Who is responsible for a banking mistake?
Posted on November 6th, 2009 by admin
Banking
My wife got a VISA gift card to make a large online purchase. The gift card was supposed to made out for $300 and the bank put $500 on it. The bank called her yesterday and told her that she had to pay the $200 back immediatly or the next time her check was direct deposited, the bank would deduct it. Who is responsible? The bank or my wife?
My wife got a VISA gift card to make a large online purchase. The gift card was supposed to made out for $300 and the bank put $500 on it. The bank called her yesterday and told her that she had to pay the $200 back immediatly or the next time her check was direct deposited, the bank would deduct it. Who is responsible? The bank or my wife?
Filed under: Credit
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that is tough one, i would think they are going to make your wife pay it back
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I would say in this instance the bank is, but they are going to make it seem as if your wife is. You need to make as many phone calls and speak to as many higher ups as possible before your wifes next check goes in….
Good luck
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Well, I think both parties. The bank because they put the wrong amount, and your wife for abusing that mistake.
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Be honest – you both knew that you had gotten too much on the card. You are responsible. If not legally, then morally.
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Unless you have a receipt for the $500.00 then you have to pay.
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This seems like a moral issue to me. If she realized the bank’s mistake right after receiving the card and continued to spend, trying to see how much she could get away with, then it’s only fair to return the extra $200.
Keep in mind that banks’ computers and data are run by human beings, who are prone to errors just like the rest of us.
We should not hold it against the bank for making this error, even though we might want to get back at them for the exorbitant fees they charge us. But in the end, two wrongs don’t make a right.
Good luck.
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The bank is at fault for the error, but if your wife is honorable, knowing the amount was supposed to be $300, would return the $200.
Honesty and honor are hard to find these days.
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Sh*t thats the banks fualt, If I were you id be making phone calls and see what information you can get from the bank and fix the problem call a lawyer and ask for help.
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Both.. but your wife took advantage of their mistake. The way they get away with it is that if you read the terms and agreement they have protected themselves so they can reverse mistakes.
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If it was a Visa Giftcard, they need to correct it with Visa (or whoever controls the giftcard) if the card has already been used, your wife should of figured out how much was on it, and if she overused it, she was using money that wasn’t really hers.
If someone deposits money into your account accidently, doesn’t find it for a week or whatever, and you spend it, if they figure out it was in your account, they withdraw it, it is on you for spending it.
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Well unfortunately I hate to say you guys are going to be responsible but I would go talk to branch manager from where you bought the gift card and talk to them.
Take your reciepts and show them that it wasn’t your mistake even though the gift card is like cash your out of luck there.
Street Fighter: The Later Years
The bank is responsible for the mistake but you are responsible for the return of the overage. Everyone makes mistakes even the banks. You wouldn’t like it if you paid to much on a payment to the bank and they said to bad.
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Your wife. If she had previous knowledge that the card was only worth $300.00, she should have only spent the $300.00. Technically, it could be considered theft if she doesn’t pay it back.
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Who Would be responsible if you deposited 500 and they only applied 300 to you account. Would you want them to pay it back? I think so. If she only needed the 30 then she shouldn’t have used the other two and you can give the card back to the bank with the remaining 200 on it. Or you can use the 200 to buy things you need to replace the 200 that was taken out. Needless to say it was their mistake, but your wife shouldn’t ave spent the money she knew wasn’t hers without atleast waiting until she found out if the error was going to be noticed.
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I think at the end you will probably pay it back one way or another. But one thing you can demand from the bank is an apology for making such a stupid mistake. What would have happened if you gave the card away as, let’s say, a graduation gift to your boss’s son. You can’t go to him and tell him to pay you $200 back. The bank should not assume you have used the money. If I were you, I would give the money back in exchange for a written apology.
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are you going to take advantage of someone error. you may get the person that sold you the card in trouble or is two hundred dollars that important to you that you would take the monet under false pretenses. talk to all the higher ups you want and they will tell you the same thing. you took the money knowing to much was on the card. your good name at a bank will go a lot farther than that two hundred dollars. think about that the next time you apply for a loan or their is an error on your account. if you added you deposit ticket wrong and deposited more than you wrote down is that your fault or the bank’s fault. it will come back to bite you in the ass if you keep the money. if you spent the money and can’t pay it back in one lump sum then i am sure the higher up’s would work something out to where you could pay on installments. an honest mistake is one thing, but knowing is down right theft.
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Probably the bank, but if this is a bank you do a lot of business with it would be best for her to pay it back. Plus, she knew it should only be for $300 so she should do the right thing.
Street Fighter: The Later Years
It does not matter who is responsible for the mistake, you will have to give the bank back there money. This happens all the time and the banks money was spent by your wife.
It may seem unfair to you but it is the banks money in the end.
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If the gift card was for just $100.00 would you ask for the rest of the money?
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Keeping in mind I’m not a lawyer…..
According the the Uniform Commercial Code banking laws, Article 4 states the following:
ยง 4-401. WHEN BANK MAY CHARGE CUSTOMER’S ACCOUNT.
(a) A bank may charge against the account of a customer an item that is properly payable from that account even though the charge creates an overdraft. An item is properly payable if it is authorized by the customer and is in accordance with any agreement between the customer and bank.
(b) A customer is not liable for the amount of an overdraft if the customer neither signed the item nor benefited from the proceeds of the item.
So, as I read this, since your wife did authorized the purchase, and did benefit from it, the will be held liable for the cost.
Yeah, it sucks. But you know bankers.
the bank
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I can assure you that were this done at my bank, you would be paying that money back. Yes there was a clerical error on the part of the bank, but your wife knew how much was supposed to be on that card. She should have taken the card back when she realized there had been an error.
However, they do have reserve loss accounts set aside for just that reason. Some poor teller or CSR got into a lot of trouble for that $200. I would CALMLY talk to the branch manager about this. Maybe they will work with you on it, consider a payment plan.
Good luck. They are both wrong.
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If the bank benefited from a mistake you made, how would you want them to act?
Street Fighter: The Later Years
Your Wife is…there is no use in fighting it…they are in control of the (computer) money and they will deduct it from her account whenever they want and for any reason that makes sense…