I Found Over $2,000 in My Account from a Business I’ve Never Visited – What Should I Do?

While unexpected money like a lottery win can be a great thing, sometimes getting money you didn’t expect can lead to a real headache. The hope is that this doesn’t happen to you, but numerous stories exist of money appearing in random bank accounts without explanation. 

This is the exact case with one Redditor posting in r/personalfinance who suddenly discovered over $2,000 had been deposited into their account. They know the money is from a legitimate business, but it also originated from a business operating in a state where they don’t reside, leading to more questions than answers. 

Unexpected Money Deposit

For this Redditor, waking up to discover that this money had been deposited into their bank account was a complete surprise. Not only do they not know why the money was desposited, but the greater concern is that the Redditor lives in Texas, while the business is in Florida. 

From their research, they do know that this company buys and sells luxury watches, which is not something the original poster has any interest in doing. The current assumption is that they received money errantly, and it was meant to be deposited into someone else’s account. 

Given this sudden arrival of unexpected money, what should this Redditor and you do in this situation? 

Call the Bank

It should go without saying, but the first step in this case, or in any similar case, is to call the bank immediately and report an unexpected deposit. This achieves two goals: one, you have it on record that this isn’t your money, and two, the bank can no longer claim that you didn’t immediately report what could be a potential scam to steal from you. 

Whether or not this is a bank or vendor error isn’t really relevant at this point. What is important is getting it on record immediately so the bank is aware of it. You want to report the transaction as unknown and indicate that you want the transaction reversed, but you are open to guidance on how to proceed.

The good news is that banks are well-equipped to handle these situations and have dedicated departments to address them. Whether or not it’s a general issue that was nothing more than a typo on the account number or a fraud attempt, the bank will know what to do next. 

The other important thing is to keep all documentation related to this matter, especially any records of deposits. This may not be anything more than a screenshot of the deposit from your online account, but it’s still something you should keep, just in case. 

Consider Calling the Business

This is another reminder that while your first call should be to the bank, a second call may be necessary to the business to verify their legitimacy and understand the reason for the deposit. If you do take this step, for any reason, it’s critical that you don’t give them any more information over the phone than necessary. Most importantly, never, ever provide them with any banking information, no matter how hard they press for it.

In other words, you should tell them that a transaction in this amount, on this day, was made to you, and it’s up to the business to track it down. The company should be aware of every transaction made and be able to track down what occurred quickly.

If you do contact the business, keep a very detailed record of any communication you have with them. It is likely that once the company becomes aware of this mistake, it will take corrective steps in conjunction with the bank. However, if they claim the money was meant for you, then you need to take another step and go back to the bank out of concern that this is an act of fraud. 

If there are any concerns about how this money was received, and neither the bank nor the depositor is of any help, contacting a lawyer who deals in finance might be the next step.