She should still notify her company's HHR and accounting departments of the bank error and concerns she has about it. The company will of course contact their bank to ensure that the check is honored only for the amount it is written for.
In the meantime, she should be prepared for bounceback on her account. The clearance center may place a ‘hold’ on the check, debiting the full amount out of her account (including the million dollars the bank ‘corrected.’) She should assume that there is no money in that bank account for right now, and if you're in a financial situation to assist, provide her with temporary funds to tide her over until the error is corrected.
She should be prepared to answer questions from her company why she waited so long to notify them of the problem as well.
And have her print out a statement showing the high dollar amount to casually leave out for nosy relatives.
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.