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Am I due interest on an overpayment
L0U15E
Posts: 1 Newbie
My partner has been paying off a credit card he had defaulted on. The account had been closed and a standing order set up to pay it off. He is useless with money and lost all track of it. When I spoke to the company yesterday it transpires her has overpaid as it was paid off in 2019. The bank are paying him back £659 pound, my question is, should he also be paid interest on this money? Any help appreciated
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Comments
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Paid interest?I doubt it but then again, I really don't know.0
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No, not if he overpaid.0
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my question is, should he also be paid interest on this money?No. With a standing order, he sends the end recipient the money. They dont take it. He is in control with SOs. So, they have done nothing wrong and there is no reason for interest to be added.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1
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