Legal Question in Banking Law in Maryland

I deposited my money into the bank and the account number given to them was very simillar to someone else but the bank did not notice the error and went on to deposit the money anyways however few days went by and I went back and both the bank mangers and I were able to pin point the issue but now the question was them redirecting my money into the right account (mine). The promised they would but I've been going to this bank like almost everyday for almost two weeks now and the managers have been making phone calls to their so called deposit head quarters and filling out forms that the head quarters have so called still havn't received and everyday I go I get promises either for a provisional credit so that I can at least get gas but I see no money in my account and while they are investing my money to make money on their part it is clear that they know an error which they failed to recognized occured but are playing games with my money in order to invest it for their gain and not returning it to me while I'm struggling without no money. My question is can I sue them for this and if I do will this be a civil suit and what is the maximum amount of dollars can I sue for? Thanks a lot.


Asked on 12/10/10, 5:25 am

1 Answer from Attorneys
Phillip M. Cook Cook Legal Services, LLC

If you can't pay your gas, you can't afford to sue over this issue. The bank has a reasonable opportunity to fix the problem. With that said, the amount you deposited was likely insured by the FDIC, so you shouldn't have an issue ultimately getting the money back. The speed in which you get it back will be the issue. I think you are doing the right thing -- go down there every single day and nag. When you go today, don't leave until they give you the provisional credit -- don't walk out and take their word for it that they will do it. We live in an age of computers -- provisional credit can be given with a few key strokes. This may be the time to think about switching to a larger bank -- if you go with a large, national bank, they would likely have given you the provisional credit immediately so you don't have to go through this.

Best of luck.*****The above is for informational purposes only and does not create an attorney-client privilege.******

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Answered on 12/15/10, 6:02 am


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