Account Linked to Wrong ATM Card
Answer by Andy Zavoina and Randy Carey, BOL Gurus Guru Bio
Question: This was our error. We linked a customer's account to another customer's card number. Of course, the customer with the card withdrew all of the other customer's money. We are reimbursing the customer whose money was withdrawn, but do we have any recourse against customer who withdrew it, since it was our error? He should have known that he did not have that much money in his account, and he should have informed us that something was wrong.
Answer by Andy Zavoina: Look up "undue enrichment", which is what it sounds like. Depending on the amount, you may want bank counsel's involvement. This could be criminal, I'm not sure. You also will want to revisit your verification procedures on this.
Answer by Randy Carey: I'd take a quick look at the account of the customer with the card. I suggest posting each of the offending transactions to that account in a way to provide the required Reg. E information with the statement. Then, if there are any unpaid withdrawals left, I'd worry about taking legal action.
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