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(Fox Business)   Life is not like Monopoly. If a bank, or brokerage, makes a mistake in your favor, you're supposed to give it back. Not transfer it to another account and buy a house   (foxbusiness.com) divider line
    More: Dumbass, Charles R. Schwab, Money, New Orleans, Kelyn Spadoni, Stock broker, former sheriff's dispatcher, United States, bank fraud  
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2329 clicks; posted to Main » on 13 Apr 2021 at 9:50 AM (3 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-04-13 9:41:54 AM  
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2021-04-13 9:46:11 AM  
"If someone accidentally puts an extra zero on a utility payment, they would want that money returned or credited to them. This is no different," Rivarde said.

Yeah, I wonder how loudly she would have complained if she'd accidentally paid $1000.00 instead of $100.00 on some card payment or utility bill through her bank's online bill pay and the company officials just told her, "tough, shiat happens."
 
2021-04-13 9:53:05 AM  
This sounds like a YOU problem, not a ME problem.
 
2021-04-13 9:54:51 AM  
One time my bank accidentally added about ten grand to my checking account. I kept my mouth shut about it but they fixed it inside a week.
 
2021-04-13 9:57:25 AM  
 
2021-04-13 9:57:32 AM  
Poor bank, fu*k them.
 
2021-04-13 9:57:48 AM  
You don't just start spending the money. You transfer it to another account, leave the country, then transfer it to another account in a new country. Then you start spending it.
 
2021-04-13 10:01:14 AM  

Subtonic: One time my bank accidentally added about ten grand to my checking account. I kept my mouth shut about it but they fixed it inside a week.

One time my bank accidentally deducted about ten grand from my checking account. they kept their mouth shut
about it, I haven't heard anything about it since.

Tadaa!!

 
2021-04-13 10:04:50 AM  
Too bad this doesn't work both ways.

Bank gives you extra money and you keep it, you get arrested for theft.
Bank takes extra money from you and won't give it back, suddenly it's a civil matter.
 
2021-04-13 10:06:05 AM  

dothemath: Poor bank, fu*k them.


Try not to sound too poor in the Main tab.  Take it to Business, nobody goes there.
 
2021-04-13 10:06:16 AM  
I don't know why it continues to surprise me that people are this stupid.
 
2021-04-13 10:06:26 AM  
I'm here for the free financial advice from randos on the internet.

/Transfer to a savings account "so you don't accidentally spend it", collect interest, return the money when they come for it because you didn't know who to return it to
 
2021-04-13 10:06:37 AM  

abhorrent1: Too bad this doesn't work both ways.

Bank gives you extra money and you keep it, you get arrested for theft.
Bank takes extra money from you and won't give it back, suddenly it's a civil matter.


Technically, this was a federal civil lawsuit first.
 
2021-04-13 10:07:17 AM  
Transfer it to a high interest account so that they can't claw back the interest too. Pay it back when they notice.
Small profit.
/Good luck finding a high interest account.
 
2021-04-13 10:09:54 AM  

Gift Horses Mouth: I'm here for the free financial advice from randos on the internet.

/Transfer to a savings account "so you don't accidentally spend it", collect interest, return the money when they come for it because you didn't know who to return it to


Unfortunately my savings account gives me all of 0.1% interest now so even $10k for a week is nothing particularly. I doubt this will ever return to the days when I was getting 5%.
 
2021-04-13 10:11:26 AM  

TheSwizz: Take it to Business, nobody goes there.


Your mom does.
 
2021-04-13 10:11:50 AM  

Alwysadydrmr: You don't just start spending the money. You transfer it to another account, leave the country, then transfer it to another account in a new country. Then you start spending it.


This.

1.5 million dollaridoos? Yeah, take the money and move to South America, you absolute fool.
 
2021-04-13 10:14:12 AM  

Pocket Ninja: "If someone accidentally puts an extra zero on a utility payment, they would want that money returned or credited to them. This is no different," Rivarde said.

Yeah, I wonder how loudly she would have complained if she'd accidentally paid $1000.00 instead of $100.00 on some card payment or utility bill through her bank's online bill pay and the company officials just told her, "tough, shiat happens."


From personal experience they just cheerfully tell you that you now have a credit.
 
2021-04-13 10:15:49 AM  
I ordered a Fat Tire once & the bartender gave me a Coors Light by mistake. Said I could keep it.... in fact they didn't want it back
 
2021-04-13 10:16:21 AM  
Use the money to buy bitcoin, use the bitcoin to buy cocaine in dark web, sell cocaine for profit. If the bank notices the error before you've sold the cocaine, stall them. Then do some of the cocaine, so you can stay up to sell cocaine faster. It's gonna eat into your profits but worth it.
 
2021-04-13 10:19:48 AM  
1. Buy $120,000 worth of cocaine, hide the rest.
2. When the cops catch up to you, they'll assume it's worth ten times that amount.
3. When you get out of prison... Profit!
 
