Bank error in my favor!

[20_MuleTeam_Borax]

I think I remember seeing this discussed on ATOT before, but a cursory search returned no results. . .

I had a student credit card through Capital One with my father as a co-signer. I just turned 18, so we terminated my old account, and I got a new one. I accidently sent a $500 payment to the old account. I realized my error and called to have it straightened out. Their rep said it was no problem, and he'd just debit the old account and credit my new account. He did that, but he also sent me a $500 reimbursment check. To review, they applied my payment to my account and sent me a check.

I assume they will eventually catch their error, but who knows? Should I cash the check, or call up and question why they are sending me free money?

 

[Evadman]

<< I assume they will eventually catch their error, but who knows? Should I cash the check, or call up and question why they are sending me free money? >>


if (more likely when) they catch it, you would be liable for the $500 you spent + interest. I am recomending you not do it.

That being said, I would take it and run straight to the computer store

<--- had a $50 bank error that has not been caught yet, and that was on a closed account that has been closed over 2 years. I think I got away with it *knocks on wooden head*

 

[PCHO]

Good job Uncle Pennybags!

Now go spend it so you can win an all expense paid trip to a federal "pound me in the a$$" prison

 

[TheOmegaCode]

I know when I signed up for DSL there was like $200 of crap I had to pay them. I was never charged... I got my DSL modem, micro-filters, a nic, and two months of DSL for free...

 

[GrumpyMan]

If the bank made an error and deducted $500.00 by accident on your account, you would demand and want your money back wouldn't you? The bank probably feels the same way. But do as you wish.

 

[20_MuleTeam_Borax]

<< If the bank made an error and deducted $500.00 by accident on your account, you would demand and want your money back wouldn't you? The bank probably feels the same way. But do as you wish. >>


Right, but do you think they'd give me my money back if i didnt demand?

 

[Evadman]

<< Right, but do you think they'd give me my money back if i didnt demand? >>


that bank that "gave' me $50 deserved it. I withdrew money from it, and they gave me too much. I asked for a bunch of 10's and I got a bunch of 10's and one 20. I returned it when I discovered it, and i did not even get a "thank you". That pissed me off. So when that bank screwed up again, it was mine.

 

[RossMAN]

<<

<< If the bank made an error and deducted $500.00 by accident on your account, you would demand and want your money back wouldn't you? The bank probably feels the same way. But do as you wish. >>


Right, but do you think they'd give me my money back if i didnt demand? >>



If they caught the error and knew the funds belonged to you then yes they would recredit your account without first contacting you.

You do realize that banks are federally regulated and have code of ethics and all sorts of bullsh!t training, right?

 

[Evadman]

Hey RossMAN, does that apply to Paypal?

 

[GrumpyMan]

<<

<< If the bank made an error and deducted $500.00 by accident on your account, you would demand and want your money back wouldn't you? The bank probably feels the same way. But do as you wish. >>

Right, but do you think they'd give me my money back if i didnt demand? >>



If they find that it's their error, yes they would unless you bank at Mafia Savings and Loan.

 

[RossMAN]

<< Hey RossMAN, does that apply to Paypal? >>



Good question

 

[BuckleDownBen]

When I was at Cal in the early 90's, the University sent me 5 or 6 checks for about 400 bucks each. I have no idea what they were for, but that didn't stop me from cashing them. I think their computer system was messed up.