On April 2 a mobile deposit was made to my club's checking account by someone not in our club. We've obtained a name from the credit union but they say that's as much as they can do.
What do we do with this $25 deposit?
Bob Mann
Lunch Money Investment Club
Mark Eckman on
Ask your financial institution to return the money to the credit union where it came from. If they know who it is, they can get it back to them.
On April 2 a mobile deposit was made to my club's checking account by someone not in our club. We've obtained a name from the credit union but they say that's as much as they can do.
What do we do with this $25 deposit?
Bob Mann
Lunch Money Investment Club
Bob Mann on
It was a check deposited via phone. Sprint was mentioned; I'm presuming it was a check from Sprint to unknown person that they deposited somehow into our account.
On May 17, 2018 at 9:00 AM "Mark Eckman via bivio.com" <user*24054700001@bivio.com> wrote:
Ask your financial institution to return the money to the credit union where it came from. If they know who it is, they can get it back to them.
On April 2 a mobile deposit was made to my club's checking account by someone not in our club. We've obtained a name from the credit union but they say that's as much as they can do.
What do we do with this $25 deposit?
Bob Mann
Lunch Money Investment Club
Mark Eckman on
The whole issue needs to be reversed and the process to do that is thru either your bank or broker that received the funds into your account. There are processes for correcting these sorts of errors and they need to be followed to reverse the entire transaction. Since this is very unusual, you probably will need to contact someone beyond the customer service rep that answers. Back "in the day" this would be the bank's collection desk, but that is probably lost in the digital world.
You will probably be frustrated on this process as it is not easy to get people to accept an error occurred in the digital world, but it is probably an error made by the person that sent this and very out of the ordinary.
It was a check deposited via phone. Sprint was mentioned; I'm presuming it was a check from Sprint to unknown person that they deposited somehow into our account.
On May 17, 2018 at 9:00 AM "Mark Eckman via bivio.com" <user*24054700001@bivio.com> wrote:
Ask your financial institution to return the money to the credit union where it came from. If they know who it is, they can get it back to them.
On April 2 a mobile deposit was made to my club's checking account by someone not in our club. We've obtained a name from the credit union but they say that's as much as they can do.
What do we do with this $25 deposit?
Bob Mann
Lunch Money Investment Club
Mary Anne W. Gardner on
This has happened with our club twice in the last 2 years - once when we erroneously received a deposit, and just last month when one of the checks I sent was deposited to someone else's account. I asked how this could happen and the representative said, "I have no idea - human error?". The first time it took a while to resolve and we got credited for 2 free trades, so go ahead and ask for compensation for your trouble!
The whole issue needs to be reversed and the process to do that is thru either your bank or broker that received the funds into your account. There are processes for correcting these sorts of errors and they need to be followed to reverse the entire transaction. Since this is very unusual, you probably will need to contact someone beyond the customer service rep that answers. Back "in the day" this would be the bank's collection desk, but that is probably lost in the digital world.
You will probably be frustrated on this process as it is not easy to get people to accept an error occurred in the digital world, but it is probably an error made by the person that sent this and very out of the ordinary.
It was a check deposited via phone. Sprint was mentioned; I'm presuming it was a check from Sprint to unknown person that they deposited somehow into our account.
On April 2 a mobile deposit was made to my club's checking account by someone not in our club. We've obtained a name from the credit union but they say that's as much as they can do.
This has happened with our club twice in the last 2 years - once when we erroneously received a deposit, and just last month when one of the checks I sent was deposited to someone else's account. I asked how this could happen and the representative said, "I have no idea - human error?". The first time it took a while to resolve and we got credited for 2 free trades, so go ahead and ask for compensation for your trouble!
The whole issue needs to be reversed and the process to do that is thru either your bank or broker that received the funds into your account. There are processes for correcting these sorts of errors and they need to be followed to reverse the entire transaction. Since this is very unusual, you probably will need to contact someone beyond the customer service rep that answers. Back "in the day" this would be the bank's collection desk, but that is probably lost in the digital world.
You will probably be frustrated on this process as it is not easy to get people to accept an error occurred in the digital world, but it is probably an error made by the person that sent this and very out of the ordinary.
It was a check deposited via phone. Sprint was mentioned; I'm presuming it was a check from Sprint to unknown person that they deposited somehow into our account.
On April 2 a mobile deposit was made to my club's checking account by someone not in our club. We've obtained a name from the credit union but they say that's as much as they can do.