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I finally got around to balancing the checkbooks today. I've got one account set up for a rental property, so the transactions for it are always the same every month - deposit rent, pay mortgage, pay HOA, and pretty much nothing else.
The statement from two months ago (ok, I'm a bit behind in my paperwork), though, shows a check deposit of $736 and a cash withdrawal of $58 (both on the same date - probably done in person).
So, here's my dilemma - I have no memory of doing this, and no receipt from the bank for doing this. For all of the other transactions I did in person, I have receipts for.
I find it hard to believe that I received a $736 dollar check and can't remember it. I also would never have withdrawn cash from that account - I use it strictly for the rental property, and not for my "personal" expenses.
So - what should I do? Ask the bank about the magic money that showed up in my account? Ignore it and pretend it's not there? Quickly close all of my accounts and move my money elsewhere?
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Ignore it BUT don't spend it. The bank will probably figure out the error if there is one and immediately withdraw the $, even if that means it overdrafts you. Guess who pays the fee for that. If they don't catch it within a year it's probably save to assume it's free money or you are absent minded. (Joking). Don't close your acct. If there is an error and can't get their $ back they'll ding your credit record.
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probably a mistake from the bank; if it were the other way around (deposit of $58 and withdrawal of $736) what would you do? There is your answer (go to the bank and straighten things out, even if you "lose" money. it is not your money. bad karma if you don't)
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In the UK if you knowingly keep money that has been mistakenly credited to your account it is counted as theft. You could claim that you never check your statements and be allowed to be let off (you would still have to repay) however you have openly broadcast it to a public forum and probably (a guess) spoken to others about it. If you claim innocence and then it is shown later that you lied you would be in deep doodoo.
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The penguin is right...I'm pretty sure that the law is similarly applied in the US because that is certainly the way that it is applied here in Canada. The money isn't "found" money...the bank will eventually track it down. If you're really that bothered about it, then, give them a call.
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[quote space-time]probably a mistake from the bank; if it were the other way around (deposit of $58 and withdrawal of $736) what would you do? There is your answer (go to the bank and straighten things out, even if you "lose" money. it is not your money. bad karma if you don't)
[quote IronMac]If you're really that bothered about it, then, give them a call.
Actually, that's what I was planning to do. I can just imagine that there's someone else out there arguing with the bank about their missing $736...
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Request a copy of the deposit transaction from the bank, and they usually include a front/back copy of the check as well as the deposit slip you would have filled out. That will give you your answer.
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Blurb is on the right track. I had to do this with a donation check, because the agency never sent me a confirmation of them receiving the check. And the IRS needs a confirmation or a copy of the check.
I logged into my bank account and was able to go back almost a year to find and print out the documents free of charge. Had a tough time going through the various menu items to figure out how to locate that particular check. YMMV
LyleH
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[quote LyleH]Blurb is on the right track. I had to do this with a donation check, because the agency never sent me a confirmation of them receiving the check. And the IRS needs a confirmation or a copy of the check.
I logged into my bank account and was able to go back almost a year to find and print out the documents free of charge. Had a tough time going through the various menu items to figure out how to locate that particular check. YMMV
LyleH
yeah, for check that you *write* to other people or organizations, it is easy to get an image of that check. No big deal. But for checks from other people that you *deposit* into your account, I don't think you can get an image, at least not at any of the three big banks I deal with. YMMV, of course
EDIT: even though I did not use a spell checker, it seems I got lucky this time. Phew, I got tired of the spelling police patrolling these forums
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[quote SDGuy][quote space-time]probably a mistake from the bank; if it were the other way around (deposit of $58 and withdrawal of $736) what would you do? There is your answer (go to the bank and straighten things out, even if you "lose" money. it is not your money. bad karma if you don't)
[quote IronMac]If you're really that bothered about it, then, give them a call.
Actually, that's what I was planning to do. I can just imagine that there's someone else out there arguing with the bank about their missing $736...
There's not necessarily someone out $736.
