Unknown Deposit

[Muddawg]

What is the name of your state? Michigan

I am unsure what I should do, I had a deposit of approximately $350 into my account. I assumed that this was my income tax return that I have been waiting which is approximately the same amount. So I then happily withdrew and spent how I saw fit. Now over a month later the bank is calling asking for there money back which I dont have. What is my obligation in this matter?

 

[seniorjudge]

What is the name of your state? Michigan

I am unsure what I should do, I had a deposit of approximately $350 into my account. I assumed that this was my income tax return that I have been waiting which is approximately the same amount. So I then happily withdrew and spent how I saw fit. Now over a month later the bank is calling asking for there money back which I dont have. What is my obligation in this matter?

Q: What is my obligation in this matter?

A: Give the bank their money back.

 

[Muddawg]

I dont have it. My funds are extreamly limited they should be thankfull to me for all the over draft fees they have so happily taken.

 

[ENASNI]

umm

What about your Real Tax Return...

 

[Muddawg]

Still has not shown up yet.

 

[Shrike1070]

give it to the bank when it does. case closed.

 

[seniorjudge]

give it to the bank when it does. case closed.

--sound of gavel banging--

 

[Veronica1228]

--sound of gavel banging--

I don't know about you judgey, but I am getting sick of this question.

"...my bank made a mistake and put money in my account. What should I do......?"

Maybe we should perform a public service to lawyers everywhere and encourage them to spend it. After all, someone will need to defend these people when they are sued by their bank.

 

[seniorjudge]

I don't know about you judgey, but I am getting sick of this question.

"...my bank made a mistake and put money in my account. What should I do......?"

Maybe we should perform a public service to lawyers everywhere and encourage them to spend it. After all, someone will need to defend these people when they are sued by their bank.

Or get arrested for theft.

This happened to me once. I had the hardest time convincing the stupid bank that they had made a mistake...but I never once thought it was mine!

 

[Veronica1228]

Or get arrested for theft.

This happened to me once. I had the hardest time convincing the stupid bank that they had made a mistake...but I never once thought it was mine!

Yes, but you have a fully functional brain. Therefore, you know that it is not smart to knowingly take money that does not belong to you.

What people don't understand is that banks have Research and Adjustment departments. If they have $500 in their account that does not belong to them, someone is missing that money. Eventually they will trace it back to their account and then take it back. Always!!! If the money is no longer there, they will debit it anyway, or take legal action.

I'm surprised you had to convince your bank to take the money back. The bank that I work at will debit it now, and research it later. No questions asked. If you were asking for a credit on the other hand, they do the opposite. Research it now, and credit it later.

In the OPs case, it sounds like it was a misjudgement (if you take their post at face value), but the money is still owed to the bank asap. I just wanted to reiterate that.

Okay. Tirade over.

 

[seniorjudge]

Actually...I started balancing three months worth of checkbook statements and noticed that I had gotten the money two months ago. I called the bank and said there was an error on my statement two months ago.

The snotty teller said that if I didn't report an error within ten days, then the bank considered the statement correct and hung up on me.

So, it took a few more calls before I could convince them to even look at my account.

 

[Veronica1228]

Actually...I started balancing three months worth of checkbook statements and noticed that I had gotten the money two months ago. I called the bank and said there was an error on my statement two months ago.

The snotty teller said that if I didn't report an error within ten days, then the bank considered the statement correct and hung up on me.

So, it took a few more calls before I could convince them to even look at my account.

The snotty teller was lazy and didn't want to have to take the case on. We have a similar clause in our disclosures (ours is 30 days after the statement is sent out), but we will usually research it anyway and make the adjustment if needed.

Sounds to me like you should change banks.