$2100 deposit into my account no idea where it came from.

[burnz]

Originally Posted by texrs388

Once your leg is healed i hope a bus hits you and smashes both your legs. If the money aint yours, which it obviously isn't you should notify your bank but you clearly have no morals or ethics so i hope you get farked over you dirtbag.

gee you have a problem?
see the mod's they will sort you out.

[Unco]

Originally Posted by texrs388

Once your leg is healed i hope a bus hits you and smashes both your legs. If the money aint yours, which it obviously isn't you should notify your bank but you clearly have no morals or ethics so i hope you get farked over you dirtbag.

hahah, tell us what you really think mate.

[FRDGAL]

Originally Posted by texrs388

Once your leg is healed i hope a bus hits you and smashes both your legs. If the money aint yours, which it obviously isn't you should notify your bank but you clearly have no morals or ethics so i hope you get farked over you dirtbag.

Take it easy would ya! :

[Falcon Coupe]

Originally Posted by texrs388

Once your leg is healed i hope a bus hits you and smashes both your legs. If the money aint yours, which it obviously isn't you should notify your bank but you clearly have no morals or ethics so i hope you get farked over you dirtbag.

Take a few days to cool off, that was uncalled for.

[robbo_yobbo]

If you checked your wallet one day and had an extra $500 in there that you didnt put there, and you had no idea where it came from, would you keep it and spend it?? I would. and I dont think theres anyone here that would even consider doing something like handing it in to a cop shop as "goods found" for example, or take it into a bank and say that you want the bank to have it because its not yours.
(If that example is too unrealistic for you - exchange wallet for letterbox)

A bank account should be treated like your wallet, its really just a more advanced electronicaly controlled and staffed piece of leather when it comes down to it.

With that in mind, if money was deposited into my account, and nobody was objecting to it being there, I would consider it as mine, and would not feel obliged to track down its origin if I didnt feel so inclined (others may be a little more curious).

If the bank screwed up, they charge fees to cover thier screwups, and if it so happens that you have already withdrawn the money, they might ask you to pay it back, but with a small sum like that, you could argue that you thought it was yours (lets say compensation payout) and ask for additional compensation from the bank on top of it again for the harrasment if they want to keep you as a customer - you'll probably get it too!
If it is a bank error, the bank is obliged to credit the customer that was supposed to get the money - so the real intended recipient wont loose out.

If someone sent money to the wrong account (yours), it realy is thier fault for not being particular - if they werent paying attention, they may aswell have left cash on the street. Now if they notice thier error before you have time to act on your new windfall - then great for them, and no love lost for you. If not, its up to them to appeal to your sence of kindness and the result depends on how giving you feel that day.

If I were you I would at very least withdraw the cash, and if your worried you might have to pay it back, then just hang onto it and dont spend it untill a considerable ammount of time has passed.

If you recieve an item in the post that wasnt meant for you, you need to hang onto it for 3 months, after that, its yours, before that, you need to have it available for collection if someone asks for it back, and if you are put out by them asking for it back, they have to make reasonable attempts to accomodate and compensate you. You are free to use the goods delivered all you like in the meantime, you just cannot dispose of them untill that 3 months is up, or it is you that has to compensate the sender if you cant provide a replacement.

I would guess financial transactions may carry a similar timeframe???

[Ringo]

I read this thread with interest (pun intended)

I worked for a company way back in the very late 90's who set me up with a new superfund with a reputable provider when I started.

I only worked there for a 6 months (didn't work out and I left) but a few months after I left I got a quaterly statement from the superfund to find $22k sitting there...there should have been a few hundred dollars perhaps....

I've been waiting over seven years for them to realise the mistake and ask for it back, thing is that over that seven year it has doubled in value...its now $44k+.....are they ever going to ask for it back? Is there a statute of limitations that after X years its mine?

I actually wonder if the company I was working for stuffed up and gave the wrong instructions to the super provider which is very plausable...no-one knew what they were doing there because no-one had been there longer than 6 months before getting fired or leaving!!