2021-04-13 10:22:16 AM  
While Subby is legally correct i really do think banks should have to bear more responsibility when they screw up in this way.  Give them 1 business day to find the error and request the funds be returned.  if they do not get it done before that deadline then the person or persons erroneously given money due to no fault or action of their own get to keep it and they bank has to eat their own mistake.

The person who is given money in error is under no obligation to report it as the bank should have a series of checks in place to catch such mistakes. if they don't a series of hefty losses should change that.

Income taxes of course will still be due if you get to keep the money.

That said as the law currently stands don't spend the money dipshiat.
 
2021-04-13 10:22:21 AM  
If this happened to me I would do the only sensible thing. Transfer the money to Curacao, fake my own death, have extensive plastic surgery, forge a new identity from a dead person like Warren Harding, convert everything into bitcoin, buy a yacht and sail into international waters and declare it an independent nation.

Phew! It was exhausting just typing that. I think I would just do nothing.
 
2021-04-13 10:23:00 AM  

The Irresponsible Captain: Transfer it to a high interest account so that they can't claw back the interest too. Pay it back when they notice.
Small profit.
/Good luck finding a high interest account.


IANAL, but I'm pretty sure moving large sums of money errantly deposited into your account to another one of your accounts is prima facie evidence of intent to defraud.  "I didn't know that wasn't legal" usually won't hold up in court, unless you're the President for whatever reason.
 
2021-04-13 10:23:37 AM  
Unless you're already a billionaire hedge fund, then you get to keep it https://www.bloomberg.com/opinion/art​i​cles/2021-02-17/citi-can-t-have-its-90​0-million-back
 
2021-04-13 10:27:07 AM  

TheSwizz: dothemath: Poor bank, fu*k them.

Try not to sound too poor in the Main tab.  Take it to Business, nobody goes there.


You funny
 
2021-04-13 10:27:17 AM  

grimlock1972: While Subby is legally correct i really do think banks should have to bear more responsibility when they screw up in this way.  Give them 1 business day to find the error and request the funds be returned.  if they do not get it done before that deadline then the person or persons erroneously given money due to no fault or action of their own get to keep it and they bank has to eat their own mistake.

The person who is given money in error is under no obligation to report it as the bank should have a series of checks in place to catch such mistakes. if they don't a series of hefty losses should change that.

Income taxes of course will still be due if you get to keep the money.

That said as the law currently stands don't spend the money dipshiat.


I don't know if one day is enough time, but I'd be willing to go 30 days or so.
 
2021-04-13 10:27:27 AM  

mehhhhhh: This sounds like a YOU problem, not a ME problem.


If I owe you $100, that's my problem. If I owe you $1,000,000, that's your problem.
 
2021-04-13 10:28:43 AM  
They put in in the brokerage account. that's when you yolo it all on some high risk option or something like GME or buy bitcoin. while also making sure your account credentials are leaked all over the internet.
 
2021-04-13 10:29:58 AM  
Subby clearly has an investment banker as a sugar daddy.
 
2021-04-13 10:30:24 AM  

aagrajag: Alwysadydrmr: You don't just start spending the money. You transfer it to another account, leave the country, then transfer it to another account in a new country. Then you start spending it.

This.

1.5 million dollaridoos? Yeah, take the money and move to South America, you absolute fool.


Moldova or Romania.
 
2021-04-13 10:31:30 AM  

limeyfellow: Gift Horses Mouth: I'm here for the free financial advice from randos on the internet.

/Transfer to a savings account "so you don't accidentally spend it", collect interest, return the money when they come for it because you didn't know who to return it to

Unfortunately my savings account gives me all of 0.1% interest now so even $10k for a week is nothing particularly. I doubt this will ever return to the days when I was getting 5%.


My dad was an insurance agent in the 1960's.    His income came from the "float".  He would collect premiums on policies every month, but the insurance company would collect from him every six months.  The interest he earned on the premiums prior sending it to the insurance company was the "float".  I think savings accounts were paying ~8% back then.
 
2021-04-13 10:31:33 AM  
If you're going to go the illegal "keep the money" route you don't half ass it, and you certainly don't buy major assets in the United States.

You take the money and you run.
 
2021-04-13 10:31:59 AM  

daval2: Unless you're already a billionaire hedge fund, then you get to keep it https://www.bloomberg.com/opinion/arti​cles/2021-02-17/citi-can-t-have-its-90​0-million-back


The key difference in that case was the amount paid was exactly the payoff amount on the loan.  IE, the mistake wasn't obvious.
 
2021-04-13 10:33:40 AM  

daval2: Unless you're already a billionaire hedge fund, then you get to keep it https://www.bloomberg.com/opinion/arti​cles/2021-02-17/citi-can-t-have-its-90​0-million-back


Fark user imageView Full Size
 
2021-04-13 10:34:41 AM  
And that is the strange trait I find in people from Louisiana, you get a million dollar windfall and they still don't want to leave the state.
 
