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Surprise $1,000,000 in your Bank Account

Topic closed. 30 replies. Last post 9 years ago by sirbrad.

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You've alerted the Bank and they have no idea where it came from - now what?

Quietly move it to offshore Swiss/Cayman accounts [ 6 ]  [7.79%]
Call the Feds and let them know [ 8 ]  [10.39%]
Do nothing .. it must be a set up [ 11 ]  [14.29%]
Spend it IMMEDIATELY! my account, my money! [ 3 ]  [3.90%]
Wait for a month, then use it [ 13 ]  [16.88%]
Never use, ask Bank to remove it [ 20 ]  [25.97%]
I don't know what I would do [ 12 ]  [15.58%]
Other [ 4 ]  [5.19%]
Total Valid Votes [ 77 ]  
Discarded Votes [ 2 ]  
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Kentucky
United States
Member #32652
February 14, 2006
7344 Posts
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Posted: May 31, 2008, 8:03 pm - IP Logged

I'm not exactly sure about that one - maybe they are supposed to but depending the bank - my mother received a nice two digit $K sum and her bank told IRS and everyone else [started receiving credit card invites] my father had same amount in his credit union .. nada .. no IRS no nothing .. so, some of us with credit unions and other foreign accounts, know it won't be touched or much less checked .. the SWIFT system is tricky but with western union, please, i've had money chilling in there without as much of as a call from the bank clerk .. so, it's possible ..

The $1 million would have to be deposited into your account by someone and as Pac said, banks are required by law to report all deposits over $10,000 to the IRS. It's possible someone could make 111 $9000 deposits but that's not your poll.

Neither banks nor credits unions are required to report accumulated amounts even if your dad has $1 million in his account. However if he writes your mom a check for $15,000 and she deposits it into her account, the IRS will be notified. 

    EZMoney's avatar - weedss04lx1

    United States
    Member #415
    June 22, 2002
    418 Posts
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    Posted: May 31, 2008, 10:37 pm - IP Logged

    The $1 million would have to be deposited into your account by someone and as Pac said, banks are required by law to report all deposits over $10,000 to the IRS. It's possible someone could make 111 $9000 deposits but that's not your poll.

    Neither banks nor credits unions are required to report accumulated amounts even if your dad has $1 million in his account. However if he writes your mom a check for $15,000 and she deposits it into her account, the IRS will be notified. 

    No.  Its basically impossible to make 111 $9000 deposits.  Thats called structuring and red flags would pop up everywhere if you did that.  The bank would be questioning you and the IRS would track you down.

      time*treat's avatar - radar

      United States
      Member #13130
      March 30, 2005
      2171 Posts
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      Posted: June 1, 2008, 12:42 pm - IP Logged

      There's nothing you can do to hide it.

      By law, any amount 10,000 or over depositied will automatically be notified to the IRS.

      For cash & "equivalents", the threshold was quietly lowered during the Clinton years, and also includes currency exchanges, car dealerships, and brokerage firms. It has only gotten more "robust" since then. Do a search on "know your customer". Well... you may be happier if you don't.

      Also, it will depend on whether it is an "unusual" transaction for your account.

      In neo-conned Amerika, bank robs you.
      Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

        time*treat's avatar - radar

        United States
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        March 30, 2005
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        Posted: June 1, 2008, 12:46 pm - IP Logged

        No.  Its basically impossible to make 111 $9000 deposits.  Thats called structuring and red flags would pop up everywhere if you did that.  The bank would be questioning you and the IRS would track you down.

        ... Also called "smurfing".

        Just as an excuse to take more of it, this kind of transaction is a "crime" even when all the money is yours and otherwise "legit".

        In neo-conned Amerika, bank robs you.
        Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

          Avatar
          Kentucky
          United States
          Member #32652
          February 14, 2006
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          Posted: June 1, 2008, 3:32 pm - IP Logged

          No.  Its basically impossible to make 111 $9000 deposits.  Thats called structuring and red flags would pop up everywhere if you did that.  The bank would be questioning you and the IRS would track you down.