I honestly am waiting for the day I get a letter or phone call or notification but every year it grows (a lot...good super fund!!) and every year I think I am one step closer to getting away with this.

Could the worst job experience I have ever had end up being a couple of hundred dollar wind fall on retirement?...how ironic is that !

I wonder what TEXRS388 would make of me? Should I look out for busses as well? Is TEXRS388 a bus driver??

[jakkes]

HAHAHAHA^^^^^thats a ****ser

[jonk]

Ringo,
Nearly all big banks in Australia would have deleted their transaction records going back seven years, because two banks I was with wouldn't do a search going back five years ago - deleted they said. btw, once you get into your 8th year you can keep it - ATO stipulates 7 years is how long businesses are required to keep records for tax purposes.

Also, it isn't the super fund's job to track/link super data from an employer - it/they totally rely on the employers figures, I know because I've had to keep track of my super over the years. And if the employer doesn't use a good auditing regime, they'll never find it now - considering audits don't usually go past three years trading.

Congrats !

[robbo_yobbo]

statute of limitations is 7yrs on any civil suit, but you may well have already been away with this a long time ago 44k richer.

this 7 year limitation would apply to creditors you borrowed money from and anyone you crashed into for example and owed money to, or stole from etc etc....

for someone giving you money in error, im pretty sure the limitation is much MUCH shorter.

the 7 year thing isnt anything to do with how long you need to keep records for for tax either - thats just coincidence, for tax, you actualy only need records going back 5 years if all returns are correct and lodged on time, its only 7 years if thier not

Looks like its your shout!

[Ringo]

Really ?

So the worst employment experience of my life is going to help pay for my retirement...thats a ****er !

Yep...definatley my shout.....but you have to wait about 28 years until I retire and can get access to it.

What will it be worth then?

[XR8Master]

well if you have 44k now and it grows on an average of say...8% then in 28 years you will have about $379592.68 If it where to grow at an average of 10% it would change the figure to around $634523.72

2% is a lot of difference when your compounding isnt it ?

Though $600k will only buy u a bag of donuts in 28 years time anyway, so Id start buying houses instead of putting money into super personally.

[robbo_yobbo]

Originally Posted by XR8Master

Though $600k will only buy u a bag of donuts in 28 years time anyway, so Id start buying houses instead of putting money into super personally.

Lol, too true, and if your not a donut person, it should get you a 30c cone from maccas. I remember them running the 30c add and then having to pay 50c the same day, if thats the daily rate, then given 28 years...... well, I wonder what it'll be up to then

[TEaaron]

Originally Posted by texrs388

Once your leg is healed i hope a bus hits you and smashes both your legs. If the money aint yours, which it obviously isn't you should notify your bank but you clearly have no morals or ethics so i hope you get farked over you dirtbag.

Maybe i'll be able to steal $4200 if I brake both legs.
Good idea.

[robbo_yobbo]

Originally Posted by TEaaron

Maybe i'll be able to steal $4200 if I brake both legs.
Good idea.

Lol, I recon the ctp insurance would score you alot more then that if a bus hit ya. Id be lookin for closer to 100k!

Probably worthwhile if you were game. LOL

[Ringo]

Originally Posted by XR8Master

well if you have 44k now and it grows on an average of say...8% then in 28 years you will have about $379592.68 If it where to grow at an average of 10% it would change the figure to around $634523.72

2% is a lot of difference when your compounding isnt it ?

Though $600k will only buy u a bag of donuts in 28 years time anyway, so Id start buying houses instead of putting money into super personally.

.......ummmmm wow.....I worked there for just short of 6 painful stressful months. I didn't leave on good terms with them (longish story) and in fact didn't get my holiday pay (I suspect deliberatley) when I left but decided to let a sleeping dog lie....how ironic....no holiday pay but $22k into my super.



So using the same theroy the beers that I am going to shout everyone will set me back about $238,000....meh I could afford it I guess


I bet you having realised what this is worth I will get a letter today from the super fund saying "An error has been detected with you account"....

