Bank Error in My Favor, Part II
I'll be contacting them next week. For further info as to why there is ANY dilemma, from the error last year and their posted policy, once the customer leaves the premises no correction in transactions are allowed. If they had shorted me $300 and I didn't catch the error before leaving, I would have been out of luck receipt or not. The cable correction was only handled because there was proof that they made an error in their transaction with the cable company not with me.
I make a point of giving back any erroneous change errors when shopping, and I complain when the amount goes against me. It is amazing how many cases of that I find. I don't do that much shopping. Oh well, I guess my brakes will just have to hold out a little longer. The red warning light has been on for a little over 18 months now.
Later:
Money situation resolved. I recalled that the currency exchange was open on Sunday with limited hours. Since I wanted to get this over with, I called and talked to one of the owners. He thanked me for calling about the problem. Their policy goes both ways. I figured it would be heads they win and tails I lose, but since it was their error and not mine, they take the loss. I guess it is a fair policy after all (especially since it benefited me in this case). I really couldn't pin down the gain more than $200 to $400. It could have been anywhere in that range. I think what happened is that the person waiting on me (another of the business owners) read the subtotal of my purchases/bills paid as the total to return to me.
I will try to be extra watchful in the future and catch errors in either direction. I am at least a year's fees ahead (they charge 1.8%), so I guess they have earned my business for the present. Thank you all for your input. Honesty is the best policy. I guess that I'll get my brakes fixed, so that I don't cause an accident.
Happy Trivia!
6 Comments:
You do have some luck. Congratulations!
By Deunan, Jul 05 09 1:17 PM
That's great JM!
By honeybee4, Jul 05 09 3:02 PM
You can sleep but you also get to keep the money. The outcome really couldn't have been any better.
By lesley153, Jul 05 09 6:18 PM
Outstanding results! I'm amazed at the policy but I guess they make the rules so you're just the beneficiary.
I have to wonder though, what sort of "coaching and counselling" they gave their workers after your call.
Congrats, John!
By sheriffmarge, Jul 06 09 6:08 PM
I am so glad you did the right thing - and were rewarded for your honesty!
By bionic4ever, Jul 07 09 7:27 AM
Good thing you did the right thing. Here's a horrifying example of what can happen.
A relative of mine was given a second CD when she lost the original totaling $7,000. Upon discovering they had given her TWO, she tried to give one back repeatedly. Well, after 6 months she was advised to cash it in as it came due (poor advice as it turns out). She then placed it in a savings account to accrue interest. Bottom line - the bank called her in after an attorney called her accusing her of theft. When the back discovered the attorney never sent any letters, and, didn't show up at the meeting, they apologized since she has high blood pressure, health problems, old, etc. It helped that she did not use the money, but once she cashed in the CDs (Certificate of Deposit) it became embezzlement no matter who was at fault. The bank asked her to sign a statement she would not sue them, and they let her keep any interest and did not prosecute.
Bottom line is, it's always a good idea to be honest and return monies one does not really own.
Well done Mr. Elston.
June (Jar)
By Jar, Sep 07 09 3:59 PM