          It's basically impossible to find a surprise $1 million in you bank account that belongs to you too but apparently some people believe it's possible because they voted. If somebody decided to give them the money by depositing it into their account, it would their money to do what they chose. And if it's bank error, it's not their money so spending it would be a dumb idea.

          Since this is a lottery discussion, I'm assuming the "surprise $1 million" came from lottery winnings because I can't think of a logical reason why someone would poll lottery players on non-lottery winnings.

          It's basically impossible, virtually impossible, and highly unlikely that somebody can pick the 6 winning numbers in PB and MM but it's been done so we know it's possible. I used the word "possible" because I don't know for a fact that it would be impossible to make 111 $9000 deposits.  If you know for a fact it's impossible why did you say "basically impossible"?

          I had to add something related to the lottery because I didn't want my 1000th post on LP to be about something that has absolutely nothing to do with playing the lottery.

            LottoAce's avatar - WWI Flying_Ace.gif
            N.C.
            United States
            Member #56005
            October 28, 2007
            877 Posts
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            Posted: June 1, 2008, 4:15 pm - IP Logged

            It's basically impossible to find a surprise $1 million in you bank account that belongs to you too but apparently some people believe it's possible because they voted. If somebody decided to give them the money by depositing it into their account, it would their money to do what they chose. And if it's bank error, it's not their money so spending it would be a dumb idea.

            Since this is a lottery discussion, I'm assuming the "surprise $1 million" came from lottery winnings because I can't think of a logical reason why someone would poll lottery players on non-lottery winnings.

            It's basically impossible, virtually impossible, and highly unlikely that somebody can pick the 6 winning numbers in PB and MM but it's been done so we know it's possible. I used the word "possible" because I don't know for a fact that it would be impossible to make 111 $9000 deposits.  If you know for a fact it's impossible why did you say "basically impossible"?

            I had to add something related to the lottery because I didn't want my 1000th post on LP to be about something that has absolutely nothing to do with playing the lottery.

            If I discoverd a million dollars in my bank account.

            I would....

            Immediately open up an account in Switzerland. transfer the funds to that account. (there banks don't roll over to US pressure like the bahamas, or the Virgin Islands).

            then before they even knew what hit them, I would fly over to Switz, withdraw the money, move to South America, and find me an extremely young Brazilian handmaid and start a new family!!!

            Whhooo....

            no?

            "know your limitations, but excede your expectations"

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              lima ohio
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              July 7, 2007
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              Posted: June 1, 2008, 4:17 pm - IP Logged

               my friend of the family had this happen leave it at the bank dont spend a  penny of the money,and let it draw interest law will let you keep the interest only.but you must claim it as income.

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                wyoming, michigan
                United States
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                June 22, 2007
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                Posted: June 1, 2008, 8:26 pm - IP Logged

                Wife called me about 2 years ago and asked if i had won alot of money and deposited to our bank account.  I said no why?  She had been to the bank 2 hours before that to make a deposit and the clerk said she really should think about a better interest bearing account.  She said why and the clerk said if i had $78,000 in the bank i would.  She did not make a deposit and just went home and then after about 2 hours she called to ask what i had stated earlier.  I did an accont balance inquiry at the next atm i came to and it was just the normal amount, around $1500, guess they found their mistake and corrected it.  Did really want to see that big amount on a bank slip.  God bless and good luck.

                  Sandra Dee's avatar - dandy
                  Bayonne
                  United States
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                  May 13, 2008
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                  Posted: June 2, 2008, 9:47 am - IP Logged

                  If I discoverd a million dollars in my bank account.

                  I would....

                  Immediately open up an account in Switzerland. transfer the funds to that account. (there banks don't roll over to US pressure like the bahamas, or the Virgin Islands).

                  then before they even knew what hit them, I would fly over to Switz, withdraw the money, move to South America, and find me an extremely young Brazilian handmaid and start a new family!!!

