bank mistakes, check holder mistakes
2007-08-30 07:03:02 · 9 answers · asked by favcoredb05 1 in Business & Finance ➔ Personal Finance
if, and when the bank figures out there mistake they will debit your account for the amount of the error. if, however, you do not have sufficient funds, they will first contact you to let you know that they made a mistake posting another transaction.hope this helps ya!
2007-08-30 07:12:08 · answer #1 · answered by brittney lynn 2 · 0⤊ 2⤋
The bank will find their error (there is no statute of limitations, so in 10 years if they figure out the error they can fix it)...so if you use the money and debit your account and it overdraws you then you will have to pay overdraft fees.
Not to mention the moral implications...you know that money is not yours, so why spend it as if it were yours. That money belongs to someone, they are short...maybe it is their grocery money...so you should call the bank and tell them your account was credited by money that is not yours, this will help them to find the error faster and fix it so the person who's money it is can get it back that much quicker.
2007-08-30 15:04:37 · answer #2 · answered by Anonymous · 0⤊ 0⤋
When the bank finds the mistake, and they will, they will take the money back out of your account. If you have already withdrawn the money, you will have a negative balance and possibly fees for being overdrawn. Don't take money that isn't yours. It is the same as stealing. And you may have to pay additional fees for doing so. The money that ended up in your account belongs to somebody, and they will go looking for it.
2007-08-30 14:13:23 · answer #3 · answered by moonbeam 3 · 1⤊ 0⤋
personally this never happened to me but just recently i saw on the news a guy who was fired and he went to cash his last payment from that card and to his suprise he was asked at the bank if he wants it all, it was a huge sum more than 35 times his regular salary and he asked an account checking . it appeared that over the past year someone was depositing there huge sums of money in the same day of the month that was quickly cashed in the same day without him to have ever discovered. of course it was with complicity from inside his bank
of course it wasn't legal so he could have just taken the money, but they knew where he lived so if he wasn't an action hero then his decision to go to the police was good
2007-08-30 14:23:27 · answer #4 · answered by ParaskeveTuriya 4 · 0⤊ 1⤋
They have a right to reverse the transaction that put the money in. If this results in your being overdrawn, it's your problem.
Trying to benefit from another's error is legally called "unjust enrichment".
2007-08-30 14:49:36 · answer #5 · answered by Ted 7 · 1⤊ 0⤋
well it depends....have you checked to see if anyone you know put it in there? if you have and no one did then for shame.....its kinda like the situation when you are walking down a street and you see someone drop a twenty or something....or the whole wallet or whatev.....you know its theirs....so do you keep it or give it back.....same thing with the bank.....you know its their money. so the ball is in your hands.....what are you gonna do?
2007-08-30 14:12:18 · answer #6 · answered by Anonymous · 1⤊ 0⤋
Bank error in your favor? Your problem
2007-08-30 15:07:30 · answer #7 · answered by Craig T 6 · 0⤊ 0⤋
when they find out, they will make you give the money back...bad idea, just go to the bank now and let them know
2007-08-30 14:10:29 · answer #8 · answered by railer01 4 · 4⤊ 0⤋
If you are an adult and the account is in your name, the money is yours to do as you wish. Who put the money in has nothing to do with it.
2007-08-30 14:53:31 · answer #9 · answered by Anonymous · 0⤊ 2⤋