interestrateripoff Posted October 4, 2013 Share Posted October 4, 2013 http://www.dailymail.co.uk/news/article-2443656/Bank-error-makes-restaurant-manager-worlds-trillionaire-offered-pay-national-debt-glitch-spotted.html Most people on finding out that they've become rich beyond their wildest dreams would immediately splash out on a selfish purchase - a yacht, a mansion, maybe even a private island.But when Reggie Theus discovered he had become a trillionaire thanks to a bank error, he decided to make life easy for his fellow Americans, and offered to pay of the national debt. Sadly for the country, the bank realised its mistake, and soon took away the East Texan's $4,000,000,000,000 - dashing the States' hope of an easy fix for their financial crisis. It would appear fixing the worlds global problems is rather easy. Still it's great to know the banks systems are so secure this type of **** up doesn't happen! Link to comment Share on other sites More sharing options...
Guest eight Posted October 4, 2013 Share Posted October 4, 2013 http://www.dailymail.co.uk/news/article-2443656/Bank-error-makes-restaurant-manager-worlds-trillionaire-offered-pay-national-debt-glitch-spotted.html It would appear fixing the worlds global problems is rather easy. Still it's great to know the banks systems are so secure this type of **** up doesn't happen! It's odd then, that when I use faster payments, my bank's website implores me to check the payees details carefully as there is no means of redress should I make an honest mistake. Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted October 4, 2013 Share Posted October 4, 2013 http://www.dailymail.co.uk/news/article-2443656/Bank-error-makes-restaurant-manager-worlds-trillionaire-offered-pay-national-debt-glitch-spotted.html It would appear fixing the worlds global problems is rather easy. Still it's great to know the banks systems are so secure this type of **** up doesn't happen! He'll need to magic a lot more than $4 trillion to pay off the US debt. Link to comment Share on other sites More sharing options...
pjw Posted October 4, 2013 Share Posted October 4, 2013 It's odd then, that when I use faster payments, my bank's website implores me to check the payees details carefully as there is no means of redress should I make an honest mistake. Heads we win, tails you lose! Link to comment Share on other sites More sharing options...
ChumpusRex Posted October 4, 2013 Share Posted October 4, 2013 It's odd then, that when I use faster payments, my bank's website implores me to check the payees details carefully as there is no means of redress should I make an honest mistake. In this case there is only a single party; this guy was given an incorrect statement of balance, but without any transaction to support that balance. If you make a genuine transfer to another party, but the destination is incorrect, then there are 2 parties to the transaction. A bank transfer is irrevocable, except in bona fide cases of fraud, or where all parties to the transaction mutually agree to reverse it. Take the following scenario. You make a bank transfer to IRRO, but due to your mistake, the payment lands in my account. My bank has no authority to return the money to your bank; indeed, if my bank were to take the money from my account, it would be theft. All they can do is to advise me that they believe a transaction has been made in error, and ask that I check it and get back to them. The only way the money could be returned is if I contacted the bank advising them that the transaction was in error and should be reversed. Of course, if I were to refuse, then you would be free to contact the police and make a complaint of "theft by finding" against me, on the basis that I am refusing to return money that I know not to belong to me. Now, some banks, do have in their small print for their accounts, that by agreeing to use the account, you automatically consent to reversal of any transaction alleged to be in error. If this bothers you, I suggest you check the T&C and change to a bank which doesn't include this term. Link to comment Share on other sites More sharing options...
MrPin Posted October 4, 2013 Share Posted October 4, 2013 You seem to know all about this Chumpy! Would you like to receive some illegal money transfers, for both our mutual benefit, as I usually deal in wads of notes?? Link to comment Share on other sites More sharing options...
Guest eight Posted October 4, 2013 Share Posted October 4, 2013 In this case there is only a single party; this guy was given an incorrect statement of balance, but without any transaction to support that balance. If you make a genuine transfer to another party, but the destination is incorrect, then there are 2 parties to the transaction. A bank transfer is irrevocable, except in bona fide cases of fraud, or where all parties to the transaction mutually agree to reverse it. Take the following scenario. You make a bank transfer to IRRO, but due to your mistake, the payment lands in my account. My bank has no authority to return the money to your bank; indeed, if my bank were to take the money from my account, it would be theft. All they can do is to advise me that they believe a transaction has been made in error, and ask that I check it and get back to them. The only way the money could be returned is if I contacted the bank advising them that the transaction was in error and should be reversed. Of course, if I were to refuse, then you would be free to contact the police and make a complaint of "theft by finding" against me, on the basis that I am refusing to return money that I know not to belong to me. Now, some banks, do have in their small print for their accounts, that by agreeing to use the account, you automatically consent to reversal of any transaction alleged to be in error. If this bothers you, I suggest you check the T&C and change to a bank which doesn't include this term. This is off topic. Lay off the facts, man! Link to comment Share on other sites More sharing options...
erat_forte Posted October 4, 2013 Share Posted October 4, 2013 Why the fekk didn't this gut do an instant bank transfer into a different account as soon as he saw the "improved" balance? Link to comment Share on other sites More sharing options...
happy_renting Posted October 4, 2013 Share Posted October 4, 2013 You seem to know all about this Chumpy! Would you like to receive some illegal money transfers, for both our mutual benefit, as I usually deal in wads of notes?? GREETINGS MR PIN AND GOD BLESS YOU I AM LAWYER ADEBOYEGA ABIGAME FROM LAGOS AND I AM WRITING TO YOU ON A CONFIDENTIAL MATTER. MRS PHILOMENA PIN, A LADY OF EMINENCE, A KEEPER OF BADGERS, DIED IN 2010 IN A TRAGIC BASSOON ACCIDENT LEAVING HER WEALTH OF USD$1 MILLION UNCLAIMED. I PROPOSE THAT YOU POSITION YOURSELF AS HER HEIR AND ARRANGE ME A CIRCUMSTANCE FOR OUR MUTUAL BENEFIT. TO FACILITATE THE TRANSFER OF FUNDS I WILL REQUIRE A TRANSACTION FEE OF USD $1000 TRANSFERABLE TO ME BY WESTERN UNION WIRE TRANSFER IN STRICTEST CONFIDENCES GOD BLESS YOU MR PIN LAWYER ADEBOYEGA ABIGAME, LAGOS Link to comment Share on other sites More sharing options...
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