fnb mystery deposit

Photo: YouTube screenshot / Lifestyle Financial Services

This is why you may have received a mystery deposit from FNB

It was the luckiest day of their lives, until FNB charged them reversal fees for an error they did not make.

fnb mystery deposit

Photo: YouTube screenshot / Lifestyle Financial Services

Twitter was abuzz on Tuesday as it appeared as if, First National Bank (FNB) was gifting random customers with thousands of rand in cash deposits.

Why did FNB deposit cash in random accounts?

As reported by EWN, scores of people took to Twitter to share how they randomly received cash in their accounts, ranging from a few hundred bucks to as much as R10 000.

At first, it was thought that the bank had been hacked, and so people were sending shout-outs to the alleged cybercrime syndicate for coming to their aid at such a time of need.

However, the euphoria would not last beyond Tuesday’s strange happenings because FNB soon contacted every single customer that had received the mystery deposits, notifying them of an internal error that had caused the frenzy.

The bank issued a statement via Twitter, on Wednesday, explaining that the random cash deposits were not caused by hackers. Instead,

“We can confirm that the issue of incorrect balances on some of our customers’ transactional accounts has been resolved. The incorrect balances were due to delayed debit card transactions for purchases,” the bank explained.

What is the recourse for those who have spent the money?

While it may have been a matter of reversing the transaction for some customers who did the smart thing and left the mysterious deposit untouched, others were quick to pounce and withdraw it.

However, much like this user, who received R8 000 and used it to allegedly repay his tuition, he now sits with an enormous overdraft of R8 543.

This amount, it seems, will be automatically deducted as soon as there is a payment made into his account.

If the user fails to settle the overdraft and opts to close or abandon the account, he or she is only prolonging the issue since the bank will most likely issue a notice to the credit bureau and have the negative scoring impact his or her credit record — and then the debt collector hounds will be unleashed on them.

In an unfortunate case of ‘unlucky me‘, it appears that the entire reversal of the erroneous transaction came with an additional fee charged to the customer for reasons FNB has failed to furnish.