2021-04-13 10:36:29 AM  

Subtonic: One time my bank accidentally added about ten grand to my checking account. I kept my mouth shut about it but they fixed it inside a week.


What would you have done if it was still there in a month?  3 months?
 
2021-04-13 10:37:33 AM  

Pocket Ninja: "If someone accidentally puts an extra zero on a utility payment, they would want that money returned or credited to them. This is no different," Rivarde said.

Yeah, I wonder how loudly she would have complained if she'd accidentally paid $1000.00 instead of $100.00 on some card payment or utility bill through her bank's online bill pay and the company officials just told her, "tough, shiat happens."


They credit your account. You end up with a negative balence.

/I've double paid a couple times.
 
2021-04-13 10:39:04 AM  

IamTomJoad: And that is the strange trait I find in people from Louisiana, you get a million dollar windfall and they still don't want to leave the state.


Of course not. You can't get good gumbo anywhere else.
 
2021-04-13 10:40:21 AM  

EdgeRunner: IamTomJoad: And that is the strange trait I find in people from Louisiana, you get a million dollar windfall and they still don't want to leave the state.

Of course not. You can't get good gumbo anywhere else.


If you can't find decent gumbo outside La with a million bucks you don't deserve it anyway
 
2021-04-13 10:40:27 AM  

MythDragon: mehhhhhh: This sounds like a YOU problem, not a ME problem.

If I owe you $100, that's my problem. If I owe you $1,000,000, that's your problem.


If the bank f*cks up and gives you money, it currently is a criminal case.

If the bank f*cks up and steals from you, you are the farked, and it's your fault (somehow).

F*ck them all, disappear the money, and have no idea how it happened. Shift it to foreign account immediately. F*ck the bank. "Steal" from them at leisure. Move it around a little. Keep it. Don't know what happened....

/ Banks  have a racket, built to f*ck those who get incorrect deposits, but to punish those who figure it out.
 
2021-04-13 10:44:04 AM  

limeyfellow: Unfortunately my savings account gives me all of 0.1% interest now so even $10k for a week is nothing particularly. I doubt this will ever return to the days when I was getting 5%.


imagine that. someone going on the internet and telling lies.

don't think I have every had a savings/bank account over 1% my whole life.

Reminds me of my 'farmer' in-law trying to talk me into CD ladders.

He doesn't seem to understand you need excess money to invest for months/years.  Not money you may need next month when you get a flat tire.
//42
 
amb
2021-04-13 10:44:57 AM  
I think the Monopoly card Bank Error in your favor is like when they overcharge your mortgage escrow. Once they get to a certain estimated level, they return the overage.
 
2021-04-13 10:45:14 AM  
Also, for most of us, the only information we have about it IS from Monopoly, since apparently actual info is no longer a mandatory high-school class. Monopoly rules are more fair to  people?
(Hate that game)
 
2021-04-13 10:45:34 AM  

limeyfellow: Gift Horses Mouth: I'm here for the free financial advice from randos on the internet.

/Transfer to a savings account "so you don't accidentally spend it", collect interest, return the money when they come for it because you didn't know who to return it to

Unfortunately my savings account gives me all of 0.1% interest now so even $10k for a week is nothing particularly. I doubt this will ever return to the days when I was getting 5%.


You're lucky the IRS didn't come sniffing around for the "suspicious" transactions.
 
2021-04-13 10:46:03 AM  
Aren't there certain, specific scenarios where you do get to keep it?
 
2021-04-13 10:47:06 AM  

Fireproof: Aren't there certain, specific scenarios where you do get to keep it?


No.
 
2021-04-13 10:47:31 AM  
she does not look to happy now...
live-production.wcms.abc-cdn.net.auView Full Size
 
2021-04-13 10:47:47 AM  

IamTomJoad: And that is the strange trait I find in people from Louisiana, you get a million dollar windfall and they still don't want to leave the state.


It ain't just LA.  Father in-law in GA sold $1million worth of property.  Went thru all types of farming shenanigan's to avoid paying taxes on it.  Avoiding the "death tax".  He now lives in a trailer on the part of the property he kept.

At least he still has his guns (and getting more)

/wife is pissed as that was part of her inheritance too.
 
2021-04-13 10:48:26 AM  

IamTomJoad: EdgeRunner: IamTomJoad: And that is the strange trait I find in people from Louisiana, you get a million dollar windfall and they still don't want to leave the state.

Of course not. You can't get good gumbo anywhere else.

If you can't find decent gumbo outside La with a million bucks you don't deserve it anyway


There's an intrinsic added value to the gumbo being made in Louisiana by Louisiana residents. Take the gumbo or the gumbo maker outside of the state lines and that magic disappears.

Don't bother trying to argue it. It's gumbo science.
 
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