a bank is trying to screw me over what do i do?

Question

I have a problem im with capital one they credited money to my account 100+ dollars i spent all but fifty dollars of it they took the money back this week i made some purchases that cleared but since they took the money they say the purchases overdrew my account and i owe -118 dollars can they legally do that since the money was there when i spent it

Thanks for the help though most of the anwsers have me feelin kinda down the bank did indeed owe me money and had to refund me over draft fees though im not sure why they removed it i am banking with capital one and i may pay them if i feel like it but for now that account is won`t be used and im opening a savings account at chase i have decided to never put all my money in one place cause banks have proven to be underhanded and un trustworthy

Answer 1

If YOU did not put the money in your account, it was not yours to spend. Yes they can correct their error and take the money back, and YES you owe them.

Answer 2

It sounds like you are aware of the bank made a mistake by credited your account and you are very aware of you spend half of it, and you know there is some more money (that is not yours) to spend, but before you have a chance to spend it, the bank corrected their mistake. Bottom line is, you shouldn't have spend the money that is not yours, so yes, you owe the bank money that you spend on the things that you had enjoyed or now own. It is just simply wrong for you to spend the money.

Answer 3

If I'm understanding you correctly, they credited you with that $100 by mistake, right?

If that is what happened, then yes, they can legally do that, because it wasn't your money to spend, and you knew it, and they know you knew it. A bank is entitled to correct errors, and if you took the money that was erroneously put into your account, you have to give it back. And, since the bank is entitled to charge fees on overdrafts as spelled out in the account agreement, if taking back their money puts you into overdraft, that is your fault and you owe the fees.

Answer 4

It does not sound like they could. However, are you telling the whole story? How did the money get there in the first place? Did you put it in, or was in put in by mistake and you decided to keep it rather than report it? Otherwise, call the manager, and if he will not settle the matter reasonably, threaten and report it to government regulators in some of your disclosures. Even report it to the Better Business Bureau. However, if you are not entirely honest about it as I said herein, you may just have to grin and bear it. In other words, be honest about all that you say.

Answer 5

It's your responsibility to have a register and reconcille it. No matter what money was deposited, if your reconcilled account didn't show the money there (because you were not supposed to get it in the first place).... you made the mistake.
If there was an extra $100, it would be your responibility to advise the bank of their mistake.... and act as if it wasn't there.

If the $100 was deposited correctly (and matched your records) and they withdrew it (for no reason)... you'd have a point.

Best of luck to you.

Answer 6

it will depend on why they credited the money in the 1st place. the bottom line is you should have been tracking your money and you can not blame the bank for it. It sucks but it is a lesson you will just have to learn... BUT there is hope. If you have never had an overdraft fee before you could convince them to do a one time good luck

Answer 7

Why did they take the money back? Unfortunatly, credit card companys are like that. Do you have overdraft protection, are you paying for that monthly? Be a little more descriptive in the additional comments...

Answer 8

Under U.S. Banking Law, banks have an unlimited amount of time to correct their errors. Banks are service providers and it is your responsiblity to ensure that the funds you are spending are yours legitimately.