Posts by Kenneth Brooks5

Charles Ramos7 said:I honestly don't get that mindset. Nobody has posted anything on the savings thread for 11 days, yet everyone's quick to blame Bank of America and say we need to push back or "hit them where it hurts."😕
Years ago, long before computers were everywhere, a teller made a mistake while transferring funds between my accounts. I caught it immediately and pointed it out. A friend standing next to me whispered that I should've just stayed quiet and kept the money. I told him I could certainly do that, but I didn't feel like making another trip to the branch just because there isn't free cheese waiting for you there.

From a client-bank relationship standpoint, I think sending a notification when these things happen is the right move. At least in my book, it's decent practice. Maybe I'm wrong.

Personally, I believe what goes around comes around—especially the bad stuff—and if I had kept that money, I wouldn't have slept well. That's why I suggested in my first post that they donate it to charity as a "penalty" for messing with my account balance (assuming they weren't allowed to do that in the first place). Then someone jumped in to claim that Bank of America is legally allowed to fix their employees' mistakes (apparently buried in the fine print somewhere).
I had no idea they could just do that without asking for permission or even notifying the account holder—now I know.

Thanks for the input, everyone.

Nicholas Turner said:Look—I’m telling you, there are specific times when they can and aren't allowed to—it's not always a green light! As for what happened in your specific situation, you really ought to check in with Bank of America to get the full story.

I get that now... but the whole point of me starting this thread was to figure out the actual rules—like, when exactly they have the right to do it and when they don't.

Nicholas Turner said:We simply can’t reach a final verdict without addressing the core issue here—it’s all about accountability! While Bank of America certainly has the right to fix a blunder made by one of their own employees, they shouldn't be held responsible for correcting a mistake caused by the sender's own poorly filled-out transfer request.

Until the original poster clarifies exactly whose slip-up this was, none of us can provide a definitive answer.

The damage is already done, so who cares who's at fault?

My main point was whether the bank is even allowed to go in and "edit" my account details without checking with me first.

If they weren't supposed to do that, I was planning on hitting them where it hurts—their wallet—to make sure they don't try it again.

Money is money... it comes and goes.

"What kind of changes? The balance is perfectly fine."

When I talked about "changes," I was referring to the specific debits and credits hitting the account over the last few days.

Walk me through your logic here: the balance is spot on.

I don't get why you're making such a big deal out of 🤷
And honestly, why would they even need to give you a heads-up if the balance is correct in the first place?🤷

Look, I think it’s just common decency to let people know when there are changes hitting their accounts... it's just basic courtesy...

Steven Reed said:It really depends on how a specific bank decides to play it—usually, they won't move a finger without the account holder's explicit consent 🤷
Which bank are we talking about here?

I’d rather not name names just so I don't get screwed over myself.

I called their toll-free line and they told me that, as a rule, they shouldn't be doing anything without my consent, and suggested I talk to the branch manager for the specifics.

I haven't spoken to him yet, so I'm not saying anything else until I hear what the actual bank policy is regarding this—basically, what they're actually going to tell me.

Charles Ramos7 said:It wasn't "taken from your account"—it was just a correction.
Where exactly did you get the idea that this money belongs to you?😂

If it’s sitting in my account, it isn't yours or anyone else's business.

I just want to know if a bank is actually required to notify the account holder when they go in and correct a mistake.

In my opinion, they really should be letting people know.

Think about it—someone could deposit $333333 into my account and then report me for taking a bribe if I were, say, a federal judge...

wearytrucker22 said:Look, they have every right to fix a bookkeeping error without even checking with you first—at the end of the day, it’s their bank, not yours. You’re entitled to file a formal complaint, sure, provided you can produce a deposit slip, a signed contract, or whatever other paperwork proves those funds actually belonged to you. But since they aren't your money, what are you even going to do about it?

So what you're saying is the bank has total control over an account regardless of how much time has passed or when the deposit was made.

I heard about this woman who messed up her own payment and couldn't get her cash back, so I find it pretty sketchy that they just pulled money from my account without even asking.

checking my checking account-standing order

On March 13, 2009, someone accidentally dropped about $0.67 into my account—basically just some random person's paycheck.

Then, on September 19, 2009, the bank went ahead and reversed that whole $0.67
.
The thing is, nobody asked me for permission—not verbally, not in writing—and they didn't even bother to notify me that they were pulling the money back.

Is a bank actually allowed to do that when the cash had been sitting in my account for six days?

If they aren't allowed, can I demand that the money they snatched from my account be put back so I can donate it to charity instead? (They could just deposit it directly to the charity so I don't look like a jerk.)

My take is that once money sits in an account for six days, it belongs to the account holder. It’s straight-up rude that they didn't give me a heads-up.

If anyone knows the actual banking regulations regarding this kind of situation, let me know what you think.

Thanks