Feb 4, 2009
Who are “Bank Credit SA” and why did they give me money?
Just paying off my credit card and glanced at my bank account to find an unexpected payment from “Bank Credit SA”.
I got very excited until I realised it’d be a mistake that I’d feel compelled to notify my bank about…
…but its not 
“Bank Credit SA” = “Bank Credit Self Assessment”, its a tax rebate – well I’m 99.9% sure it is, it is the right time of year and I submitted my tax return last week.
John Conners’ blog post from 2004, Bank Error In Your Favour, pointed me in the right direction. Thats John of John’s Background Switcher fame – thanks for the great software John, and the peace of mind this morning.
Thanks HMRC too.
Good news update 5/Feb/2009
Just received a repayment confirmation letter from the tax man, Bank Credit SA is Self Assessment repayment!
Hi there,
I have been paid over £6000 into my account from Bank Credit SA.. Are sure you its a self assessment return, because i only work part time in a pub. I havent earnt anywhere near this amount. Have you been able to keep your money, i have only found out this evening and put all the money in a high interest savings account.
thanks
Harry
Hi Harry,
I do believe Bank Credit SA is a self assessment rebate, as this rings true for me and others I’ve found on the web.
It may be that the Inland Revenue have made a mistake, or it may be that you overpaid tax last year if it was based on your earnings from 2 years ago, that’s what happened to me.
Most importantly, I’m not a tax advisor at all – I recommend getting it verified, perhaps look for a tax advisor forum online or try http://www.moneysavingexpert.com and have someone who knows what they are talking about offer you proper advice.