Jump to content

Internet banking stuff up, is this normal?!


  • Please log in to reply
20 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 Cat People

Posted 04 February 2013 - 03:32 PM

I think you got off lightly too.  My bank makes a big deal out of saying the onus is on you to get the information right and no responsibility will be taken for incorrect information.  So  I guess they could not bother retrieving the money at all.  It would take them time to retrieve the money so I guess $10 sounds fair-ish.

#4 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!

#5 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.

#6 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.


#7 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?

#8 Cat People

Posted 04 February 2013 - 04:24 PM

QUOTE (EssentialBludger @ 04/02/2013, 04:34 PM) <{POST_SNAPBACK}>
The amount transferred was $4.80, so yeah, I'd have preferred if it just went missing!


That definitely sucks!  But I guess they just have a set amount they charged.  It's worth questioning it, they might let you off.


#9 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

#10 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.

#11 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

#12 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.

#13 *melrose*

Posted 04 February 2013 - 07:25 PM

Arghh that sounds insane...
money hungry pigs.

#14 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.



#15 ~*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


#16 Jembo

Posted 04 February 2013 - 08:36 PM

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

#17 Therese

Posted 04 February 2013 - 08:40 PM

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

#18 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.

#19 -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.


#20 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.

#21 MahnaMahna

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.




1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users

 

Share the little things that make you smile

We're giving away a Mountain Buggy nano, the ultimate travel stroller - and here are some of the great entries so far.

Toddler pleads for return of "stolen" nose

A two-year-old's reaction to a game of "got your nose" shows it doesn't take much to make a toddler cry.

The 15 photos new parents share (and five they don't)

From the first scan photo to the baby covered in cake at their first birthday party, there are 15 photos most parents seem to share - and some they don't.

Doctor sings first Happy Birthday to newborns

His job is to deliver babies, but this US obstetrician also has a unique way of celebrating the miracle of life.

Breastfeeding friendly café goes viral

A photo of a breastfeeding-friendly sign in a cafe has been posted to Facebook and shared by hundreds of mums around the world.

First look at the Bugaboo Bee3

The newest Bugaboo Bee ? the Bee3 ? offers a variety of improved features, including a much asked-for bassinet and a rainbow of colour combinations.

Childcare costs, not paid leave, the real issue for parents

Given the choice between maintaining their wage for six months to have a child, or having a reduced rate of pay for a time but a better deal on childcare when returning to work, there are no odds on what most working parents would choose.

Win a Mountain Buggy nano

We?re giving away the new Mountain Buggy Nano - the lightweight travel buggy! So show us the little things that make you smile for your chance to win.

We lost three babies in two years

Our first pregnancy ended the way we all expected it to - with a healthy, happy baby in our arms. What a true blessing he was, for we were not to know the heartache we were about endure.

Family turned back from doomed flight MH17

'There must have been someone watching over us and saying, 'You must not get on that flight,' says mother who narrowly avoided boarding the Malaysian Airlines flight which exploded in mid-air over the Ukraine last night.

The myths and facts about "normal" breastfeeding

When it comes to successful breastfeeding, there is a wide variety to what is "normal", according to new research.

Adorable Skeanie loafers for kids

Your little toddler or preschooler can now get their nautical on with a new range of classic loafers by Australian show brand Skeanie.

My baby is hypermobile

For months, I have been telling myself not to worry that Jasmin isn't crawling or walking. This week I heard the term hypermobile for the first time.

When you don?t bond with your baby

They say that there is no bond greater than the bond between a mother and her child. But for some women, the mother-baby bond takes more time and effort to develop.

Yumi Stynes: Having a baby after a 10-year break

After a long break, Yumi Stynes gets a reminder of the pain - and the pleasure - of giving birth.

Grieving father asks for help to Photoshop his daughter's image

When Nathan Steffel's daughter Sophia died from a liver condition at just 6 weeks old, he reached out for someone to create a beautiful image of his little girl.

