bank overpaid due to their accounting error. do i have to pay the money back?
Question by etheral_o2: bank overpaid due to their accounting error. do i have to pay the money back?
basically i had opened a new checking account elsewhere and had notified the bank that i would be wiring money out of the account. at my new bank they said the wiring into the account would act as a “cash advance” and the money would be instantly available. now the old bank is trying to say my account is $ 3000 overdrawn and they keep calling me. if that is really the case, why should i pay for their accounting mistake? can they make me pay it back i.e. seek legal help?
Best answer:
Answer by airbob61@verizon.net
Yes, the bank in entitled to their money back.
What do you think? Answer below!
Yes, they can and do expect it back. Everyone makes mistakes. You should have known the amount was wrong when the transaction took place and taken care of it then.