Should you tell the bank when they mess up

Thriftylady

I wouldn't bother pointing out a mistake like this, even if they discover it, they would most likely just convert the account at that stage and wouldn't backdate the interest anyway.

On the other hand, I would definitely point out a mistake such as money being deposited in my account in error, just because I believe its the right thing to do. And even if I didn't believe it was the right thing to do, I would do it anyway, because these things always come back and haunt you in the end!

jitsuguy

Similar thing happened to me when Abbey transferred my credit card balance. They happened to transfer it twice. So I gave them a call and told them that they had done this (I done this 3 times) and they disagreed with me! Although on the third time the adviser told me to put it in an interest account and make some money on them! So I am!

He he he!

Moral of the story - keep quiet and be prepared for them to take it back!

Jitsuguy

lady_fuschia

I think if it was money that just landed in my account I would tell them. It happened to someone I know a while back, and it turned out to belong to another customer with a similar name. I'd hate to think I was taking money from another customer- don't mind ripping the banks off tho, they do it to me often enough.

Mark7799

I wouldn't think there's any need to tell them but make sure you keep a tight grip on your account as they may change the account with very little if any warning.

Macduff_3

Natwest gave me a graduate account for 2 years and I didn't even graduate! I pointed this out but was told that it is their policy to do this for every student account. They changed it to a Current Plus automatically about 2 years after that. my advice would be to leave it. Chances are as RBS and Natwest are the same company they will have the same policy.

lady_fuschia

Just wanted to add: the reason I know about this is because they sent me a letter last week that said "Now you are entering your 3rd year after graduation we are reducing your overdraft to £1000". I was expecting it to say "Now you are entering your 4th year after graduation we are slapping a horendous interest rate on what you owe us."