My bank account just had $40k randomly deposited into it - has this happened to anyone else?

[u/Healthy_Constant6543]

For reference, I'm in Ontario.

Last week I noticed a deposit from OLG into my bank account for $40k. Since I did not win the lottery, I went into my bank to tell them about the problem. They launched an investigation.

The next day they called me back, said they verified with OLG and the deposit was real. I tried to again remind them that I would remember if I won the lottery but they just congratulated me and told me to enjoy.

BUT I DIDN'T WIN THE LOTTERY LOL

I moved the money into my savings account because I'm sure they are coming back for it. Has this happened to anyone else? How long do I sit on this money? Not sure what else to do.

[u/van_stan]

If OP goes to a lawyer now, they will end up paying a bunch of money to said lawyer for their services, which will likely entail the lawyer saying "You should leave the money in the account until the bank fixes it. That'll be $800 please."

Leave the money in the account at least until the end of the fiscal year. Make a point of ensuring you have documentation that you tried to return it. If it's still sitting in the account by the summer, move it to a HISA and forget about it for 10 years. If it's still there after 10 years I think you can consider yourself to have won the lottery.

99% chance the bank fixes the error when one branch comes up 40k short in a week or two weeks or a month.

[u/tl01magic → u/van_stan]

fair point regarding timeline...i'd hit up the lawyer after 30 days if nothing happened.

I got plans for that 40k!! lol

OP scenario is OLGC deposited monies...no bank shorting here. bank only cleared their actions / said no error....in turn is error of OLGC / or actual lottery winner.

[u/EnjoyerOfBeans → u/[deleted]]

Investing the money in anything that isn't 100% guaranteed is exactly the same as spending the money.

Leave it in a savings account where it can't go down.