[gazza750]

its great (not ) to see the amount of dishonesty amongst you people .
if the money isnt legally your you have no right to spend it .contactthe bank and inform them of it .
you spend it illegally you could end up with criminal record and never have a chance of getting any finance through any finance corporation or bank for your entire life so i dont think 2100 bux now is worth screwing up your entire financial future

[Fev]

its the average joes way..
if you find $50 sitting on the ground are you going to walk around and ask people if they lost any money?
if you walked by a poker machine which had 22c on it with no one in site and slapped it and one $40 would you regret it?

stop being such a pussy

[4.9 EF Futura]

Originally Posted by Ringo

I read this thread with interest (pun intended)

I worked for a company way back in the very late 90's who set me up with a new superfund with a reputable provider when I started.

I only worked there for a 6 months (didn't work out and I left) but a few months after I left I got a quaterly statement from the superfund to find $22k sitting there...there should have been a few hundred dollars perhaps....

I've been waiting over seven years for them to realise the mistake and ask for it back, thing is that over that seven year it has doubled in value...its now $44k+.....are they ever going to ask for it back? Is there a statute of limitations that after X years its mine?

I actually wonder if the company I was working for stuffed up and gave the wrong instructions to the super provider which is very plausable...no-one knew what they were doing there because no-one had been there longer than 6 months before getting fired or leaving!!

I honestly am waiting for the day I get a letter or phone call or notification but every year it grows (a lot...good super fund!!) and every year I think I am one step closer to getting away with this.

Could the worst job experience I have ever had end up being a couple of hundred dollar wind fall on retirement?...how ironic is that !

I wonder what TEXRS388 would make of me? Should I look out for busses as well? Is TEXRS388 a bus driver??

The thing about money in the super system is... its difficult to get out once its entered the matrix..

Id be more inclined to bet that it came from the employer. A super administrator would have had to reconcile the accounts (qtly at least) with what came in... this is one of the things they're kinda good at. The reconciliation would have been $22k short if the employer hadnt contributed it

Late 90s so the transaction record would definately exist. I dont see how you could possibly be penalised tho...its the trustees duty to make sure everything is ship shape... and some people never even look at their super statements so you couldnt be expected to know the account in detail.

Heck its not even technically yours until you retire (its in trust)... how can you be hassled about money you dont even own lol.

[topgun]

Originally Posted by TEaaron

Maybe i'll be able to steal $4200 if I brake both legs.
Good idea.

You might be able to buy a dictionary then to learn how to spell . I,d love to stay and chat, but i have to go and fix the BREAKS on my bus as i would hate to run into anything because i couldn't stop it. :

[robbo_yobbo]

Originally Posted by texrs388

You might be able to buy a dictionary then to learn how to spell . I,d love to stay and chat, but i have to go and fix the BREAKS on my bus as i would hate to run into anything because i couldn't stop it. :

man, theres been too many people preaching 'over-goodness' here. Sureley you can realise a difference between stealing money and spending it and getting given money and spending it!!

Its rude to not accept an offer of someone giving you something!!! Get your goody 2 shoes head around that.

Using your line of thinking, I SHOULD hope you dont fix your breaks too well and end up rolling off the side of the cliff.... but I wont think that, coz theres a chance that you might fall on someone stopping to pick up the $20 they found on the side of the road :

All you goody 2 shoes have done something 'questionable' in the past, and theres no point trying to convince anyone your mother thereasa, coz it just makes us all think your an old ugly lady with no personality.

PS - to mark your credit file, you need to have agreed to pay for something, or to re-pay a loan. if youve been given (as opposed to loaned) money and spent it, you have never made an agreement to re-pay, so your credit cant be marked unless a judgement is saught and found against you - which probably wouldnt happen anyway, and even if it did, its not the same as a standard credit breech judgement and financial institutions know the difference

actualy, I found quite a bit of money in my car when I purchased it (you can see it in my avatar) should I go follow up with the cab company who all thier clients were, and ask them if they ever lost money in a cab and if so how much and give it all back?? would you, or would you spend it like I did??

