QLD Employee Liability for Losses - Money Transferred to Wrong Bank Account?

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Flamingo1

Member
14 April 2015
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Hi. I work at a bank and am terrified of mistakenly depositing or transferring a large amount of money to the wrong person's bank account and it can't be recovered. If this happened, would I be personally liable under employment law to repay the money as the employee that made the mistake?

Thanks
 

Tracy B

Well-Known Member
24 December 2014
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Australia
Hi Flamingo1,

Your bank should have a policy about this.

From a client's point of view, if a person receives a sum of money and it is apparent, or becomes apparent later on (e.g. bank sends them an email/letter), that the deposit is due to a bank error, then they are legally required to return the money. They should not withdraw it, squander it or take advantage of a mistake. Therefore, your mistake should be fixable.
 
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Rod

Lawyer
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27 May 2014
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Check your employment agreement. If it silent on this matter and if you've acted in good faith, you should be OK. However if you acted dishonestly (eg money ended up in a relative's account) you will likely face both criminal and civil charges.

Tracy, not sure something like this can be included in a company policy document and have legal effect, as the policy document is always subject to change at the whim of an employer. Cannot remember ATM the name of the legal principle that applies here.
 

Flamingo1

Member
14 April 2015
2
0
1
Thank you, it isn't mentioned anywhere in my employment contract or code of conduct so was unsure.

Appreciate your input!

Cheers