                  Whhooo....

                  no?

                  that part about the "extremely young Brazilian handmaid" <-- yeah, did you know that Brazil and Thailand are tied in the #1 spot for best shemale/tranny surgeries?! I'm just saying -- my brother and his friends always went there for vacation, one year, once friend comes back and doesn't want to talk about the cutie they brought back to the hotel - needless to say, it's been a couple of years since the group went back, guess it scared everyone straight! let's just they are good! [with the surgery, that is]

                  Green laugh

                    psykomo's avatar - animal shark.jpg

                    United States
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                    May 30, 2004
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                    Posted: June 5, 2008, 10:02 pm - IP Logged

                    Geeeeeeeeeeeeeee>>>>>>>Sandra Dee:

                    PSYKO had to vote OTHER on this won <<<<<<<<<<<<<<<<<<<<<<

                    BUT, I did send my MONY to REV RIGHT>>>>>>>>>>>>>>>>>>>>>>

                    (not mutual of Omaha) <<<<<<<<<<<>>>>>>>>>>>><<<<<<<<<?

                    ???????????????????????????????????????????????????????????????

                    Geeeeeeeeeeeeeee>>>>>>>PSYKO does get MIXED-UP  ^^^^^^^^

                    TRANSLATION:

                    I want my "BLE$$ING NOW"!!!!!!

                    I want my "JACKPOT"!!!

                    I want $MONY$ (not change)!

                    PSYKOMO

                    BUTT, please TELL why gull's luv $$

                    IF ALL U gull's wnnt "CHANGE"^^^^PLEASE,PLEASE,PLEASE tell >>>

                    JAME'sssssssssssssssssssssBROWN why U LUV not <<<<<<MEN>>>

                    (PSYKO talked to JAME's several day's ago & can't get no satisfaction)

                    MABY>>>>>>>>>>>>>>>>>O'BAMA is Dee answer??

                    LOL

                    PSYKOMO

                      mylollipop's avatar - Trek STLOGO6.png

                      United States
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                      Posted: June 5, 2008, 10:08 pm - IP Logged

                      My answer:  I would immediately notify the bank, then the Feds.  Even if it's their mistake you can be held liable and go to prison.  In no way should you spend it, as tempting as it might be.  The money came from somewhere and it will be noticed during an audit. Wasn't there a story on the news not long ago about a woman who was getting large direct deposits and spent the money?  Years later she was caught and prosecuted.  Can anyone find this story?

                      I'm not sure if this is a poll about honesty or the right thing to do in a situation.  You can't hide a million dollars that easily.  Yes, you can put it somewhere and try to hide the mistake.  So let's say the question here is "If you found a million dollars, knew it wasn't another person's lifelong savings and just a government screw-up, were guaranteed by an attorney that you could get away with it and never be caught, what would you do?"  In that case, I'd keep it.

                      I would definitely let the Bank and the Feds know.  This kind of mistake is ridiculous!  Now, I agree with JustExploring, here, if I found some money, different story.  Nobody claimed it. unmarked, etc., it is my blessing!

                      I received a Canadian Scam letter and just for the heck of it, took it to the bank it was drawn on.  No way was I about to deposit it in my account!  I knew better.  It was so funny, the teller wanted me to put it in my account, I said no, I never cash checks using my own account, I ALWAYS go to the bank they are drawn on just in case it bounces.  Ha, Ha, they did not cash it.  They said there was a "fraud alert" on the account.  The branch manager said, "You know you did not win a lottery if you got the information in the mail and you would be held liable for the check even though you did not sign it and it was made out to you.  Of course our teller would have been fired and the FBI would have helped us to retrieve our money because you know you did not win it.  Same prinicple here; you KNOW you did not have a source to deposit 1 mil in your account.

