I opened a savings account three years ago with my local bank. Due to an error, it seems the bank gave me the account which was previously owned by my local council. Several payments were made into this account destined for the council. Now, three years later, the clients have discovered the mistake and require the money back. Do I legally have to return it?
Of course you have to return it. It was never yours, and surely you noticed there was too much in the account.
The bank doesn't have a limit to correcting its mistake. What will probably happen now is that the transactions in the account will be analyzed to determine what belongs to you and what belongs to the local council. If you've spent any of that money, you can expect that the bank will pursue you for it.
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Of course you have to return it. It was never yours, and surely you noticed there was too much in the account. 