4 ms·

I got a bonus 5k in my account once because a deposit was off by one digit. The bank was very prompt in taking their money back :)

mikeash 10y ago
I had something like that happen with a closed credit card. I don't know what the mistake was, but I suddenly had a $6,000 statement credit due to a misapplied payment. When I called to tell them, they offered to send me a check! After I declined the misbegotten windfall, they put in a little effort and figured out where it was supposed to go.
- Neliquat 10y ago
  In many contries, if they send you a check, even in error, you are allowed to cash it if you choose. I recommend consulting a lawyer, and keeping it in a seperate account for a while before spending. Local laws vary widely, some jurisdicitions will disagree. Consider local and national laws as they may appy. Ianal.
  - brianwawok 10y ago
    https://www.forbes.com/sites/moneybuilder/2012/05/24/bank-error-in-your-favor/#3ae7666e52a3 https://www.forbes.com/sites/moneybuilder/2012/05/24/bank-er... Every story I have ever heard, ended with the bank basically saying "You owe us money. Pay us it back in 3 days or we are going to the police" Seems not a good plan.
    - mikeash 10y ago
      Regardless, it wouldn't have been right to keep the money. Especially since doing so probably would have caused problems for the person who made the misrouted payment.
      - RUG3Y 10y ago
        The bank generated that "money" out of thin air. The big scam is that it's all just ones and zeroes.
        mikeash 10y ago
        That's... not how money works.
        RUG3Y 10y ago
        http://positivemoney.org/how-money-works/how-banks-create-money/ http://positivemoney.org/how-money-works/how-banks-create-mo...
        mikeash 10y ago
        I'm aware of how fractional reserve banking works. It does not mean that the money is generated "out of thin air."
      - deleted 10y ago
        [deleted]
  - Bartweiss 10y ago
    I've actually never heard a story end that way. Pretty much all of them involve the bank convincing a court that a reasonable person would have recognized the error, and therefore you need to pay up.

mikeash 10y ago

I had something like that happen with a closed credit card. I don't know what the mistake was, but I suddenly had a $6,000 statement credit due to a misapplied payment. When I called to tell them, they offered to send me a check! After I declined the misbegotten windfall, they put in a little effort and figured out where it was supposed to go.

Neliquat 10y ago
In many contries, if they send you a check, even in error, you are allowed to cash it if you choose. I recommend consulting a lawyer, and keeping it in a seperate account for a while before spending. Local laws vary widely, some jurisdicitions will disagree. Consider local and national laws as they may appy. Ianal.
- brianwawok 10y ago
  https://www.forbes.com/sites/moneybuilder/2012/05/24/bank-error-in-your-favor/#3ae7666e52a3 https://www.forbes.com/sites/moneybuilder/2012/05/24/bank-er... Every story I have ever heard, ended with the bank basically saying "You owe us money. Pay us it back in 3 days or we are going to the police" Seems not a good plan.
  - mikeash 10y ago
    Regardless, it wouldn't have been right to keep the money. Especially since doing so probably would have caused problems for the person who made the misrouted payment.
    - RUG3Y 10y ago
      The bank generated that "money" out of thin air. The big scam is that it's all just ones and zeroes.
      - mikeash 10y ago
        That's... not how money works.
        RUG3Y 10y ago
        http://positivemoney.org/how-money-works/how-banks-create-money/ http://positivemoney.org/how-money-works/how-banks-create-mo...
        mikeash 10y ago
        I'm aware of how fractional reserve banking works. It does not mean that the money is generated "out of thin air."
    - deleted 10y ago
      [deleted]
- Bartweiss 10y ago
  I've actually never heard a story end that way. Pretty much all of them involve the bank convincing a court that a reasonable person would have recognized the error, and therefore you need to pay up.