Account Holder Receives EUR 30,000 by Mistake Skip to content

Account Holder Receives EUR 30,000 by Mistake

A customer of Glitnir Bank in Iceland, Jon Olav Fivelstad, received a transfer of EUR 30,000 (USD 39,000) into his company’s account in early October by mistake. According to the transfer, Fivelstad’s company, Kvasir, was also the payer.

“I thought it was very strange and contacted my service representative at Glitnir to inform him that I had not deposited these euros and that they didn’t belong to me. He could not explain how this had happened but reversed the entry,” Fivelstad told Morgunbladid.

Yesterday, Morgunbladid reported on EUR 30,000 that were lost in the system and belonged to Vinnslustödin fish processing company in the Westman Islands, off Iceland’s southern coast.

“When I read the news story […] that the exact same amount was lost in the bank system, it occurred to me that the same euros which Vinnslustödin in the Westman Islands is missing after having transferred them at a similar time, in early October, could have been deposited into my account,” Fivelstad said.

Fivelstad wonders what happened to the money after the entry was reversed since the bank didn’t know where they came from.

“I therefore emailed that same service representative last week and asked for an explanation, but […] he said that it had been a false entry which had now been corrected,” Fivelstad explained. “The bank has had four weeks to find out where this false entry came from, but doesn’t seem to be able to figure it out.”

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