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+--- Thread: Bank deposited $120K into wrong account, couple spent most of it. (/showthread.php?tid=232088)
Re: Bank deposited $120K into wrong account, couple spent most of it. - Acer - 09-09-2019
Lux Interior wrote:
[quote=ArtP]
[quote=NewtonMP2100]
.....once had the bank lose check deposited in ATM.....despite the fact that I had ATM receipt, they 'charged back the deposit'.......the deposit literally 'disappeared' and they said they could do nothing about it [ again, I had ATM receipt ]......
....luckily, it was small amount....from that day on I tried to deposit in person in a bank.....but at some point, you have to make deposits in ATM......
I get a check on occasion from a friend, my bank is pushing Mobile Deposits where u take a pic of the check by smartphone via the App. I guess it is better than your ATM situation but I just can't get with it.
I'll hold the check for a few days to a week until I can PHYSICALLY get into the branch and hand the check to a real person for deposit.
I know everything is electronic now days and the paper check is void once it hits the system but still.
Man, I couldn't WAIT for my bank to adopt this.
My only complaint now is that there is a LIMIT on the amount of the check.
Whoa, Mr Moneybags here! But are you besties with Jay Leno?
Re: Bank deposited $120K into wrong account, couple spent most of it. - mikebw - 09-10-2019
Acer wrote:
[quote=Lux Interior]
[quote=ArtP]
[quote=NewtonMP2100]
.....once had the bank lose check deposited in ATM.....despite the fact that I had ATM receipt, they 'charged back the deposit'.......the deposit literally 'disappeared' and they said they could do nothing about it [ again, I had ATM receipt ]......
....luckily, it was small amount....from that day on I tried to deposit in person in a bank.....but at some point, you have to make deposits in ATM......
I get a check on occasion from a friend, my bank is pushing Mobile Deposits where u take a pic of the check by smartphone via the App. I guess it is better than your ATM situation but I just can't get with it.
I'll hold the check for a few days to a week until I can PHYSICALLY get into the branch and hand the check to a real person for deposit.
I know everything is electronic now days and the paper check is void once it hits the system but still.
Man, I couldn't WAIT for my bank to adopt this.
My only complaint now is that there is a LIMIT on the amount of the check.
Whoa, Mr Moneybags here! But are you besties with Jay Leno?
"Banks and credit unions are required to report a cash deposit of $10,000 or larger." ... to the IRS. So there's that.
Re: Bank deposited $120K into wrong account, couple spent most of it. - RAMd®d - 09-10-2019
I've thought about signing up for deposit by scan, as I think it is/can be done by 'Phone?
But I just don't get checks often enough to get my tail in gear.
It's mainly my IRS/FTB checks and occasionally one from a friend.
Re: Bank deposited $120K into wrong account, couple spent most of it. - space-time - 09-10-2019
graylocks wrote:
[quote=Paul F.]
".but at some point, you have to make deposits in ATM......"
No... you don't.
I have NEVER made a deposit at an ATM.
lucky you. some of us are paid in cash for our services. i suppose if i had time to waste i could stand in line for what feels like a lifetime inside the bank for a teller. yeah. no.
I wish I was paid in cash. Uncle SAM would not know exactly how much cash I got, right?
Re: Bank deposited $120K into wrong account, couple spent most of it. - N-OS X-tasy! - 09-10-2019
RAMd®d wrote:
I've thought about signing up for deposit by scan, as I think it is/can be done by 'Phone?
But I just don't get checks often enough to get my tail in gear.
It's mainly my IRS/FTB checks and occasionally one from a friend.
My credit union’s app offers the ability by default — no service to sign up for.
Re: Bank deposited $120K into wrong account, couple spent most of it. - graylocks - 09-10-2019
space-time wrote:
I wish I was paid in cash. Uncle SAM would not know exactly how much cash I got, right?
true. unless you were raised by nuns who instilled in you a fear of god and getting caught and you made so little money it really wasn't worth it to lie.
Re: Bank deposited $120K into wrong account, couple spent most of it. - graylocks - 09-10-2019
N-OS X-tasy! wrote:
[quote=RAMd®d]
I've thought about signing up for deposit by scan, as I think it is/can be done by 'Phone?
But I just don't get checks often enough to get my tail in gear.
It's mainly my IRS/FTB checks and occasionally one from a friend.
My credit union’s app offers the ability by default — no service to sign up for.
all of the banks i use just have it as an option in their app. check your bank. i bet if they have an app you can deposit by phone.
Re: Bank deposited $120K into wrong account, couple spent most of it. - GGD - 09-10-2019
Thinking about this story, one thing that doesn't make sense is why it took the bank so long to find out about the error.
If you were depositing a large amount like $120,000 into your account, wouldn't you check the balance the next day to make sure that it got there, and notify the bank if it didn't.
Re: Bank deposited $120K into wrong account, couple spent most of it. - Racer X - 09-10-2019
I have been doing mobile check deposits for almost 2 years. The awesome thing is that my credit union gives me immediate access to up to the first thousand immediately, and the rest the next day. My bank (which I hate with a passion, Key Bank) makes me wait 2-3 days before any is available. Key Bank makes their money on fees and that 2 days of float interest. I ran a test. They immediately took the money out of my credit union's account when depositing a check, but the money wasn't available to me in my Key account for 2 days.
Can't dump Key Bank right now as I have a line of credit I am using. My ex-wife worked there long long ago so originally it made sense. My local branch manager remembers my ex, so issues can frequently get resolved quickly. But there shouldn't be issues in the first place.
Re: Bank deposited $120K into wrong account, couple spent most of it. - MrNoBody - 09-10-2019
The happy couple leaving court...
