Opening the bank account and finding an unexpected income is a reason for joy, but if the amount amounts to 2.45 billion dollars (2.076 million euros), the surprise turns to disbelief.
This is what has happened to a Bank of America customer, who a few days ago found an income from the entity of this amount. According to Bloomberg, the user, from Massachusetts (USA), initially thought that the bank would realize the error, but it was not, so he decided to contact his manager to find out where this gigantic amount of money came from. it appeared both in the statements of his account on the bank’s website and in the mobile application.
The bank has already fixed the error and ensures that in reality, these more than 2,000 million were never in the customer’s account. “It was a display error and nothing more,” company spokesman Bill Haldin told Bloomberg. However, it is not the first time that Bank of America has faced a failure of this type: at the beginning of the month, the entity had certain display problems that caused customer inquiries made on the web or in the mobile app will show incorrect balances. Although then, the errors were not in their benefit, since their accounts showed that there was not a single dollar left in them.
In both cases, the failures have been easily fixed, unlike the legal battle Citigroup faces after also making an accidental transfer a few days ago, in this case to a group of mutual funds. The bank, administrative agent of the cosmetics firm Revlon, transferred 900 million dollars (750 million euros) due to an “operational error” to the accounts of the creditors of the firm, in a bitter battle between them and the company over debt restructuring.
Although some of the funds have already returned the money they received, others like Brigade refuse and argue that the operation corresponds to the repayment of the loan. However, the bank indicates that it only wanted to pay the interest but transferred amounts 100 times greater.
All this has led to a legal battle and contacts with supervisors. The bank has begun informing the Office of the Comptroller of the Currency and the Federal Reserve about how it could have made such a mistake, according to people familiar with the matter. Likewise, Citigruip filed a lawsuit on Monday against Brigade Capital Management, in which, however, it does not explain the reason for the error made.