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Old Yesterday, 07:08 PM
 
3,802 posts, read 3,553,829 times
Reputation: 9067

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The law in all 50 states is that money in a bank account is only yours if you deposited it, or if it was deposited on your behalf.

If you keep money that was mistakenly deposited, it is considered theft of property lost by mistake and receiving stolen property. They will know that you stole it, and you will definitely be prosecuted unless you pay it right back.

It's a shame that people have so little understanding of the law, let alone moral behavior, that they would end up in prison for something like this.

And as for the man who answered the phone at their house and claimed he was the father and knew nothing about it... fat chance that he knew nothing about it!
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Old Yesterday, 07:17 PM
 
Location: Knoxville, TN
1,616 posts, read 678,291 times
Reputation: 2105
Quote:
Originally Posted by shadowne View Post
Who is jealous of stupidity? Repaying the money as well the fees they racked up will likely take this couple decades.
If it's ever paid off at all....

10:1 odds they go to prison.
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Old Yesterday, 07:24 PM
 
18,844 posts, read 20,809,442 times
Reputation: 27801
Quote:
Originally Posted by Retroit View Post
I thought all banks had a lottery.
Yeah but you need a mask a gun and a note to win it.
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Old Yesterday, 07:24 PM
 
21,500 posts, read 17,065,776 times
Reputation: 40076
Quote:
Originally Posted by Mister 7 View Post
If it's ever paid off at all....

10:1 odds they go to prison.
With the guys already extensive record, Iím sure he will,but probably her too. I donít know if she has a record too. Whose name was the account in, was it joint?
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Old Yesterday, 07:26 PM
 
3,256 posts, read 2,306,686 times
Reputation: 3639
If the bank debits money from your account by mistake won't give it back it's a civil matter you have to file a lawsuit to get it back. If you use their money which was given to you by mistake it's a criminal charge because banks have special laws in place.
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Old Yesterday, 07:27 PM
 
Location: Knoxville, TN
1,616 posts, read 678,291 times
Reputation: 2105
And....you really don't want to F--- with a bank. Just in general.
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Old Yesterday, 08:01 PM
 
4,190 posts, read 7,909,052 times
Reputation: 5861
Quote:
Originally Posted by kell490 View Post
If the bank debits money from your account by mistake won't give it back it's a civil matter you have to file a lawsuit to get it back. If you use their money which was given to you by mistake it's a criminal charge because banks have special laws in place.
Good point. Banks make money hand over fist. They give their customers 1% interest rate on CD and charge 10% - 25% on credit cards and loans. It's amazing that some people cry for them.
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Old Yesterday, 08:30 PM
 
12,045 posts, read 20,603,354 times
Reputation: 19638
Quote:
Originally Posted by Labonte18 View Post
That's a huge difference. Bonding insurance would be something like what a travel agent might carry.. Say you're a travel agent and you book someone Round Trip flights and hotel, nonrefundable, to Las Vegas.


Problem is.. They wanted to go to Las Vegas, NM, not Las Vegas, NV.


Bonding insurance would cover the travel agent.

But, i'm fairly certain that because the money can be recovered.. After all, it's just 'digital money' at that point.. Insurance wouldn't kick in.

However.. Say a teller gave out 5 $100 bills instead of 5 $20's.. Perhaps at that point, because the money would, in general, be non-recoverable, the insurance might kick in?



I'm not knowledgeable enough in banking to know how that works.. But I know for certain what DEPOSIT INSURANCE is, and that is totally irrelevant to this conversation.. Unless the bank made a big enough screw up to go under.
The amount you referenced is way too small. The deductible when my example happened in 1995 was 25,000. Iíd bet itís higher now.

There is a simple write off amount allowed. I send birthday checks to nieces and nephew for them and the grandies. Two of those checks have been received, deposited and never cleared my account. As checks process, they get run through machines at a very great speed and sorted. Sometimes what happens is the check flies out of the machine and goes behind it. Itís impossible to find, and the large bank deposit is then out of balance. If itís a small amount they just write it off because itís not worth looking for.
__________________
Solly says ó Be nice!
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Old Yesterday, 08:52 PM
 
3,256 posts, read 2,306,686 times
Reputation: 3639
Quote:
Originally Posted by davidt1 View Post
Good point. Banks make money hand over fist. They give their customers 1% interest rate on CD and charge 10% - 25% on credit cards and loans. It's amazing that some people cry for them.
Also most people don't know banks invest 98% of customers money if they lose it's FDIC insurance (Tax Payer). After the 2008 financial crises congress passed Dodd frank bill which included the Volcker rule was put in place which forced banks to invest more of their own money not just 2%. Later it was watered down by lobbyist and banks were allowed to get exemption.

Most people are too lazy to read about the 2008 banking crises it was shocking how these investment banks operated Wall Street is legal crooks live off working class people.
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Old Yesterday, 09:53 PM
 
11,321 posts, read 2,963,292 times
Reputation: 7617
Quote:
Originally Posted by kell490 View Post
If the bank debits money from your account by mistake won't give it back it's a civil matter you have to file a lawsuit to get it back. If you use their money which was given to you by mistake it's a criminal charge because banks have special laws in place.
Yes, when the tables are turned, the banks are immune from criminal charges! I guess corruption pays better than regular crime.
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