Extra Money Received

[CAGuy25]

I live in CA and bank through USAA.

I don't know if this is the right area, but if it is not could someone please point me to the right area.

I was in the process of my normal monthly billpaying when I went to my account to transfer some money. Lo and behold I found that for some reason or another a deposit has been made to my savings account for over a thousand dollars. This is money that I am unaware as to why I would receive it and unsure where it came from. It appears to have something to do with the Army but I can't be sure, the line reads "ACH DEP-DFAS-IN IND, IN ARMY ACT".

I am unsure if this is mine to keep or what. Can someone let me know what is the law in my state as to whether an amount deposited in my bank can be used by me regardless of whether it's mine or not? And can it be taken back at anytime?

If someone could let me know the law I'd appreciate it. Thanks

 

[crusheroz]

That is a deposit from DFAS. Are you in the Army? If so, and DFAS made a mistake, they will take it back one way or another. If the money was deposit into your account by accident, then it would only be right to call USAA and have them check into it. Do not spend something that is not yours. You will end up paying for it in the long run.

 

[CAGuy25]

I realize that I'll pay for it in the long run, but the way I look at it right now, with my current financial situation, this could be like an unofficial loan. What is DFAS?

 

[ShyCat]

DFAS = Defense Finance and Accounting Services. They handle all the military pay for active duty, reserve and retired personnel.

It is not a free loan to you! DO NOT SPEND that money! The Department of Defense does not care about your current financial situation. Don't mess with them.

 

[crusheroz]

THe money will be taken out of your account. It sounds like you got someones paycheck deposited into your account. Trust me!! That person will be finding out where their money went too. I dont know how you could even consider spending someone else money.

 

[VR_Hunter]

Having been in the military, I assure you that DFAS will and I mean WILL come take the money back if it does not belong to you. They will not ask, or say, "by the way here we come", they will take it even if it means putting your account at a Zero balance. Outstanding checks won't make a difference to them. You will be stuck with the bounced checks and fees. They won't care since the money didn't belong to you in the first place. Call your bank and tell them what the situation is. Let them fix it before you get into a situation that will make you come out the worse for wear.

BTW, it is normal to want to spend the money, just don't do it.