My rights if bank deposit extra money ...

[PrinceMS]

I deposited some money into my bank account. the guy counted with machine and deposited. It seems its more than what I counted. Just wondering if they do come back to me and say that they deposited more money, what are my legal rights?

[sportsfan99]

You really have no legal rights.If in fact you put more in then you counted the bank will catch up for the most part.

[15-20_God]

you are legally entitled to what you deposited, not what the teller deposited by error.

[poedua]

Are you thinking of accepting the banks total even though you know it is more than the total you came up with ?

if you know your lower total is correct why not just the tell the bank of their error and lower the deposit amount to the total you think is correct ?

Seems pretty simple to me - what do legal rights have to do with anything ?

[Daemar]

Their auditors will catch it.
Eventually you may see an adjustment to your account.

If they don't catch it, you're in the clear.

[findingnemoscar]

I use to work for TD Bank. Do not use the funds that belong to the Bank unless you plan to pay it back. I saw this happening on at least 7 occasions.

You will receive a file and note from a third-party agency the bank will send after you...not exactly a collecting agency but probably someone with more bite in terms of threats. Sorry, the name escapes me.

The banks reconcile their balances all the time so eventually, they'll figure it out. Just give it back to them. Maybe they'll waive service fees for their boneheaded mistake. :)

[Txiasaeia]

I deposited some money into my bank account. the guy counted with machine and deposited. It seems its more than what I counted. Just wondering if they do come back to me and say that they deposited more money, what are my legal rights?

If the bank accidentally short-changed you, you'd expect to get your money back, right? It's only courteous to do the same thing for your bank.

[ichpen]

I agree with the above. You won't get thrown into jail for omitting to divulge the information but don't get ahead of yourself and spend their money. They will automatically adjust your balance when they realise.

Now when an ATM decides to dispense extra $20s... Well, that's a different story.

[sportsfan99]

They won't toss you in jail but they can freeze your account.

[PrinceMS]

Cashier confirmed the amount with me and then he says its more. I told him to count it again, he said he put it in the machine so it should be accurate :confused:
so I don't really want to argue when they are giving me more money?
Its not that much different that original amount < 10%

[Daemar]

I agree with the above. You won't get thrown into jail for omitting to divulge the information but don't get ahead of yourself and spend their money. They will automatically adjust your balance when they realise.

Now when an ATM decides to dispense extra $20s... Well, that's a different story.

Not really, they keep track of things pretty good. I've had a friend who got an extra $20 and was pretty happy until 2 weeks later when they adjusted his account. The worst experience is when it shortchanges you $20. You have to go into the bank, talk with someone who tells you they can't help you and that you have to fill out some form. Then you have to wait until they reconcile everything and if there is a $20 discrepancy, then they cross reference your form with the records for that particular bank machine. A credit will then be processed for your account.

[poedua]

Cashier confirmed the amount with me and then he says its more. I told him to count it again, he said he put it in the machine so it should be accurate :confused:
so I don't really want to argue when they are giving me more money?
Its not that much different that original amount < 10%

What was the total $ amount of the deposit ( i.e how much is less than 10% ) and how many paper bills were fed in to the counting machine ( so many, they couldn't be counted manually ? ) ?

Couldn't the teller manually count the money in front of you or you re-count it in front of the teller to verify the deposit total if you were certain the bank's machine total was wrong ?

If the bank is making an error on your account why WOULDN't you want to argue - they're scewing up your account after all.

[sportsfan99]

Cashier confirmed the amount with me and then he says its more. I told him to count it again, he said he put it in the machine so it should be accurate :confused:
so I don't really want to argue when they are giving me more money?
Its not that much different that original amount < 10%

Do not touch that money what ever you do for the next week.

[yiggy]

maybe YOU counted incorrectly.

[me!]

I once deposited 200$ in an instabank machine. (i know, because it was a payment someone made to me! and I counted, twice), and when I checked my statement at the end of the month, the transaction record said: "keyed: 200 Dep. 250"

So they gave me an extra 50$ woo hoo.

This was last year and they have never called me! up on it nor taken the money back.

[sportsfan99]

You should have called the bank and asked the to correct it.The next time it very well could work the other way.There is no such thing is free money.

[poedua]

I once deposited 200$ in an instabank machine. (i know, because it was a payment someone made to me! and I counted, twice), and when I checked my statement at the end of the month, the transaction record said: "keyed: 200 Dep. 250"

So they gave me an extra 50$ woo hoo.

This was last year and they have never called me! up on it nor taken the money back.

Why don't you give them the $50 back - it belongs to the bank.

[me!]

Why don't you give them the $50 back - it belongs to the bank.
lol :D

[sportsfan99]

Well next time you could be minus $50.00 and don't cry about it whats fair is fair.

[hagbard]

Not enitrely on topic, but many years ago the financial institution I was dealing with for my RRSPs was bought out by another financial institution that was soon bought out by yet another. Well, in all this, they lost about $6000 in cash and mutual funds. I had tons of fun calling each institution asking where the phuck my money was. Each said they weren't responsible and blamed the other. This went on for three months. In the end, they completely screwed up and I wound up a few thousand ahead. You think I'd tell them? Shyt no. In my view, they owed my thousands just for the aggravation.

