If you’ve ever had money drop into your account, find out why you shouldn’t spend money that was wrongly deposited into your bank account.
If a deposit is made to your bank account by mistake, you may be wondering if you have the right to keep the money.
And it is that, although it is very tempting to take the money and spend it, unfortunately, you must remember that the money is not yours unless you have made the deposit or if someone else made it on your behalf.
The only time you can keep the money that is deposited is when the deposit was intended to be made to your account. So if the deposit was a mistake, you can’t keep the money. It’s as simple as that.
Discover why you shouldn’t spend money that was wrongly deposited into your bank account
Remember that there are many cases of people who received erroneous deposits and then spent some or all of the money and faced criminal charges for this.
There were people who did all kinds of things with the money received, from transferring it to other accounts to generate interest, to investing it, buying cars, paying bills and donating to charity.
The criminal charges varied depending on the state where the incident occurred, but basically consisted of theft of property lost by mistake and receipt of stolen property, and this applied even in cases where the money was going to worthy causes, such as donations.
In some cases, charges were dropped when people returned the money, and in others the courts were stricter, sentencing offenders to probation and/or jail time. But it all depended on the judge, the lawyers and the circumstances.
However, in any case, you should wait for criminal charges to be filed against you to obtain court orders to return the money and set an example to deter others who find themselves in the same situation.
For all the above, if you ever find yourself in a situation where you notice an unexpected deposit, it is best not to take it out or spend it and notify your bank as soon as possible.
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