I had my school refund direct deposited to my sister's account. Her bank placed a hold on the funds pending a verification of the deposit from the school. What do they mean by verification? My school cannot contact them; however, the bank is free to contact the school, which they have refused to do. How should we handle this situation?
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Funds payable to you were sent to an account which you are not an owner. The question is, how will you ever get your money? The bank may or may not know of your relationship with the owner of the account. If your sister has someone else on her account as a co-owner, and that person spends your money, what should happen?
Your funds should have been deposited to your account. Many agreements for a deposit like this that we are familiar with require it. If your sister's bank refuses access, ask that they return the funds to the school and have the school disburse the funds to you, or to an account that you own.
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Funds payable to you were sent to an account which you are not an owner. The question is, how will you ever get your money? The bank may or may not know of your relationship with the owner of the account. If your sister has someone else on her account as a co-owner, and that person spends your money, what should happen? 