My Bank Put Someone Else's Money In My Account

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NateW
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My Bank Put Someone Else's Money In My Account

Post by NateW » Wed Oct 17, 2012 6:16 pm

I noticed a $120.77 deposit in our bank savings account that I believe neither me or my wife made. I first walk into the branch and thell them about it, but ask to see a picture of the item deposited just to make sure. The bank person can not get a copy and then tries to convince me I must have made a mistake and the money is ours.

Not satisified, I make an online inquiry about the deposit, stating I am almost 100% positive the money is not mine or my wife's but I would like to see a picture of the item depositied. Get this, after being honest, I am told I have to pay for it! Here is the response I got:

"RE:Transaction Inquiry Message: Dear Nat, I would be happy to mail a copy of the deposit for $120.77 made on 10/09/2012. There is a fee of $5.00 per deposit and includes a copy of your deposit slip. We can also provide a copy if each item in the deposit at your request. If this fee is acceptable and you would like to proceed, please respond to this message. Please also verify that the address we have on file is current. If we can provide additional assistance, please contact us by using our online secure messaging system and we will be happy to assist you. Thank you for banking online with Capital One Bank."

Unbelieveable! What would you all do? I sure am not going to pay $5, but I am willing to give the money back.

--Nate

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XtremeSki2001
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Re: My Bank Put Someone Else's Money In My Account

Post by XtremeSki2001 » Wed Oct 17, 2012 6:22 pm

When did the deposit take place? Have the deposit posted/cleared to your account?

Having worked in customer service for a large bank in the past, I'd give it some time. Generally errors are fixed when tellers reconcile at the end of the day. The problem is their changes generally post two days later due to banking hours.

Once the deposit posts to your account you should be able to go to a branch and view the deposit. Chances are it will be fixed before it posts. This happens more than you think.
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sport
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Re: My Bank Put Someone Else's Money In My Account

Post by sport » Wed Oct 17, 2012 6:26 pm

If the money really is not yours, the bank will probably figure it out eventually when the rightful owner complains about the missing money. When they figure it out, they will remove it from your account. I had this happen once, years ago. Since you told them about it, I would just do nothing more and wait to see what happens.
Last edited by sport on Sun Jan 29, 2017 2:52 pm, edited 2 times in total.

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Mrs.Feeley
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Re: My Bank Put Someone Else's Money In My Account

Post by Mrs.Feeley » Wed Oct 17, 2012 6:44 pm

This happened to my mom. She opened her statement one month to see $13K deposited in her checking account that she knew nothing about. She went down to the bank. They told her she must have deposited it in the account but had forgotten. She was quite flustered about it, so she went home and called the bank's customer service dept. They once again reassured her that she had just forgotten about the deposit. She visited the bank several more times over the following week. She was quite upset, worrying that she would be arrested for having someone else's money in her account, even though we assured her that would not happen. But each time she visited the bank they told her tut-tut, nothing to worry about, it must have been a deposit she forgot about. Finally about two weeks later she got a call from a bank vice president who was very upset as he informed her they had deposited someone else's money in her account. By this point my mother was extremely overwrought about the whole thing and demanded a finder's fee. He merely chuckled and said it was good to have customers with a sense of humor.

So I would just leave the money in your account and wait for someone to demand the whereabouts of their lost deposit.

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Re: My Bank Put Someone Else's Money In My Account

Post by SteveB3005 » Wed Oct 17, 2012 7:09 pm

You think that takes brass, how about this. I go to use my Wells Fargo Visa and it's declined, I call and they say sorry we were unable to notify you quicker, but "there is a strong possibility your personal info has been compromised and the credit card was closed" and "We're not at liberty to discuss details." The card and my checking were tied together for several transactions a month so I decide I'm just going to close the checking account until everything gets sorted out. It's several thousand bucks and the branch manager asks how I would like the money. I say whatever is easy and she says, " Be right back with that and it will be $5 for the cashiers check." I say, 'Just go ahead and make that cash instead please." That was 3 years ago and the last Wells Fargo transaction I've made.

