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Bank Error Laws


I was charged mysterious "$50" fees a few times. Atleast get free checking out of the deal! Don't touch the money itself. Wait, he did already transfer the $700 to your checking account? Check This Out

You know the money isn't yours so why not just take it back? only for about 3 hours tho - it was rectified by day end. You know it's not yours, because you know when something is a gift because the person tells/indicates this in some obvious way. The bank can move it out when they get their shit together, and if he doesn't have it, that will be a legal problem.

Bank Error Laws My Favor

Bieber Scott J. Discussion on update posts may take place in our sister subs, /r/legaladviceofftopic or /r/bestoflegaladvice. Davids 15 minute argument with AMEX is just one example. Question Details: This occurred in 02/08.

It's already someone else's problem, and there's nothing a check allows them to do that they wouldn't otherwise be able to do. Banks usually wouldn't even know there's an error like this unless the person who's missing the money tells them.* It's a little hard to describe if you don't have any experience quaters Senior Member - 1K posted: Nov. 15, 2007 @ 10:02p Why did you close the account? If A Bank Makes An Error In Your Favor It's not even accumulating interest, it is just sitting there in the checking account.

Support Our customer experience team is here around the clock - real people ready to assist. See a local attorney for the best answer to your questions. File a Complaint Consumer News Additional Information Customer Assistance Group Phone: (800) 613-6743 TDD Number: (713) 658-0340 TTY: (800) 877-8339 (via a relay service) Accessibility|Web Privacy Policy|Web Site Policies|Contact Us|Office I went to a credit union where I have long had a savings account and withdrew money to cover the damage to my checking account.

Sometimes they make mistakes. Bank Error In My Favor They take the time to investigate, but in the meantime they just completely freeze the account while they audit their records. How long can the bank take to correct an electronic funds transfer (EFT) error and credit the checking account? You are concerned about the legal implications of transferring it to your savings account or a separate high interest account until the matter gets sorted out, but at the same time

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  4. permalinkembedsavegive gold[–]elvendude 3 points4 points5 points 1 year ago(0 children)Interesting.
  5. This should go without saying, but if a bank error is in your favor, you don't get to keep the money and could be prosecuted for doing so.
  6. How long is too long?
  7. Can the bank freeze the account?

Reporting Bank Errors

After some period of time (ask the bank or an attorney who feels like looking it up), I think you will then have rights to it. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? Bank Error Laws My Favor I called that bank and told them as I wanted it our of the account. Bank Statement Errors The spam filter occasionally eats good posts.

A consumer rights lawyer can help with a banking or billing dispute that goes beyond the simple formalities outlined above. his comment is here RETIREAT52 New Member posted: Nov. 15, 2007 @ 10:02p What's the legal time limit they have to find and correct an error like that? And if you try to do so, you might wind up getting yourself arrested. Since I have a receipt, doesn't the bank have to credit my account? Bank Error In Your Favor

And reviewing the bank statement that came today, it seems that the bank entered a deposit, and a debit instead of just a debit on a check I wrote last month. List of guidelines for /r/legaladvice Basic guidelines: Please only use responses as guidelines to better prepare yourself for when you meet with a lawyer. permalinkembedsaveparentgive gold[–]halfascoolashansolo 1 point2 points3 points 1 year ago(0 children)Yes, but the new account should become the everyday account that you use for your own money. http://waspsoft.com/bank-error/bank-error-laws-canada.html buy a house or 10 cars permalinkembedsave[+][deleted] 1 year ago(1 child)[deleted] [–]onionmancer 6 points7 points8 points 1 year ago(0 children)In what country do you live where there are no limiting statutes on tort and

Davids 15 minute argument with AMEX is just one example. Bank Made An Error In My Favor permalinkembedsaveparentgive gold[–]ChiliFlake 0 points1 point2 points 1 year ago(0 children)I see a quarter millions dollars of someone else's money in my account as my problem - What if the IRS wants to know Top Ranking Attorneys Last 30 days All Time Gregory Abbott 77 Answers|Points 800 Silver Contributor Anne Brady 940 Answers|Points 500 Platinum Contributor Joanna Mitchell 11 Answers|Points 350 Bronze Contributor Terence Fenelon

It varies by state, but is measured in years, not days and they have the threat of jail to back up their actions."The EFTA is a very weak law, and a

Laws change dramatically as you cross borders. I imagine this constitutes concealment if I don't keep going to the bank to notify them again. Quite amazing. How Long Does A Bank Have To Correct An Error They didn't even give him a lollipop for his call.

He's on Twitter! Does the bank have to get my permission before removing the funds? What interest charges are there on a bank account? $800 credit card? navigate here permalinkembedsavegive gold[–]BezierPatch -1 points0 points1 point 1 year ago(0 children)Because the law doesn't have to specifically define the line, it's usually obvious from context.

I have no insurance. permalinkembedsaveparentgive gold[–]Wanderlust917 5 points6 points7 points 1 year ago(0 children)At my old banking job, my net account turnover at the end of the day could easily climb into the billions. leonardo1 Senior Member posted: Nov. 16, 2007 @ 11:19a Poolrad said: What happened to morals? Amazingly, nobody has contacted you about it in these five months.

This happened in California. In other news, commercial aircraft are really, really expensive. Limitations!? permalinkembedsaveparentgive gold[–]MacWac 2 points3 points4 points 1 year ago(0 children)They told me the location and it was a branch almost a days drive from where I live.

Navigation Menu Home Protection Credit Freeze | Best Protection Fraud Alert | Learn How Avoid Fraud and Scams Stop Junk Mail and Telemarketing Learn What to Shred Other Prevention Tips Detection RedCelicaGT 1/2 + 1/4 + 1/8 + 1/16 + 1/32 + 1/64 posted: Nov. 16, 2007 @ 11:03a From bankrate.comStatute of limitations for errorsWhen the bank happens to take $120 out But it would have an air of Lou-Pai-esque tightness to it, and the name of the company is 'mysterious' after all. That way you don't have to worry about the LLC actually receiving the check and relying on someone taking action to deposit it.

If he changes the account type but leaves it in place, there is no risk. She called the bank immediately. No biggie, I just paid them back.No need to tell them either, there's nothing wrong about collecting free interest on that $2500 until they get it back and they won't ask permalinkembedsaveparentgive gold[–]Amarkov 0 points1 point2 points 1 year ago(0 children)It's beyond the realm of reasonable possibility, yes.

would it not be wise to keep in a savings account to accrue a little interest while still be available to return it if necessary? I'll return the money if they contact me, but otherwise, I'm not going to worry about it. The funny thing is, unless you buy/invest specifically with that very money, over time it just disappears! Seems the error the scammer made was actually sending something with a routing and account number, rather than just a mock-up check.

Could the court force him to distribute those assets as though they were his on the assumption that he was lying? All information is made available on an "as is" basis.