Legal Question in Banking Law in Indiana

Unauthorized draw from checking account

I sent my personal check to the electric company to pay my monthly bill (the amount was let us say $5). I checked my checking account on line and later discovered that my bank had paid them $45). I reported this to both the bank and the electric company. The bank checked and corrected their error by putting $40 back in my account. A week later I received a check from the electric company for $40 (I had a credit because of the entry error). So the bank erred by paying a check amount I had not authorized and the electric company keypunched an amount that was not authorized. Question: What do I do with the $40?

Asked on 8/01/03, 12:54 pm

1 Answer from Attorneys

John Bator Bator Redman & Shive

Re: Unauthorized draw from checking account

Theoretically it belongs to the Bank

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Answered on 8/04/03, 4:22 pm

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