Current Events > Uh wtf? Someone wired $48k to my account.

(+) Yeah! (+)

https://gamefaqs.gamespot.com/a/user_image/0/8/0/AAdbDbAAEopo.jpg

This has to be a scam or a mistake.

You better report that to the bank, not an amount to mess around with

If it turns out you won a contest or something then good for you

If they quickly ask for it back it could be a scam, yeah.

Don't spend it. You'll likely be contacted asking for permission to have it returned.

But seriously don't spend it, they will have recourse against you.

wire it to me, i'll make sure it gets back to the original owner safely

You're welcome

Shishiwakamaru posted...

You better report that to the bank, not an amount to mess around with

If it turns out you won a contest or something then good for you

Yup, I plan on visiting the branch tomorrow morning to figure out wtf is going on.

Must've been Prince Hakeem's accountant fucking up the routing numbers again.

Don't send it back if someone is asking for it. Inform the bank and let them deal with it.

Very high likelihood that it's a scam. Like others are saying, do not under any circumstances wire any money back yourself. Tell your bank about the situation immediately, and for the love of God do not give into temptation and try to spend it.

Most likely that money does not exist.

Think of all the fun you could have spending it

You got a lot of money even without the 48k

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Youre confusing cash with wire. If you wire any amount, it doesnt need to be reported, because the money is already clean and in the banking system. If you do any physical cash transactions with $10k or more, that gets reported, because that money may not have been subject to tax yet.

That's your money now

Any deposit more than 10K is reported to IRS. So you should call the bank and tell them it isn't yours.

Dang and we only got $500 here in New Mexico!

Okay so, AU law and US law is pretty closely aligned -- sequester it away where you can't easily access it (i.e., a savings account that you have to wait 24+ hours for the transfer to go through) because if you spend it, you're civilly liable to pay it back.

IdiotMachine posted...

do they technically have the right to reverse it?

Probably, but also maybe not: here, the recipient has to agree to send it back and if not, it becomes a civil matter.

Long lost uncle's inheritance?

Accidental transfers happen more often than people realize. Surely a mistake on the banks end if not a scam.

Yeah just don't spend it or send it back yourself. Contact your bank and have them take care of it.

That would be really nice right about now.

So I was wrong with wire transfers with checks and ACH transfers or whatnot, $10k limit doesnt exist; only when you use pure cash to do transactions (like a money order or cashiers check), do you fill out forms:
https://www.irs.gov/newsroom/understand-how-to-report-large-cash-transactions

Wire transfers over $10k are still reported to the IRS, but not for tax purposes but rather for money laundering issues:
https://www.irs.gov/businesses/small-businesses-self-employed/bank-secrecy-act

Regardless, I will definitely talk to the bank tomorrow in person at a branch about it. I have no desire to spend it, as I know bank errors are never in your favor.

You're welcome TC. Don't forget the favor you owe now

its mine, give it back.

tag for curiosity at what the bank says.

TC is sneak bragging about normally having $50,000 in his bank account.

EmilyTheCEman posted...

TC is sneak bragging about normally having $50,000 in his bank account.

Lol, that'd be kind of a silly thing to brag about. That's not even very much.

The Nigerian Prince finally came through.

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41k? The fuck?

is that counting 401ks and shit like that?

my wife and I have like $9k cash in the bank and I thought that we were doing pretty good lol

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Wait really?

I thought I was bad with money. >_>

Wonder what the stats are here in the UK

Does this have anything to do with the account someone else opened with your SSN?

Last time I received random money it was from the IRS, and they then not only demanded it back, but interest on it as well like some weird-ass shady loan sharks. Hope your experience is better than mine.

Anony1125 posted...

Last time I received random money it was from the IRS, and they then not only demanded it back, but interest on it

damn IRS took money.

The sending bank cant do shit but the receiver (your bank) can get a request from them to return the money. By all accounts it was a mistake and probably with the account number I wouldnt expect the beneficiary name of the wire to match yours. Nor for any of the memo data to pertain to you. So the request to return it will be honored and sent back. Im sure the sender will soon come to figure this out and ask to have it researched, but couldnt hurt to give your bank a heads up.

Do not spend it most banks when you sign up and get a account with them has In writing if money is wired to your account by mistake you are not allowed to spend it and must notify them immediately.

Cover your ass with your bank, and don't touch one penny of that money.

Do you have Zelle? Did you get a notification to your phone number?

Send it to me and I'll report it for you.

Thats an advance fee scam.The money shows up in your account before if actually clears. Then when you send the money back, the initial transfer bounces and what you send back is deducted from your account.

pnut027 posted...

Thats an advanced fee scam.The money shows up in your account before if actually clears. Then when you send the money back, the initial transfer bounces and what you send back is deducted from your account.

interesting...

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I'm poor

xGhostchantx posted...

Okay so, AU law and US law is pretty closely aligned -- sequester it away where you can't easily access it (i.e., a savings account that you have to wait 24+ hours for the transfer to go through) because if you spend it, you're civilly liable to pay it back.

Probably, but also maybe not: here, the recipient has to agree to send it back and if not, it becomes a civil matter.

I work for a bank in Australia and it can go down a few ways.

If we receive a claim as a Mistaken Internet Payment (which is supposed to be for cases like a typo for example) we can place a hold on the funds (if they're still in the account) and make the customer provide evidence that it was intended for them. If they don't reply we are able to return the funds. Depending on how quick we receive the MIP there are different timeframes for responses and the like.

However! If the customer has completely withdrawn the funds it's too bad. We just send a letter asking for them to pay it back. There's no real legal recourse we can take and there's nothing we can really do.

Alternatively we can receive a recall request. This is basically just a request from another bank asking for a return of funds. This relies solely on the beneficiary approving it. They are in no obligation to accept or provide evidence for anything.

In both scenarios we aren't able to give the person who sent the money any information about the account they sent it to due to privacy laws.

Obviously scam cases have different actions that can be taken like completely freezing the account. I'm referring to actual mistaken payments.

Overall most of this stuff goes by the honor system. At the end of the day it's the responsibility of the person who sent the funds to ensure the details they have entered are valid. We can try our best to fix it but there's not as much authority as most people probably expect. The letters give the impression of authority but it doesn't really exist.

I'm sure there are some differences in the US but it's probably pretty similar.

Bandit_Keith posted...

Does this have anything to do with the account someone else opened with your SSN?

Good point. I didnt make that connection at all. Vanguard reached out to me today and told me they got the other fraudulent account cancelled after they received my IRS form W9 this past Monday, and we set up an account over the phone and I linked my bank to it.

I wonder if this is from Vanguard and from the guy who stole my SSN

Nice, I had to close.my credit card today after someone bought 34 bucks of grubhub