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Bank Error Legal


Read your account agreement. Any issues with this approach? I'd be worried about accidentally spending part of it while waiting for it to be sorted out. Sat, May 10 2008 3:41 PM In reply to Taxagent Lawyer Joined on Mon, May 15 2000 DC Posts 16,352 re: You're not playing Monopoly here. have a peek here

I'll return the money if they contact me, but otherwise, I'm not going to worry about it. I received a transfer for $1800 which was not mine. Posts or comments encouraging others to contact the media or to post on social media will be removed. If you want a minimum of liability then you don't want to move it around.

Bank Error Bank Reconciliation

Controller, large public companyUpdated 78w agoBank makes an error. About 3 weeks after depleting the cash I for smacked with the pre consumer protection Bank Of America smack down. I have had that happen and simply "sit on it" until the bank realizes their mistake.

  1. It's advisable to go to your home bank asap to get it taken care of now permalinkembedsavegive gold[–]ioannium 0 points1 point2 points 1 year ago(0 children)Wait and see is all well and good,
  2. Author: Dave Nielsen I started using computers in 1978 on the Apple II and was first online (using my “high-speed” 1200 baud modem) in 1989.
  3. Nonsense.
  4. I would, as others have suggested, notify the bank again but document this -- i.e.
  5. Over at Bank A, they were only showing two withdrawal requests so far.

If the error went the other direction, would you respond in the same vein and tell the bank to hold tight? Sun, May 11 2008 2:09 PM In reply to Denise, Community Director (Admin) Consumer Joined on Tue, Apr 20 1999 NJ Posts 3,022 Fxston, Reply You are incorrect - the account If he changes the account type but leaves it in place, there is no risk. Bank Error In Your Favor Statute Of Limitations permalinkembedsavegive gold[–]Wanderlust917 2 points3 points4 points 1 year ago(0 children)http://en.wikipedia.org/wiki/Unjust_enrichment permalinkembedsavegive gold[–]Reddisaurusrekts 1 point2 points3 points 1 year ago(1 child)Since most of the advice takes effectively a wait-and-see approach, could the OP not draw a

permalinkembedsaveparentgive gold[–]Bagellord 4 points5 points6 points 1 year ago(19 children)True. Bank Error In Your Favor There have been people who returned the money on their own, only to have the accountants/auditors catch the mistake a month later and demand the money AGAIN. 1 DavidScubadiver Hi, I'm Regardless of his interpretation, if they claimed suit because he transferred the money is his mistake on par with the original bank wire mistake? We're looking at the opposite.

Just as the bank penalizes you for mistakes to "teach you a lesson," so might they too learn from their mistakes. Bank Error In Your Favor Movie It would be a good idea to do this on another site; there are plenty to be had. Most of these were items processing (cash letter) exceptions versus electronic ones, but honestly any exception of under $300K wouldn't have even been on the radar at that time unless a Most banks will give you some minimal interest if you have at least a few tens of thousands in the account.

Bank Error In Your Favor

Uh oh. Or does it mean that the interest belongs to the intended recipient, and nobody bothers to pursue that claim? Bank Error Bank Reconciliation That's how I designate when I'm holding someone else's money. Bank Error Laws See a local attorney for the best answer to your questions.

But are we about to start seeing many more of these stories? navigate here The fees charged are disclosed in the account agreements and can be avoided by keeping the account current, not exceeding your credit limit, not bouncing checks, etc. Sat, May 10 2008 2:04 PM In reply to chloezoe Joined on Thu, Oct 13 2005 Posts 806 re: Bank error in my favor Reply Additionally, it is my understanding that send them an email, or record your conversation (Colorado is a one-party consent for recordings I believe), but don't inconvenience yourself for a mistake that wasn't yours. Bank Error In Your Favor Saints Row 2

Maybe one day you too will have associates to do the grunt work. permalinkembedsaveparentgive gold[–]dustotepp 1 point2 points3 points 1 year ago(0 children)Does anyone know what you should do with this so you would be able to prove the money wasn't yours in the event of Comment by Anonymous -- Sep 13th 2010 @ 12:55 pm I once had a ~$2200 bank error in my favor. http://sovidi.com/bank-error/10-m-bank-error.php I thought my balance was higher than I expected, when I closed my account out!

Didn't the first sentence say hypothetical? Bank Error In Your Favor Monopoly Please select a reasonfor your RED vote: Disagree with OP Wrong Forum Repost Send Spam, Referral or Self Promotion Send Not Enough Info Other Send Thanks for the Feedback! I made a deposit by check/cash and received a receipt, but the bank says that its records do not reflect the deposit.

You spend the money, and now your account is overdrawn.

permalinkembedsavegive gold[–]john1836[S] 8 points9 points10 points 1 year ago(2 children)No, nothing! If the attorney must be paid (for something a free consultation won't cover), could you pay for the attorney fee out of the account? THANKS FOR YOUR RESPONSE!I dont if I understand. Bank Error Letter To Customer Major bank in Calif.

Transfer it to a high interest account and accumulate interest until the error is discovered? Photograph: Andy Rain/EPA Saturday 9 February 2013 02.01 EST Share on Facebook Share on Twitter Share via Email Share on LinkedIn Share on Google+ Share on WhatsApp Share on Messenger Three years The bank can move it out when they get their shit together, and if he doesn't have it, that will be a legal problem. this contact form He absolutely deserves to keep that money if they won't provide him a written explanation.

permalinkembedsavegive gold[+][deleted] 1 year ago(2 children)[deleted] [–]belmincour 1 point2 points3 points 1 year ago(0 children)Yes in general it is technically theft to retain cash that you know doesn't belong to you. I have no real legal advice. The fees and charges are published information customers have access to. Large corporations have actual accountants looking at stuff and reporting to the SEC and IRS regularly; small companies have the owner personally doing the bookkeeping, and every single transaction is itemized.

The money's been spent, she says, and she can't afford to repay. But $1 million? After some period of time (ask the bank or an attorney who feels like looking it up), I think you will then have rights to it. OP can probably take the cost of cutting the cheque and postage from the incorrectly transferred amount and only sending the balance too.

permalinkembedsaveparentgive gold[–]Rangsk 0 points1 point2 points 1 year ago(1 child)I have no expertise at all about this, but I assume it comes down to paper trail. permalinkembedsaveparentgive gold[+][deleted] 1 year ago(1 child)[deleted] [–]DookieDemon 1 point2 points3 points 1 year ago(0 children)But it is legally questionable. That makes it a theft at worse, and dishonesty unbecoming an attorney at best, and many an attorney has been disbarred for less."On a related note, one is obligated under the permalinkembedsaveparentgive gold[–]boathole 16 points17 points18 points 1 year ago(10 children)You're conflating the two area of law.

Please see the following article, before deciding to flee the country.Bank Error in Your Favor? - Forbes641.5k Views · View UpvotesRelated QuestionsMore Answers BelowIf you were 18 again, what would you Unlikely enough not to seriously worry about, but I'm still interested in what would happen if it did. Who's money is this? Why FatWallet? •Cash Back when you shop •Best Deals of the web •Helpful forum community •Excellent customer service •FREE membership User Agreement Hide Privacy Policy Hide Why FatWallet?

Could your account handle a $4,000 debit?