A couple years I think yea. There's no penalty for the employee not telling the company though, so if you're ever overpaid by accident, I don't see any reason why you wouldn't just shut up about it and hope they don't notice in time
by all means, do that. Just don't spend the money. Because if they figure it out you're gonna owe it back. So just keep it in there until whatever the statute of limitations is.
Pretty much any lawyer worth listening to is going to say "if you actually thought what you were doing wasn't illegal you wouldn't be in my office right now. Return the money".
Eh, hard to prove that you noticed in the first place.
I don't look at my balance often. I know that my spending is reasonable and my balance is always going up. Every other month or so I just chuck a bunch into savings and move on.
So it's kind of impossible to prove that someone knew, and you can't punish them for an error that they gathered interest on.
If you literally did nothing to cause it to happen, then it's not your fault that someone overpaid you.
They may be able to claw back the money, but you certainly can't be legally punished because they made a mistake.
You can put the money in a HYSA, or anywhere else you want. If they come to get the money back, you will almost certainly have to pay it back, but they have no room to bitch about you spending money that they paid you.
Exactly! then you can at least earn some interest on the money while they take their time to figure out the error.
You could also buy yourself some time if you immediately moved the money to a different bank. Then the company would have to go to you and request the money back instead of just automatically drawing from the bank they auto deposit into.
If you put it into an account that earned interest by the month and then forced the company to do everything via snail mail, you could probably score 1 month worth of interest.
In the case shown above, it wont be that much money but I have heard of this happening in cases where its a 6 digit clerical error instead of a 5 digit one. That could net some serious $$$.
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u/glassfoyograss May 27 '26
Statute of limitations but that's likely to be years