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Citi global transfer max amount10/19/2023 A Pennsylvania couple faced felony charges after spending money accidentally deposited in their account.īut New York law has exceptions to this rule, known as the “discharge-for-value-defense.” Accidental transfers are common in the digital age, and wires can be paid back instantly. The law usually punishes those who spend money accidentally deposited in their accounts. Citibank filed a lawsuit in August seeking the return of its funds, but it still has not received $500 million from 10 investment advisory firms after the accidental transfer. Some lenders did return the money, but others did not. (C) accidentally sent $900 million to Revlon’s lenders. (C)bank accidentally wired almost 100 times that amount, including $175 million to a hedge fund. (C)bank, which was acting as Revlon’s loan agent, meant to send about $8 million in interest payments to the cosmetic company’s lenders. After committing one of the “biggest blunders in banking history,” Citibank won’t be allowed to recover the almost half a billion dollars it accidentally wired to Revlon’s lenders, a US District Court judge ruled.
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