[jonk]

[QUOTE=robbo_yobbo]for tax, you actualy only need records going back 5 years if all returns are correct and lodged on time, its only 7 years if thier not[/QUOTE

Correct but, if you haven't lodged on time then it's automatically seven and also, if you go through bankruptcy proceedings the ATO will request back that far. The ATO changed from 7 to 5 years for personal tax returns in 2001 with the introduction of the 'Simplified Tax System'.

[4.9 EF Futura]

Apologies for the thread mine, but I saw this article in the media summaries at work today and it reminded me of this thread. Somewhat relevant...



http://www.news.com.au/story/0,23599,22277675-2,00.html

ONE of the country's major banks has taken a former customer to court in a dispute over $11 million it says was mistakenly transferred to his account.

Westpac Bank launched the legal action against North Coast real estate agent Victor Ollis who drew cheques but denies any fraud.

He yesterday told the Supreme Court that if Westpac "can't do their job properly ... it's the bank's responsibility".

Mr Ollis had an automatic transfer facility with the bank, which topped up his business account using funds from his personal account.

The transfers should have been stopped after his personal account was overdrawn in February 2004, the court heard yesterday.

But due to an error at Westpac, his account continued to be replenished - only with money "from the bank's own pocket".

Between June and December 2005, Westpac honoured cheques totalling about $11 million written by Mr Ollis.

The bank launched legal action against him after the mistake came to light in January 2006.

Hearing details of the transactions, Justice Clifford Einstein remarked it was a situation that could arguably bring a bank down.

Westpac is also suing Mr Ollis's partner Gail Shields over $4.8 million he transferred to her.

The Kempsey couple, whose assets have been frozen by the NSW Crime Commission, are representing themselves as the bank seeks to recover the money.

Counsel for Westpac, James Stevenson SC, argued that Mr Ollis must have realised the "improbability of there being any innocent explanation" for the continuing bank transfers, especially due to the large amounts of money involved.

But Mr Ollis told the court: "I haven't fraudulently misused the bank in any way."

"I never deviated or varied in any way, shape or form from normal banking policy and everything I did was standard," he said from the bar table.

"If the bank can't look after their money, if the bank can't do their job properly ... it's the bank's responsibility."

Ms Shields is defending the case on the grounds that she believed the money she borrowed from Mr Ollis was legitimately his.

Mr Stevenson said Mr Ollis started out cautiously by writing a cheque for $40,000.

By the end of 2005, he was writing cheques for more than 10 times that amount.

During that period he did not deposit any money into either of his accounts, the court heard.

Mr Stevenson said: "A human error meant the facility "kept working, except it was drawing money from the bank's own pocket."

The case continues.

[dom_105]

It will be a cold day in hell before I feel any sympathy for Westpac.

[EA2BA]

Representing them self, that says it all ,no lawyer wanted to touch the case, I think they are screwed, ignorance is no excuse for breaking the law.

[Sourbastard]

Originally Posted by EA2BA

Representing them self, that says it all ,no lawyer wanted to touch the case, I think they are screwed, ignorance is no excuse for breaking the law.

i think you will find seeing their assets are frozen, they wouldnt have the money to pay a lawyer. And NO lawyer would act against a large corporation without atleast some money up front, as the case can be dragged out extensively by said corporation to try and bleed the defendant dry of funds in an attempt to make the defendant submit. If you defend yourself, it renders this well known tactic inert.

Remember this is a civil case at the moment. Not criminal.

This being said. We all pay fees to institutions like this to "manage" our money. If they cant do it in a safe accountable manner, they shouldnt charge the fees. And human error is no excuse. They are required to have safeguards for transactions and these safeguards are meant to be internally audited. If their safeguards arent working, and their auditing isnt finding problems, once again, why are we paying the fees.

[Steffo]

I agree with that Ollis guy. Its Westpac's problem. If a bank gave me $x amount. I'd take it. It's their fault 100%. I didn't ask for it, didn't know it was coming, plan for it or anything... so how can it be fraud?

Mmm... would be nice to wake up one morning, go to the ATM, do a account balance check and have it return "$11,000,000." :