230k Disappear from Man’s Account, Bank Has No Explanation


From NetEase:

City Resident’s Card Had over 230,000 RMB, Only 0.21 RMB Left; Bank’s Response: We Can’t Explain

Mr. Zhang, who came from Henan to Changchun to work, toiled for over five years and saved 230,000 RMB, which he deposited in a rarely used bank card. But an uncle in his hometown got seriously ill, and when Mr. Zhang went to withdraw money to help, he discovered that his savings had vanished without a trace. Now there’s only 0.21 RMB left on the card.

“Where did my money go?” Mr. Zhang wants to ask what really happened, but till now the bank hasn’t determined how this money disappeared.

The 29-year-old Zhang came from Henan to Changchun over five years ago to work. His job is doing after-sales service in Changchun for a Shenzhen company. He spends most of the year on the road. He labored to amass over 200,000 RMB in savings.

Mr. Zhang’s parents are home working the land, unable to make much money, so the whole family’s expenses fall primarily on him. “My family’s circumstances aren’t good, so I’m going to have to depend on myself to find a wife, too.” For dependability, Mr. Zhang deliberately put his money on a rarely used bank card with a chip. He got the card in 2013 September.

On 2014 November 4, Mr. Zhang deposited 230,000 RMB into this card. On 2014 November 19, Mr. Zhang set up online banking service at the bank’s service counter. Afterwards, he made one transfer on his own computer. After the transfer succeeded, he once again transferred the money back into his own account. After this, he didn’t use the card again.

On the morning of 2014 December 2, the unexpected happened. Mr. Zhang’s uncle got a bone marrow tumor and went into surgery in Zhengzhou. Mr. Zhang prepared to send his uncle money. Mr. Zhang said he logged in to online banking and was dumbstruck. “My money is gone! Only 21 cents are left!” Reviewing the transaction details, he discovered that starting on November 24, there was an anomaly with his card, but he had never lost his card and authenticator.

How is there no money?

By checking online banking, he was able to see the card’s cash transactions. From 2013 September to 2014 November, the bank card’s balance was around 1000 RMB. All deposits and withdrawals were done at the service counter or at ATMs. That is until he deposited 230,000 RMB, at which point the money became “unsettled.”

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On 2014 November 30, two unusual large transactions appeared, each transferring out 50,000 RMB. The transaction channel was “current account transfer”; the transactor showed 9999.

On 2014 December 1, two more transfers happened in the same way. One was 100,000 RMB, and the other was 29,583 RMB. The transactor once again showed 9999. At this point, only 0.21 RMB remained of the over 230,000 RMB originally in Mr. Zhang’s account.

Mr. Zhang said that the reason he put the money into this card was to avoid this sort of problem. Moreover, after depositing the 230,000 RMB, he never used the card at an ATM, and when he enabled online banking it was done at the service counter. In principle there shouldn’t have been any problem. He regrets that at the time he didn’t also enable the SMS notification service.

How can he get the money back?

Bank: Unable to explain

Recently, Mr. Zhang has come to the bank many times, but the bank’s employees can’t say for sure what happened with those large transactions.

Yesterday morning, this New Culture reporter went to the branch where Mr. Zhang opened his account. A staff member stated that Mr. Zhang had already come to negotiate this situation, and that furthermore, since Mr. Zhang had already gone to the police the bank was unable to provide further explanation.

This New Culture reporter found out that at this bank’s other locations, situations in which the transactor shows up as 9999 might be online transactions or service-counter transactions.

A bank employee stated that transactions that show up as 9999 are usually the bank’s internal, automatic transactions. This sort of large transaction only goes through the bank’s major clearing centers and not necessarily through the smaller branches’ service windows. Because of this, it doesn’t show up at service windows. Additionally, it could be gold, oil, or other online transactions. When you trade these commodities you have to pay a deposit that’s deducted from the cash on the card.

The bank employee stated that there’s no particularly good way to prevent this sort of situation from happening. He can only remind everyone to avoid depositing money on cards with online banking enabled or to deposit money on an as-needed basis.

The police filed a case, 500 RMB has already been returned

On 2014 December 9, Mr. Zhang went to the police, who opened a case. The police contacted Beijing Bangfutong Science and Technology Limited Company, which responded that if it was discovered that the transaction wasn’t done by Mr. Zhang, they would return the 500 RMB to him.

The police investigation confirmed that it wasn’t Mr. Zhang’s transaction. On 2014 December 24, Beijing Bangfutong Science and Technology Limited Company returned 500 RMB to Mr. Zhang’s card.

