Hey guys, this community has so much knowledge and I thought u could help me out. So I woke up this morning with all this extra cash in my account. The description is vague AF, a few letters and some numbers. I have notified my bank about the transaction. I was wondering if anyone knows what happens if no one claims the money? Thanks y’all.
I Woke up to an Extra $7,000 in My Bank Account
Gillawarna87 on 09/01/2019 - 17:11
Comments
- 1
- 2
Mistakenly huh? I made mistakes too. I thought it was a gift. Sorry opps. I'll pay it back in instalments. I promise.
@[Deactivated]: But what's the point? Either way, you're giving it back. However one of the ways involves you committing fraud.
You sure its not pay-week? Alot of companies pay bonuses around this time of year.
Thanks for the reply. Nah we get paid at the end of the month and it sure isn’t $7000!
7K? Most people are lucky to get a Chrismtas card from their company these days.
This happened to me about two years ago… Except it was 50,000 and I freaked out and called the bank straight away. The guy who took the call had no idea what to do and got his manager. I was worried if I transferred it to my high interest savings account then I'd get in trouble. I regret that now because probably nothing would have happened. The bank probably would have noticed eventually and just asked for the 50k back.
Wow, I would be worried only if I get shipment of guns or c4 or tnt too.
Thanks for the reply. So what happened?
They just said 'thanks for letting us know' and within about 24 hours the money was gone from my account. For some reason I was expecting a bigger thanks or something but they were just like 'ok, we'll fix that for you. sorry about the inconvenience'.
I know why it happened though. I had ordered a bank cheque for 50k and then returned it because I didn't end up needing it (for buying a house) and they credited my account twice.
Happened to a chick I know, but was to the tune of 25 million or so.
Notified the bank and they took it back pretty quickly.Personally would’ve been tempted to set up a Swiss account and abandoned ship, Australia’s nice but 25 mill in a non-extradition country doesn’t seem too bad either 😂
I imagine the 7k will disappear by tomorrow
https://en.wikipedia.org/wiki/List_of_Australian_bilateral_t…
All decent countries are there, so you would have to hide in third world' one and the outcome may not be quite what you expect. I was laughing when watching The Next Three Days. Russell Crowe and his family would not survive an hour in Venezuela if anybody got an idea of them having a stash of cash. Easy target and no risk.
Don't believe Japan has extradition so is feasible to take the money and run. Although you'd always be worried they'd change their laws lol.
Yeah, but Japan also doesn't sell citizenship or permanent residency (doubly so if you don't speak Japanese). So you can't stay indefinitely.
Nah, there's a couple missing that wouldn't be bad at all:
- Japan
- Greenland
- Andorra (Between spain and france, commonly confused with Angola which is African)
- Malta
And a few that are stable, but not really ideal, possible backup options:
- Azerbaijan
- Brunei
- Kosovo
- Kazakhstan
- Bahrain
- Saudi Arabia
- Kuwait
- Qatar
- China
So yeah, I reckon an early retirement in Malta would've been a fun way to spend a life. Average salary there is $28,000 AUD, so you could live like an average person for almost 900 years, or burn it up and live the life at 9x the average wage for 100 years, equivalent to us spending $765,000, leaving some for your kids and grandkids to enjoy.
I believe in doing the honest thing, if I found a wallet with $200 in it, I'd hand the entire thing to the cops. But even I have a price.
Malta will also sell you citizenship, so you won't have trouble staying indefinitely. And they're part of the Schengen area, so if you're feeling adventurous you could travel to the rest of the EU with a minimum of paper trail to set off alarms (though you might have to go by boat rather than plane).
I was recently on the other side of this, accidentally transferring a five figure sum to an incorrect account (one digit wrong).
I did get the amount refunded within a week by asking for it to be cancelled by the sending bank and by asking for the receiving bank to refund it (as I was sending it to myself at a different bank, I was able to contact them through their internet banking, quoting the transfer dates, amounts, the recipient name - mine, the recipient number and the fact that the recipient number was the same as my own account except for one digit).
I would contact your bank and inform them of the money, it's likely that someone is freaking out right now and that it'll have to be returned.
The idiot(s) above that seem to think any money that gets in to your account magically becomes yours are not only fools (certainly there have been enough cases of people being prosecuted for this that they should know better), but they're basically advocating theft.
The sending bank said if the bsb and account were invalid then it would bounce back in a few days but that if they were valid then it would be around eight weeks and the funds may not be recovered.
