Last week I had to deal with something that I hope I’ll never have to deal with again. I tell you the story in the hope that you may never fall into the same trap I did.
It all started earlier when I paid my business credit card account to my bank. I operate a credit card for our business which I pay off in full each month. I do this over the internet using BPAY.
I didn’t pick the error up until the statement for my personal credit card account arrived showing a $1400 credit balance. It didn’t take long to work out what had happened and I thought it would be a simple task to get the bank to reverse the payment and transfer it into the correct account.
Before I tell you what followed, understand this. I have a business account, a business credit card account and a private credit account all at the same bank. My personal bank account is held at another bank.
When I contacted the bank where both the credit cards were held and explained what had happened, I was on the phone for about 20-30 minutes while they tried to work out how to fix it. The girl I spoke to put me on hold and went to away to ask her colleagues what to do. When she returned she told me that I could transfer the money myself but it had to go via my personal account, that is the one at the other bank. I tried this but the system wouldn’t let me do it.
I made two further phone calls back to the bank and both times had to start again with a different person. On each occasion, the call took 20 -30 minutes.
In the end I was told the only way I could do it was to go to an ATM or the bank, make a cash withdrawal from personal credit card and then bank it into my personal bank account, at the other bank. Do this and then pay the business credit card account from there to put everything right again. By the way, while all this was happening, my business credit card had been “blocked” because they hadn’t received any payment.
That’s all bad enough but here’s the real clanger. The bank also told me that because I had to make a cash withdrawal from my credit card, I’d get hit with a sizeable fee but when I did, I could ring them back and they’d refund it. How much would that be I asked? Probably $200 -$300. You’re joking I said!
At the time of writing this, I have spent about 3 hours trying to resolve it and am yet to see what that fee actually is and to get it written off.
Ain’t technology great? My mistake… yes, but be assured I won’t be doing that again.