Someone asks you to return an unexpected bank credit

An unfamiliar deposit followed by an urgent refund request needs verification. Contact the bank through an established channel and identify the credit by date, amount and reference. Ask what payment type it is, whether further collection or return activity is possible and which process the bank recommends for a genuine mistaken payment. Do not use contact details supplied only by the person requesting the refund.

The OCC warns about schemes in which someone supplies a bad check and asks the recipient to send money back or onward. A visible credit therefore should not be treated as sufficient evidence that a separate outgoing payment is safe. Preserve the request and tell the finance lead while the bank investigates.

Compare the amount with open customer balances, supplier refunds, insurance receipts and intercompany transfers. Request full remittance details through verified contacts. A trading name may differ from the payer's legal account name, so investigate the relationship without assuming that every unfamiliar description is fraud.

Keep the receipt unallocated or in an appropriate temporary account under the accountant's policy while ownership is unclear. Avoid recognizing sales revenue solely because money arrived. If a known customer paid twice, link both receipts to the original obligation and confirm the agreed treatment of the excess. Check whether one payment was intended to cover several invoices before classifying the difference as an overpayment.

A request to send the money to a different account or person deserves particular scrutiny. Ask the bank whether the original payment can be returned through the original route. Where another process is necessary, obtain the required evidence and approval before releasing funds.

The FBI recommends secondary-channel verification for changes to payment account information. Apply that check even when the email thread appears familiar. Use a previously established contact method and record who confirmed the instructions. Do not rely on a screenshot purporting to show that the requester owns the destination account.

Record the bank's advice, the established owner, the approved amount and the return reference. If the payment is a valid customer refund, apply it against the customer's credit balance. If it is an erroneous third-party receipt, ask the accountant to confirm the appropriate liability and clearing entries. Keep any bank charges separate.

Assign one owner for the return. A bank-initiated return and a manual payment can otherwise both occur. Confirm the status of any existing return request before sending funds through another channel. Do not promise a completion date to the requester until the authorized route and bank timing are established.

Reconcile both movements and watch for a later reversal of the original credit. If the bank reports fraud or the origin remains disputed, follow its escalation instructions and preserve communications, transaction references and approval records. Ask the appropriate adviser to resolve any ownership or recovery dispute.

Close the temporary ledger item only when its final treatment is supported. Retain the explanation with the bank reconciliation so the credit cannot be mistaken for unreported income or a second customer receipt at year-end. A complete record shows why the business received the money, who was entitled to it and how the return was confirmed.