My bank deposited $2,875,019 in my checking account by mistake. What should I do?

Question

I usually don't have more than $1,200 in my account at any one time and now this? What should I do? I don't know what to do, get it all in cash before they notice or something! I'm seriously freaked out. By the way, I've already spent $20,000, and in a typical year I only make about $16,000 to $19,000! Help!

I spent the $20,000 on two large items which I have returned and had the money credited back to my account.

Answer 1

Some how I just don't believe you.

Answer 2

Glad to help. Thankfully, you returned the items and had the money put back into your account. Call the bank and tell them about the account. They can correct the mistake in a few days. If you don't say anything, the monthly reconciiation that a bank does to ensure customer accounts are correct will correct the mistake. They will contact you to let you know what the mistake was.

Answer 3

You're freaking out, as demonstrated by your returning the items and crediting your account.

I've occasionally kept a few cents extra change after paying at a store. But on balance, I've also been shorted. In fact, recently while using the self-service checkout at Wal-Mart, my 'bananas' code didn't seem to take. Then I remembered I'd selected the cheaper bananas that are pre-bagged. I entered the code. When I got home, I discovered that I'd paid for the correct weight on two different types of bananas while bringing home only one.

(I hope going bananas has lightened your mood. It's all connected.)

The problem is, no one is going to give you 10% of the money for your honesty in reporting it, though they should. You're going to do the right thing (it's already started) and you won't get rich or even become famous for it.

So what's your reward?

The immutable law of what you sow you reap. Some people call it karma but that seems to involve other lifetimes and I don't think we get off that easily.

When I was starting out in my career as a graphic designer, I mocked up a brochure for a bank. They loved it and paid me what I thought was an incredible amount of money (a month's living wage). When I sent the brochure to print, the printshop output did not include the flaws of my home-office design with color artificially added by a heat process to laser output. But all rights, I should have ordered new film and new printing, all at my own expense. And gone bankrupt.

But, the bank did not demand that of me. They didn't hire me again, but they didn't force me to make right my mistakes. In fact, though I saw it on their faces, they did not even mention it.

So, a few years later when someone did not deliver to me what was promised, I remembered that I had not been called upon to be greater than I could be at the time, so neither could I call upon that party to deliver what they could not deliver, even though they had promised it.


This is sort of the reverse scenario of what you're talking about. But it's the same principle. If you keep the money, at some point when you can least afford it, you will make a mistake, and the other party will not offer you grace. They will extract your blood and even your very life. Not your money but your heart, your soul.

No my friend, the law of what you sow you will reap is far too strong to promulgate sowing to the wind, for you will reap the whirlwind.

But you already know that, don't you?

Answer 4

I wouldn't tell them anything about it. That's their mistake not yours but if your bank is like mine than they'll figure it out. If that money has been in your account for a long time and that bank hasn't figured it out by now than they never will. I deposited money in my account once and the lady typed $800 instead of $80 and at the end of the day they figured it out when she counted her drawer.

You can send me some of that money if you plan on keeping it since my baby and I are in great need. I hope you make that right decision and don't get in trouble for a banks mistake.

Answer 5

I suggest you close your account as soon as possible and hold the money in a Swiss Bank like UBS or Credit Suisse for at least 3 years and then move to Mexico and invest wisely your money with the help of a Private Bank.

Answer 6

I should be so lucky. If you really did spend $20,000, that is not good. You will have to pay it back. Don't think the bank won't notice almost 3 million dollars missing. The law is on the bank's side, in case you were wondering. There could be criminal penalties as well. You have no good explanation for taking money you knew wasn't yours. "The bank screwed up, it's not my fault" will not fly in court. Trust me on this one.

Answer 7

BANK ERROR IN YOUR FAVOR COLLECT $2,875,019! Maybe in Monopoly but not in America! Though it did happen that my friend got $1,300 put in his account and he used some! The bank was upset with him and told him he must pay it back but no legal issues like all these people are trying to scare you with! It's their error so for him it was kinda like he got an interest free loan =P It's up to you whether you spend it but if I were you I'd tell them about it. Good luck =)

Answer 8

First, figure out how to pay the money back. They will find their mistake and take the money out of your account. If you withdraw it, you will probably be in BIG trouble.

Answer 9

Contact you bank and notify them of the mistake

Answer 10

that money is not yours to spend. the bank will find out about the mistake and come looking for the money. if you spend it, that's stealing and you will be prosecuted.

Answer 11

u should tell them,before u get into serious trouble..it would be nice to have that but hey is going to be worth all the trouble when they find out their mistake..