letter from my bank, could anyone translate?

ecangel24

I have just received a letter from my bank, and I know what I think it means, but it just seems too good to be true.

It says.

Original credit amount: £525

Please note when you next check your statement that we have changed the amount you paid in on .... from your total of £525 to £725.

We have done thiis for the following reason.

- Incorrect addition of cheques.

Does that mean that i have 725 pounds instead of 525, or that it will say £725 but have only been debited £525.

Thank you in advance!

sutton111

That seems confusing doesn't it, have you rang them up to check the balance that may be the logical way forward really.

oldwiring

I'm surprised that anyone would not know how much they were paying in to such a large degree. Just in case the bank has made a mistake and not you, check your list of cheques as well. You do not want them claiming baxk later and sending you in to o/d especially id unauthorised.

ecangel24

thanks sutton, im confused aswell! i plan to pop into the bank tomorrow and ask.
Oldwiring, I know how much i paid in. Which is why the sum of 725 is confusing me. As i paid in 2, one for 325 and another for 200.
To be fair it wouldnt be the first time my bank made a mistake, they opened a credit card for me in july which i knew nothing about until october.

sutton111

it looks like they doubled (2x£200) the the 200 hundred cheque doesn't it.:eek:.
whos the bank?

ecangel24

The banks natwest.

If they have given me an extra 200 pounds do I have to give it back? even if they dont ask for it?
With the credit card they claimed i went in and applied for it but i didnt!

[Deleted User]

The way I read that letter, you ACTUALLY paid in £725.

They ONLY CREDITED £525.

So they've sorted the mistake and ADDED ANOTHER £200 to your account.

ecangel24

billbennett wrote: »

The way I read that letter, you ACTUALLY paid in £725.

They ONLY CREDITED £525.

So they've sorted the mistake and ADDED ANOTHER £200 to your account.

but i'm sure the cheques were only worth 525!

although what is a cheque worth if the amount written in full and the amount in figures differ.
I must admit for the one worth 200 pounds I can only recall looking at the amount written in full.

ShelfStacker_3

IIRC, the amount in figures takes precedence, but if they don't match then the cheque shouldn't be accepted by the cashier, and should probably be spat out during processing.

Mikeyorks

ecangel24 wrote: »

although what is a cheque worth if the amount written in full and the amount in figures differ.

The legal value is the one in words ...... the courtesy amount (to help processing) is in figures. If there's a difference it's often the 'lower amount' that's claimed. But that's incorrect as strictly either the legal amount should be claimed ... or the cheque rejected.

If you're confident - and you should be - of your £525 total? Then it sounds as though they have processed one of the cheques for £200 too much. If that excess has been encoded onto the cheque - then it will go right throught the system and onto the drawer's account in that inflated value. Which means that your gain is the drawer's loss.

If whoever paid you the incorrectly processed cheque spots it ..... their Bank will simply process a correction back through your bank and onto your account. In other words the £200 extra will simply be removed as an 'error correction'. The 2-4-6 rules don't apply to errors .... so the fact the cheque 'clears for fate' after 6 days means nothing in such a case.