Mysterious Banking Deposit

HejiraNYC · #1 10-20-2009, 07:34 AM

Has this ever happened to you?

I happened to check my banking accounts online this morning (as I do about twice a week), and I noticed a new deposit sitting in my checking account. A pretty big one- over $4000. I have NO IDEA what this is, or where it came from. The source is rather cryptic to me: "(name of my bank) NFSC CPA CREDIT BALANCE PPD ID: #########." I don't think this is coming from my brokerage account (which re-invests any gains/dividends automatically). I am not expecting any tax refunds. It's certainly not from my work. What would you do? Be quiet and leave well enough alone? Alert the bank to a potential mistake, thereby losing this mini-windfall? Any theories on what this could be?

JazmenFlowers · #2 10-20-2009, 08:13 AM

report it. this happened to a friend of mine who didn't report it and ended up having to pay it all back because it was a banking error. I think you'd rather let it go if it doesn't belong to you than have to pay it back after you've spent it and the bank finally traces back the mistake. if it's not yours someone somewhere is panicking and will eventually lead back to your account.

chriskisn · #3 10-20-2009, 08:30 AM

Plus people have been charged with theft before if they spend what isn't theirs...

HejiraNYC · #4 10-20-2009, 08:31 AM

Quote:

Originally Posted by JazmenFlowers

report it. this happened to a friend of mine who didn't report it and ended up having to pay it all back because it was a banking error. I think you'd rather let it go if it doesn't belong to you than have to pay it back after you've spent it and the bank finally traces back the mistake. if it's not yours someone somewhere is panicking and will eventually lead back to your account.

No, I'm not going to Scores and blow it all on lap dances tonight.

The way I figure it, if it's a mistake, they will find it and rectify it. But then again, this isn't the first time this sort of thing has happened to me; I always found out later on from where/why the money was deposited- and it was always legitimately mine. But I must admit this is the largest mystery deposit I've ever seen. Hopefully it isn't a screw up after all!

Dodfather · #5 10-20-2009, 08:36 AM

Quote:

Originally Posted by HejiraNYC

No, I'm not going to Scores and blow it all on lap dances tonight.

The way I figure it, if it's a mistake, they will find it and rectify it. But then again, this isn't the first time this sort of thing has happened to me; I always found out later on from where/why the money was deposited- and it was always legitimately mine. But I must admit this is the largest mystery deposit I've ever seen. Hopefully it isn't a screw up after all!

Things like this never happen to me!

I'd give it q week for the bank to recify any error they may have made and then contact them if the money is still there. If it is and they demand it back then at least you haven;t toughed it. If it turns out that it is yours, then wahey!!

Lee · #6 10-20-2009, 08:57 AM

Quote:

Originally Posted by HejiraNYC

Has this ever happened to you?

I happened to check my banking accounts online this morning (as I do about twice a week), and I noticed a new deposit sitting in my checking account. A pretty big one- over $4000. I have NO IDEA what this is, or where it came from. The source is rather cryptic to me: "(name of my bank) NFSC CPA CREDIT BALANCE PPD ID: #########." I don't think this is coming from my brokerage account (which re-invests any gains/dividends automatically). I am not expecting any tax refunds. It's certainly not from my work. What would you do? Be quiet and leave well enough alone? Alert the bank to a potential mistake, thereby losing this mini-windfall? Any theories on what this could be?

Wow, I wish that would happen to me.

Just kidding, I would definitely report it. If you weren't expecting it, it probably belongs to someone else.

Lee

HejiraNYC · #7 10-20-2009, 09:43 AM

Argh... I'm so stupid. False alarm. It is mine. Long story short, one of my company stocks merged with another company and the stocks converted automatically yesterday on a 1:1 share basis, so these are the net proceeds from that trade. This is silly... they should have just re-invested the net proceeds, but they didn't!

Still... the reps at the bank were dumbfounded and transferred me three times before someone could figure out what happened. Well, I s uppose it's all for the best... this new stock/company is a total dud- they've been in the toilet for over ten years now.

David · #8 10-20-2009, 11:41 AM

Quote:

Originally Posted by HejiraNYC

Argh... I'm so stupid. False alarm. It is mine. Long story short, one of my company stocks merged with another company and the stocks converted automatically yesterday on a 1:1 share basis, so these are the net proceeds from that trade. This is silly... they should have just re-invested the net proceeds, but they didn't!

Still... the reps at the bank were dumbfounded and transferred me three times before someone could figure out what happened. Well, I s uppose it's all for the best... this new stock/company is a total dud- they've been in the toilet for over ten years now.

Be sure to set aside the taxes for it in a 6-month CD.

HejiraNYC · #9 10-20-2009, 04:03 PM

Quote:

Originally Posted by David

Be sure to set aside the taxes for it in a 6-month CD.

You know, I would probably be a rich man if I actually paid attention to stuff like that. The rate of return is probably not that much- maybe 1-2%. But a few bucks here, a few bucks there... it all adds up. But then again, I pay half of my income in taxes anyway, so it just means more for Uncle Sam...

Eh... it's not worth the hassle...