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Can you keep money that is accidentally deposited in your account?
Wiki User
∙ 13y ago
If money is put into your account by mistake and you notice this, you should tell the bank. It is not your money and you can not keep it.
However, if you genuinely do not notice and happen to spend some of this money, you could make a case to the bank that you have acted in good faith and that you would suffer hardship in repaying the sum. As it will have been the banks mistake in placing the money in your account they may write off the amount....but this is not certain.
Wiki User
∙ 13y ago
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Is it wrong to keep money that another party deposited into your account but was not for you?
The money will probably be found out and returned to the owner. Yes, it is wrong to keep other peoples hard earned money.
Are you allowed to keep money which your bank has put into your account accidentally?
No. Clerical errors are still errors. To attempt to keep the funds could make you criminally liable. Certainly it will make you civily liable.
Can you deposit gold into your bank account?
No. Only Cash (Money) can be deposited into a bank account. Gold is a valuable metal and there is no way a bank will accept that and deposit it into your account. However, you can always rent out a safety deposit locker with the bank and keep your gold in that for safekeeping.
Can you keep money the bank deposited into your account in error?
No, that should be reported to the bank immediately. The bank will eventually discover the error if the account holder does not and will take whatever steps needed to rectify the problem. An account holder who knowingly uses such funds is guilty of a criminal offense.
When can you close your fathers estate account and keep the money as an heir?
when can you close my fathers estate account and keep the money.
Is it wrong to keep money that another party deposited into your account but was not for you?
The money will probably be found out and returned to the owner. Yes, it is wrong to keep other peoples hard earned money.
If money is deposited into your account in error are you allowed to keep it?
No. You know it is not yours. If you convert it to your own use, you can be prosecuted. C'mon! There ain't no free lunch!
Can you be arrested for money spent that were deposited into your account by mistake?
If you knowingly spend money that was deposited into your account in error (if you KNOW it was not yours but spend it anyway), you are responsible for repayment to the bank. This might also be construed as a crime depending on the laws in your jurisdiction. It is generally both unlawful and immoral to knowingly take something that is not yours.
Can you keep money deposited into your bank account by mistake?
You are responsible for any money that is present in your account. If you feel some transaction (a deposit) has happened in your account which you are not aware of, you must notify the bank of the same. If you happen to hold on to this money and it so happens that this money was being used by terrorists and they put it into your account by mistake, you will also be in trouble. So it is better if you intimate the bank reg. this.
Where does a bank keep money?
Banks keep their money in safe vaults. A portion of their money is deposited with the central bank of the nation too.
Are you allowed to keep money which your bank has put into your account accidentally?
No. Clerical errors are still errors. To attempt to keep the funds could make you criminally liable. Certainly it will make you civily liable.
What is the difference between saving bank account and Current account?
A current account is one in which businesses keep some money and use it for their day to day transactions. The money in this account does not earn any interest and is available for usage to the customer at all times. A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.
Can you deposit gold into your bank account?
No. Only Cash (Money) can be deposited into a bank account. Gold is a valuable metal and there is no way a bank will accept that and deposit it into your account. However, you can always rent out a safety deposit locker with the bank and keep your gold in that for safekeeping.
Can you keep money the bank deposited into your account in error?
No, that should be reported to the bank immediately. The bank will eventually discover the error if the account holder does not and will take whatever steps needed to rectify the problem. An account holder who knowingly uses such funds is guilty of a criminal offense.
When can you close your fathers estate account and keep the money as an heir?
when can you close my fathers estate account and keep the money.
What is the difference between current account and saving bank account?
A current account is one in which businesses keep some money and use it for their day to day transactions. The money in this account does not earn any interest and is available for usage to the customer at all times. A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.
Difference between savings current and fixed deposit account?
A current account is one in which businesses keep some money and use it for their day to day transactions. The money in this account does not earn any interest and is available for usage to the customer at all times. Savings Account: A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account. Fixed Deposit: A FD Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit
