Nationwide won't give my 13p overpayment back

moggylover

Despite all the comments to the contrary, I'm with the Op. It is HER 13p and not money that Nationwide were entitled to and thus they should return it.

I bank with Nationwide, if I was 13p overdrawn it would show up as an overdraft and had she sent them a cheque for a sum that was 13p less than the settlement they requested they would have returned her cheque and asked her to alter it.

The principle is that it is not their money to keep and so I can quite see why she is not impressed at their stance.

ILW

I never realised that there were people out there like this.
Bit scary really.

realaledrinker

I love the fact that some goon at Santander actually signed that cheque!

opinions4u

moggylover wrote: »

Despite all the comments to the contrary, I'm with the Op. It is HER 13p and not money that Nationwide were entitled to and thus they should return it.

While I agree that the money is the OP's, I don't agree to a level of entitlement where it is clearly uneconomic to return it.

It is uneconomic to the lender to process the refund. But it is also a complete waste of the OPs time to receive a cheque through the post and open the envelope. Let alone walk in to another bank, queue for a bit and deposit the money.

I bank with Nationwide, if I was 13p overdrawn it would show up as an overdraft and had she sent them a cheque for a sum that was 13p less than the settlement they requested they would have returned her cheque and asked her to alter it.

If the overdraft related to a live account they may well have done to minimise future charges. I think it's highly likely that if the payments was in full and final settlement of the account the 13p would have been written off.

The principle is that it is not their money to keep and so I can quite see why she is not impressed at their stance.

The principle is that it's in nobody's issue to process a refund (or a shortfall) on a mortgage account for 13p. It works both ways and is not a case of a firm profiteering out of small amounts. The administration involved in writing the amount off will cost more than 13p, but much less than processing a refund.

Joe_Bloggs

Banks and similar financial institutions bombard their customers with pointless mail shots offering them loans ,insurance, credit cards on glossy leaflets. Each of these envelopes would cost the sender more than 13p. In my experience it is not uncommon to receive one for each account that I have with the same institution.

It is times like these that I miss a fireplace with a genuine fire.

I have seen MSE posters caught out by credit card companies. They think they have paid off their credit card off in full. They do not open any of their mail or at least comprehend what it says, but they were charged a few pence in residual interest. This snowballs into penalty charges and then missed payments and defaults. All for the sake of a few pence that could have been initially written off.

It is clear that the credit reference agencies should be told if Nationwide do not pay up.

J_B.

Nukumai

Nothanks wrote: »

Without putting words into the OP's mouth, it seems that the issue here is not the amount of money, which we all agree is small, but the laughter and it's only a few pence attitude from a financial institution. It may only be a few pence, but it's not theirs to decide that.

Couldn't agree more.

I seem to recall a fair few instances in the recent past of banks levying ridiculously disproportionate charges against customers who found themselves a few pennies in excess of their overdraft limits.