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Re: My Bank Put Someone Else's Money In My Account

Post by abuss368 » Wed Oct 17, 2012 7:29 pm

Vegas?
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JDCPAEsq
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Re: My Bank Put Someone Else's Money In My Account

Post by JDCPAEsq » Wed Oct 17, 2012 7:36 pm

Are you sure it's not a direct deposit to your account from some source?
John

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TomatoTomahto
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Re: My Bank Put Someone Else's Money In My Account

Post by TomatoTomahto » Wed Oct 17, 2012 7:42 pm

...and it's the obverse of this that makes me download Quicken transactions almost daily.
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Re: My Bank Put Someone Else's Money In My Account

Post by Mudpuppy » Wed Oct 17, 2012 9:56 pm

JDCPAEsq wrote:Are you sure it's not a direct deposit to your account from some source?
A direct deposit should give some indication of the source of the direct deposit on both the online transaction history and the monthly statement. For example, my paycheck is direct deposited and it always has the name of my employer as the description of the transaction. I would assume this is a teller deposit, which is usually just listed as "deposit" or "deposit by check" or some equally nondescript description.

Nate, you should have worded the electronic inquiry separately. You put the idea of a copy of the deposit in their head, which they want to charge you to provide. You should instead try to find out whether this deposit was a check or cash and, if it was a check, who was the payee and/or the payer. They might still try to charge you for this information, but if they respond back that the payee was someone who is not you or your wife, then you know it's a mistake.

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roymeo
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Re: My Bank Put Someone Else's Money In My Account

Post by roymeo » Wed Oct 17, 2012 10:11 pm

I wouldn't have tried to go to my bank or call them, the first thing I'd do is look up the deposited check images when I logged in to my account online.

What century is this?
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rr2
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Re: My Bank Put Someone Else's Money In My Account

Post by rr2 » Wed Oct 17, 2012 10:17 pm

roymeo wrote:I wouldn't have tried to go to my bank or call them, the first thing I'd do is look up the deposited check images when I logged in to my account online.

What century is this?
This is interesting. My credit union does not show me images of checks deposited into my account. I can only see the images of the check payments that I have made. Is it fairly common to have images of deposit items as well?

mickens16
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Re: My Bank Put Someone Else's Money In My Account

Post by mickens16 » Thu Oct 18, 2012 12:57 am

I would switch banks. This is far too much of a hassle when you're trying to do the right thing.

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Re: My Bank Put Someone Else's Money In My Account

Post by interplanetjanet » Thu Oct 18, 2012 1:19 am

rr2 wrote:
roymeo wrote:I wouldn't have tried to go to my bank or call them, the first thing I'd do is look up the deposited check images when I logged in to my account online.

What century is this?
This is interesting. My credit union does not show me images of checks deposited into my account. I can only see the images of the check payments that I have made. Is it fairly common to have images of deposit items as well?
My bank tells me what kind of deposit it is and lets me categorize by that (ACH, check, etc). If I select a check deposit I can see the images of the front and back of a check. I just clicked on one from 2010 and it showed up without a problem. This is with USAA.

scrabbler1
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Re: My Bank Put Someone Else's Money In My Account

Post by scrabbler1 » Thu Oct 18, 2012 8:09 am

My bank posts images of the deposit slip and check(s) in the online banking website. When I made a cash deposit last month, there was an image of some cash deposit slip the teller prepared but was not the same as the actual deposit receipt she gave me although it contained the same general info (i.e. time, date, amount, account #).

sscritic
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Re: My Bank Put Someone Else's Money In My Account

Post by sscritic » Thu Oct 18, 2012 8:17 am

interplanetjanet wrote: My bank tells me what kind of deposit it is and lets me categorize by that (ACH, check, etc). If I select a check deposit I can see the images of the front and back of a check. I just clicked on one from 2010 and it showed up without a problem. This is with USAA.
Thanks for the tip IPJ. I just discovered that even the evil Bank of America shows you the check images, front and back, on line. I rarely deal with checks, so it might make a difference how it was deposited; this was from an ATM deposit. Of course, I had the machine print the receipt with the images so I had them already, but I didn't know they would be online as well.

