Beware Internet banking

[Bismuth]

We've been double-paid twice at work. They just reverse the one amount, virtually immediately.

B

 

[w1z4rd]

When I was 18 and a student.. I looked in my bank account one day... expecting it to show the same negative balance.. and there was R2500 in it!!! I thought perhaps it was from my dad, but did not question it.. and spent it.

Later that week I phoned my dad to thank him for the loot, and he told me he had not put the money in.. so I went to the bank and told them someone had put the money into my account and I had spent it. After a couple of calls the woman said that I, "had open up a whole can of worms".

I never found out where the money came from and they never asked me to pay it back again.

 

[CathJ]

I love that bit about "South Africans enjoy real time transactions". If it's so real time, why does it take 2 to 3 days for a transfer to appear in the destination account?

 

[Kloofvreter]

We've been double-paid twice at work. They just reverse the one amount, virtually immediately.

B

I think the payroll software can do that directly with the banks.

I love that bit about "South Africans enjoy real time transactions". If it's so real time, why does it take 2 to 3 days for a transfer to appear in the destination account?

If you transfer money to someone else at the same bank as you, it is immediately available, but to transfer money to another bank, it has to be cleared first. I know ABSA Internet Banking has an option to make interbank transfers available immediately, but I think there is a cost involved.

 

[Sackboy]

We've been double-paid twice at work. They just reverse the one amount, virtually immediately.

B

You would have signed forms allowing them to do this.

 

[sly]

I've been sitting on a substancial amount of money, deposited into my account almost a year ago, don't know who deposited it, it was a cash deposit. Still waiting for someone to claim it.

 

[Kloofvreter]

You would have signed forms allowing them to do this.

They can do this without any signature. Happened to me as well, when I got paid someone else's travel allowance, etc etc.

I've been sitting on a substancial amount of money, deposited into my account almost a year ago, don't know who deposited it, it was a cash deposit. Still waiting for someone to claim it.

This is a potentially dangerous situation. DON'T use that money, because if you do and someone else claims it, you are responsible for all of it. IIRC, you are even liable for the interest accumulated on the amount.

 

[air]

when paying amounts to a new account number, I transfer R1 and ask them to confirm that they received the amount.

 

[Syph0n]

I've been sitting on a substancial amount of money, deposited into my account almost a year ago, don't know who deposited it, it was a cash deposit. Still waiting for someone to claim it.

I'm pretty sure they have to make it known to the bank. After a year I doubt there's anything they can do to get it back if they haven't already reported it.

 

[rorz0r]

I've been sitting on a substancial amount of money, deposited into my account almost a year ago, don't know who deposited it, it was a cash deposit. Still waiting for someone to claim it.

Oh sh*t sorry that's mine. I've been meaning to tell you about it...