Mistaken wire transfer/payment error

I was hoping someone might be able to offer some guidance here because I’ve run into a bit of a mess... last week, I accidentally sent a transfer to my JPMorgan Chase account when it was actually intended for my account over at Chase Bank. I had been using the JPMorgan Chase account for a few different transactions lately, and in my rush to get everything finished, I completely neglected to update the routing number...
I reached out to JPMorgan Chase on Thursday, and they assured me the issue would be straightened out within two or three days. However, I followed up with them again today, only to be told that they are still waiting on formal approval from their management to process the refund. I can't help but wonder if there is anything proactive I can actually do at this stage, or if I am simply stuck waiting for them to decide my fate...

I dealt with something similar once. The transfer hit my Chase account just fine, but it took a few days for their guys to sort out the mess after I flagged it. Once they fixed it, the money bounced right back to the original account without any drama.

So, honestly, I think this is just one of those things they can clear up on their end. Just hang tight for a bit and make sure you stay on top of them!

That’s going to be an uphill battle, honestly.

I mean, I learned this lesson the hard way once myself—I accidentally wired money to Chase instead of Bank of America by mistake.

It wasn't even a huge amount, just like $30.

I haven't seen a dime of it, and man, I think it’s been at least two and a half years now.

They kept giving me the runaround, telling me there was no way they could pull funds out of an account without the actual account holder being present.

They basically just bounced me from one customer service rep to another on the phone, sent endless emails into the void, and I never heard a single word back.

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

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?

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.

Kenneth Brooks5 said: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.

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?😂

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...

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?

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.

It’s incredibly important—truly vital—to pinpoint exactly whose blunder we're talking about here.

If a bank employee slips up while processing a transaction—say, they mistype an account number and the funds end up in the wrong hands—then the bank is absolutely entitled to claw that money back to fix their own mistake. That’s standard stuff tucked away in the fine print of most US checking account agreements.

However, if the mishap actually stems from an accountant over at Deloitte who issued a faulty instruction—meaning the payroll went out wrong because someone messed up the entry—but the bank executed that specific order perfectly (since, let's face it, the bank doesn't know the internal payroll details; only the "accountant" knows who actually deserves the check!), then the bank has no right to just snatch it back. In that scenario, they have to politely ask the client to return it.

Bottom line: head straight to the bank to figure out who actually dropped the ball.

Kenneth Brooks5 said: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...

For starters, anyone handing out bribes isn't leaving a paper trail, and there's no way they'd have your account number unless you handed it to them or they swiped it.
It’s pretty obvious that if money hits your account without you sending it or it being intended for you, even from Mars, it's clearly an error.
I don't really get why you're making such a big deal out of it 🤷
And honestly, why would anyone even notify you about it if the balance is actually correct?🤷

Look, typically—regardless of whether they can prove it was just a clerical error (since they’ve got a wire transfer showing a typoed account number rather than yours)—they really ought to have asked for your consent first. It’s common courtesy in these situations, even if it isn't strictly mandated by the bank's official policy 😉. On the flip side, you're fully aware that the money wasn't yours to begin with 🤷—so I honestly don't see why you'd want to kick up a fuss over it?! 🤷

Kenneth Brooks5 said: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

😂 😂

This isn't even funny anymore... it's actually pathetic. 😂

The bank just casually "corrects" their own mistake, and you're sitting there acting all polite because you think that after six days, that cash somehow magically became yours? Give me a break.

Honestly, I don't even think I have the patience to read the rest of this nonsense. 🙄

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...

If you haven't signed up for real-time alerts, don't come crying to me when you're stuck staring at a paper bank statement instead of knowing what's happening right now.

Kimberly Nguyen said:😂 😂

This isn't even funny anymore... it's actually pathetic. 😂

The bank just casually "corrects" their own mistake, and you're sitting there acting all polite because you think that after six days, that cash somehow magically became yours? Give me a break.

Honestly, I don't even think I have the patience to read the rest of this nonsense. 🙄

👍 It's pretty funny seeing what people choose to argue about, but we tried explaining it to him as clearly as possible. 🙂

Kenneth Brooks5 said: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...[/I]

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

Look, I think it’s just common decency to let people know when there are changes hitting their accounts... it's just basic courtesy...
What kind of "changes"? The balance was perfectly correct.

"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.

Kenneth Brooks5 said:"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]

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]

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.
For example, say the balance on March 13, 2009 was $333.
You were accidentally overpaid by $667. Once they caught the mistake, they corrected it by taking back $667.
By March 19, 2009, the balance would be $333.
$333=$333 🙂

I guess he was just sitting there waiting for a call from Bank of America to give him the heads-up, but they never actually picked up the phone.