 I had a credit card and stopped paying, what happens? |
| I had a credit card through Best Buy and missed payments and HSBC started calling everyday (which is normal). But I go so far behind that I couldn't make the payments any more. Then suddenly, ... |
|
 Why do people say credit cards are evil? |
| They're not. People are the ones who put themselves into debt and I can say this because I got myself into debt, I paid it all off thankfully. But yeah credit cards aren't evil, we all know ... |
|
 How can I get rid of my credit card debt? |
| I had a good job for a while and being stupid I charged my college tuition ($9,000) onto credit cards thinking I will pay it off within a few months. Its been more than a year an my credit card ... |
|
 Why are bill collectors such jerks? |
| I hate collections calls. Is it really any skin off these people's teeth if I pay my bill or not? And what's with the rudeness and judgement, they don't know my financial situation. I ... |
|
 Debit card = credit card? |
| so i have a debit card can i buy stuff online, cuz everything says enter ur credit card number, can i enter my debit card number?... |
|
 Whats the difference beetween a mastercard and a visa card? |
?
Additional Details
ive heard mastercard is worldwide and visa is not as much ... |
|
 I saw a charge on my credit card that says "VIP Tune 6 CYP" and I can't figure out where it came from. |
My bank card company can't figure it out and it's for a charge of 29.99 which indicates a subscription or something..
Additional Details
anyone know a URL?... |
|
 I'm thinking about getting a credit card, I have a job, in school, and 19 years old, any advice? |
| I don't have any bills to pay, except a cell phone bill. And I'm sure I'd be able to keep up with the bill, any advice on what to look out for and what company to go with?... |
|
 Where can I get free a credit report? |
| I want to check my credit report for free and I don't want to put my credit card information. Does anyone know a good site?... |
|
 Forgot to pay credit card, will pay first thing tomorrow. due by 12th. am i going to make it? |
| forgot to pay credit card bill. its due to be paid by 12th, if i pay first thing tomorrow morning will it clear in time do u think? is there anyway i can get extension/any one have any tips. dont ... |
|
 Whats does COD mean? |
Im trying to order something over the internet, and when I click " will call or mail in payment (COD not accepted)", what does COD mean?
Thanks so much!... |
|
 I need a company that will give me a personal loan with bad credit to consolidate CC and give me extra cash.? |
| I need the extra cash to pay off some bills that are not credit cards and to put new tires on both of the vehicles. Credit Card Consolidation will not work in my situation. I had good credit at one ... |
|
| How is it possible to be in so much credit card debt. please explain? |
| as i understand it you get a credit card where you can spend 1000pounds for example that you dont have so you are effectively -1000pounds but that is the limit is it not? after a grand i understand ... |
|
 I have a debt of 7000 on a credit card,would it be wise to transfer it to anothor credit company? |
| if they advertise 15 months interest free,does this whole amount need to be cleared by the end of 15 ... |
|
 Will canceling a credit card i have be bad? |
| i have 2 credit cards, the intro apr is about up. i owe no balance on them, can i cancel them and reapply for new credit cards with no apr for the first year with nothing bad happening? like to my ... |
|
|  |
Loud Fast Rules | Who is responsible for a banking mistake? |
My wife got a VISA gift card to make a large online purchase. The gift card was supposed to made out for $300 and the bank put $500 on it. The bank called her yesterday and told her that she had to pay the $200 back immediatly or the next time her check was direct deposited, the bank would deduct it. Who is responsible? The bank or my wife? |
 |
 
Studly
|
Keeping in mind I'm not a lawyer.....
According the the Uniform Commercial Code banking laws, Article 4 states the following:
§ 4-401. WHEN BANK MAY CHARGE CUSTOMER'S ACCOUNT.
(a) A bank may charge against the account of a customer an item that is properly payable from that account even though the charge creates an overdraft. An item is properly payable if it is authorized by the customer and is in accordance with any agreement between the customer and bank.
(b) A customer is not liable for the amount of an overdraft if the customer neither signed the item nor benefited from the proceeds of the item.
So, as I read this, since your wife did authorized the purchase, and did benefit from it, the will be held liable for the cost.
Yeah, it sucks. But you know bankers. |
|
missy
 |
that is tough one, i would think they are going to make your wife pay it back |
|
Frank Castle
 |
If the gift card was for just $100.00 would you ask for the rest of the money? |
|
donsabe
|
If the bank benefited from a mistake you made, how would you want them to act? |
|
fredthedog52
|
Unless you have a receipt for the $500.00 then you have to pay. |
|
FocalBlur
 |
Both.. but your wife took advantage of their mistake. The way they get away with it is that if you read the terms and agreement they have protected themselves so they can reverse mistakes. |
|
Truth Hurts
|
I would say in this instance the bank is, but they are going to make it seem as if your wife is. You need to make as many phone calls and speak to as many higher ups as possible before your wifes next check goes in....
