telegraphic transfer

About 2 months back a telegraphic transfer of about 10,890 USD was
transferred to my bank account.

I was not expecting this transfer and the sourse seemed unknown and so
immediately called up the

bank and informed them. They kept saying they would get back to me but
didn\'t. Instead it was me

who followed up with them 3 times and finally I clearly recall one of the
assistants who I had

spoken to said \"if the money is in your A/C its rightfully yours and you
can go ahead and use it

but still we will check and get back to you.\" This was conveyed verbally.
The bank never got back.

Its been 2 months and so I assumed the money was mine and finally went ahead
and used it and so

had about USD 2,989 balance in my account. Then one fine day I get a call
from the bank saying

that a wrong transfer was made and now they want the money back. I said I
don\'t have the money and

now after 2 months they have woken up and he said that he would speak to his
senior and get back

to me. Next day my bank balance was zero. They took the balance. When I
called them they said it

was a reversal being made. They had no right to touch my account, how can
they debit my account

without my authority? Theres a way of doing things...they could have frozen
my A/C and given me an

ultimatum or something. Now I have no trust in the bank and want to take it
to court. What

standing do I have if I put a case against them? I am penniless and
instructed my office not to

credit my A/c with my salary as they may hog up that too until they get
their 11 USD back. Please

advise urgently as I need to take action soon and very confused and
depressed. I don\'t know from

where am I now supposed to come up with the money. I know ethically speaking
its not mine but we

could have worked out an installment pay back basis but instead the bank
went ahead and did this.

Can they do such a thing?

Eagerly awaiting your response, thanks

I am not a lawyer but U are pretty much screwed as the money was never yours to begin with. If you were smart you would have put the money in a savings account and earned interest while the bank figured it out.

[olive]

Technically yes you do need to repay if you agree it is an error; you can however try to argue hardship in having to pay all or any substantial portion--saying that it was their mistake after all, and you spent it w/o realizing it was in error, and paying back now would be difficult...they often will not sue or take any further court action in these cases but will try to work something out. They may even settle on a partial amount.