Bank Wants Altoona Couple To Repay $280,000 Deposit Error

[Kor37 9]

Bank wants Altoona couple to repay $280,000 deposit error

AP

Posted: 2008-05-15 08:51:50

HOLLIDAYSBURG, Pa. (AP) - First Commonwealth Bank is suing a retired Altoona couple claiming they have withdrawn most of more than $280,000 mistakenly deposited into their account.

 

The lawsuit says Herbert and Becky Starbird have "withdrawn or depleted" more than $177,000 of the money deposited in October. The bank says the mistake wasn't discovered until Feb. 5.

 

The couple's attorney, Thomas Dickey, says the couple isn't to blame, although they are trying to arrange to repay the money.

 

Dickey says Herbert Starbird repeatedly told the bank the deposit was a mistake but that bank employees insisted the deposit was proper. The bank says it was not informed of the mistake.

 

Dickey says the couple eventually started spending the money after the bank insisted it was theirs.

This bank should just eat it. If they were stupid enough to not investigate and continuously tell this couple that the money was theirs they deserve to lose it.

Edited May 16, 2008 by Kor37

[MrPsychic 1]

The bank will eventually take the hit of money. As this story expands, more and more people will start calling and writing the bank to complain, it's really bad PR.

[VaBeachGuy 12]

The couple should have known better than to spend the money regardless of what the bank said. I can't say I'd have done any differently but I'd like to think I'd take the money and put them into a CD that pays compounding interest. They'd at least make a little money off it until the bank found the error.

[Theunicornhunter 2]

Did they tell the bank in writing and did they get a response in writing.

 

They knew the money wasn't theirs - you just dont overlook $280,000 - they should have talked to someone else all the way up to the manager rather than taking the first person to answer the phone.

[ddillard 2]

I have to agree that they should have known better, and that I probably would have done the same thing as well. I would have put it into something that drew interest so that the money was available if the mistake was found, but so that it could make me some money in the process.