                        lottocalgal's avatar - Lottery-043.jpg
                        CA
                        United States
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                        December 23, 2007
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                        Posted: June 5, 2008, 10:19 pm - IP Logged

                        I would insist that they investigate and remove it!  I would keep hounding them until they did.  Why?  Because  this ACTUALLY HAPPEND TO ME( not quite 1mill)  About 15 years ago  BOA was having  issues with their branch operations.  Folks' accounts were always getting screwed up (some of you may remember it from the news) and I received $350 in my account out of the blue.  Anyway, I called, and wrote them  telling them that it was NOT my money.  After 3 weeks nothing happened so one RENO weekend, I decided to withdraw it.  Boy did I have fun  Until  BOA sent me a nasty letter saying  I misused funds that were placed in my account in error.  They didn't charge me a penalty nor did I get into any trouble,  but  I was upset that they had the nerve to contact me over a month later like I was some kind of bank robber.

                          psykomo's avatar - animal shark.jpg

                          United States
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                          Posted: June 5, 2008, 10:28 pm - IP Logged

                          I would definitely let the Bank and the Feds know.  This kind of mistake is ridiculous!  Now, I agree with JustExploring, here, if I found some money, different story.  Nobody claimed it. unmarked, etc., it is my blessing!

                          I received a Canadian Scam letter and just for the heck of it, took it to the bank it was drawn on.  No way was I about to deposit it in my account!  I knew better.  It was so funny, the teller wanted me to put it in my account, I said no, I never cash checks using my own account, I ALWAYS go to the bank they are drawn on just in case it bounces.  Ha, Ha, they did not cash it.  They said there was a "fraud alert" on the account.  The branch manager said, "You know you did not win a lottery if you got the information in the mail and you would be held liable for the check even though you did not sign it and it was made out to you.  Of course our teller would have been fired and the FBI would have helped us to retrieve our money because you know you did not win it.  Same prinicple here; you KNOW you did not have a source to deposit 1 mil in your account.

                          THANK'$$$$$$$$$$ for all of UR EXXXXXPLAIN'nnnnnnnnnnnnnnnnnn:

                          BUT U KNOW that U gull'$$$$$$$$$$$$$ RRRR money movatied $$$$

                          "WHERE IS YOUR LOVE">"SMOKE GET's in YOUR Eyes" "DEAR HEART"

                          "A Man & A WOMAN" "MY  LLOPIPOP">>>>>>>$$$$$$$$$$$$$$$$$

                          THANK's tooooooooooo allllllllllllllllllll U >>>>>>>GULL's (win D jackpot)

                          LOL

                          PSYKOMO

                            Bagent's avatar - avatar 10424.gif
                            Vancouver, WA
                            United States
                            Member #53665
                            July 15, 2007
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                            Posted: June 10, 2008, 3:11 am - IP Logged

                            For me, I would notify the bank of the error and let them deal with it.  Having worked in the banking industry in the Security Dept. I know how hard they look at people when this sort of thing happens and the thought of years in prison do not excite me in the least.

                              psykomo's avatar - animal shark.jpg

                              United States
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                              May 30, 2004
                              5145 Posts
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                              Posted: June 16, 2008, 8:33 pm - IP Logged

                              THANK'$$$$$$$$$$ for all of UR EXXXXXPLAIN'nnnnnnnnnnnnnnnnnn:

                              BUT U KNOW that U gull'$$$$$$$$$$$$$ RRRR money movatied $$$$

                              "WHERE IS YOUR LOVE">"SMOKE GET's in YOUR Eyes" "DEAR HEART"

                              "A Man & A WOMAN" "MY  LLOPIPOP">>>>>>>$$$$$$$$$$$$$$$$$

                              THANK's tooooooooooo allllllllllllllllllll U >>>>>>>GULL's (win D jackpot)

                              LOL

                              PSYKOMO

                              TRUE CONFE$$ION:

                              >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>U>>>>>>>>>"GULL's"

                              HAVE twice as much FAT by BODY weight as us <<<<<<<<<<  "BOUY's"

                              $ECRECT..............I LIKE ALL GULL's >>>>>>>>>>>>>>>>>>>>>>>>>

                              JACKPOT .............TOO....ALL GULL's >>>>>>>>>>>>>>>>>>>>>>>>>

                              LOL        ..............most BOUY's R 2 DUM to $EE what they R MI$$ING!!!!

                              PSYKOMO