Deposit To Bank In Error
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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 bank deposit error in your favor allowed to spend it before they realize their mistake?UpdateCancelAnswer Wiki100+ Answers bank deposit error in quickbooks Garrick Saito, former Corp. Controller, large public companyUpdated 79w agoBank makes an error. No law against that. Honest bank deposit error in my favor 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 bank error bank reconciliation 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? - Forbes643.4k Views · View UpvotesRelated QuestionsMore Answers BelowIf you were 18 again,
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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 42w 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 undi
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Debt Student Loans Job Tips Saving and Investing Credit Tips Retirement Insurance Taxes View More Personal Finance Budgeting & Personal Finance Retirement Decisions Home Buying & Selling Credit & Debt Management View All Money Hacks Contests & https://www.thebalance.com/can-bank-make-deposits-to-wrong-account-2386128 Sweepstakes Frugal Living Freebies Coupons & Bargains View All Your Career Job Searching Management http://www.aol.com/article/2009/12/09/bank-deposit-error-in-your-favor-give-it-back/19253748/ & Leadership Human Resources Career Planning View All Small Business Small Business Information Online Business Entrepreneurs U.S. Business Law & Taxes View All Investing Investing for Beginners Stock Investing U.S. Economy Mutual Funds View All Getting Started With Money What Happens If the Bank Makes a Deposit Into the Wrong Account? Share Pin Email Creativ Studio Heinemann/Getty error in Images Getting Started With Money Banking Banking Issues Finding a Bank Your Accounts Basics Managing Your Debt Student Loans Job Tips Saving and Investing Credit Tips Retirement Insurance Taxes View All By Miriam Caldwell Updated May 28, 2016 Mistakes happen at any business, and banks are no exception. There have been times when a deposit has mistakenly been credited to the wrong person’s account. When this happens, the bank will reverse the transaction error in your and credit it to the correct account, but it can affect a number of things. It is important to understand your responsibilities in this situation.If your deposit went to the wrong account, you should notice that your bank balance is lower than it should be.  It is a good idea to balance your checkbook on a regular basis so this is caught almost immediately. This will prevent you from having to deal with the expenses of returned checks or fees from businesses. As soon as you realize the error, you will need to contact the bank and explained what happened. The bank will likely need a copy of your receipt so that they have a transaction number to begin looking into the issue. Once they have done the research, they can reverse the transaction from the other account and credit you back the money. They may be willing to reverse some fees if you overdrew due to this happening. However, that is at the discretion of the bank. It helps to approach this calmly and to be polite throughout. If you start out yelling at the representative, he will not go out of his way to help you out.If you had money accidentally deposited into your account, then you need to contact the bank and
Retirement Real Estate My Portfolios Resources Finance Collective Bank deposit error in your favor? Give it back Before you go, we thought you'd like these... READ MORE READ MORE READ MORE Share Aol.com Editors Dec 9th 2009 1:00PM Remember when Uncle Billy in It's a Wonderful Life loses the bank deposit, and George's troubles ensue (and a holiday classic is born)? Or when Loretta Castorini in Moonstruck forgets a bank deposit as part of a series of comedic misunderstandings? Bank deposit bloopers happen in real-life as well, but the dollar amounts are considerably higher and the bank deposit bloopers are often caused by the bank, not the customer. And, the end-results of these bank deposit bloopers are, unfortunately, not always as heartwarming as in the movies. Take Randy and Melissa Marie Pratt, whose perceived windfall turned into jail time, when they took an erroneous bank deposit and ran. Melissa made a bank deposit to FNB Bank in the summer of 2008 of $1,772.50, but the bank read the check as $177,250. When the central Pennsylvania couple saw the difference in their bank balance, they wrote checks to another account, quit their jobs, bought a new vehicle and moved to Orlando, Fla. They were in the process of buying a house before the bank deposit mistake was traced. When a New Zealand bank worker mistakenly changed Leo Gao's overdraft limit this May from $62,000 (USD) to $6.2 million (USD; NZ $10 million), he and his girlfriend withdrew $2.3 million, closed their failing gas station and fled to Hong Kong, where the police pursued them. The couple is still on the run and have developed an online following, inspiring Facebook fan groups as well as a parody song on YouTube. James Falzone made a bank deposit of $630 at Barnett Bank in New Port Richey, Fla., back in May 1985; a teller marked the bank deposit as $63,000. Falzone withdrew $47,000 four days later and