Cash Surprise - payment credited twice
Thread poster: Hermann

Hermann  Identity Verified
Local time: 01:58
English to German
+ ...
Oct 19, 2005

Last month I had a call from my Bank Manager telling me I have received a payment twice by mistake. It turned out to be quite a large amount. He offered straight away to return the overpayment and said the bank would charge ME £25.00 for the favour which I could reclaim later from my client. I told him I would first contact my client and clarify the situation and pay them back using a cheaper method. I did so immediately but a month passed before I was contacted by my client's accountant.

The accountant informed me that several such double payments went out of their account recently but that their Bank has since returned the money to them. This Bank has asked my client now for my contact details to get their money back from me.

A weird aspect of this whole thing is that both payments are shown as international payments, although this client is based here in the UK and all previous payments were BACS payments originating from an UK account. Could it be a genuine mistake or a nifty scam by some insiders?

I must admit I take a certain pleasure thinking of a Bank being caught out like this, but at the same time I am wondering how to deal with it now. Should I deduct a fee for my troubles or hand it all back to them? I know my Bank will certainly charge the usual transaction fee.

Awaiting your no doubt inspiring comments

Norbert (Hermann)


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Kurt Porter  Identity Verified
Local time: 05:58
Russian to English
+ ...
I Love Banks! Oct 19, 2005

"I must admit I take a certain pleasure thinking of a Bank being caught out like this, but at the same time I am wondering how to deal with it now. Should I deduct a fee for my troubles or hand it all back to them? I know my Bank will certainly charge the usual transaction fee.

Awaiting your no doubt inspiring comments"



Not sure about the possibility of a mistake or a scam. What I would be more concerned with is making sure that I did not have to pay for someone else's mistake (transaction fee). I'd ask the client if they were willing to cover it (in writing). If not, I'd have my bank subtract the fee from the money the bank plans on returning.

Norbert (Hermann)
[/quote]

[Edited at 2005-10-19 14:04]

[Edited at 2005-10-19 14:05]


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Ken Cox  Identity Verified
Local time: 02:58
German to English
+ ...
sounds wierd Oct 19, 2005

Taken straight, this would seem to confirm what I was once told: banks aren't in business to serve their customers, but instead to exploit them.
I can't see why you should be expected to pay a transaction fee to correct an error by another party and for a transfer not made at your request.
It may not be a scam, but it has distinct earmarks of a clever way to squeeze some extra revenue out of hapless customers.


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Yolande Haneder  Identity Verified
Local time: 02:58
German to French
+ ...
2 time payment Oct 19, 2005

Kenneth Cox wrote:

Taken straight, this would seem to confirm what I was once told: banks aren't in business to serve their customers, but instead to exploit them.
I can't see why you should be expected to pay a transaction fee to correct an error by another party and for a transfer not made at your request.
It may not be a scam, but it has distinct earmarks of a clever way to squeeze some extra revenue out of hapless customers.


I had the same problem but on the other side. The bank lost one of my transaction and asked me to do it again (told me it was definitely lost).
Sometimes weeks later they did find it again, sent the money (quite a big amount) to the translator a second time without consulting me. I am still fighting to to get the money back and I will fight to get the last cent up to the transfer cost that they charged me for it too.
They accepted the mistake, though but said it takes a loong time to get the money back.


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Charlie Bavington  Identity Verified
Local time: 01:58
French to English
Can you keep it simple? Oct 19, 2005

If yours is a UK bank account, and they're in the UK, can you not just write them a cheque? Simple solution.

Let them worry about dealing with the fact that their bank has apparently already reimbursed them (if I understand you correctly) and just leave your bank out of it completely (in terms of organising a transfer in the reverse direction, blah blah blah). Just keep it as simple as possible from your side - it's Not Your Problem.

Anyway, that's what I did earlier this year when I was paid twice, I wrote a cheque and posted it (I absorbed the cost of the 2nd class stamp ). End of story as far as I'm concerned.


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Hermann  Identity Verified
Local time: 01:58
English to German
+ ...
TOPIC STARTER
I could but ... Oct 20, 2005

Can you keep it simple?


Charlie,

Yes, I could just return the money to my client by cheque or otherwise and let the client's bank sort it out with them. As it stands my client has already been reimbursed and is not crying out for it.

However, I myself was abroad when my bank manager contacted me on my mobile and it was also from my mobile and from abroad when I contacted my client to seek confirmation. Ok, this doesn't add up to much.

But when considering how banks operate (I am sure we could all share a few stories on this subject) and the offer by my bank to return the money for a fee of ‘ONLY £25.00’ (because both payments entered my account by some accident through international channels and whenever a transaction is shown as INTL they are more than happy to slap on a hefty charge) I feel it would be justified to seek compensation for the hassle and expenses I incurred.

I think this would only be fair under the circumstances. Or does anyone feel differently?


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Jo Macdonald  Identity Verified
Spain
Local time: 02:58
Member (2005)
Italian to English
+ ...
Hi Hernan, I agree with Kurt Oct 21, 2005

It shouldn't cost you anything. No way 25 quid. But if you already found a way to send the money back without expenses, asking for compensation sounds a bit like suing the old lady for denting your car after you ran her down as she trundled herself over the pedestrian crossing on the way to the shops.
You can do it, and get paid, but it won't make you popular with old-age pensioners.

Mac


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Hermann  Identity Verified
Local time: 01:58
English to German
+ ...
TOPIC STARTER
You'd be surprised Oct 21, 2005

Jo Macdonald wrote:

It shouldn't cost you anything.


Yolande wrote:

I had the same problem but on the other side. The bank lost one of my transaction and asked me to do it again (told me it was definitely lost).
Sometimes weeks later they did find it again, sent the money (quite a big amount) to the translator a second time without consulting me. I am still fighting to to get the money back and I will fight to get the last cent up to the transfer cost that they charged me for it too.
They accepted the mistake, though but said it takes a loong time to get the money back.


Jo,

The total fee for these transactions in the form of international payments is not small. I will again be charged (this time only a small amount) for returning the money to the bank that made the mistake. I and many others use other ways to make international payments just to avoid these high charges.

And banks are not old-age pensioners. They make huge profits, sometimes on the backs of pensioners. And sometimes they treat you like in Yolande's case.

I have now agreed with them to retain the transaction costs - end of story.


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Jo Macdonald  Identity Verified
Spain
Local time: 02:58
Member (2005)
Italian to English
+ ...
Sounds like you got it sorted Oct 21, 2005

Hermann wrote:
I have now agreed with them to retain the transaction costs - end of story.



Btw I agree, banks are not lil'old ladies


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