P.S. Since there is no physical deposit slip, they show the image of an almost blank page with "electronic deposit image" and the amount on it.

NateW
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Re: My Bank Put Someone Else's Money In My Account

Post by NateW » Thu Oct 18, 2012 11:56 am

rr2 wrote:
roymeo wrote:I wouldn't have tried to go to my bank or call them, the first thing I'd do is look up the deposited check images when I logged in to my account online.

What century is this?
This is interesting. My credit union does not show me images of checks deposited into my account. I can only see the images of the check payments that I have made. Is it fairly common to have images of deposit items as well?
There is a link to click on for this savings account deposit and when I do, no image shows and it simply says "customer deposit", so it could be anything. This is why I wanted to see the actual item. For my checking account, cleared checks are shown as an image.

I think I'll just wait about half a year and if the money is still there, inquire again and see if the bank can give me any particulars and if itis still deemed my money, donate it to a charity. That's how sure I am its not mine.

I thought since I was saving the bank a big hassle, they would be more accomodating. I guess not.
'
--Nate

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neurosphere
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Re: My Bank Put Someone Else's Money In My Account

Post by neurosphere » Thu Oct 18, 2012 12:55 pm

I'm curious what the rules are on how long you are allowed to keep this money, and when you are notified, how long you have to give it back?

Here's a situation which is related, which is why I ask. 6 years ago my landlord undercharged me for rent. My rent comes right out of my paycheck, but AFTER other items like tax and 401k. For a few months I had front loaded my 401k contributions, and there was not enough check left over to cover the rent. I received a paycheck of "zero" and my landlord got stiffed on about $800. This went on for about 4 months. I went into the business office to explain the situation. The answer was "we'll reconcile at the end of the year". The end of the year came and went. I called them up and told them "I think I owe you money". "Nope, we are all square."

That was 6 years ago. At the time, I researched the laws on this the best I could. My memory is that they have many years (don't know how many) to collect for "honest" mistakes such as this. But they cannot charge interest or penalties for under-billing, but they are entitled to their money. But I wonder how long I have to carry this $2400 "obligation" on my books. I still live in the same building, but the management company has changed, and I doubt I'll ever have to give that money back.

Likewise, in the case of this accidental deposit into your account, I am curious what your obligations are. Are you legally allowed to close the account? Or can you withdraw the money below the level of the accidental deposit. If the bank DOES one day try to suck that money out and it's not there, will you get hit with fees? If the bank does someday tell you it's not your money, how long do you legally have to give it back? A day, a week, a month? For $120 it may not be such a big deal. But I'm curious what the rules/laws are. But not curious enough to spend 5 minutes with Google about it. :wink:
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roymeo
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Re: My Bank Put Someone Else's Money In My Account

Post by roymeo » Thu Oct 18, 2012 1:32 pm

NateW wrote:
rr2 wrote:
roymeo wrote:I wouldn't have tried to go to my bank or call them, the first thing I'd do is look up the deposited check images when I logged in to my account online.

What century is this?
This is interesting. My credit union does not show me images of checks deposited into my account. I can only see the images of the check payments that I have made. Is it fairly common to have images of deposit items as well?
There is a link to click on for this savings account deposit and when I do, no image shows and it simply says "customer deposit", so it could be anything. This is why I wanted to see the actual item. For my checking account, cleared checks are shown as an image.

I think I'll just wait about half a year and if the money is still there, inquire again and see if the bank can give me any particulars and if itis still deemed my money, donate it to a charity. That's how sure I am its not mine.

I thought since I was saving the bank a big hassle, they would be more accomodating. I guess not.
'
--Nate

Ah, so it was probably someone depositing the money in person.

Several years ago when the Real Estate/Landlord Outsourcing Service company that I pay my rent to sent me a 'Pay or Leave' certified letter, it was quickly cleared up when I called their office the next day and I told them that since the check had cleared, the must have had it. While on the phone with the office, I pulled up my bank account and read the info that their office workers wrote on the check when they deposited it into the wrong account. My bank has the same for deposits, since almost all checks are turned to images these days rather than the paper itself making the journey through the system. Though I doubt I'd have an image if I'm taking in rolls of change, etc.
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jlj
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Re: My Bank Put Someone Else's Money In My Account

Post by jlj » Thu Oct 18, 2012 10:29 pm

Nate, sorry for your frustrating experience. I think the money is mine. Before your close your account with this bank, just send me a check.

