How much money?

[GH85Carrera]

I closed a checking and savings account I had with Chase. The largest bank in the USA. I received this letter from them yesterday:



Wait what? I am TEN TRILLION overdrawn?
Nope I got one of these letter for the saving account as well. Chase wants 20 TRILLION bucks from me?

Boy howdy I am glad I had that overdraft protection so I did not bounce the check I wrote for a few dozen aircraft carriers. I would think I would remember buying all of Washington DC.

I wonder if there is 20 Trillion in the entire world economy. If all the cash from every business & individual was pooled together is there 20 trillion?

The bad news is they might charge me extended overdraft fees if I continue to have a negative balance. Yea, right. Tack on a few bucks, see if that makes a difference.

[tangerine911S]

It's only 10 BILLION (not trillion). Hope this helps.

[gshase]

Dude, you are officially broke and you have a letter to prove it. I once got a letter from my former stock broker about $127 million that they deposited in my account by mistake and when they found out what they did they cleaned out my account of everything I had. I still have the statement saying I had 127 M in my account.

[GH85Carrera]

Originally Posted by tangerine911S

It's only 10 BILLION (not trillion). Hope this helps.

Yea, Billion is a lot better than Trillion.

I guess with all those zeros I lost count.

[romad]

That was a miss directed letter...was meant to go to the white house

[LeeH]

Too bad the mistake wasn't in the other direction.

[schamp]

Keep an eye on this. This could, impact your credit report or score. Not to mention the collection agency that will be calling soon.

[Neilk]

Originally Posted by gshase

Dude, you are officially broke and you have a letter to prove it. I once got a letter from my former stock broker about $127 million that they deposited in my account by mistake and when they found out what they did they cleaned out my account of everything I had. I still have the statement saying I had 127 M in my account.

In my single days, I would have framed the letter in the front entrance of my doorway and had a block party... would have made for a fun couple of "dates" until the gold diggers figured out the truth.

[Hugh R]

When I sold my Aston Martin for a boatload of money, I showed the receipt from the ATM to a single male office worker of mine. He asked if I could print out a dozen for him. He wanted to have them to scribble his name and phone number on them and give them out to chicks he met at clubs. He figured with a mid-6 figure account statement, he'd get some phone calls back. I didn't give them to him.

[red-beard]

To err is human. To really screw things up requires a computer!

[Shaun @ Tru6]

this makes you too big to fail allowing you to borrow billions from the government at 0.1% interest.

or just go for the taxpayer bailout and pay yourself huge bonuses, your choice.

don't forget to tip your lobbyist.

[1-ev.com]

Originally Posted by schamp

This could, impact your credit report or score. Not to mention the collection agency that will be calling soon.

Do not worry he " ...will be AAA always" as it been said by the Americas best! or just tell this folks to jump start you account economy or fix flat wallet - join them https://autoclubsouth.aaa.com/Join/JoinEntry.aspx?nvbar=Membership:Join

[GH85Carrera]

Originally Posted by schamp

Keep an eye on this. This could, impact your credit report or score. Not to mention the collection agency that will be calling soon.

I would LOVE to have a collection agency call me asking for 20 Billion.

[doug_porsche]

Last year I had the opposite problem. When I deposited a check for less than $200.00 dollars in to an account that had less than $2000.00 they gave me a deposit slip receipt that had my current balance. It was off by a number of decimal places, as reported I could have almost paid off your overdraft.

I asked the teller if she would double check the balance, I had not left her window yet, she hit me with attitude saying that it had to be correct, why should she double check it.

When I mentioned that if it is correct, I would like to withdraw 10 or so billion dollars.....

She double checked.

[ckelly78z]

20 trillion, heck, our administration has that earmarked for the next 4 years. Oh, only 10 billion, that's all in a days work in Washington.

[krystar]

quick, set up a debt collecting agency and take commission on collecting that debt!

[beepbeep]

I program this kind of stuff for a living.

A long shot explanation:
they "zeroed" overdraft account variable on closure, then the letter was triggered by attempted overdraft and read the same field w/o checking first if account was closed or not (I bet it happened on the same day, but before nightly batch).

Probably a rare race condition. Somebody in their IT department didn't do his/hers homework.

[RWebb]

Originally Posted by Hugh R

When I sold my Aston Martin for a boatload of money, I showed the receipt from the ATM to a single male office worker of mine. He asked if I could print out a dozen for him. He wanted to have them to scribble his name and phone number on them and give them out to chicks he met at clubs. He figured with a mid-6 figure account statement, he'd get some phone calls back. I didn't give them to him.

but did you use his idea?

[Scott R]

Originally Posted by red-beard

To err is human. To really screw things up requires a computer!

Someone wrote the algorithm behind that mistake. Billions are lost each year in the banking industry due to poor math skills.