I Woke up to an Extra $7,000 in My Bank Account

Hey guys, this community has so much knowledge and I thought u could help me out. So I woke up this morning with all this extra cash in my account. The description is vague AF, a few letters and some numbers. I have notified my bank about the transaction. I was wondering if anyone knows what happens if no one claims the money? Thanks y’all.

Comments

  • +22 votes

    what happens if no one claims the money?

    You get to keep it?… It's likely an incorrect bank transfer.

    Also:

    If money is incorrectly transferred into your account, you should notify your bank. Your bank will then try to return the money to the sender. You should not spend or withdraw the money transferred into your account by mistake because it is not legally yours and you have to pay it back.

    https://www.fos.org.au/custom/files/docs/fact-sheet-mistaken...

  • +71 votes

    cash out and put all on black

    • +112 votes

      OP, just in case you take this seriously, I think this would be an immature thing to do and wouldn't help you in the slightest. Putting everything on black could be the difference between having nothing or being $7000 in debt. Which would you prefer?

      So do the right thing and bet it all on red, babyyyyy! Yeeehaaaaa!

      • +22 votes

        Live a little, everything on 0. Wildcard bitches!

      • -5 votes

        Actually from memory, any recovery effort of the money would have thought be under the laws of restitution, and one defence to payment is claiming the money was lost due to being spent on "enhanced living expenses".

        Gambling is included within the definition of "enhanced living expenses".

        That said, if you end up winning, I'm pretty sure the plaintiff would be able to take both the principal amount of cash, the winnings, and any assets (or part thereof) that it is invested in.

      • +1 vote

        Well technically couldn't it be the difference between having an extra $7000 or being $7000 in debt? There is a chance OP could win…

    • +1 vote

      …and if you loose … double down and go again!

  • +78 votes

    Ooops, I think I mistakenly put it there. Thanks for finding it. The description has some letters and numbers, so you know it's mine. Please deposit $5k in my account, you can keep $2k as a finders fee.

    • +14 votes

      That's ridiculous! Don't give it to this man, op!

      The 7k is actually mine. I know because I can tell you that the description consists of a few alphabetic letters and numerical digits. You can deposit $4k into my account and keep the remaining $3k.

      • +8 votes

        Damn… caught out! go you halves?

        @ChillBro is the correct owner. Please deposit $4k in their bank within 7 business days to prevent additional account fees.

        Kind regards,

        rompastompa

        Incorrect Transfer Division
        Australian Banking Company

        • -61 votes

          Both of yous are wrong, if it's truly yours then state those exact letters and numbers on the payee and payers summary description please.

        • +12 votes

          Your all wrong. I'm Prince Adeyemi Malia Kibibi Morowa Njinga from the Benin Republic, next inline for the throne. I am writing to you in my desire to go into a business relationship with you, which will be most beneficial for all parties involved. The first $7000 you have received is the first of many transactions for your services rendered. I would like to wire you a second & third payment of $7000 for your services, but I would require you to wire to me a unlocking fee of $10000 in order for me to complete the transaction. I look forward to your cooperation.

          • +4 votes

            @darkage: 8/10, all in all a good effort.
            Moving forward, please remember to include a couple of spelling mistakes and at least one reference to God.

            • +6 votes

              @Mintynovember: I see you are a man of the most integritys. I would like you very much to join in on this initaitives. For you dear sir, as god as witness please wire a senoir partnership fee of $6500. We shall all be rewarded with bountiful redwards once all unlocking and senoir partnership fee's have been sent. I shall pray for our business endeaviours to be very much fruitful.

              • +1 vote

                @darkage: 10/10 Perfect!
                You are now past ready to shares your wonderful financial initiatives with potential investorees and make the world a happier and glorious place.
                For your laminated Cerfication from the MintyNovember institute of Fiscal Servitude. Please forward me the initial sum of just $1,433
                God be with you and may he forever guard your beautiful soul.

          • +1 vote

            @darkage: What suburb of Melbourne is that?

      • +3 votes

        I'm from the Australian Tax Office and you haven't paid tax on all of your earnings. Our records indicate you were paid $7,000 by your employer for underpaying you, but they failed to pay the ATO the PAYE portion. You owe the ATO 30% on that $7,000 which is $2100, however as we have commenced court proceedings against you being the holder of these monies, if you pay a penalty of $2100 in addition to your taxation obligation, we can settle this without you having a criminal record.

  • +4 votes

    It happens. My old man's solicitor (profanity) up bank details, ended up putting $1 million for a property purchase in someone else's account.

  • +23 votes

    You must've got the bank error chance card. Lucky you.

  • +9 votes

    As you notified the bank, it won't end up yours even if not claimed. If I received an amount, I would not tell the bank nor spend it. If they ask you do have to cover it.

  • +10 votes

    I would immediately move it to a 'high' interest account with a different bank.
    If you need to repay it, its still available, but the bank can't just take it. In the meantime you can get some benefit.

  • +18 votes

    this community has so much knowledge

    I see that the money and your post were misplaced.

    •  

      Nah, please see my other thread where my fellow ozbargainers cracked a mystery! Amazing!

  • -3 votes

    IAMNAL, however there are penalties associated with spending money that has been incorrectly funded to your bank account, although I am uncertain if any penalties apply to not declaring it or moving it to another account (so perhaps tread cautiously with some of the other suggestions in this thread.

    A missing $7000 won't go unnoticed, so best to report it to your bank at the next opportunity.

  • +2 votes

    Don't spend it.

  • +1 vote

    You may have to pay it back if you spend it. If you don't have money then the bank may work out a payment plan like $50 or $100 per month.

  • +3 votes

    Is it exactly $7,000? Did you buy a property recently and it might be your FHOG being paid or reimbursed to you?

  • +7 votes

    Happened to someone I know, but MUCH larger amount. It will just disappear without you doing anything, probably soon.

    • +1 vote

      Yep I remember waking up one morning with an extra $2000 in my bank.. Didn't touch it incase something happened. Next day the money disappeared lol.

  • +27 votes

    I had this happen about 10 years ago. When I contacted the bank they said it was up to the payer to follow up and they could not provide any further information to me (for privacy reasons).

    Never heard anything more about it.

    After 7 months the money was still there, so I spent it. Happy $10k bonus for me.

    • +6 votes

      Omg I hope this happens to me! Yeyyyy

    • +1 vote

      Wow, crazy!

    • +1 vote

      Had a friend have this happen recently with a much larger sum, I.e. 10s of thousands. They caught up with it eventually and got the money back.

      Think there's some limit on how long they have to recover it, so just sit and pray! Once you've notified your bank that's all you're expected to do.

  • +1 vote

    bankwest by any chance? i had a similar thing with one of their higher interest rate accounts, with a condition that you could only put in $500 a month so i set it to auto deposit and forgot about it.

    another condition i wasnt aware of was that they would empty it after a year, and it suddenly appeared in one of my other accounts without any clear description where it came from

  • +6 votes

    Take it all out redeposit in your home loan… And when asked to pay it back take it back out and give it back… But in the meantime save on some interest on your loan

    Not saying to keep it just give it back if and when they ask.

  • +10 votes

    Bank Error in Your Favour, Collect $200 :)

    • +2 votes

      Bank Error in Your Favour, Collect $200 $7,000 AUD :)

      Gotta account for inflation, plus the falling value of the Aussie dollar atm.

  • +4 votes

    Sorry. My bad. Let me provide you with my Nigerian bank account details so you can return the money to me ;)

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