Bank taken too much, help with DD guarantee

Thrugelmir

vassa wrote: »

I run a business, the same as the bank does, i'm sure you'd have something to say if you owed me £13 and i took over £300 and told you tough. It's not their money.

The banks system was programmed to collect the scheduled amount. Systems aren't clever enough to calculate the precise amount that's required.

The way around the issue would have been to stop the direct debit and make a manual payment to cover the remaining balance.

vassa

Thrugelmir wrote: »

The banks system was programmed to collect the scheduled amount. Systems aren't clever enough to calculate the precise amount that's required.

The way around the issue would have been to stop the direct debit and make a manual payment to cover the remaining balance.

Well i don't know, because i don't believe credit is ever something that anyone should take out, but the bank has the power to give you the money back instantly and to speak to another human being and be told tough, you can wait, is quite sad. £300+ is a lot of money to some people, folk would do well to realise that.

Thrugelmir

vassa wrote: »

Well i don't know, because i don't believe credit is ever something that anyone should take out, but the bank has the power to give you the money back instantly and to speak to another human being and be told tough, you can wait, is quite sad. £300+ is a lot of money to some people, folk would do well to realise that.

Banks will have set procedures to follow. So a few working days seems perfectly reasonable in which to process the refund. After all it was the OP that created the situation.

vassa

Thrugelmir wrote: »

Banks will have set procedures to follow. So a few working days seems perfectly reasonable in which to process the refund. After all it was the OP that created the situation.

And what exactly is involved in 'processing'?

You do realise any senior figure in any bank branch can process payments immediately? They CAN do it, regardless of 'procedure', they choose not to.

jonesMUFCforever

Did you know that when you apply for a loan with Lloyds that it is actually an outside company that processes the loans, payments, statements etc etc.
This is why it takes a few days to credit back loans that end up in the black!

dealer_wins

jonesMUFCforever wrote: »

Did you know that when you apply for a loan with Lloyds that it is actually an outside company that processes the loans, payments, statements etc etc.
This is why it takes a few days to credit back loans that end up in the black!

First ive heard of that, and my missus who works for Lloyds says thats not true also.

jonesMUFCforever

I stand by what I have said.

Thrugelmir

vassa wrote: »

And what exactly is involved in 'processing'?

You do realise any senior figure in any bank branch can process payments immediately? They CAN do it, regardless of 'procedure', they choose not to.

Get a job in finance if you want a better understanding of how the world of business operates. A little more complex than you think.

vassa

Thrugelmir wrote: »

Get a job in finance if you want a better understanding of how the world of business operates. A little more complex than you think.

LOL.

You do know that they just write numbers onto computers? You need to go and do some reading about how things really work, not about how you've been told they work.

You think they can't do this because of legislation? Seemed to get round legislation pretty easily when they needed bailing out.

jonesMUFCforever

vassa wrote: »

And what exactly is involved in 'processing'?

You do realise any senior figure in any bank branch can process payments immediately? They CAN do it, regardless of 'procedure', they choose not to.

Even a junior can process a payment to settle a loan early but nobody in branch can make the PLSC in Peterlee refund same day.