It would cross my mind on who made the deposit , but will be about it .
2007-11-19 12:34:34
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answer #1
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answered by Anonymous
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I've never heard of anything like that. It sounds unlikely at best, for a couple of reasons. First, you're basically describing a loan. You'd be borrowing $500,000, and then deposit it with the bank to earn maybe 5%. But I bet you'd pay more than that in interest. So the net result is that you're losing money. If you didn't deposit the money in the bank, you could put it into the stock market. That's a pretty risky way to fund your retirement, though - if the market does better than the interest rate, great. If not, you're going to owe probably at least $2500 a month to make just the interest payments on the loan if the rate is only 6%. And if you have a loan that big, and it's not secured, I bet you get an interest rate that's a lot higher than 6%. Finally, if you can pay $2500 a month, you can afford to fund an IRA fully in just a few months - you probably don't need to worry about retirement, you've got a pretty good income stream already.
2016-04-04 23:15:49
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answer #2
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answered by Anonymous
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This actually happened to me once. I opened a CD account and transferred $4,000 over from my checking account. Due to a bank error, two $4,000 accounts were listed when I logged into my bank's website (yet only $4,000 was taken out of my checking account). I did the right thing and called the bank the next morning; I joked with the person on the other end, saying that I could use the extra $4,000 -- but didn't want to take any chances.
If I was still a broke college student, I may have withdrawn the money and hope not to get caught.
2007-11-19 12:37:06
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answer #3
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answered by bullet_to_the_brain 4
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Dude that would be sooooooooo sweet. And it depends on how much money was deposited. IF its like 100k or more then i would spend it little by little so if i do get caught then i probably could pay it back because chances are they are gonna catch me before i can spend it all. But if its under 100k then i would just buy whatever i wanted. Then when they asked me where all the money went and why i spend it i would make up a big lie about how i thought (my mom or somebody gave it to me) i would go completely dumb lol.
>:D
2007-11-19 12:37:09
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answer #4
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answered by spiralls 3
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I would contact the bank. That could be someones hard earned money put in the wrong account by the bank. If not by the bank then I still wouldn't touch it and be concerned how someone got my account information, therefore calling the police.
2007-11-19 12:35:07
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answer #5
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answered by Anonymous
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I'd try to trace where it came from. If I found out it was a mistake and not some rich uncle giving me a surprise present then I would notify the bank and also I would ask the rightful owner to pay me for my time in dealing with the matter. I think that's fair.
2007-11-19 12:34:56
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answer #6
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answered by the Boss 7
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I would want to know where it came from. I would call the bank to try and straighten it out. If it wasn't mine, I wouldn't want it. That is stealing and I wouldn't want to do that. If I was a banker and I made a stupid mistake like that I would hope an honest citizen would realize it before I got into trouble. Everyone makes mistakes sometimes. Anyone who would keep it would probably steal money from your purse if it's left unattended.
2007-11-19 12:35:20
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answer #7
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answered by Susan29 2
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I'm not sure what the law says. I'd hafto do some research on that. But since its your bank account you should be able to see where and who the money came from, contact them about it, and see just WHY it was placed there. But I guess technically, if its there its there. Dont spend it all in one place.
2007-11-19 12:34:22
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answer #8
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answered by kk_jediknight 3
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I'd be scared that my account was being used for something illegal, so I would contact my bank ASAP. I've read too much about con artists and Nigerian scams lately to feel safe with that much extra money in my account---it must have come from somewhere, and I wouldn't want to get killed off if someone decided that I was a danger to their little money laundering scam. Plus, I wouldn't want to get put in jail for stealing.
2007-11-19 12:37:25
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answer #9
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answered by Anonymous
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i would do nothing,,
literally ignore the excess funds for 3 months,,
the banks are legally obliged to notify you of any withdrawals that are not autorised by you the account owner,, so they have to ask you in writting for the money back
you are allowed to keep the interest earned on the money if you choose to give them it back,, but after 3 months your not obliged too i have been told,,
the banks have systems in place to prevent this from occuring,, so for it to happen they have breached the banking codes of conduct/procedures ,, hence they have to play nice and ask,,
should a bank ever remove money from your account without you giving permission your entitled to compensation
2007-11-19 12:54:42
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answer #10
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answered by retail rebel 2
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I would let the bank know of the mistake...because it's the right thing to do
2007-11-19 12:35:28
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answer #11
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answered by Jen 4
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