Lump Sum Approval Form story

fran38

I got a letter from my bank (who shall remain nameless) the other day informing me that my Lump Sum Approval Form has been received with the agreement that I pay 3000e off my mortgage. Now my monthly payments are reduced by about 15e. Great! Except that I never did send in a Lump Sum Approval Form never mind telling them I wish to pay 3000e into my mortgage account.
So, what to do here? Keep quiet about it? Or ring them and say this is some sort of mistake?
Opinions please...

fritzelly

Call them - could be something more nefarious or a simple mistake, either way you would still end up worse off.

And is it definitely a letter from your bank?

fran38

"And is it definitely a letter from your bank?"

Yup, it is. Ya I'll call them and suss it out.

killbillvol2

Under what circumstances would you consider 'keeping quiet about it' to be a remotely sensible option?

fran38

So just off the phone with the bank. 3000e has without doubt been debited to my mortgsge account. Its up on their system. I am baffled. I'm sure it's gonna come back and bite me in the arse some time down the road but who wouldn't take advantage in this situation?

EverythingGood

Its stealing, no? Send it back, tell them you don't want it. It ain't your money.

fran38

EverythingGood wrote: »

Its stealing, no? Send it back, tell them you don't want it. It ain't your money.

So 3k falls into your lap and you would just hand it back? Nope, thought not.

Who would know your account details. If no one, then it's not yours and at some time will return to owner

killbillvol2

fran38 wrote: »

So 3k falls into your lap and you would just hand it back? Nope, thought not.

Eh, yeah. Most people with a brain would as the mistake is going to be discovered shortly.

Sarn

fran38 wrote: »

So 3k falls into your lap and you would just hand it back? Nope, thought not.

If it was due to a bank transfer that went wrong I would. Someone is missing that money.

Jim_Hodge

fran38 wrote: »

So 3k falls into your lap and you would just hand it back? Nope, thought not.

Any honest person would.

Jim2007

fran38 wrote: »

So 3k falls into your lap and you would just hand it back? Nope, thought not.

Well you thought wrong. The majority of people would. And just in you do take it you will discover two things: first the bank will eventually discover their mistake and second the t&c you signed up to means you will have to pay it back.

Jim2007

fran38 wrote: »

So just off the phone with the bank. 3000e has without doubt been debited to my mortgsge account. Its up on their system. I am baffled. I'm sure it's gonna come back and bite me in the arse some time down the road but who wouldn't take advantage in this situation?

Probably at the end when they have to sit down and work out the final payments on the mortgage.... when you'll be hit with the interest on the under payment as well.

Cape Clear

Interesting aside to this. I went into a bank yesterday to discuss making a lump sum repayment on our mortgage to be told that a form needs to be filled out and the funds lodged to the Current account the monthly DD is drawn from. For some reason I was of the opinion that all that was required was account details for the mortgage account and I could transfer it at will. Seems a clunky way of doing what should be a relatively straight forward transaction in my view.

EverythingGood

fran38 wrote: »

So 3k falls into your lap and you would just hand it back? Nope, thought not.

Found €150 once, handed it to the local gardai st on Xmas Eve.. So, yea I would.

Eggs For Dinner

Back in the day, when a Punt could get you a pint, £2,000 arrived unexpectedly in my account. Reported it to the bank immediately and they removed it. Turned out a clerk got a digit wrong and put someone else's lodgement in to my account. It wasn't my money and the clerk may have had to cover the loss personally

mikemac2

Eggs For Dinner wrote: »

Turned out a clerk got a digit wrong and put someone else's lodgement in to my account. It wasn't my money and the clerk may have had to cover the loss personally

Get a large transaction wrong and it could be a lifetime as a slave. Maybe their family too :pac:

They wouldn’t happen. Mistakes happen every day and why they have operational risk departments. The bank employee could be disciplined sure but they wouldn’t be paying for it out of their salary

fran38

So I done the mighty deed. Got onto the bank to notify them of the mistake someone obviously made. I can hear the trumpets sounding in the heavens because of my unfathomable kindness, the little bunnies are prancing in the buttercup fields with unbridled joy lol......
It looks lime a digit was entered wrongly like some of you said. Anyway, I saw the light. Hopefully the sum of money can find its way back to its rightful owner.