The check was deposited on Wednesday. Immediately after calling the bank (and being reassured that it would be taken care of), she went into her work and notified her manager of the error. She also produced the receipt.
The manager and her co-workers acted like the whole thing was a joke and took pictures of the receipt. One of them edited out my daughter’s personal information and posted the photo of the receipt on her facebook.
So she does have it documented that her manager was notified and she has time/date-stamped photos to prove it.
I don’t see how she can get into trouble *at this point*. What I can foresee are IRS issues next spring.
We’ll give it until Tuesday afternoon (hope the clearing house catches it), then start making more calls.
I wouldn't be too concerned about IRS issues unless her W-2 is screwed up too....which is really, really unlikely. Banks are required to report cash transactions in excess of $10k but, frankly, in the banking world $98k isn't that big a deal.
I personally believe that contacting HHR or accounting and reporting the issue and steps taken to correct it is the best policy. Her employee handbook should list the direct numbers for one or the other. A manager might get a slap on the wrist for not passing the information to HHR, whereas HHR might see it as for cause reason for dismissal.
And again, I mention that the clearance center could place a hold on her account for the entire erroneous amount, even if it exceeds her balance. Which means every transaction that occurred since the deposit may be denied and fee placed on her account. The bank manager should be able to clear those, if it does happen. If she calls the bank manager at or before bank opening on Monday, the manager can check her account and keep an eye out for those cascade fees. This is the branch manager directly, not the 800 number for customer service.
Sounds like a reasonable solution and the honest thing to do. Just out of curiosity, which bank?