We have a customer who has received two debit card deposits from a well known insurance company for approximately $6000 and $17000.00. The first one was in July and he has already withdrawn the funds. The $17000.00 was just deposited today. The account was opened in March of this year. Other than these two large deposits he has only made random small deposits. When questioned as to what the deposit was for yesterday, he just stared at the bank manager. So she asked him if he was receiving the funds for a car accident he then answered "yeah yeah yeah". So she was blunt and asked he what he was going to do with the funds and he said "put it in my stash". It just seems strange that he is receiving credits to his debit card for these amounts from an insurance company. Can a deposit in this fashioned be retracted by the company? The $6000 was deposited in July and nothing has come back to us. But we are worried about what our options are for the $17000.00.

Any help or thoughts would be appreciated.

Update - the deposit was initiated as a money transfer.

Thanks!

We have seen this happen recently...I believe it was either Allstate or State Farm insurance that facilitated the claim payment in this manner (via debit card). I thought it was unusual as well...but in our case, it was fine.

I found this link as well -

https://www.allstate.com/claims/claim-payments.aspx

Thanks Control Guy! This one was from State Farm. I did call State Farm and verified that this was a good payment and apparently they are making debit card deposits also.

The situation just seemed a little sketchy, especially with the way he answered things, but I'm glad to know it was all on the up and up!