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Home >> Accounts >> Checking Accounts
Bank Error Puts $20,000 in My Account
I was looking over my account online about a month ago. The bank had overdrafted it by $18,230.00. I had $1,800.00 in my account. I called them to find out what the problem was. Someone had made a counter withdrawal for $20,000.00 and in error, my account was overdrafted. The bank said it would be fixed Monday. It was Saturday when I spoke with them. They called Monday and said everything was straightened out, and to wait a couple of hours before using the account. I checked my account, and they deposited $20,000.00 into it. I thought this was another mistake that they would fix it by the end of the day.
The next day I received a letter explaining that they reversed a withdrawal that was posted to my account in error. I also received a receipt for $20,000.00. The receipt had my name, address and account number on it. I went to the bank to find out why mistakes were still being made. I told them I did not have this kind of money, but they assured me it was straightened out. How do I resolve this problem? I have no intentions of touching the money, I just want answers.
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 Write to the president of the bank and explain that they are out of balance somewhere and that the funds are in your account waiting for them to make a deduction. You might also indicate that someone did this and the bank later refused to acknowledge the error. When they make the deduction, you would appreciate a supervisory review to ensure that they correct the matter, once and for all, the right way, and that you be notified.
You can't touch or use those funds. The bank will eventually take them back.
Published on BankingQuestions.com 2/16/10
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