We all know by now that everyone isn’t perfect. With computers and technology today, you would think that everything at a bank would run smoothly. When you deposit that check or cash, you rely on the bank to credit your account. So what happens if you receive a deposit in your favor? Or the bank never credits you for a deposit?

When it comes down to deposits and banking, it’s very important that you save all of your banking receipts. It’s best to create a folder and store these receipts until the deposit at least clears. Even when the deposit clears, it’s still safe to keep these for tax purposes, etc. After the tax year is up, its then either safe to throw them in a box and throw it in the attic or shred them using a secure paper shredder.

If you find out that the bank hasn’t credited your account properly, you will want to contact the bank immediately and explain your situation. After you speak with the bank, they may be able to help you over the phone. If they’re not able to, you may have to set up an appointment to meet up with someone in person. Chances are if you have a receipt and the proper evidence, such as a copy of the check stub, etc., you will have no problems working this out. A lot of the times, these problems exist with ATM failures but are very rare.

Now, let’s say that the bank credits you more money in your favor. What do you do? 99% of the time, the credit to your account will be found and you will be required to pay this money back by law. A lot of the times these errors may happen by either companies slipping up and paying the wrong person or a simple bank mistake.

While it may be nice to wake up and find that you’re a thousand dollars richer, chances are that you’re going to get caught. Instead of risking it and spending all of the money, you should simply pick up the phone and notify your bank. From there, they will be able to help you. Let’s just remember that the tables were turned and your company paid the wrong person, you would want to money back as well.

How often does this happen? While banks want to say they never make errors. Let’s face it, everyone does. The chances it happens to you will be very slim but just in case you ever come across an error, it’s a safe bet to report it and like we noted above, if a bank makes an error that isn’t in your favor, you will do something about it. The lesson in the long run is regardless of what happens, good or bad, it’s always best to call up your bank and tell them what’s going on.