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I need help!!!!!!! (about money) Kind of urgent.

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mrsmiley

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So I checked my bank account this morning (where I work it's automatic deposit) and to my suprise the company doing payroll accidently overpaid me by 747 dollars. When I got to work,to my suprise I discovered they overpaid everyone.

The front office is claiming the company is going to go back into all the accounts and withdraw the overpaid money. Others are saying they don't have the authority to do that because when we signed up for the auto deposit we never signed anything stating they have the right to withdrawl anything from our accounts. My fear is that if they can get in an withdrawl money from their mistake,what's stopping them from doing it any other time?

Department heads are claiming they can't garnish it from our paychecks because they have to pay us for the time we work. Does anyone know if they can actualy do this or are they just sol?
I have no problem paying back money that's not mine but at the same token I don't like the idea that they can go in my account at will either.

Post #1   5/27/11 2:51:02PM   

scoozna

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This happened once where I work with auto-deposit as well. They made a direct deduction from my account to take the money back. They clearly had the authority to do it because it happened. I suppose you can worry that they can do it whenever they want - but they will get themselves in trouble. I always review my paycheck anyway, as should everyone.

It's worth raising a bit of a stink over - let everyone know you question their competence. Demand answers, ask what they are going to do to make sure it doesn't happen in the future...etc. Try to hold them accountable in a reasonable way.

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Post #2   5/27/11 2:59:19PM   

Budgellism

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All I know is don't spend that extra money because there could be legal problems and no, they can't go into your bank account at will.

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Post #3   5/27/11 3:00:38PM   

mrsmiley

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Thanks for the advice guys I appreciate it.

Post #4   5/27/11 3:06:27PM   

gravy13

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Let's be honest, the main reason people are making a big deal about it is because they somehow want keep that extra money. I wouldn't worry about your company going into your account and withdrawing money at will. There would be so many legal ramifications if that happened.

Post #5   5/27/11 4:15:32PM   

KungFuMaster

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I worked for a privately owned business and when they overpaid me, they simply deducted money from my future salaries.

My advice is to not spend that extra money.

Regarding your concerns, you should keep track of all your hours and wages for the next year at least.

I was in the military. A payroll guy stole one penny from everyone for who knows how long. He was eventually caught so if I were you, I would calculate all my earnings each and every paid period to ensure the payroll staff of your company is not up to no good.

Post #6   5/27/11 4:26:51PM   

jjeans

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Posted by KungFuMaster

I worked for a privately owned business and when they overpaid me, they simply deducted money from my future salaries.



That's my girlfriends experience also.

It has worked the other way for me too, they underpaid me and I worked it out when they overpaid me the month after.

Hope this has been slightly helpful

Last edited 5/27/11 4:29PM server time by jjeans
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Post #7   5/27/11 4:29:02PM   

postman

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I see your concern I mean whats to stop them from draining everyones account and skipping town. Next thing you know your broke and without a job your savings are spent and they are livining it up overseas. I am going to ask my HR head about this on tuesday. If they have the ability to withdraw from my account then i'm droping dd. Thanks for the heads up.

Post #8   5/27/11 6:40:47PM   

decken

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Posted by postman

I see your concern I mean whats to stop them from draining everyones account and skipping town. Next thing you know your broke and without a job your savings are spent and they are livining it up overseas. I am going to ask my HR head about this on tuesday. If they have the ability to withdraw from my account then i'm droping dd. Thanks for the heads up.



You should probably take all your money out of your bank because they may take all of it and skip town!
Anyways most people get money from there jobs so if they wanted to take money from you they would just not pay you for the work you do.


When you sign up for auto deposit most companies have you sign something stating that if they overpay you they have the right to withdraw the incorrect deposit. At least mine did (it is in fine print). This is nothing to worry about. If you think it is please find me proof of any once legitimate company stealing from its employee's bank accounts. I would be much more worried about companies that you buy things from not keeping your information safe.

Last edited 5/27/11 7:43PM server time by decken
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Post #9   5/27/11 7:28:46PM   

postman

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Posted by decken


Posted by postman

I see your concern I mean whats to stop them from draining everyones account and skipping town. Next thing you know your broke and without a job your savings are spent and they are livining it up overseas. I am going to ask my HR head about this on tuesday. If they have the ability to withdraw from my account then i'm droping dd. Thanks for the heads up.



You should probably take all your money out of your bank because they may take all of it and skip town!
Anyways most people get money from there jobs so if they wanted to take money from you they would just not pay you for the work you do.


When you sign up for auto deposit most companies have you sign something stating that if they overpay you they have the right to withdraw the incorrect deposit. At least mine did (it is in fine print). This is nothing to worry about. If you think it is please find me proof of any once legitimate company stealing from its employee's bank accounts. I would be much more worried about companies that you buy things from not keeping your information safe.



I asure you I never signed anything to that effect. The paper I signed had very little verbage and it was all where and how much I wanted to deposit. I'm not going crazy over it but If you can't see that as a problem then your faith in man kind is much deeper then mine.

Post #10   5/27/11 10:01:02PM   

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They can and will take it right back out. Has happened to me a bunch of times where they overpaid and take it right back out.

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Post #11   5/27/11 10:17:52PM   

emfleek

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Posted by Shawn91111

They can and will take it right back out. Has happened to me a bunch of times where they overpaid and take it right back out.



Ditto. I've had it happen to me at least half a dozen times over the years.

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Post #12   5/27/11 10:40:00PM   

FrankTheTank1181

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This same thing happened to my company a few months ago. Everyone who had auto-deposit got their checks deposited 3 times, lol. It was corrected the next day though so I would say not to count that extra cash in your budget.

Post #13   5/28/11 9:44:44PM   

Kpro

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withdraw the money as soon as possible, change banks, and start applying for a new job.

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Post #14   5/29/11 12:11:29AM   

pmoney

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No entity can take money from your account without your expressed, written permission.

Post #15   5/30/11 1:51:10PM