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

ThisnotThat

kaMelo said:

The thing is, is it an accurate reflection of the situation.
What was reported to a CRA should be an accurate reflection of this, hence reporting a missed payment can only be accurate if a payment was missed. Going into an unauthorised overdraft should not be reported as a missed payment as they're two different things.

Therefore the important things here are;
1. What happened, a missed payment or an unauthorised overdraft?
2. What was reported, a missed payment or an unauthorised overdraft?

If answers to both points are the same then it's accurate, if they are different then it's not an accurate reflection and a complaint can be made to correct that information.

Having said that, a missed payment by itself is probably less damaging than going into an unauthorised overdraft briefly but continually using an overdraft month after month, even within limits, will probably have a worse impact than either of those things.

From what the OP has posted it sounds like they've gleaned this from the lender/broker rather than directly from their credit files.  I suspect they're just referring to it as a missed payment when it really isn't.

Even if it was being reported incorrectly, changing it to an overlimit would have no effect.

[Deleted User]

Part 6 of the Competition and Market Authority’s (CMA) Retail Banking Market Investigation Order 2017 requires banks to ensure that customers with personal current accounts receive a text alert warning about charges before banks charge them for unarranged overdrafts, so they have time to act and can avoid unexpected fees. I suspect that was the purpose of the text and the 48 hours to bring your account balance down enough to be back within your overdraft limit not that going over your overdraft limit would not be reported to the credit reference agencies if you go over it. 

Living right up to your overdraft limit isn’t a sign of an otherwise perfect credit record. I wonder if going over the arranged limit was the straw that broke the camel’s bank for the mortgage lender. 

If this is the first time you’ve gone over your authorised overdraft limit with Metrobank and you don’t have any other history of missed or late payments on any accounts you have with Metrobank then writing to them pointing out it’s the first time you’ve ever done anything like this and if pretty please with a cherry on top could they please remove whatever marker was put on your credit files. I completely forgot to make a payment to my credit card one month, first offence, and after one secure message to the building society it was like it had never happened. 

joodlemcnoodle

Lover_of_Lycra said:

Part 6 of the Competition and Market Authority’s (CMA) Retail Banking Market Investigation Order 2017 requires banks to ensure that customers with personal current accounts receive a text alert warning about charges before banks charge them for unarranged overdrafts, so they have time to act and can avoid unexpected fees. I suspect that was the purpose of the text and the 48 hours to bring your account balance down enough to be back within your overdraft limit not that going over your overdraft limit would not be reported to the credit reference agencies if you go over it. 

Living right up to your overdraft limit isn’t a sign of an otherwise perfect credit record. I wonder if going over the arranged limit was the straw that broke the camel’s bank for the mortgage lender. 

If this is the first time you’ve gone over your authorised overdraft limit with Metrobank and you don’t have any other history of missed or late payments on any accounts you have with Metrobank then writing to them pointing out it’s the first time you’ve ever done anything like this and if pretty please with a cherry on top could they please remove whatever marker was put on your credit files. I completely forgot to make a payment to my credit card one month, first offence, and after one secure message to the building society it was like it had never happened. 

Thank you. That's helpful.  I did write a letter in exactly that tone but unfortunately it was a computer says no.  My credit score has been 996/999 for absolutely ages. No negative reports whatsoever. Using the overdraft has only been a recent thing due to the increased building costs.  The remortgage application is with our existing lender and we had an agreement in principle.  Literally every box had been ticked until this one entry appeared.  
I realise it might not be possible to get it removed but if you don't ask, you don't get.  I do think they could make it clearer how their process works because other banks seems to have clearer information.  Anyway thank you for your advice, that is much appreciated.  

[Deleted User]

joodlemcnoodle said:

Lover_of_Lycra said:

Part 6 of the Competition and Market Authority’s (CMA) Retail Banking Market Investigation Order 2017 requires banks to ensure that customers with personal current accounts receive a text alert warning about charges before banks charge them for unarranged overdrafts, so they have time to act and can avoid unexpected fees. I suspect that was the purpose of the text and the 48 hours to bring your account balance down enough to be back within your overdraft limit not that going over your overdraft limit would not be reported to the credit reference agencies if you go over it. 

Living right up to your overdraft limit isn’t a sign of an otherwise perfect credit record. I wonder if going over the arranged limit was the straw that broke the camel’s bank for the mortgage lender. 

If this is the first time you’ve gone over your authorised overdraft limit with Metrobank and you don’t have any other history of missed or late payments on any accounts you have with Metrobank then writing to them pointing out it’s the first time you’ve ever done anything like this and if pretty please with a cherry on top could they please remove whatever marker was put on your credit files. I completely forgot to make a payment to my credit card one month, first offence, and after one secure message to the building society it was like it had never happened. 

