Bank transfer enquiry

[halsey02]

There is no loophole in what halsey said, he is correct. The only way that B will be prosecuted if he took the money transferred into the account would be if he knows that this money is not his or owing to him. i.e. if the bank accidentally deposited this money (and it has happened before where banjs accidentally deposited $millions into some guy's acct). In this case, B has an expectation that the money is his because A owes him money, and A had communicated his intention to pay the money to B. And since there was no banking error on behalf of the bank, this B is under no obligation to return it, and hence there is no loophole. If B woke up one morning and found $5million in his acct that he knew was a mistake on the bank's part, and he took out all the money and spend it. Than he is legally liable to the bank to repay it or face criminal prosecution by simple virtue the money is not his.

If your banker deposit $5m in your account let me know...ha ha ha there is a legal term here that slip my mind on your banker depositing money, which is not yours into your account. The agreement between A & B is a private one, the bank's have no privy of it, the are just acting on instructions from A to pay bank x the banker of B, in which Bank X is just B agent in receiving the fund.

In other words, it is a private affair...

 

[wikiphile]

You sure onot?
Something similar happened to me some years back...... I was expecting some money coming to me from Australia and there was @ Sgd $1K credited into my account..... I assumed this was the refund I was expecting as the shop had sent me an email saying they will deposit the money into my Singapore account.

A couple of days later when I updated my bankbook..... I discovered Sgd $1.1K had been deducted...... when I queried the bank about this matter...... they said the amount was wrongly credited into my account...... so they took back the money and DEDUCTED EXTRA TO PAY FOR THE BANK CHARGES AND EXCHANGE RATE from my account I immediately cancelled all my accounts with this bank.

Local bank or foreign QFB?

 

[Forvendet]

Local bank or foreign QFB?

There's no difference whether local QFB or offshore non-QFB in such cases. If a third party mistakenly deposited a sum into your account, it's yours, up to you to decide. But if it's the bank that mistakenly deposited a sum into your account, they'll debit it back unless you withdraw and close account fast enough. In that case, the bank will pursue the case since they have all your personal particulars. If you don't refund the sum, you'll receive both lawyer letter for recovery and police call-up for criminal misappropriation, to which if you don't respond in time, an arrest warrant will be issued. Then you'll have refund the sum plus costs. You can trust me on that, I worked in a bank and handled such cases before.

 

[Soul_Reaper]

Local bank or foreign QFB?

It was that Dumb Bodoh and Stupid bank that is paying its Ah Neh CEO $8 million.