23 posts in this topic

Posted

FRESNO, CA (KTRK) -- It's safe to say we could all use a little extra cash. But imagine going to your ATM, withdrawing money and getting more than double the amount you asked for.

The ATM at Bank of America in Fresno, California gave away $50 bills instead of $20 bills all day Saturday.

The bank isn't saying how much money was accidentally given away or what went wrong, but it's likely someone put the $50 in the $20 slot. Now the big question, should those customers give the money back?

"It was the machine, it was their bank mistake," said Bank of America customer Daniel Salas. "I don't think they should give the money back."

"I think it's better to do the right thing because eventually karma is going to get back to you," said another customer Martin Arce.

The bank says it has surveillance video and the personal information of all the customers who walked away with extra cash and it plans to get its money back.

source & video

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Posted (edited)

I guess there's some stipulation that if a bank makes an error in your favor you aren't liable to give it back but I guess I would probably give it back though.

If I was there that day though i'd prolly be pulling out hundreds from my account just for the hell of it. LOL.

--------------

OK I lied, it's not the case anymore or maybe never was? I could have sworn there was something about that though somewhere!

Edited by SHoTTa35

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Posted

If it were a smaller bank, I would consider giving the money back, but as for Bank of America I would not.

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Posted

"All of this has happened before and it will all happen again" - J.M. Barrie, Peter Pan

 

The bank updates the withdrawal to account for $50's and debits the account for the correct amount withdrawn. The rules are very clear on this.

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Posted

I got some extra $50s, then ordered on-line from Wal-Mart :p

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Posted

I guess there's some stipulation that if a bank makes an error in your favor you aren't liable to give it back

 

I wish, but no. If you asked to take out $100 and got $250 instead, your withdrawal will be $250.

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Posted

I wish, but no. If you asked to take out $100 and got $250 instead, your withdrawal will be $250.

 

 

No it would not, because you will have a receipt for $100 and anything else is insubstantial.    You are not responsible to correct their mistakes.    IMO.

 

I would like to hear the proper legal opinion on this.

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Posted

No it would not, because you will have a receipt for $100 and anything else is insubstantial.    You are not responsible to correct their mistakes.    IMO.

 

I would like to hear the proper legal opinion on this.

 

 

Legally it falls under the "if you asked for $100" and got $250" then obviously it wasn't working correctly issues and you should have reported it. It's going to be hard to prove 100% that everyone checked their money prior to leaving, kind of like getting change back at the store and you realize when you get home they gave you a $20 instead of a $5.

 

Either way, they received the money, likely Bank of America will debit each account the proper amount and you know by now the people who got extra money have realized it. So it's on them to put the money back in their account and not be thieves, some of them will likely over-draw their account. They will probably just go in the bank and if they haven't spent the money yet, re-deposit it and they will waive the fees. The other's who went on a shopping spree knowing the money wasn't supposed to come out like that, deserve everything they get.

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Posted

in the very small fine print it's stated that BoA is not responsible for errors and reserves the right to correct them when they occur...turns out bank error in your favor only really happens in monopoly

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Posted

turns out bank error in your favor only really happens in monopoly

Yes, but so does going back 3 spaces :p

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Posted

Bank of the America is the McDonalds of banks in the USA, a few thousand dollars isn't going to put them in hock, they might as well just let it slide.

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Posted

I wish, but no. If you asked to take out $100 and got $250 instead, your withdrawal will be $250.

Not if ...someone put the $50 in the $20 slot.

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Posted

Not if ...someone put the $50 in the $20 slot.

 

Irrelevant, you withdrew $250, the bank will debit you $250.

 

If you want to dispute it, then that's fine. The bank will haul you into court, show the dispenser loaded with $50s, show a record of your withdrawal that used that dispenser and a video of you at the ATM with $50 bills. After you lose, then they decide if they want to file criminal charges, in which they'll show the same evidence.

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Posted

No it would not, because you will have a receipt for $100 and anything else is insubstantial.    You are not responsible to correct their mistakes.    IMO.

 

I would like to hear the proper legal opinion on this.

 

ATM receipts are worthless. Seriously, ask your bank, they won't honor their own ATM receipts as a transaction record.

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Posted

Good Guy ATM

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Posted

Irrelevant, you withdrew $250, the bank will debit you $250.

 

If you want to dispute it, then that's fine. The bank will haul you into court, show the dispenser loaded with $50s, show a record of your withdrawal that used that dispenser and a video of you at the ATM with $50 bills. After you lose, then they decide if they want to file criminal charges, in which they'll show the same evidence.

Interesting, because if it were the other way around, let's say the ATM was dispensing $5s instead of $20s, all records would show $20s were dispensed, and how would you prove $5s were dispensed?

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Posted

ATM receipts are worthless. Seriously, ask your bank, they won't honor their own ATM receipts as a transaction record.

They would if it were the other way around. Transaction says we gave you 5 20s. You claim you only received 4 20s. How are you going to argue otherwise?

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Posted

Irrelevant, you withdrew $250, the bank will debit you $250.

 

If you want to dispute it, then that's fine. The bank will haul you into court, show the dispenser loaded with $50s, show a record of your withdrawal that used that dispenser and a video of you at the ATM with $50 bills. After you lose, then they decide if they want to file criminal charges, in which they'll show the same evidence.

 

But you did not withdraw $250.  You withdrew $100.

 

Let me ask you.  If you have $150 in the account and you want to withdraw $100, but receive $250 (BY NO FAULT OF YOUR OWN), what happens?

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Posted

Is there really proof on wich types of bills that were given in the ATM? No, there is not.. only the surveillance of the individualls standing at the ATM and taking out some money! But it depends, if the ATM is equipped with the feature of register precisely wich bills where counted in the machine. The people could just lie about it when the bank asks if they were given the 50 dollar bills instead of 20's. I know I would try lie about that :p, and why would I lie you might ask me? Well because it doesn't matter if the bank gets ROBBED, blown up or given out to high bills by mistake, the banks is capital of the government and are INSURED and they get it ALLL back :).

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Posted

Bank of America is l'ass 'oles, they will want their money back.

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Posted

Do you guys really think the banks didn't think of the consequences of their mistakes? They've commissioned the government make laws to protect them already. Duh.

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Posted

But you did not withdraw $250.  You withdrew $100.

 

Let me ask you.  If you have $150 in the account and you want to withdraw $100, but receive $250 (BY NO FAULT OF YOUR OWN), what happens?

 

I wind up with an overdraft and a nice note from the bank explaining how they're going to waive the fees if I return the money, or go to collections if I don't.

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Posted

Interesting, because if it were the other way around, let's say the ATM was dispensing $5s instead of $20s, all records would show $20s were dispensed, and how would you prove $5s were dispensed?

 

You would complain immediately and the ATM would be shut down and audited.

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