Moral Dilemma - do I admit to an overpayment?

[DilEmma]

I've changed my name like the coward I am,sorry. I've been overpaid, I can see how it happened and it may not come to light. However, it also may be discovered and if it does it will be discovered fairly shortly. Should I own up first? Or not? It's a quarter of my salary.

What you do think could save it and then repay when it comes light (thus making the interest)

DilEmma - Yes. It's bothering you for starters. It might be noticed shortly for seconds. It sounds like a fair amount of money for thirds. You'll feel better once it's sorted, I'm sure. Was it your mistake that created the overpayment? If so, sorting it asap is best. Even if not, as soon as it has come to your attention it's best to bring the error to light.

I'm sure I could've worded that much better! Good luck, anyway!

my dh was overpaid loads of money with one of his wages a few years ago (a few good thousands of pounds actually). he didn't actually notice that for quite a few weeks and the company discovered the error at the same time. can'r remember exactly how it went, but i believe he had prepared a letter for them and at teh same time they announced they know about the error and will recover the money by taking out a small amount from his wages every month. it was quite a good deal actually, no interest and no big fuss about it.
personally, i would bring it to their attention as soon as possible (after you discover the money). waht if you spend it and they ask for all the money all at ones? what if you can't sleep at night? after all, it's not money you give out of your own pocket. if you found it in the street you'd hand the money in so it's the same thing here.
hope this doesn't sound too harsh

If you were sure it would never be discovered, what would you do? That is, is this a moral dilemma (should you keep money that isn't yours or not)? Or is it a case of how likely are you to be found out (that is, you're happy to keep it but want to know if you should risk it).

If you want answers to a moral dilemma, then my answer would be no, you shouldn't keep it, its not yours.

If you want a risk assessment, then I'd say keep it (put to one side, don't spend it) and if they discover it shortly, pretend you hadn't realised and pay it back.

i got overpayed a months salary when ileft an employer - and this sounds terribly naive but i thought it was because i started mid month and left mid month - so i really thought it was mine - so i spent it!

they wanted it back ofcourse and so i agreed to pay them back at £200 per month.

if your strapped for cash pay something off with it - own up to the mistake and then pay it back at something per month!

They'll discover it in the end, if not by their own accounts department, their accountant/auditor will... sorry. I'd admit it asap, the longer you leave it, the harder it will be to admit it later.

ditto

Won't it look bad on you at work if it comes to light and you haven't owned up?
I would say your reputation is more valuable than the amount, plus it's just dishonest to try and keep it, isn't it?

I was overpaid by about 800 pounds over a year ago. I told our pay people, they stopped the payment and told me they would contact me to arrange recovery - how much, how often. I heard nothing so I contacted them about a month later and was told very snottily that they would contact me when they had worked it out. I am still waiting!

Yep - let them know. You can bet your bottom dollar they'll find out sooner or later and will want it back anyway. You'll feel better about it by giving it back.
Think of it like this. If you lost a significant amount of money you'd be dead pleased if someone honest handed it in and you got it back. There are still honest people around and I'm sure you're one of them.

Yes I think I would admit to it if I continued to work there - the only time it's ever happened to me was my final salary payment and they paid me for a whole year's holiday entitlement (this was in Feb) but as they kept me waiting over a month for my P45 and salary I decided they wouldn't miss it!!

DilEmma - you are legally obliged to report this otherwise it can be considered theft (it's the same if you get money wrongly credited into your bank account). sorry.