General Question

RedDeerGuy1's avatar

Please answer my question about bank errors?

Asked by RedDeerGuy1 (21414points) 2 weeks ago
15 responses
“Great Question” (2points)

If you go to at teller in your bank and there is an error in a bill payment where money goes into the wrong account? Is the bank liable if the money can not be recovered, say a $100 payment to a wrong account that doesn’t give refunds, ie an internet provider.

What do you do?

Other than to get the manager?

Internet service providers that I have been a customer for don’t give refunds for overpayments. They only give credits, even if you disconnect the service.

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Smashley's avatar

Technically speaking, you didn’t lose money, unless by some coincidence, you were planning on changing ISPs already, you payed ahead. I’m very sorry if that screws you over this month, Since banks give receipts for transactions, I suspect somewhere in your fine print it says something about it being your responsibility to make sure things are correct. Indeed, if you had inspected the record of your deposit, it should have been apparent.

And… I’m confused about the nature of the account… it’s your account at your bank, but your ISP has 100% control of funds deposited? That makes no sense to me.

RedDeerGuy1's avatar

@Smashley That’s what the bank and the ISP provider said to me.
” We don’t rememburse for overpayments only give credit.”

The bank teller just said sorry and didn’t resolve the issue.

It’s probably in the tos terms of service agreement that I signed with the credit union and both ISP.

elbanditoroso's avatar

Well, in Monopoly, you collect $100 (Bank Error in your Favor).

If the ISP put money in the wrong account, your local bank has no role in fixing the problem. They didn’t do the transaction, and they aren’t the ISP.

About the only recourse you would have is if you paid by credit card (sounds like you didn’t) – in which case you could dispute the charge.

Smashley's avatar

But but..l if it’s your account, can’t you just withdraw the balance? Even if your account is for automatic bill paying, it should still be there until someone gives you an actual bill for services. I’ve never heard of an irretrievable money hole account like you’re describing,

RedDeerGuy1's avatar

@elbanditoroso It hasn’t happened yet, but a similar situation happened in my previous question in overpayment.
What I should do in the next situation is to eat the $100 loss because my user agreement is in favor to the bank and both ISP’s.

It’s happened in my previous question on the tag overpayment in this questions topics.

When the first time that It happened I felt stupid. Next time I won’t make a fuss over $100 and let it go, seeing all bank and ISP customer service agreement most likely guarantees that they are blameless.

I have to learn to let go in no win situations. Maybe I could be higher functioning adult if I learned how to pick my battles.

tedibear's avatar

I’m confused. Did you make the payment at the bank for your ISP with a bank teller? Or did you use online bill pay?

RedDeerGuy1's avatar

@tedibear Bank teller in another timeline. Also another time I made $100 payments a month on a $80 monthly bill to the isp. For a year. I called them and they said that I overpaid $500, and that they won’t refund the money, but can use as a credit.

I didn’t make a payment through my online account because I’m refusing to hook up my factory reset computer. It’s for my education, and not for porn. When I actually sign up for a class then I will activate my computer.

I did not pay this month because I’m sure that I have another huge credit with them again.

tedibear's avatar

@RedDeerGuy1, thank you for the clarification. At least now you know to watch the bill and pay the right amount. :) Kind of an expensive lesson, though.

Dutchess_III's avatar

Wait…. How did you make an over payment to the wrong company to begin with?
Also, if it’s applied as a credit to whatever account, you have not “lost” the money.

janbb's avatar

I don’t understand what went down either.

smudges's avatar

I passed on trying to figure out this one; makes no sense to me. Plus, apparently it’s a question from a while back combined with a current one.

RedDeerGuy1's avatar

@Dutchess_III The teller put money into an account for an ISP that I no longer use. Instead of one that I do use. The second ISP doesn’t give refunds even for overpayments. I should have removed the second ISP after I stopped using it.

Update Next time that I go to my bank I will remove the defunct online payment account for the second ISP, before paying another bill.

Dutchess_III's avatar

What is an ISP?

Dutchess_III's avatar

Also, how do you direct her where to put the money? Do you give her the specific account number? If so, and she put it in the wrong account, I’d say the bank owes you $100.

RedDeerGuy1's avatar

@Dutchess_III ISP is internet service provider. It was deposited by business name from a list of approved payees. Thanks for the support.

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