[sportsfan99]

The bank does have a legal route they can go if you don't return money thats not yours.The same can be said if you they don't return money thats yours.Taking a few grand is the same as going to the bank and robbing them.

[Emancipated]

The bank does have a legal route they can go if you don't return money thats not yours.The same can be said if you they don't return money thats yours.Taking a few grand is the same as going to the bank and robbing them.


Give me a break. Those banks are in and of themselves thiefs.

Spend the money and be merry.

[sportsfan99]

You can't be for real you would take money thats not yours and spend it.

[Emancipated]

You can't be for real you would take money thats not yours and spend it.


I would.

Look, everyone is ripping one another off these days. It's all about self aggrandizement. Then again, I'm not saying you should go point a gun at someone and rob them, that's not what happened here.

[sportsfan99]

For the most part its the same thing.So of the bank took out $50 you would be good with that.

[findingnemoscar]

I'm telling you...as a former bank employee, you will be screwed over TWICE if you spend the money AND DO NOT have the funds to pay it back when the come knocking on the door.

If it's really worth your trouble to use the money that isn't yours to begin with, then do as you please. You've been warned ;)

[me!]

Give me a break. Those banks are in and of themselves thiefs.

Spend the money and be merry.
lol :D

I didn't see them bent over backwards to return $ back to me! when they removed 40$ from my account before this incident. even after weeks and weeks of arguing and requests and personal meetings with bank staff, they said, tough luck, buddy. our staff and our computers are *never* wrong. it must be your mistake, because it certainly is not ours.

What do you think I should do? (read the sarcasm here)

[sportsfan99]

It does not matters if you don't give the money back they will get it back.

[me!]

It does not matters if you don't give the money back they will get it back.
been one year and counting.. I'll let you know when that happens. :D

[krazykrazz]

Along these lines, this is a really good read about getting extra money from a bank. :)

http://www.goodthink.com/$$tablecontents.html

[Bordello]

Am I the only one here who thinks that banks should be penalized for their mistakes?

[sportsfan99]

Am I the only one here who thinks that banks should be penalized for their mistakes?

Yes but as a banker you sould aslo be penalized if you don't return cash thats not yours.

[poedua]

lol :D

Sorry, just so i understand..... why are you keeping $50 that you know doesn't belong to you but you DO know belongs to the bank ?

Why don't you just notify the bank and alert them to the mistake ?

Just curious as to the reason you'd keep your mouth shut and just not correct the error ?

And the reason is........ ?

[poedua]

Am I the only one here who thinks that banks should be penalized for their mistakes?

What sort of penalty did you have in mind - if the mistake is to my advantage it stays untouched, if it isn't...... it gets corrected asap ?

[sportsfan99]

If you call the bank asap yes then no you should not be penelized at all.But if you don't report it then first offence $5.00 if it shall happen again and you don't report it $10.00 and third time a 30 day freeze on your account.

[poedua]

If you call the bank asap yes then no you should not be penelized at all.But if you don't report it then first offence $5.00 if it shall happen again and you don't report it $10.00 and third time a 30 day freeze on your account.

I thought you wanted to penalize the banks ?

[sportsfan99]

No the people that take the money and run.

[aquariaguy]

Sorry, just so i understand..... why are you keeping $50 that you know doesn't belong to you but you DO know belongs to the bank ?

Why don't you just notify the bank and alert them to the mistake ?

Just curious as to the reason you'd keep your mouth shut and just not correct the error ?

And the reason is........ ?

Because he's going to get bad karma and get robbed of his $50. What comes around goes around. Don't worry, he'll get his share. :cheesygri

[runamuck]

your rights are to be honest citizens


blah blah blah....

[me!]

Because he's going to get bad karma and get robbed of his $50. What comes around goes around. Don't worry, he'll get his share. :cheesygri


i've already gotten my share of bad karma along the way. a lot more than what I would like. it's about time someone else gets it and something good comes my way. if it happens to be a bank then so be it. they can take it back when they find out. After what they did to me! about my 40$, i've had enough of it with them.

you honestly think I am going to ask for more punishment after they whip cracked me! in the azz during that incident?

OOOH. i really like getting burnt, can I get more azz whupping please? (read the sarcasm here.)

[poedua]

i've already gotten my share of bad karma along the way. a lot more than what I would like. it's about time someone else gets it and something good comes my way. if it happens to be a bank then so be it. they can take it back when they find out. After what they did to me! about my 40$, i've had enough of it with them.

you honestly think I am going to ask for more punishment after they whip cracked me! in the azz during that incident?

OOOH. i really like getting burnt, can I get more azz whupping please? (read the sarcasm here.)

Bbut it's not your money ?

And you know it belongs to the bank ?

And you're not going to give it back just because the world's been a little unfair to you ?

Sounds like the same lame excuse my 15 year old gives me when he doesn't want to make amends for something stupid he's done - but, he's still immature and doesn't know how to handle situiations like yours with integrity and a sense of right and wrong.

Something tells me he's not alone.