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Re: My Bank Put Someone Else's Money In My Account

Post by indexfundfan » Fri Oct 19, 2012 2:42 pm

Several years back, I discovered two micro ACH deposits made into my checking account. I was worried that it could be some scammers trying to ACH link to my account. I called up the bank and they removed the deposits the next day.
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Re: My Bank Put Someone Else's Money In My Account

Post by 29palms » Sat Oct 20, 2012 7:51 am

Cashshshshshsheeeeng. Take the money, take out the old lady, PROBLEM SOLVED!

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Re: My Bank Put Someone Else's Money In My Account

Post by linuxuser » Sat Oct 20, 2012 8:29 am

indexfundfan wrote:Several years back, I discovered two micro ACH deposits made into my checking account. I was worried that it could be some scammers trying to ACH link to my account. I called up the bank and they removed the deposits the next day.
If you set up a service to have your bank linked to Vanguard, or whatever, Vanguard will make two very small ACH deposits (amounts less than $1) to verify. They will make you tell them how much the deposits were. Once you verify, then the accounts are linked.

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Re: My Bank Put Someone Else's Money In My Account

Post by kf0218 » Sun Jan 29, 2017 2:17 pm

Hi.
I am in a similar situation at the moment except i believe I am the person who's money was deposited into someone else's account. Can i ask was the issue ever resolved. Did the initial person get their money back? And roughly how long did the process take?

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Re: My Bank Put Someone Else's Money In My Account

Post by sport » Sun Jan 29, 2017 2:56 pm

kf0218 wrote:Hi.
I am in a similar situation at the moment except i believe I am the person who's money was deposited into someone else's account. Can i ask was the issue ever resolved. Did the initial person get their money back? And roughly how long did the process take?
I had money deposited in my account recently that was someone else's deposit. I made it easy on the bank. One phone call to the branch manager and he fixed it within a day or two. The teller had keyed the account number incorrectly.

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Re: My Bank Put Someone Else's Money In My Account

Post by mptfan » Sun Jan 29, 2017 3:00 pm

sport wrote:Since you told them about it, I would just do nothing more and wait to see what happens.
Exactly.

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Re: My Bank Put Someone Else's Money In My Account

Post by Mudpuppy » Sun Jan 29, 2017 5:38 pm

kf0218 wrote:Hi.
I am in a similar situation at the moment except i believe I am the person who's money was deposited into someone else's account. Can i ask was the issue ever resolved. Did the initial person get their money back? And roughly how long did the process take?
Have you contacted your bank and told them the deposit is missing? That's the first step. The timeline from there can depend upon the specific bank(s) involved.

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Re: My Bank Put Someone Else's Money In My Account

Post by tetractys » Sun Jan 29, 2017 5:51 pm

Once in I think 1982, $500 landed in my bank account from an unknown source. The bank didn't seem able to determine where it came from. That was that. -- Tet

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Re: My Bank Put Someone Else's Money In My Account

Post by likegarden » Sun Jan 29, 2017 6:32 pm

I had that $500 happen to me too. 40 years ago I wanted to take out $500 at a bank to buy a new stereo. During my time at the bank counter power went out, but I got the $500. Later I discovered that they never had the $500 deducted from my account, and I went back to the bank twice explaining that, also talking to the manager, but they said everything was OK, so I enjoyed the new free stereo.

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Re: My Bank Put Someone Else's Money In My Account

Post by scrabbler1 » Fri Feb 03, 2017 3:24 pm

Back in the mid-1980s, I once had my bank credit a single $100 cash deposit to my account twice. The ribbon on the machine the teller puts my deposit slip in had malfunctioned, so he stamped my deposit slip with "deposit subject to collection, unless cash" stamp. I noticed he stamped all the copied of the slip besides the one he handed back to me. When my next bank statement came out, it showed the $100 deposit twice. The bank never reclaimed it.

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