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A deposit was credited to my account by mistake. Does the bank have to get my permission before removing the funds?

No. If the bank deposited money to your account in error, it doesn't need your permission to remove those funds and deposit them into the correct account.

The bank may also correct the error by exercising an offset, which allows a bank to charge the account for a debt owed to the bank. Review your deposit account agreement for your bank’s offset policy.

Last Reviewed: October 2020

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on HelpWithMyBank.gov should not be construed as legal advice or a legal opinion of the OCC.

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