Is an unexpected refund that appeared in my bank account a scam?
It could be. Unexpected deposits are a hallmark of the overpayment scam, where the money will later be reclaimed — leaving you out of pocket if you spent it or sent any of it back.
Last reviewed: 10 June 2026
Explanation
In the classic overpayment scam, a stranger contacts you — often posing as a buyer of something you listed for sale, or as someone who made a payment error — and says they accidentally sent you too much money. They ask you to keep a portion and send the rest back. The original deposit often comes via a cheque, which appears in your account before clearing. When the cheque bounces days later, the bank reverses the funds, but any real money you sent back is gone.
A related version involves criminals who have compromised another person's account sending funds to yours as part of a money laundering chain. You are then asked by a stranger to forward the money on. This makes you a money mule and can lead to account freezing and criminal investigation, even if you had no knowledge of the crime.
A third scenario is pure error — real overpayments do happen — but the safe response is the same: do not spend the money, do not send any of it back without speaking to your bank first, and contact the sending institution through official channels to understand the source.
If you receive an unexpected deposit, call your bank directly using the number on the back of your card. Never use contact details provided by the person who told you about the deposit.
Common red flags
- Someone contacts you claiming to have sent you money by mistake
- The deposit arrived via a cheque or money order rather than a bank transfer
- You are asked to send a portion of the money back, often to a different account
- You are asked to convert the funds to gift cards or cryptocurrency before sending
- The sender is a stranger or someone you met recently online
- The amount deposited is suspiciously round or large
What to do now
- Do not spend the money and do not send any of it to anyone
- Call your bank directly using the number on your card to report the unexpected deposit
- Ask your bank to place a hold on the funds until their origin is confirmed
- Do not use contact details or account numbers provided by the person who told you about the deposit
- If the person is pressuring you, block them and report to your national fraud line
- Keep records of all communications about the deposit
Frequently asked questions
What if the bank says the money is mine to keep?
Banks can still reverse funds after telling you they have cleared if a fraud claim comes in later. Do not treat unexpected money as yours until your bank explicitly confirms in writing that it is.
Can I get in trouble if I spent the money accidentally?
You may be required to repay the amount even if you spent it in good faith. This is why keeping the funds untouched pending bank confirmation is the safest approach.