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Bank Error |
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Bank Error A situation in which a bank incorrectly states the amount of money in an account. It may occur for a number of reasons, such as a payment that does not clear or a deposit that is placed in the wrong account. Persons benefiting from a bank error ordinarily are not entitled to keep the extra money because the bank (or the true owner) has a certain amount of time (usually years) to find and reclaim it. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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