I've just noticed today that a transaction was reversed on my account from Standard Bank. After phoning the bank to find out what it is, I am told it is a bank cheque that was cancelled by me some TWO YEARS ago. Apparently, when I cancelled it two years ago the money was released to my account (no problem here) but a few months later they credited my account again with the same amount/transaction (cheque that was cancelled). So in other words I got double my money. The thing is I don't remember this and I can't go back and check my statements so far back to verify their claims.
Are they allowed to do this, given the amount of time that has collapsed?
Is there a time limit on how long a cheque is valid for?
Any input on this would be appreciated.