July 1st, 2005
Sometime in the last 3 hours, the bank finally got their act together and put the missing $600 back in the account. Of course, they list it as a "miscellaneous credit" and still list the check as the wrong amount. I don't particularly care for showing it that way, but as long as the balance is right I guess it's not worth worrying about.
To me, a bank is all about trust. There are things that can go wrong that aren't the bank's fault - for instance, if someone steals/guesses your check card number and uses it fraudulently. But, then, there are things that I think are the bank's fault, such as processing a check for the wrong amount. Once a bank violates that trust (aka "screws up"), I don't know that I want to trust them with my finances any longer. I've had a checking account somewhere for 11 years now, and this is the first time that I've had an issue like this.
When I called back this morning, I just wanted them to tell me when the error would be fixed. I figured such a date would be perhaps two to three weeks into the future. The CSA couldn't give me a date at all, meaning that a problem such as this - completely the bank's fault - would hold up my money potentially indefinitely. It's also an interest-bearing account, so I did lose a few days of interest on that $600 as well. The credit didn't adjust for that, so I've lost a few pennies on this event right now.
Is moving to a new bank for my checking needs over-reacting?
Current Mood: curious
|Date:||July 1st, 2005 07:05 pm (UTC)|| |
Hmm, I'm guessing that they credited you because it was their mess-up, and like you say, you should have been earning interest on that money, and what if you wanted/needed it over the holiday weekend. At least for now you've got the funds back in there and earning interest. Like they say, the squeaky wheel gets greased.
I am guessing that they will continue to work on straightening out the real mess, and eventually it will all be put back right. Don't know if they'll fix the bit of interest that you missed out on, but the check will get sorted out and they'll probably remove the 600 credit to the account when they do, balancing it out.
As far as over-reacting, I really don't know... thanks to being able to check online and catch the error (for which you get credit, not them), and the fact that nothing went through that would have overdrawn the account, it's not as big a mess as it could have been. With them crediting you the $600 before they have the check problem cleared up, I think they are trying to do as much as they can to keep you as a customer. Credit for trying... even if it took a couple tries to get them to actually do something... but like you say, banking is about trust, and the only person who can decide that for you is you.
as the other person said, the squeeky wheel gets the greese.
tell them the truth, tell them you're worried that this will happen again, and find out if they have any suggestions, or can give you any assurance that this won't happen again. don't be nasty, just be honest and open.
i don't think its grounds to change your bank, you said you've had 11 uneventful years with them, so it sounds like a pretty good record to me.
call and inquire about the lost interest too, just to find out if they even can give that back to you. they may not have a way to do it in theory. who knows.
good luck. sorry you had to go through it, but i am GLAD for you that it didn't over draw you or have any other problems, to me thats a REALLY big thing to be thankful for. (if our bank account had that happen it would be REALLY bad news!)
|Date:||July 1st, 2005 10:49 pm (UTC)|| |
I should clarify - I've only had an account with NetBank for about 5 years now. Again, a pretty good track record. But across all the accounts I've had, going back 11 years, I've never had an error like this.
I doubt any bank could give an assurance that errors like this won't happen, but I could ask them, given this occurrence, why I shouldn't close my account there. It would be interesting, at least, to find out what they'll say.
I think I do a good job of being reasonable on the phone. I probably come across as condescending, though. This morning I told the CSA, "It bothers me that I'm not getting an answer to my question (about when the money would be back), but I understand that you're doing what you can to help."
oh oh oh now i understand better.
since the electronic readers are the ones that actually "read" the check, I'd plain ask them about it. i doubt that you'll end up with this kind of error again, but it doesn't hurt to ask about the electronic reader and how it works.
lol, smart move to ask them why you shouldn't move your account. can't hurt to ask, and it might be interesting to see what they say. kindly remind them that this could have been a lot worse - you could have been out money you needed that day or it could have put you into debt or overdrawn the account. so you do have something to be thankful for, and let them know that too.
good luck, i guess at this point there isn't much else that can/could happen.