The receiving bank confirmed that the account was valid (and I sent a $0.01 transaction separately with my contact details in the description which never came back, confirming that the account was valid).
However the funds came back within a week, so I believe that it was contacting the receiving bank with all the relevant details that expedited the process.
An interesting point to note from that is that for a normal bank it's relatively unlikely to get a valid bsb and account number, because the bsb identifies the branch and each branch only has so many accounts, and the account number is large.
However I was transferring to ING, which has no branches and therefore only a single bsb. Accidentally hitting a valid account at ING is much more likely than at a bank which has physical branches (and assigns then unique bsb numbers, I guess they probably don't have to).
They likely would have got permission from the account holder. 8 weeks is going the legal route. Asking for permission is the fast route.
I had to call banks up for this exact matter when I worked in finance.
Interesting; from reading on the topic recently it appears that no permission from the recipient is needed if within 10 days of the transfer
Keep and if someone claims it, tell'em bugger off. It was a gift from Nigerian prince and you have the accepted his gratitude :)
Sounds like a dream come true but you always read about how you're supposed to give it back and it's a crime to use it.
Personally I would probably sit on it for at least a couple of months and wait for the bank to do something about it.So couple of factors here. Error payments are managed under two different recovery processes, informed primarily by the type of remitter. Where the funds come from an individual, it's covered under the ePayments code. The sending bank can request within ten business days for the funds to be returned at which point your account may be debited (assuming available funds) without consent. After ten business days, your bank will send a letter to which you're required to prove entitlement or they will then debit your account.
If it's a business, it's covered under BECS Procedures as a recall or request to return. In this case, you are required to provide consent.
The process is similar irrespective of the transfer method - overnight (direct entry) or fast payment (New Payments Platform). Unlike Monopoly, you're not entitled to keep the funds even in the event that the sender doesn't immediately claim. You can open yourself up to civil charges if you attempt to reappropriate or obscure.Contact your bank. They have processes to return funds. Enjoy the free interest and know that you've kicked off 2019 with a good deed.
Did you give your account details to one of those Nigerian Princes that keep emailing me? Maybe they came good? (and missed a few 0's)?
Thinking it's the most likely cause!
Happened to me decades ago when there used to be a federal deposit tax & I only found out after the money was already taken back out.
So I went to the bank & demanded the 4 cents tax that was charged to be put back in my account !Ah yes, the old "I don't put any monetary value on my time" chestnut.
This is definitely a bank account, and not your paypal right?
There's a huge scam in paypal right now where money will appear in your account, only for some Russian to email you asking for it back.
IT'S A TRAP, the initial amount submitted to your account will be pulled back after 2 weeks.
Hi thanks for the reply. Deffos my bank account.
Good on you for not lacking integrity and notifying the bank of the error.
Don't be so soft. There's no stinking honour in any of this Kakarot!
Close the account immediately and transfer all funds to North Korea.
The mistake will likely be found, and notification of correction made to you.
Nothing to lose holding it for them though.
This is why bitcoin will never be a widely used payment method.
I agree.
Hi guys. Update.
It’s still in my account! Hm
🤑💰💵
Hi Op.
I am the Nigerian Prince that deposited this money in your account, I did so because we have civil unrest and I need you to send this money back to my new bank Details which are in Canada. Once you do, I will thank you and send you my entourage of slaves to thank you personally.
I didnt wake up to an extra $80mil in my bank account today
Could wake up with an extra 100m though!
I'll let you know Friday morning
Don't get too excited, maybe some relative sent you some Christmas money or you inherited some money from a deceased far-relative.
I once also thought that I got $1000 one morning for no reason and thought I would just keep it for 1 months and play stupid pretending I have no idea where the money is from if the bank calls and see what happens, but then the next day dad gave me a call and said it was the money he owed me from years ago (I forgotten about it and didn't care to get it back anyway because it was for my father).
Let this student's story be a warning (or inspiration):
https://www.news.com.au/finance/business/banking/malaysian-s…You can try and get away with spending money in your account, in defense that "you assumed this money came from a legit source"… but you, your life, your job and everyone associated with you would be under legal pressure and stress while the courts decide the fraud charges hanging over your head.
the key is
be smart but pretend to be stupid (ignorance).
don't do both
Not entirely a similar situation but still a cool story to tell.
My old man took out a $15k personal loan to buy a 2nd hand car that he'd previously inspected. The day he was buying the car he went into the branch (small rural branch) and the teller handed over the envelope with the cash.
