Should you tell the bank when they mess up

lady_fuschia

if its in your favour?

I know it doesn't happen very often, but I'm in a slight dilemma myself at the mo. RBS have a deal whereby they let you keep your interest free overdraft on your student account (at yearly decreasing limits) for three years after you graduate. The thing is, they think I graduated 2 years ago, whereas actually its 3. I don't know where they got this from, as I gave them all the correct info to start with, so its not as if I lied or anything. Thing is, its quite convenient, as it gives me an extra year to concentrate on paying my high interest debts (and paying small amount monthly towards OD) before having to worry about my OD accumulating interest.
But will I get into trouble if I don't tell them?

In general, what do you think is the best thing to do in situations where the banks balls up and its a good thing?
a) tell them?
b) Keep quiet but leave the extra money alone/ keep putting aside repayment money in case they notice?
c) keep quiet and take advantage of extra money (by spending or paying off another debt)

scottishspendaholic

Hi ladyfushcia,

Others may diagree with me on this - but I say, keep schtum. Its quite easily something you may not have noticed and its not like someone deposited money into your account, you've withdrawn it and spent it.

Something similar happened to me to with RBS and no-one ever noticed.

Reading your thread, I was just wondering if the reason they think you graduated 2 years ago is that in Scotland honours degrees are four years (not three) so they have set as their default that you will graduate four years after you start uni/college? I hope that makes sense.

scottishspendaholic x

lady_fuschia

That would make sense actually wouldn't it?

Bargain_Rzl

I had a Lloyds TSB student account (quite a long time ago now actually ) and when I started uni I intended to do a 4 year course, which I converted to a 3 year course sometime afterwards. I kept my student account privileges for the full 4 years, followed by 2 years on the Graduate account ... I can't remember if I deliberately kept schtum, or whether I tried to tell them but they didn't take any notice - the latter, I think!

Imelda

hi Lady_fuschia,

I decided to take a year out after my first year at uni, I told the bank and fully expected them to withdraw the student perks of my account, they didn't and I still had 3 years to repay the free overdraft. The way I saw it, I did nothing wrong, I gave them all the information and it was their problem if they didn't act on it.

lady_fuschia

Seems we have a consensus building then!

Molanole

I had a similar thing with HSBC which we only picked up on when I went to see them about a loan. The advisor and I sort of stumbled across it and she said "Oh well, we won't worry about that now, just keep it quiet though!". Perhaps she felt sorry for me?

looneyleo

Hi There...

Definately keep quiet about it. If they do come back to you about it, which they probably won't, you can always say you didn't realise and come to an agreement with them about repayment etc. I think you will be lucky though.

Have to admit, I'm in a similar position with a credit card at the moment. I opened a new credit card account and for some reason it hasn't listed about £260.00 worth of transactions I made on it in the beginning. This was over a month ago and they still haven't appeared. Although I feel guilty, I'm going to keep quiet about it, but will obviously pay if they come back to me.

Good luck

Looneyleo

hjb123

I too would keep quiet about it! If a large sum of money had gone into the account that wasnt mine then I would tell them but when its an extra year interest free I wouldnt bother.

melancholly

i'd say just double check that it's actually interest free! i had a student account with natwest and after 3 years they just started charging interest without sending any letters to me - apparently the one bit of paper they send you when you graduate is enough! my limit stayed the same, but a portion of it suddenly required interest to be paid.

but thinking about it, that would involve telling them.........:think: don't know what to suggest, but just be aware that they aren't guarenteed to send you any paperwork before the interest gets changed.

spud30

:silenced: :silenced: :silenced: :silenced: :silenced: :silenced:

Dont tell em !!!

:shhh: :shhh: :shhh: :shhh: :shhh: :shhh: