Bank Deposit Error In My Favor
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Bank Deposit Error In Your Favor
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Bank Error In My Favor Can I Keep The Money
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Bank Deposited Money Into Account By Mistake
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Bank Deposited Extra Money
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Economics of Everyday Life Legal Issues and Law in Everyday Life Banking Personal QuestionIf my bank mistakenly deposits $1,000,000 into my account, am I legally allowed to spend it before they realize their mistake?UpdateCancelAnswer Wiki100+ Answers Garrick Saito, former Corp. Controller, large public companyUpdated 78w agoBank makes an error. No law against that. Honest mistake, happens all the time.Bank corrects the error. No law against that. They've simply reversed what was not supposed to be there the first place. It's an accounting entry. You spend the money, and now your account is overdrawn. You now owe them the money that represents the negative balance in your account.Don't want to pay up? Now, you've got a problem. 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 rather; $1,000,000 inserted into your bank account or an IQ of 145+?In the UK, what bank account would suit best to save a £20,000 house deposit within 3 years?I am planning to move to New York City for a job that pays $115,000. I am in pretty low spirits once I calculated I'd be paying around $35 K i...If my bank in india mistakenly deposits into my account, can I spend it?Would you rather have someone give you $100,000 cash but you could never deposit it into a bank or escrow, or a $90,000 check that you could d... Marc ClamageUpdated 41w agoI have to include my own personal anecdote. Some years ago I was at the bank depositing some checks. The teller made the entry, then did a classic double-take when she looked at my receipt. Instead of depositing the couple of hundred dollars in checks I'd brought, she entered my ten digit account number as the amount. For a brief moment, there was almost $200 million in my checking account. She undid the transaction immediately but for about ten seconds I was a multi-millionaire. If the mistake had gone unnoticed for a day, at 1% interest I would have made about $5500 in interest. Even if it only remained posted for a minute I would have made a quick $3.80. Banks are not very understanding about these details, however.Incidentally I'm not sure whether anyone has posted this apparently true story about a guy depositing a fake check for $95,000 and getting to keep the money.A man walk