Metrobank reported missed payment even though I'd transferred funds before deadline

joodlemcnoodle

My account is overdrawn and I received a text alert to say I had to transfer funds within 48 hours which I did immediately.  Metrobank have now reported a missed payment on my otherwise perfect credit record and they are refusing to remove it.  There is no information on my statements to say they would do this, and they have also taken debit interest before the 28th of the month several times so not even following their own processes.  
The impact of this is that my remortgage offer (another lender) has been declined. We were about to get our offer and they noticed this on my credit file and changed their mind at the last minute.  The knock on impact of this is that if I can't get the equity out my house, I can't pay my builder (in middle of renovation project), so I will face legal action from him, have a house that I can't live in and can't sell, and end up paying an extra mortgage long term which I can't afford. We bought a flat to live in during the building work, with the intention of renting it out after we moved back to our house.  All of this is now in jeopardy if we can't get the equity out and that all depends on metrobank removing the entry on my credit file.
I transferred funds in good faith within their deadline so why can they not remove it?  They are just giving a 'computer says no' answer and even the staff in branch don't agree that it's right.  
This is totally against the 'treating customers fairly' principle of giving clear information to customers and keeping them informed. 
If you don't pay a bill, then a company writes to you and gives you a deadline to pay it or they will report to to credit agencies etc. That is giving clear information but Metrobank have done none of that at all.  
I am obviously escalating this and will fight them but I am so stressed out over this because we could potentially end up losing our home if we can't get the equity out.  We can't afford both mortgages long term without having rental income on one of them.  
Ironically they were posting about how much they care about their customers' mental health and wellbeing on their facebook page - just paying lip service and clearly don't care tuppance about their customers. given their response to date....  just hope that in this case, common sense will prevail and they won't cause us to end up with financial difficulties.  
Has anyone else had a similar issue and how did you resolve it?  All advice much appreciated.  
Thank you

ThisnotThat

Did they actually give you a deadline before they were going to report it?  Or did they just say "Please bring your account back in line in the next 48 hours" or whatever?

The_Fat_Controller

What EXACTLY was in that text is very important.
How have they "taken debit interest" several times ?
That would suggest you are regularly overdrawn.

Edi81

Perhaps your mortgage rejection is linked to being overdrawn a lot of the time. 

[Deleted User]

If you don't pay a bill, then a company writes to you and gives you a deadline to pay it or they will report to to credit agencies etc.

Not sure where you are getting this from. Any missed payment can be reported to the CRA immediately, firms do not have to write to you and give you a deadline. If you are constantly in your OD then that could well be the reason why you were declined not this single payment. Perhaps you could try for a 0% money transfer card if you need cash rather than trying for a re-mortgage

joodlemcnoodle

ThisnotThat said:

Did they actually give you a deadline before they were going to report it?  Or did they just say "Please bring your account back in line in the next 48 hours" or whatever?

There was no mention of adding anything to my credit file, just a 48 hour deadline to bring it back in limit. 

joodlemcnoodle

Deleted_User said:

If you don't pay a bill, then a company writes to you and gives you a deadline to pay it or they will report to to credit agencies etc.

Not sure where you are getting this from. Any missed payment can be reported to the CRA immediately, firms do not have to write to you and give you a deadline. If you are constantly in your OD then that could well be the reason why you were declined not this single payment. Perhaps you could try for a 0% money transfer card if you need cash rather than trying for a re-mortgage

The lender said it is the single missed payment that is the reason for their decision not the overdraft. 
I was overdrawn for about 4 months on and off due to extra costs from the building work hence wanting to release more equity.  The underwriters were happy with everything until the last minute when they mentioned a missed payment.
I mentioned about companies writing to you because I know from years ago when I had some financial problems and wasn't able to pay my utility bills, they wrote to me with a reminder and it explained the timescale before they would report it.  That seemed like a fair way to inform customers. 

My point of this post is that if I get a text alert to say I must top up my account within 48 hours and I do it immediately then surely they means I have met their timescale? It seems unfair to then report it if I've.met the deadline they set.  
The FCA "treating customers fairly' principle says they must provide clear information to customers and keep them informed.  I don't feel they have done that at all. If I had been made aware that they would do this I would have found a way to top it up sooner.  
I did have financial difficulties through no fault of my own many years ago and I have worked hard to get my credit score to excellent again. I have temporarily been overdrawn recently due to increased building costs but have no unpaid bills or anything like that. 

The_Fat_Controller

As you say "bring it back in limit" not "in credit" that implies you have likely exceeded an overdraft and that is the cause of your problem.
You said you paid immediately but were the required funds actually credited within 48 hours ?
If so, you have a case for a complaint.
If not, you'll have to live with the marker for 6 years.
Can you see what is recorded on your report by the CRAs ?

ThisnotThat

The_Fat_Controller said:

As you say "bring it back in limit" not "in credit" that implies you have likely exceeded an overdraft and that is the cause of your problem.
You said you paid immediately but were the required funds actually credited within 48 hours ?
If so, you have a case for a complaint.
If not, you'll have to live with the marker for 6 years.
Can you see what is recorded on your report by the CRAs ?

They don't have a case at all.  The lender did not say if they paid it would not be reported, they just threatened them to bring it back in line in 2 days "or else" (maybe they'd take further action if they didn't?)

They correctly reported that the account was over its agreed overdraft limit.  There is no complaint here.

The_Fat_Controller

@ThisnotThat, the OP stated it was reported as a missed payment, not a late payment and that they  transferred within the deadline.
You are just guessing as to what was reported to the CRA.
We need the actual facts from the OP.

joodlemcnoodle

The_Fat_Controller said:

As you say "bring it back in limit" not "in credit" that implies you have likely exceeded an overdraft and that is the cause of your problem.
You said you paid immediately but were the required funds actually credited within 48 hours ?
If so, you have a case for a complaint.
If not, you'll have to live with the marker for 6 years.
Can you see what is recorded on your report by the CRAs ?

The money was credited immediately and showed on my statement the next day so in 24 hours. That's why I'm confused. What was the point of the 48 hour limit if not to give me chance to stop the record on my credit file? It's not clear at all.