Comments on: 10 Things Everyone Should Know About Bank Errors

By: John

John — Thu, 28 Feb 2008 04:44:13 +0000

What if the bank dispensed 50s instead of 10s? Plus, the bank ATM is not our home bank’s, will they still ask for the money back?

By: ~J~

~J~ — Fri, 22 Feb 2008 07:56:13 +0000

I once had $700.00 deposited into my checking by mistake.
I called the bank and they told me that their would be a hourly charge to track the mistake and my best bet would be to let it sit there until the mistake was caught. So 3 months later I inquired about it again and they told me just to spend it. It’s been 3 years and I never heard anything else about it.
I guess who ever actually deposited the $700 either did’nt really need the money or never veiwed their bank statements.
Whatever the reason neither of the two are uncommon.

Act Fast on ATM Issues
You only have 60 days to report an ATM transaction error. So, if the ATM records show that you took out more money than you actually did or vice versa, you must report it promptly or you are out of luck. (This goes for any bank error)

So if someone is very wealthy and are not watching every penny makes a deposit and it accidently goes into someone elses account they may never realize it.
And then yes you can keep the money.

$10,000 is like $10.00 to some people, I would think a $10.00 difference was a miscalculation on my part.
Keep Quiet, Keep Dreaming, I’d say a year should be sufficiant.
And then spend away.

By: Dave

Dave — Sun, 23 Dec 2007 04:03:17 +0000

You make a good point Coleman. A certified letter is always preferred to a phone call. The reality is most people - because of cost and hassle - are much more likely to just pick up the phone - especially when making those first phone calls trying to determine what is going on. Documenting those calls (who, what, when, where) is much better than relying on memory down the road.

Thanks for the excellent suggestion.

By: Coleman Smith

Coleman Smith — Sun, 23 Dec 2007 03:52:17 +0000

I think it is bad advice to tell the readers to call the bank. Telephone calls that are not recorded are hard to prove.

Write a letter and send it by certified mail – return receipt requested.

I had a bank put $ 3,000.00 in my cashing account one time and it took two weeks to get it straighten out.

When I talked to a teller she said that they would eventually catch it on a “hard audit”, what ever that is.

Eventually they did correct it.

By: Brad

Brad — Mon, 10 Dec 2007 14:34:35 +0000

A great article! I liked it so much I put it on my blog with a link back to you. You may find it here: http://bumchecks.blogspot.com/2007/12/bank-errors-10-things-you-should-know.html