Two years ago, when I closed an IRA, the bank issued my check for $5000. too much. So far this error has not been caught. Will it ever be safe to use this money, just wondering how do banks audit transaction s?
Mon Jan 30, 2017 3:14 am
oldguy Senior Member
Cash: $ 732.65
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Joined: 21 May 2006
Location: arizona
quote: safe to use this money
No, you can't use it, it is not yours!! You are supposed to return it, banks can make mistakes, that doesn't mean that you have no responsibility.
Mon Jan 30, 2017 1:35 pm
Chavak Member
Cash: $ 3.30
Posts: 16
Joined: 28 Dec 2015
Location: Oregon
quote:Originally posted by oldguy
quote: safe to use this money
No, you can't use it, it is not yours!! You are supposed to return it, banks can make mistakes, that doesn't mean that you have no responsibility.
I agree, the money is not yours and you need to return it. If the bank made a $5000 error to your detriment, you would be demanding that they fix the problem and give you your $5000. It works both ways.
