The Bank Ate My Bill Payment?
Evidently TD in the US had a small glitch and a bunch of folks may not have paid their bills on time. This makes for an interesting issue about what happens if and when you pay your bills late what will happen?
In this instance it might well be in your rights to complain to the bank and make them talk to your creditors and/or make them pay any fees that you may have incurred because of their error (be it clerical or computer). This is the course of action to take when your bank screws up, and you end up getting in trouble because of it.
Wonder what TD did about their customers who may have had their mortgage payments show up late because of their computer glitch? Interesting question, we shall see what stories may come from this one.
Whoops, my bad
On a related story, I actually did pay my Mastercard bill 1 day late once (and the bill for the month was quite high due to various purchases) but I only figured it out when I got my bill the next month, and saw the $75.00 interest charge that I had incurred. Those who know me can guess the trail of expletives I unleashed after I saw it, but eventually I calmed down and decided to call and see what might happen if I claimed I was an idiot.
I spoke with a very good customer rep, who looked at my account, and saw that I had never made a late payment in the previous 3 years, so she forgave the finance charge and also made sure I didn’t incur any further interest charges because of my error. Just goes to show, you never know what a bank or Credit Card company will do for you unless you ask them.
The customer rep did point out that I shouldn’t do this again for a while because it was a special “perk” for good customers, so keep that in mind too.
Related Articles
- Effective Interest Rate of Service Charges...
- No Bank Would Do That!...
- How do Banks Differentiate Themselves?...
- Advice for New Grads?...
- Rogers Cable and Overruns...
Related posts brought to you by Yet Another Related Posts Plugin.
December 15th, 2009 at 1:28 AM
[...] could easily be charging over 50% annual interest rate and it wouldn’t affect me (unless I forgot to make a payment, which I did [...]