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Internet banking stuff up, is this normal?!


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18 replies to this topic

#1 EssentialBludger

Posted 04 February 2013 - 03:26 PM

I had some money returned that I had deposited into someone's account a week ago. I must have put the BSB in wrong as the acc number was definitely right.

Anyway, my effing bank charged me a $10 fee for returning it!! Is this normal?! It seems like such a huge fee to me for such a common error.



#2 crayons

Posted 04 February 2013 - 03:29 PM

I would say it's normal seems like a small bank fee to me most fees for errors are around $30 I thought. I'm also amazed you got it back generally a mistake like that and the money just disappears. I think you got off lightly.

#3 EssentialBludger

Posted 04 February 2013 - 03:34 PM

The amount transferred was $4.80, so yeah, I'd have preferred if it just went missing!

#4 Oriental lily

Posted 04 February 2013 - 03:34 PM

I did something like that years ago.
The commenwealth bank sort of said  tough luck. Your error, we will try and retrieve it but it will be a fee if they can retrieve it.

Luckily they did but because the money did not automatically bounce back the fee was more substantial then 10 dollars.

I was just relieved to get any of it back and it really put me of direct deposits for ages.

#5 crayons

Posted 04 February 2013 - 03:37 PM

oh bother that's annoying that it was more than the amount transferred did they not tell you about the fee before they went looking for the money? If they didn't maybe you could ask them to wave it this time?

Edited by sparklyredfish, 04 February 2013 - 03:38 PM.


#6 laridae

Posted 04 February 2013 - 03:42 PM

Yes, normal unfortunately.  I don;'t think my current bank does (NAB), but I know the CBA did.
I'm assuming because it came back automatically as it wasn't actually a valid account number/BSB combination?

#7 solongsuckers

Posted 04 February 2013 - 06:05 PM

Try complaining and they might reverse it. You never know. I've had overdrawn fees waived before for no reason when I have mentioned them

#8 Nicole-Bris

Posted 04 February 2013 - 06:09 PM

I did this a couple of weeks ago.  The money was returned and no fee was taken.

#9 Jax12

Posted 04 February 2013 - 06:18 PM

I have incorrectly entered an account number and the money came back to me - no fee was charged.  

Do they really have to "go looking" for money when the account information is wrong?  Wouldn't the transaction fail and automatically bounce back?  That's how my totally unknowledgeable brain figures it wink.gif

#10 cinderellainsydney

Posted 04 February 2013 - 06:29 PM

My current bank does not. And if they had a policy like that, the bank manager could always waive the fee in such circumstances...especially if you had a mortgage, credit card or insurance or other products with them. Some banks may also waive if you have a concession card such as student, pensioner.

Everything happens electronically, so there is very little admin work. Money sent, the accepting bank advises sorry info doesnt match, money bounces back into senders account. What exactly are they charging you for? Are they reimbursing themselves for a fee charged by the other bank?

Ask if you can get the fee waived under the circumstances.

#11 *melrose*

Posted 04 February 2013 - 07:25 PM

Arghh that sounds insane...
money hungry pigs.

#12 FeralDancesHere

Posted 04 February 2013 - 08:30 PM

The bank I used to work for would (sometimes) charge a fee if we had to process a request to recover the money. If it bounced automatically no fee applied.



#13 ~*Amethyst*~

Posted 04 February 2013 - 08:32 PM

QUOTE
Arghh that sounds insane...
money hungry pigs.

yyes.gif


I have done this many times over the years with Internet transactions & have never been charged a fee. If I were I would ring & ask for it to be reversed.

XxxAmethyst


#14 Jembo

Posted 04 February 2013 - 08:36 PM

Also never been charged a fee and done it many times.

#15 Therese

Posted 04 February 2013 - 08:40 PM

I would ring and ask for it to be reversed too.

#16 Julie3Girls

Posted 04 February 2013 - 08:42 PM

QUOTE
Do they really have to "go looking" for money when the account information is wrong? Wouldn't the transaction fail and automatically bounce back? That's how my totally unknowledgeable brain figures it

If the BSB/account no doesn't match up to a valid account, then yes, it will normally just bounce back no problem.

But if you happen to hit a bsb/account combination that is a valid account (just not the right one), then the transaction will go through and you did to apply to get the money back.  The bank doesn't know that it wasn't the right account - the computer simply processes the numbers you give it.

#17 -Emissary-

Posted 04 February 2013 - 09:12 PM

I did that once. I accidentally entered two numbers back to forth. Unfortunately, it was for $150 so I had to call up and request a recall. I was told it will cost me $10.

Fortunately, my bank waived the fee.

QUOTE
Do they really have to "go looking" for money when the account information is wrong? Wouldn't the transaction fail and automatically bounce back? That's how my totally unknowledgeable brain figures it


Yes, they trace it to see if it hit an open account. However, they don't have permission to just take it out of someone's bank account and reverse it. When you entered the number, you tick the box or hit accept that you are happy with the details therefore it would be entirely your fault if you have entered the wrong number.

The bank can only call up the other account holder or and ask for the money back. From my understanding, the other account holder can actually refuse as you accepted/you've ticked the box that said you checked the details etc. If you bank with another bank to the other account holder then your bank will have to call up the other bank and the other bank have to contact the account holder.

It's different to when a bank makes a mistake and dump $10 million in your account.  biggrin.gif

Edited by -Emissary-, 04 February 2013 - 09:14 PM.


#18 FeralDancesHere

Posted 04 February 2013 - 09:31 PM

QUOTE (-Emissary- @ 04/02/2013, 10:12 PM) <{POST_SNAPBACK}>
From my understanding, the other account holder can actually refuse as you accepted/you've ticked the box that said you checked the details etc.


This is correct. They can refuse or just ignore the request and it then becomes a civil matter.

I'm not meaning to be rude but what was the description of the fee? Is there any chance it was for something else?

We would often get calls from people about fees at the start of the month because people would assume a fee was for something they did that day, when it was in fact a fee that was charged at the end of the month and they had forgotten about it.

Regardless call and see if it can be waived.

#19 MuppetGirl

Posted 04 February 2013 - 09:37 PM

Definitely call them and question it firmly. Major banks have fees for absolutely everything and they are rather exhorbitant fees. Usually just questioning it gets it returned pretty quickly.




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