- Bank of America recently experienced technical errors that led to its customers receiving unusual bank balances
- A man in Massachusetts found his bank balance had been credited and was reading KSh 264 billion extra
- He assumed the bank could rectify the error but after a few days he realised it had not been changed forcing him to report to the bank
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What would you do if you woke up one day only to find over 200 billion in your bank account? Could you report it or just go ahead and use it?
Now that was the exact dilemma that an American man found himself in after waking up only to find GHc 14 billion ($2.45 billion) displaying on his mobile banking application as his balance.
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In a report by Bloomberg, Massachusetts psychiatrist Blaise Aguirre found the money in his account but did nothing about it.
In his mind, the Bank of America customer thought the lender could discover the error and rectify it, so he never bothered to ask the bank about the humongous amount of money in his bank account.
When that didn’t happen, he reached out to his relationship manager to inquire about the mysterious money showing up on both the web and his phone’s mobile app.
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“This was a display error and nothing more than that. It’s been corrected,” Bank of America spokesman Bill Halldin said.
However, the multibillion-dollar mishap wasn’t the first involving customer accounts.
Weeks ago, the lender had a temporary display issue that caused some online and mobile-banking clients to see inaccurate balances.
That mistake, however, wasn’t as potentially lucrative as Aguirre’s 264 billion mirage: Their accounts were showing zero balances.
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The story came barely days after another man who was expecting KSh 180,000 coronavirus stimulus package received KSh 868 million mistakenly.
Charles Calvin, a volunteer firefighter in New Chigaco, Indiana, went to withdraw KSh 20,000 and was surprised to find his receipt confirming a balance of KSh 868 million.
Later on, he called his bank to ask if it had noticed the mistake and he was told the money was no longer in his account.
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