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What happens if you spend money that was put in your account by accident?

Cincinnati, OH |

I recieved a financial aid check and when I went to deposit it into my account the lady at the bank accidentally deposited the check twice. I spent the money and now my acount has a negative balance and has been canceled. What will happen to me?

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Attorney answers 1

Posted

If you spend money which is not actually in your account, you will be liable to the bank for the overdraft. The bank's mistake does not make it OK for you to spend money that isn't really there.

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