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Off-Topic Discussion => General Discussion => Topic started by: karajorma on January 18, 2012, 09:24:04 pm

Title: Bank Error In Your Favour. Collect $9.8bn.
Post by: karajorma on January 18, 2012, 09:24:04 pm
http://www.bbc.co.uk/news/world-asia-india-16607018

Quote
An Indian teacher got the shock of his life when he checked his bank account online and found 490bn rupees ($9.8bn).

Parijat Saha expected his balance to be $200 and could not believe his eyes - but a check at an ATM confirmed his billionaire status, on paper at least.
Title: Re: Bank Error In Your Favour. Collect $9.8bn.
Post by: Bob-san on January 18, 2012, 09:44:07 pm
http://www.bbc.co.uk/news/world-asia-india-16607018

Quote
An Indian teacher got the shock of his life when he checked his bank account online and found 490bn rupees ($9.8bn).

Parijat Saha expected his balance to be $200 and could not believe his eyes - but a check at an ATM confirmed his billionaire status, on paper at least.
Better, don't mention it to the bank and see if the funds clear. Transfer them through a dozen bank accounts and out of the country. And don't forget to buy 200 short tons of gold on your way out!

(In reality, this wouldn't work because banks typically can't approve large transactions immediately--fractional reserve banking means they probably don't have that type of cash on-hand and thus need to liquidate portions of their portfolios. He'd probably be better off buying rare art or something--it's ridiculously difficult for individuals to get rid of $10B in short order.)