Raising kids in a 'low media' home

Can you imagine a life without TV or computers? Some parents are opting for a low-tech, screen-free life for their kids.

Download now: Essential Kids Activity Finder app

Got bored kids? Quickly find the best activities for kids wherever you are in Australia with the Essential Kids app.

 
Advertisement
 
Advertisement
 
 
 

What's hot on EB

Win a Mountain Buggy nano

We?re giving away the new Mountain Buggy Nano - the lightweight travel buggy! So show us the little things that make you smile for your chance to win.

Be careful what you say, your baby is listening

The importance of speaking to your baby even if they are not old enough to answer back has been highlighted by new research.

The beautiful moment a baby was born at the side of a road

It's not where she expected to give birth, but mum Corrine Cinatl is delighted that her daughter's roadside arrival was captured in a series of beautiful photos.

Doctor sings first Happy Birthday to newborns

His job is to deliver babies, but this US obstetrician also has a unique way of celebrating the miracle of life.

The Nappy Collective starts new drive

It's that time of year when the dedicated volunteers at The Nappy Collective do their bit to help out mums and children in need - and they need your help.

Baby shower cake wrecks

From misshapen cake babies to questionable text, from odd colour choices to internal organ recreation, these are the baby shower cakes that taste forgot.

Photographer captures the beauty of adoption

The love of a family is usually tough to capture on camera. This is an exception.

Pregnancy progression photo ideas

Want to record your pregnancy as your belly grows? Here are some creative, fun ideas for photo shoots along the way.

The myths and facts about "normal" breastfeeding

When it comes to successful breastfeeding, there is a wide variety to what is "normal", according to new research.

Tin can craft and DIY ideas

Got a few old formula, Milo or coffee cans around the house? Use these fantastic upcycling ideas to create items for around the house and yard.

Dads meet their newborn for the first time

Emotional photos of two fathers meeting their newborn son have resonated with viewers worldwide, attracting thousands of Facebook likes and shares.

Skin safety isn't just a summer worry

Lax about the slip slop slap with your kids as weather turns cooler? Here's a reminder as to why we have to remain vigilant for our children?s future health.

Personalised baby gifts

We've scoured the internet to find gorgeous personalised keepsakes and nursery decor to record baby name and dates. They make great gifts for christenings, name days and birthdays! (All prices in AU.)

Creative sleeping baby photoshoots

See how some parents and photographers have captured sleeping babies in unusual positions and using different props.

DIY kitchen and food hacks

DIY your way to a better kitchen and make cooking easier with our clever hacks. (Some content reproduced with permission from mashable.com.)

Winter warmers for babies and toddlers

Your baby or toddler will be nice and snug in these beautiful and fun winter pieces. Most are hand-made or knitted, and they're all designed to keep your little one toastie - and adorable!

 

Mind, body, beauty, life

Making time for me

We look at your wellbeing, covering health, relationships, beauty and fashion, mind and body.

 
Advertisement
 
 
Essential Baby and Essential Kids is the place to find parenting information and parenting support relating to conception, pregnancy, birth, babies, toddlers, kids, maternity, family budgeting, family travel, nutrition and wellbeing, family entertainment, kids entertainment, tips for the family home, child-friendly recipes and parenting. Try our pregnancy due date calculator to determine your due date, or our ovulation calculator to predict ovulation and your fertile period. Our pregnancy week by week guide shows your baby's stages of development. Access our very active mum's discussion groups in the Essential Baby forums or the Essential Kids forums to talk to mums about conception, pregnancy, birth, babies, toddlers, kids and parenting lifestyle. Essential Baby also offers a baby names database of more than 22,000 baby names, popular baby names, boys' names, girls' names and baby names advice in our baby names forum. Essential Kids features a range of free printable worksheets for kids from preschool years through to primary school years. For the latest baby clothes, maternity clothes, maternity accessories, toddler products, kids toys and kids clothing, breastfeeding and other parenting resources, check out Essential Baby and Essential Kids.