Good luck |
|
jen
|
Who Would be responsible if you deposited 500 and they only applied 300 to you account. Would you want them to pay it back? I think so. If she only needed the 30 then she shouldn't have used the other two and you can give the card back to the bank with the remaining 200 on it. Or you can use the 200 to buy things you need to replace the 200 that was taken out. Needless to say it was their mistake, but your wife shouldn't ave spent the money she knew wasn't hers without atleast waiting until she found out if the error was going to be noticed. |
|
tam01@sbcglobal.net
|
the bank |
|
WhatAmI?
|
The bank is at fault for the error, but if your wife is honorable, knowing the amount was supposed to be $300, would return the $200.
Honesty and honor are hard to find these days. |
|
spot
|
I think at the end you will probably pay it back one way or another. But one thing you can demand from the bank is an apology for making such a stupid mistake. What would have happened if you gave the card away as, let's say, a graduation gift to your boss's son. You can't go to him and tell him to pay you $200 back. The bank should not assume you have used the money. If I were you, I would give the money back in exchange for a written apology. |
|
?
|
Well, I think both parties. The bank because they put the wrong amount, and your wife for abusing that mistake. |
|
Firestorm
|
Well unfortunately I hate to say you guys are going to be responsible but I would go talk to branch manager from where you bought the gift card and talk to them.
Take your reciepts and show them that it wasn't your mistake even though the gift card is like cash your out of luck there. |
|
D C
|
Probably the bank, but if this is a bank you do a lot of business with it would be best for her to pay it back. Plus, she knew it should only be for $300 so she should do the right thing. |
|
kentata
 |
Be honest - you both knew that you had gotten too much on the card. You are responsible. If not legally, then morally. |
|
mombheard
|
are you going to take advantage of someone error. you may get the person that sold you the card in trouble or is two hundred dollars that important to you that you would take the monet under false pretenses. talk to all the higher ups you want and they will tell you the same thing. you took the money knowing to much was on the card. your good name at a bank will go a lot farther than that two hundred dollars. think about that the next time you apply for a loan or their is an error on your account. if you added you deposit ticket wrong and deposited more than you wrote down is that your fault or the bank's fault. it will come back to bite you in the *** if you keep the money. if you spent the money and can't pay it back in one lump sum then i am sure the higher up's would work something out to where you could pay on installments. an honest mistake is one thing, but knowing is down right theft. |
|
jafnarf
|
Your Wife is...there is no use in fighting it...they are in control of the (computer) money and they will deduct it from her account whenever they want and for any reason that makes sense... |
|
Franky
|
Sh*t thats the banks fualt, If I were you id be making phone calls and see what information you can get from the bank and fix the problem call a lawyer and ask for help. |
|
Johnny
 |
The bank is responsible for the mistake but you are responsible for the return of the overage. Everyone makes mistakes even the banks. You wouldn't like it if you paid to much on a payment to the bank and they said to bad. |
|
Jack Skellington
 |
If it was a Visa Giftcard, they need to correct it with Visa (or whoever controls the giftcard) if the card has already been used, your wife should of figured out how much was on it, and if she overused it, she was using money that wasn't really hers.
If someone deposits money into your account accidently, doesn't find it for a week or whatever, and you spend it, if they figure out it was in your account, they withdraw it, it is on you for spending it. |
|
Kipper
|
It does not matter who is responsible for the mistake, you will have to give the bank back there money. This happens all the time and the banks money was spent by your wife.
It may seem unfair to you but it is the banks money in the end. |
|
clcleather
|
This seems like a moral issue to me. If she realized the bank's mistake right after receiving the card and continued to spend, trying to see how much she could get away with, then it's only fair to return the extra $200.
Keep in mind that banks' computers and data are run by human beings, who are prone to errors just like the rest of us.
We should not hold it against the bank for making this error, even though we might want to get back at them for the exorbitant fees they charge us. But in the end, two wrongs don't make a right.
Good luck. |
|
Lisa B
|
Your wife. If she had previous knowledge that the card was only worth $300.00, she should have only spent the $300.00. Technically, it could be considered theft if she doesn't pay it back. |
|
Amanda H
|
I can assure you that were this done at my bank, you would be paying that money back. Yes there was a clerical error on the part of the bank, but your wife knew how much was supposed to be on that card. She should have taken the card back when she realized there had been an error.
However, they do have reserve loss accounts set aside for just that reason. Some poor teller or CSR got into a lot of trouble for that $200. I would CALMLY talk to the branch manager about this. Maybe they will work with you on it, consider a payment plan.
Good luck. They are both wrong. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
24 | 10 minutes(s) ago
| | | |
24 | 34 minutes(s) ago
| | | |
25 | 49 minutes(s) ago
| | | |
24 | 52 minutes(s) ago
| | | |
14 | 1 hour(s) ago
| | | |
24 | 5 hour(s) ago
| | | |
22 | 7 hour(s) ago
| | | |
24 | 9 hour(s) ago
| | | |
24 | 11 hour(s) ago
| | | |
6 | 2 day(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
