If You Were A Dishonest Person .....

Lost_in_the_HTTP

Diamond Member
Nov 17, 2019
7,359
4,128
106
I scheduled an ACH transfer between two of my accounts at different banks for today.


At 1:00 am this morning, I got an acknowledgement from the receiving bank that the funds were there and the available balance show it.

As of just now, the originating bank shows no indication of the transfer and the available balance there still shows the same funds.


If you were a dishonest person, and withdrew from both accounts .....



.... hmmmm...
 

VirtualLarry

No Lifer
Aug 25, 2001
54,079
8,278
126
If you were a stupid person, you mean?

Just because the bank's online banking, which can be notoriously lagged, doesn't show up, doesn't mean that it won't show up eventually as a charge, and then your balance might overdraft, and thus hit your credit score, too.

Yeeah, shure, be like SAltyNuts, try it... (this is not financial advice). Enjoy your jail time.
 

Lost_in_the_HTTP

Diamond Member
Nov 17, 2019
7,359
4,128
106
Hey Venus, are the bank police anything like the telephone police?

WKRP in Cincinnati Season 4 - ShareTV




(When you search for "johnny fever "telephone" police wkrp ", why do you get a bunch of stuff that doesn't have anything to do with Johnny Fever, WKRP or the telephone police?)
 

pmv

Lifer
May 30, 2008
10,934
5,709
136
If you were a stupid person, you mean?

Just because the bank's online banking, which can be notoriously lagged, doesn't show up, doesn't mean that it won't show up eventually as a charge, and then your balance might overdraft, and thus hit your credit score, too.

Yeeah, shure, be like SAltyNuts, try it... (this is not financial advice). Enjoy your jail time.
I doubt there would be jail time. You'd just find yourself being charged a ridiculous sum for going overdrawn, when the adjustment finally came through.
 

Red Squirrel

No Lifer
May 24, 2003
63,543
10,136
126
twitter.com
There would be no way to win against this. In the end you'd owe the bank that money and if they realize it was malicious probably get in legal trouble too.

As a side note when I moved banks there was some interesting transactions on both of my accounts that happened as part of the move. It was interesting seeing 5 figure balance for a short while and those big numbers moving around. Had to do with the mortgage transfer.
 

dank69

Lifer
Oct 6, 2009
32,884
22,785
136
I doubt there would be jail time. You'd just find yourself being charged a ridiculous sum for going overdrawn, when the adjustment finally came through.
If there is reasonable cause to believe someone overdrew on purpose, like say if they found a post on the interweb premeditating it, there would likely be fraud charges and jail time for anyone who isn't an ATOT billionaire.
 

Torn Mind

Diamond Member
Nov 25, 2012
9,420
1,794
126
The system will clamp down on this.

If you were a dishonest person, you'd know that murder and all other damaging activities, legitimate or not, is on table as merely another of many solutions to a problem.
 

pmv

Lifer
May 30, 2008
10,934
5,709
136
If there is reasonable cause to believe someone overdrew on purpose, like say if they found a post on the interweb premeditating it, there would likely be fraud charges and jail time for anyone who isn't an ATOT billionaire.
Maybe, but on the other hand, banks quite like it when you go overdrawn and they can charge you a small fortune for doing so. I can't see them bothering to look into it too closely, if someone made a withdrawal in a situation like this, and then when the transactions all went through they ended up in the red.

I suspect they'd just debit the overdraft charge to the account and expect you to pay it off.

If you then failed to do so, they'd presumably go after you via civil law.

There's no way you'd end up benefiting from the situation in any case. Not unless you not only made the withdrawal but also closed the account and moved address plus fled the country to somewhere out of the reach of the legal system, which would be rather a drastic step for what is presumably a small potential gain.
 

kt

Diamond Member
Apr 1, 2000
5,837
1,045
126
They finally posted the correct amount today for the source account.
You know that tends to happen when you do ACH transfers on a Friday afternoon? Destination account receives the fund almost immediately but the source account doesn't get updated until the next business day which would be the following Monday. Everybody knows this.
 

Lost_in_the_HTTP

Diamond Member
Nov 17, 2019
7,359
4,128
106
^^^ I scheduled it several days before Friday and it posted to the destination account at 1AM Friday morning. Should have posted to the source account Friday night.
 

Captante

Lifer
Oct 20, 2003
26,049
7,370
136
^^^ I scheduled it several days before Friday and it posted to the destination account at 1AM Friday morning. Should have posted to the source account Friday night.

Depends on the time it takes for your bank to clear it and when they post the updated balance plus the source of the transfer.

I've had wire-transfers clear almost instantly and I've seen it take literally weeks to receive full access to the cash. (or to find out it was fraud)
 

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