My Dad then went and met with car owner, did a final inspection of the car and decided he would buy it, so he handed over the envelope.
The car owner then opens the envelope and begins counting. Then looks up at Dad with a confused look on his face and asks "Is this some sort of strange joke?"
Dad obviously didn't know what he was talking about. Bit of awkward conversation for the next few minutes, but turns out in the envelope was $50k rather than $15k. Thankfully the guy handed back the additionally $35k and Dad went on his way.
He then contemplated for the next two days what he was going to do with the $35k. (Just to put it in perspective Dad earns around $40k/year)
Thankfully he then made the right decision and went back into the branch and handed it over. Bank Manager was over the moon. I think he mentioned that head office were sending someone up that day to check the cameras or something. Dare say the Bank Manager still got in some strife.
No real relevance but interesting story none the less.
Same thing happened to me, except the amount was $1700
I'd moved the money out of the account for safekeeping and it took approx 3 months for my bank (ANZ) to contact me about the disputed transaction via snail mail.
I ignored the first letter from ANZ - and never heard anything back again.
Just sit on it until you hear something.
The last thing you want is to hand it back to the bank while at the same time they tell the poor other guy to get stuffed and refuse to investigate.
It's only 7k, all on black.
Legally I already know you basically got no real rights to the money and they can make it disappear just like that (it's just some value in some database after all like most "money" these days), but maybe you'll get some luck here with the bank's reputations being hammered by the Royal Commission.
I suppose it depends whether some poor person actually entered in the wrong details, or a bank employee stuffed up.
Off-topic, but what a ride for this guy: https://www.smh.com.au/national/fast-money-20140804-3d2x4.ht…
Could've turned out like this if he had run off:
http://www.nbcnews.com/id/30860773/ns/world_news-weird_news/…In the end got caught 4 years jail but 3.8m never repaid.
cocaine and hooker time
should be an interesting night
Do you have any compensation or restitution owed to you?
I work in the government grants space and the letter and number combination is what our system uses to identify the grant and payment stage, to the correct recipient it will match up with the funding agreement they signed (letters will be OPP and ML).
Sometimes banking errors will occur, especially if there's a language or age barrier, or both. It's surprising how many people don't understand the importance of providing their BSB, or ensuring their handwriting is clearly legible.
wow….you charge $7000 a night??? you are very expensive!!!
My brother was using my account for his pay from a door to door solar sales job. I woke up one morning with $6500 extra in my account. Thoughts of disappearing to a tropical destination flashed in my head. It turned out my brother's work put the weekly wage of all their employees in my account.
It seems you can only sue if the recipient claims to spent the money or if money is overseas.
Malaysian student got away with 4m
https://www.news.com.au/finance/business/banking/malaysian-s…Banks make stupid mistake. Once I got a envelope slightly torn with my new credit card. I immediately went to the bank as my signature is not needed for online purchases. Luckily I went and found out my account is linked with a China person in Melbourne, I am from Perth. At that time I had a substantial amount in my account. Luckily that person did not know.
The bank teller said Asians have the same names, I demanded to know that name and it turned out to be completely different.You keep the money.
If it's bitcoin.
Write to the bank advise them having the money in your account is causing you financial stress so you will be transferring it out to a holding account. Advise there will be a small daily charge and a small transfer fee to return the funds to their desired account.
But seriously, a few days have passed, interested to know what happend?
Don't say anything and pretend you didn't know it was there.
SO when the time comes to take it back, you would say "no thats money!" ?
Hi guys. I appreciate all the replies. I have Transferred the cash into my savings maximiser. I don’t plan on spending it.
I was involved in a car accident a few months ago where my car was written off and I got a lump sum (which I got and it isn’t this amount). I’m thinking this could be an insurance error?
To be safe you could consider notifying the bank before you do this. It's like finding property I reckon sometimes the owner shows up, sometimes they don't but if it's meant to be yours to keep at least you get a clean slate and don't have to worry about it.
It was one thing sitting in the original account but now you have moved it. Was it a new savings account with the same bank? Or just mixed into another bank account with the rest of your savings?
As you've already notified them now, I would never mention it again. If they ask you can give it back. If not, well at some point in time in the future you can make a decision.
weird flex but ok
So what ended up happening, mate? I need closure.
- 1
- 2
Mate you're just straight up wrong. You are not entitled to keep money mistakenly transferred to you. Please stop giving advice.