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Am I legally required to pay bank back money that was deposited into our account via bank error

Asked about 3 years ago - Emeryville, CA

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Recently Wells Fargo Bank deposited $4600.00 into our bank. My girl friend and I were behind on the payments. So we spent $3,200.00 on catching up the payments. Two weeks later they want the money back. They want to close out my account if I dont give it back right away. What are my options? I feel very blessed that we could catch up on the past payments.

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Attorney answers (2)

Margery Ellen Golant

Reputation Level 18

Answered about 3 years ago. Foreclosure Attorney in Boca Raton, FL.

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If it was not your money, you had no right to keep it or to spend it. If you do not return it, the bank normally has the right t take legal actin against you, and may even have the right to contact the police. In many states, keeping and using funds you knew were not yours is a crime.

You can try to see if they will work with you to give you time to pay it all back, however, one way or another, the bank should be able to force the issue.

Please note that I do not practice in your state and that the above is not intended as legal advice.

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Sondra Ellyn Bennaeim

Reputation Level 12

Answered about 3 years ago. Mediation Attorney in Santa Ana, CA.

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You admit that the money was not yours. You were aware that the monies were deposited to your account in error. You spent money that did not belong to you in the first place and are going to be required to pay it back.

www.so-cal-attorney.com

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