Comments from NetEase:

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北韩量子计算机中心工程师 [网易香港网友]:

A bank employee stated that transactions that show up as 9999 are usually the bank’s internal, automatic transactions.

leo萨迦 [网易河北省石家庄市网友]:

“The police filed a case, 500 RMB has already been returned”. Everyone is rejoicing at this news. The rabble are running around spreading the news.

zmpsports [网易广东省广州市网友]:

The bank has to compensate [him].

网易广东省东莞市网友 ip:121.12.*.*

The bank is great, the bank is clever, the bank is making a lot of noise [the original Chinese rhymes]

秋风之枫 [网易广东省茂名市手机网友]:

An insider without a doubt [suggesting someone in the bank is responsible]

网易天津市宝坻区网友 ip:117.15.*.*

Ganging up to con the common man! These people are bad to the core!

网易广东省中山市网友 ip:14.115.*.*

They only dare to publish this sort of news in the middle of the night.

网易北京市网友 ip:114.111.*.*

There really is hope now.

唱支山歌给狼听 [网易湖北省恩施州网友]:

Luxury cars with four wheels turning, inside are all corrupt vermin,
Shoot first then sentence, not one misrepresented!

[Note: The above Chinese comment was written in verse with end rhyme]

511192046 [网易江苏省苏州市网友]:

On 2015 January 1 at 1:43 I checked. My money is still there.

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  • monster

    should open phone bank and use passwords receiver at the same time.
    even we play lottery online all the time, this website never make any mistakes of our money.
    bank should be punished.
    my credit is too good, bank always calls to borrow me money.

    • mr.wiener

      Good for you, all my money is in real estate.

      • monster

        o ,i am so poor, only 1000 in my account.
        so sad!

        no wonder get bit by snob dog often.
        i am a poor village girl so sad!

        • Irvin

          Only 1000? Have you consider a boob job?

          • Captain Woot and the Teehee’ss

            Why would she want two of you hanging off her chest?

  • mr.wiener

    “Bank cannot explain”…They are still liable aren’t they?

    • Surfeit

      Not in China, actually. Which is a bit weird isn’t it.

    • Free Man

      There is liability in China?

    • Ken Morgan

      Not if your name is Jon Corzine!

    • A Gawd Dang Mongolian

      What’s this ‘liability’?

      Is that some kind of kickback bonus?

    • 山炮 ShanPao

      When you’re the one doing the pointing, probably, there’s no-one looking at you.

      That’s all I’ll say.

    • Dr Sun


  • Luke the Duke

    ‘An insider without a doubt [suggesting someone in the bank is responsible]’

    Good job you added those square brackets or I’d never have got it.

    • 宋易

      chinasmack often overexplains some things, underexplains others.

  • 宋易

    Well, at least he got 1/460th of his money back.

  • Dr Sun

    I guess the bank managers daughter needed a new

    • Irvin

      nope! chinese don’t care about daughters, it’s the mistress.

      • Dr Sun

        Pre-1980 that may have been true, but a daughter now is a rare commodity, that can accumulate many relationships, cars, houses and fortunes for the family, way more than a son can.

        • Irvin

          Exactly, somebody’s daughter is accumulating the bank manager’s fortune.

      • Joey

        plot twist: the daughter is the mistress

    • Dax

      Well, can you imagine how embarrassing it would be if her purse wasnt as nice as her boyfriend’s?

  • Surfeit

    I thought this happened quite frequently in China. Remember that guy in SH/GZ?

  • James

    always keep your paper documentations

  • Mighty曹

    Consider the recovered 500RMB as interest paid. 0.217% is better than 0.00%.

  • Spartacus

    Some say these deposits are being used by the government to prevent the housing market from tanking. China’s economy is tanking and its gonna get bad.

  • FYIADragoon

    It was an inside job. The original article doesn’t mention which bank it was anywhere in it. If there’s a need to cover up the name, the bank is obviously doing something illegal and is most likely one of those local banks, instead of a big 4 outfit.

  • David

    “The bank employee stated that there’s no particularly good way to
    prevent this sort of situation from happening. He can only remind
    everyone to avoid depositing money on cards with online banking enabled
    or to deposit money on an as-needed basis.”

    So the bank employee is telling people that this will happen again and again and you should not put your money in your account until your about to spend it? Ummm do they want people to just put their money under the mattress? China, I know you like the ‘cash economy’ but if you are going to keep this up at least start making a 1000 Yuan note. I mean come on,

    • Amused

      Hey, don’t knock 5,000 years of civilized business practices…

  • post.human

    I hate banks and bankers. Bankers are the new lawyers.

  • Luke the Duke
  • Krone

    Such a thing is throughly ridiculous, banks keep records of every transaction with specific details of what account it was used for. The “9999” explanation is total bullshit.