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Friday, April 2, 2010

A millionaire for 1 day


I was lucky enough to have a friend who became a millionaire just for 1 day and I'm sure he wont forget this for the rest of his life.

When my friend Tony checked his ATM bank account he had a happy surprise. His balance had exploded to P5,000,000. This happened way back almost 5 years ago.

He called the Bank the next day just to report on what happened to his ATM bank account.
The balance was a technical error by the Bank which was quickly fixed.

The day when he check his ATM. A 5 million pesos balance appeared. He knew he has only a mere 5 thousand pesos.
For the past 24 hrs before he called the bank he was thinking of withdrawing the amount, but he knew it would not be easy for him to do that except for a maximum of P20,000. Because it was a maximum ATM withdrawal for 1 day.
He could not also go to the bank and withdraw 1 million pesos , face to face with the bank teller.

It made him crazy for just 1 day, thinking he was a millionaire already. He told nobody not even his wife. If only it was his money ,then he would be able to buy a new car and pay all his debts, which he told me was almost P200,000. And he would buy a car for an average of P800,000. Still he would have a balance of P4 million for a time deposit.
If he did not call the bank he could have withdrawn some money, not until the bank would discover it. But he could be arrested for it, by withdrawing more money from his original balance.

For me he was right in reporting it to the bank. He called me up after the bank fixed the error on there computer. And told me the whole story.

"It's all gone. I'm poor again," he said. "I was a millionaire for day.

This kind of bank error happens. But my friend raises an interesting question: What if, for 1 day, you truly did have P5 million. what will you do with a 5 million pesos in your situation right now?