[size=10pt]ATM mistake costs him $750
He transfers money to wrong account number but bank can't return cash to him.
Mon, Dec 15, 2008
The New Paper
HE inadvertently transferred $750 to the account of a stranger - and is upset that he can't get his money back.
His bank has been unable to contact the account-holder and has told him it can't just deduct the money from the 'wrong account'.
The bank security officer, who wanted to be known only as Gerald, 32, wanted to repay a debt to his friend via electronic transfer from his POSB savings account on 21Nov.
But he keyed in a 'totally wrong' account number at a POSB ATM in Ang Mo Kio.
He made the transfer at 5.33pm but realised his mistake only after 6pm, when most bank branches are closed.
So he took the MRT and rushed to The Centrepoint POSB branch, which he knew was still open. 'I have never run so fast in my life before,' he said.
He reported the wrong fund transfer at 7.05pm.
He thought that would settle it. But when he didn't get back his money after several days, he called POSB and was told it could not simply transfer the money back as the account-holder could not be contacted.
'I thought it was clear-cut,' he said. 'So does it mean that if the person refuses to return my money, it's gone?'
The bank told him it had sent a letter and also tried calling