My bank mistakenly credited my account and I withdraw the money as I was expecting money at that time. I wasn't contacted by the bank till after 3-4weeks. Now the banks are blocking my BVN and putting my account on watch list. How do I resolve this? T

Posted Tue, May 6, 2025 1:56 AM

Good day from Recososa Law Firm!

Your situation involves a mistaken bank credit and subsequent withdrawal, which, while possibly done in good faith, may have legal and financial consequences that require immediate resolution. Under Philippine civil and criminal laws, mistaken bank credits are generally treated as solutio indebiti, a legal concept found in Article 2154 of the Civil Code which states that if something is received when there is no right to demand it, and it was unduly delivered through mistake, an obligation to return it arises.

a.) Since you withdrew the funds believing it to be your own due to an expected deposit, there may be a valid argument of good faith. However, once the bank notifies you of the error, you are legally obliged to return the funds. Retaining the amount after demand could expose you to civil liability and, in some cases, criminal implications under Article 315 of the Revised Penal Code on estafa, particularly if there is continued refusal to return despite knowledge of the bank error.

b.) The blocking of your Bank Verification Number (BVN) or watchlisting may be the bank’s internal compliance measure to mitigate loss and trace fund movements. While there may not yet be a court case filed, this step may severely affect your financial credibility and access to banking services.

c.) To resolve this, you may formally communicate with the bank, express your willingness to settle the amount withdrawn in good faith, and propose a repayment plan if full restitution is not immediately feasible. This can be formalized through a written undertaking or amicable settlement, which we can help you prepare to prevent further legal escalation and assist in unblocking your banking privileges.

d.) If the bank refuses to lift the restrictions even after your willingness to return the amount, you may consider legal remedies such as filing a complaint before the Bangko Sentral ng Pilipinas (BSP) for abusive banking practices or filing for judicial relief if there is reputational or financial harm arising from prolonged restrictions without due process.

We highly recommend that you hire us so we can directly communicate with the bank on your behalf, protect your legal interests, and negotiate an amicable settlement or defense if legal action is already contemplated.

We can schedule an initial consultation via zoom call. Client may schedule a convenient date and time of the meeting through the below calendly link:
👉 https://calendly.com/recososalawfirm

There is a 2,000 Philippine Peso consultation fee but we will refund consultation fee when client hires us after the consultation. Alternatively, client can also call or text on the below contact number +639175046510 or email recososalawfirm@gmail.com.

We are ready to assist you in resolving this matter swiftly and legally.

Posted Tue, May 6, 2025 3:12 AM

Even though it was the bank’s error, withdrawing money that was mistakenly credited to your account—without reporting it—is legally considered a crime under Nigerian law. It's classified as:

Theft (under the Criminal Code)

Or Obtaining by false pretense (under the Advance Fee Fraud Act)

Your intent is key. Since you thought it was your expected money, that gives room to explain—but the fact you didn’t notify the bank and spent the funds is still legally risky.

✅ Steps to Resolve the Issue

1. Gather Evidence of Your Expectation

Get proof that you were expecting funds around that time (e.g. invoices, email communications, SMS, transfer alerts).

This helps show it was an honest mistake on your part, not an intentional act.

2. Visit Your Bank Immediately

Go in person to your bank and request to speak to the branch manager or compliance officer.

Explain the situation respectfully: that you believed the money was your expected inflow.

Offer to repay the money (either fully or in agreed installments).

Be calm and cooperative—it helps your case.

3. Write a Formal Letter of Explanation

State that:

You believed the funds were expected.

You were not contacted until weeks later.

You’re willing to resolve it.

Include your signature, date, and attach supporting evidence.

4. Begin Repayment (if possible)

If you have the funds, repay immediately.

If not, propose a repayment plan.

Get everything documented (official receipts, letters, agreements).

5. Ask to Be Removed from Watchlist/BVN Restriction

After showing good faith and starting resolution, formally request that your BVN and account restrictions be lifted.

The bank may need to escalate this internally, but resolution is possible if you're cooperative.

6. Consult a Lawyer

If the bank is being unresponsive or threatening legal action, get a lawyer involved quickly.

Since this falls under both criminal and civil issues, a lawyer can negotiate with the bank or help you respond to any police involvement or demand letters.

Posted Tue, May 6, 2025 7:46 AM

Call me on +234703741137 or +2348184218059 to discuss your possible legal options to resolve your Legal problems

Posted Tue, May 6, 2025 9:20 AM

Contactus via mail paulohimatt@gmail.com or call/Whatsapp 08089901606