With wallets being squeezed and the cost of living rising, the idea of a random multimillion-dollar deposit could feel like winning the lottery.

That’s what happened to TikTok user @shawnainchapterland, who went viral after saying that Fidelity Investments mistakenly wired a whopping $8.7 million into her account.

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According to a recent Newsweek article, she says she immediately called the company to report the error, sparking waves of comments from users who said they wouldn’t have said a peep (1).

In the viral TikTok, @shawnainchapterland said that informing Fidelity about the mistake was her “biggest regret.” “I could be watching this mess from a beach in the Seychelles right now,” @shawnainchapterland said in her TikTok caption (2).

But while the idea of suddenly getting to keep millions of dollars may feel like a dream scenario, the reality is far less glamorous. Here’s what would’ve happened if she spent the money.

Unlike lottery winnings, a mistaken deposit isn’t yours to keep.

Keeping money sent to you by mistake typically falls under a legal doctrine called unjust enrichment. This means that if you receive money in error, you have to return it because keeping it would be at the sender’s expense (3).

Even if you weren’t the cause for the mistake, or didn’t realize it at first, if you spend the money in your account, things can escalate.

According to the Consumer Financial Protection Bureau (CFPB), if a deposit is credited to your account by mistake, your bank or credit union can remove it once the error is discovered, and they don’t need your permission (4).

How mistaken transfers get taken back all depends on how the money was sent in the first place:

ACH transfer (Automated Clearing House): A formal refund process for correcting mistaken federal payments (5).

Wire transfer: Governed by Uniform Commercial Code (UCC) Article 4A. The sender has the right to recover mistaken payments (6).

Brokerage error: Firms can correct errors and pursue restitution claims (7).

But what if you’ve already spent the money?

The situation can escalate just like any other unpaid debt. Depending on state law and the specific circumstances, a bank could freeze your account, file a lawsuit to get the funds back, garnish your wages or report unpaid debt to credit bureaus which could impact your credit score (8).

If prosecutors think that someone knowingly kept and used money they knew wasn’t theirs, criminal charges under state theft or fraud laws could be the next step.

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Real-world cases show how serious it can get.

In 2020, Citibank made a massive mistake when, acting as Revlon’s loan agent, they wired nearly $900 million to the cosmetic company's lenders (9). When some asset managers refused to return their portion of the mistaken funds, it turned into a Wall Street horror story about wire-transfer blunders.

There was also a Louisiana woman who allegedly went on a $1 million spending spree after money was mistakenly deposited into her account (10). According to The Guardian, brokerage firm Charles Schwab claims Kelyn Spadoni refused to return the money that was deposited in error, and ignored their attempts to reach out to her. Spadoni was arrested for theft, bank fraud and illegal transmission of monetary funds.

According to Experian, here’s what to do if a surprise deposit lands in your account (11):

Do not spend it or transfer it

Let your bank know immediately

Document everything in writing

Keep an eye on your account

When budgets feel tight for everyday Americans, it’s easy to see why the idea of “beating the system” hits a nerve. Research from the Pew Research Center shows that public opinions about banks and financial institutions are mostly negative (12).

So when comment sections are flooded with people saying they would spend the mistaken money, it could be a reflection of wishful thinking and frustration instead of realistic advice.

A mistaken deposit isn’t a financial windfall like winning the lottery, it’s just that: a mistake.

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We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.

Newsweek (1); @shawnainchapterland (2); Cornell Law School (3); Consumer Financial Protection Bureau (4, 8); The Federal Reserve (5, 6); SECLaw.com (7); Reuters (9); The Guardian (10); Experian (11); Pew Research Center (12)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.