We all know that when there is a bank error in their favor, you have a certain window of time to dispute the error and get it resolved. But what about errors in your favor? How long should you wait, before dismissing the liability?
I ordered a gift card from a popular national retailer. They shipped it to me, then then shipped it again. And since I had multiple orders in process at the time, I’d spent both before realizing one was a duplicate. I fully expected either an additional charge to my credit card or a “bill” in the mail, but 2.5 years later I’m still waiting.
I recently had fraud issues with a credit card. But after reporting it and getting the card reissued, a pending in-person store charge (that I confirmed multiple times was not included in the fraud report) literally disappeared. I’ve waited patiently for the charge to eventually post, or for the store to flip out over a large purchase being “disputed” (I even reached out to warn them of the possibility). But 2 months later and it’s still vanished.
One time, a now-defunct payment processor paid a bill twice. I have no clue if they sent it twice, or if the biller applied it twice. 3 years later, and I’m still waiting for the duplicate to be reversed.
In the days of green dot moneypaks, I had a load credited to a prepaid card twice. The duplicate was later reversed, but only after the card had been closed and the balance refunded. With a negative balance I kept waiting for them to come asking for the deficit, but 7 years later, still not a peep.
So how long do you wait before considering such errors to truly be “found money”? I fully intended to make good on each debt, thus I’ve continued to keep these funds available to cover any attempt to correct the mistakes. But how long is long enough?
). I dont know for certain who was left holding the bag (the merchant they were purchased from, Blackhawk, the merchant they were spent at), but I most definitely still have the extra.
