account not linked to them.

 

[maumau]

^
clever.

 

[RedViking]

So called the bank, all they can do is a trace to find out where the money actually came from.
Can't return it and their advice rather is to call Capitec to sort it out. WTF

Funds are showing as available , so have seemingly cleared.

Will call Capitec later and see what they say. Moving the funds to another account in the interim.

Shall update on what happens from there.

I would not move the funds. Just keep it there till you know what is going on. Might need to explain to SARS.

 

[Speedster]

So the other question, with regards to earning interest on that money, what do you tell SARS when they ask about the source of funds..?

Legally, it's unjustified enrichment, claiming money that is not yours.. Earning interest on that money should then also be considered unjustified enrichment..?

It's an interest free loan. Owner is welcome to recall the funds anytime they wish.

 

[theratman]

Even to have them waive their interest, considering that you contacted them to confirm all is in order which they confirmed it was..?

Yip, was looking at the legal route and all recommendations was that it'll cost more to fight it, and I'll still lose, even with all the details and contacts I'd kept.

 

[I.am.Sam]

so how much was it ...tell us

was it for services rendered