I Wonder How Long Gulliver Will...
Politics1 min ago
Unknown Bank Payment
Hi everyone.
I have credit card debt with a bank and had been paying back each month. Much to my surprise I recently received a statement saying it was all paid. I can't seem to trace the payment back to a family member or, in fact, anyone. That info isn't given on the statement. Now that huge pain is paid I'm very happy but was wondering about the legality of this. Am I okay to close my account now it is all paid? Or if this is a mistake are the bank entitled to take it back and ask for back payments? If I now ask to close this paid account, are the bank likely to ask me where this unusually large payment came from? Any help appreciated�
Thanks.
I have credit card debt with a bank and had been paying back each month. Much to my surprise I recently received a statement saying it was all paid. I can't seem to trace the payment back to a family member or, in fact, anyone. That info isn't given on the statement. Now that huge pain is paid I'm very happy but was wondering about the legality of this. Am I okay to close my account now it is all paid? Or if this is a mistake are the bank entitled to take it back and ask for back payments? If I now ask to close this paid account, are the bank likely to ask me where this unusually large payment came from? Any help appreciated�
Thanks.
Answers
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Honesty is always the best policy.
Tell your bank your account is cleared, you may have had it paid for by a family member, but can't honestly recall.
Ask them to check that everything is OK, and on confirmation, close your account if you wish.
One thing is for sure - if the account is not paid, or has been paid by improper means, the bank will find out, so you need to get them on your side from the start.
This kind of thing happens more often than yiou would think, loads of people are lousy at managing their finaces, so they won;t be too upset at your query.
However, treating them as fools, which they are patently lot, means potential co-operation and understanding evaporates very quickly.
Have a chat - sort it out, you'll be glad you did.
Tell your bank your account is cleared, you may have had it paid for by a family member, but can't honestly recall.
Ask them to check that everything is OK, and on confirmation, close your account if you wish.
One thing is for sure - if the account is not paid, or has been paid by improper means, the bank will find out, so you need to get them on your side from the start.
This kind of thing happens more often than yiou would think, loads of people are lousy at managing their finaces, so they won;t be too upset at your query.
However, treating them as fools, which they are patently lot, means potential co-operation and understanding evaporates very quickly.
Have a chat - sort it out, you'll be glad you did.
If the payment is unusual (and you obviously think it is) then it is incumbent on you to bring it to the attention of the bank. If they persist in saying it is yours just relax for now in the knowledge that interest charges are reduced. But eventually the rightful owner will demand the money and the error will be traced. Just stick to your guns re the interest if the bank demands you pay interest in full as if it never happened.
Dont know your job .
I Maybe have been watching to much TV recently.
Could someone be buying services recently.
Police and Civil servants are warned to watch for this kind of situation happening.
I work for a local authority and anything like this could happen to anyone and we are asked to Report it.
Okay sounds like a winfall... Could be something that comes back to bite maybe not now but at a later date.
This could be Rubbish ...But as i say dont know your Job.
I Maybe have been watching to much TV recently.
Could someone be buying services recently.
Police and Civil servants are warned to watch for this kind of situation happening.
I work for a local authority and anything like this could happen to anyone and we are asked to Report it.
Okay sounds like a winfall... Could be something that comes back to bite maybe not now but at a later date.
This could be Rubbish ...But as i say dont know your Job.
Honesty is always the best policy � being of dubious honesty (if this happened to me) I would do nothing.
If at some later date the bank discovers its error, they would be very unlikely to enforce any additional interest payments. I could prove that according to them the loan had been paid in full � they would be more than happy just to get their money back (without interest).
Once 6 years has passed, they then will have no legal right to claim the money back.
If at some later date the bank discovers its error, they would be very unlikely to enforce any additional interest payments. I could prove that according to them the loan had been paid in full � they would be more than happy just to get their money back (without interest).
Once 6 years has passed, they then will have no legal right to claim the money back.
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