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Thread: Bank Mistake

  1. #1


    Colbalt007 Says:

    Few days back somebody made a deposit in my bank account for a few thousand dollars, I have no clue that it was. Maybe bankís mistake. The question is, can the bank legally take me to court if I donít report the mistake and the bank finds out later (in a few months/years) that I failed to report it?

    liowkc says:
    As far as I know, you are legally obliged to return the money once the bank demands it back. This is based on the legal doctrine known as "unjust enrichment". simply put, the law will not allow you to be enriched in a unjust manner.

  2. #2


    As tempting as it is report it to the bank, as a friend of mine had the same thing happen and it took months I think even a year for the bank to trace it or maybe realise it, she then had to pay the bank back as at the time she couldnt just give back the amount that had been put in as it was long gone.

  3. #3


    As much as I don't want to say this but, it happened to me when I was around 18 or 19 years old. I went to make a deposit for about $120 and the balance printed out on the back $3k something. I should o fhad about $250 with the $120 deposit. I went back in the bank and closed my account. Yes I did go shopping with my fjriends, opened a new account at another bank and had fun. I got a letter about 1 1/2 month later in regards to the over funds in my account and they wanted their ends back. Well, young as I was, I was like, "When doves fly you will get it back."

    Now that I am older, my first decision is to let them know that there is a over balance on my account which is not rightfully mines and I will have them to put it up for investigation to give it to the rightful owner. Case closed.

  4. #4


    Personally, I would let CS know that someone else's deposit ended up into my account by mistake because sooner or later, they would point fingers at me and hold me responsible for not letting them know beforehand.

  5. #5


    Correct Hjm331. This shows your honesty and your creditworthyness. When you have good credit or trying to establish credit, you are practicing good faith and honesty. I have to agree with you.

  6. #6


    Quote Originally Posted by 100008
    Correct Hjm331. This shows your honesty and your creditworthyness. When you have good credit or trying to establish credit, you are practicing good faith and honesty. I have to agree with you.
    Casting aside moraltiy and honesty issues. you have no legal duty to inform the bank about your windfall; but spend the windfall at one peril becasue the bank can recover the money from your within the statutory period (at least 6 years).

  7. #7


    Well, that is interesting that it happened and you noticed it. I would either hold onto the money or report it. What happens is like one post said, they traced it over years then demanded it at that time. Not having the money to pay it back. It was money which should not have been spent to begin with.

    Yes they can collect it by whatever legal means they have. Even when it is their mistake. This includes suing you, but keep in mind there will be many other collection efforts first.

  8. #8


    To put my two cents in, it is very hard for a bank to catch an "I don't care person" or someone who is capeable of scamming in the first place. Their are some crazy dishonest people in the world who can outsmart a bank.

  9. #9


    Banks are also scammers :) they just wear suits and have a bunch of lawyers tagging along :) :)

  10. #10


    This time, "I agree"

  11. #11


    Hi Meya

    We are not supposed to agree at all I disagree with you agreeing with me.

  12. #12


    I have to laugh at this one! Agree disagree, agree, disagree, we just don't know what to think...lol.

  13. #13


    Hi Meya

    You are right, it is really getting really confusing; I ban myself from using "agree" and "disagree" onwards.

    Whatever it is, please continue to contribute to this forum to bring out pertinent conusmer issues and whack the banks and card companies for their wrongdoings.

  14. #14


    Well here is a good thing to keep a minder of from these low-down-dirty-rotten-scandals. Banks are out to sneak up on new customers who finance a purchase with a new account. They are out to get you by approving you for a purchase, then they dont tell you that the limit that you received was over what you purchased. When you get that nice purchase home, look in the mail at your new statement or credit monitor alert and you will see that you have an account that is over-the-limit! When they do that, you get up and handle your business to make sure that they correct it and take the high balance off of your report.

    A new thing all, I talked to EX and EQ, the over the limit is only derog while it exists. Once you pay it up, it is no longer a derog. The new FICo scoring system is well aware of this with installment accounts NOT CREDIT CARDS.!

  15. #15


    Once, my old employer deposited some extra money in my account after payroll. I got excited and thought I had a bonus. I did not ask about it and did not want to spend it in case it was not really for me. A couple weeks later I found out it was a mistake.


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