Thank you. That's helpful.  I did write a letter in exactly that tone but unfortunately it was a computer says no.  My credit score has been 996/999 for absolutely ages. No negative reports whatsoever. Using the overdraft has only been a recent thing due to the increased building costs.  The remortgage application is with our existing lender and we had an agreement in principle.  Literally every box had been ticked until this one entry appeared.  
I realise it might not be possible to get it removed but if you don't ask, you don't get.  I do think they could make it clearer how their process works because other banks seems to have clearer information.  Anyway thank you for your advice, that is much appreciated.  

Just so you are aware, your "score" is totally meaningless, no lender ever sees it and no decision on lending would ever be made based on that. It's possible the re-assessment also checked the use of the OD and living so close to it maybe that also triggered the warning

joodlemcnoodle

Deleted_User said:

joodlemcnoodle said:

Lover_of_Lycra said:

Part 6 of the Competition and Market Authority’s (CMA) Retail Banking Market Investigation Order 2017 requires banks to ensure that customers with personal current accounts receive a text alert warning about charges before banks charge them for unarranged overdrafts, so they have time to act and can avoid unexpected fees. I suspect that was the purpose of the text and the 48 hours to bring your account balance down enough to be back within your overdraft limit not that going over your overdraft limit would not be reported to the credit reference agencies if you go over it. 

Living right up to your overdraft limit isn’t a sign of an otherwise perfect credit record. I wonder if going over the arranged limit was the straw that broke the camel’s bank for the mortgage lender. 

If this is the first time you’ve gone over your authorised overdraft limit with Metrobank and you don’t have any other history of missed or late payments on any accounts you have with Metrobank then writing to them pointing out it’s the first time you’ve ever done anything like this and if pretty please with a cherry on top could they please remove whatever marker was put on your credit files. I completely forgot to make a payment to my credit card one month, first offence, and after one secure message to the building society it was like it had never happened. 

Thank you. That's helpful.  I did write a letter in exactly that tone but unfortunately it was a computer says no.  My credit score has been 996/999 for absolutely ages. No negative reports whatsoever. Using the overdraft has only been a recent thing due to the increased building costs.  The remortgage application is with our existing lender and we had an agreement in principle.  Literally every box had been ticked until this one entry appeared.  
I realise it might not be possible to get it removed but if you don't ask, you don't get.  I do think they could make it clearer how their process works because other banks seems to have clearer information.  Anyway thank you for your advice, that is much appreciated.  

Just so you are aware, your "score" is totally meaningless, no lender ever sees it and no decision on lending would ever be made based on that. It's possible the re-assessment also checked the use of the OD and living so close to it maybe that also triggered the warning

Thank you. It's certainly a big learning curve. Shame none of this is made crystal clear to customers.... You should not have to go hunting for this type of information. It should be easily available.  Anyway it is what it is.  Thank you for your help, much appreciated.  

joodlemcnoodle

UPDATE
I have had my complaint upheld and Metrobank have now removed the marker from my credit file.  They accepted that the information was not at all clear to customers and that the text alerts were very misleading.  They also accepted that the policy and process relating to credit agencies was not clearly or easily available.  
So thank you to everyone who offered advice and to the one person who felt the need to belittle me, you don't know everything.....    it WAS worth me following it up.  

p3ncilsharpener

joodlemcnoodle said:

UPDATE
I have had my complaint upheld and Metrobank have now removed the marker from my credit file.  They accepted that the information was not at all clear to customers and that the text alerts were very misleading.  They also accepted that the policy and process relating to credit agencies was not clearly or easily available.  
So thank you to everyone who offered advice and to the one person who felt the need to belittle me, you don't know everything.....    it WAS worth me following it up.  

Hardly.

They decided not to throw away £550 with a persistent complainer, hardly a massive victory.

Jumblebumble

p3ncilsharpener said:

joodlemcnoodle said:

UPDATE
I have had my complaint upheld and Metrobank have now removed the marker from my credit file.  They accepted that the information was not at all clear to customers and that the text alerts were very misleading.  They also accepted that the policy and process relating to credit agencies was not clearly or easily available.  
So thank you to everyone who offered advice and to the one person who felt the need to belittle me, you don't know everything.....    it WAS worth me following it up.  

Hardly.

They decided not to throw away £550 with a persistent complainer, hardly a massive victory.

So you would be happy to receive a black mark on your credit rating when a bank has misbehaved and admitted they have done so?
How Strange

MattMattMattUK

Jumblebumble said:

p3ncilsharpener said:

joodlemcnoodle said:

UPDATE
I have had my complaint upheld and Metrobank have now removed the marker from my credit file.  They accepted that the information was not at all clear to customers and that the text alerts were very misleading.  They also accepted that the policy and process relating to credit agencies was not clearly or easily available.  
So thank you to everyone who offered advice and to the one person who felt the need to belittle me, you don't know everything.....    it WAS worth me following it up.  

Hardly.

They decided not to throw away £550 with a persistent complainer, hardly a massive victory.

So you would be happy to receive a black mark on your credit rating when a bank has misbehaved and admitted they have done so?
How Strange

Most people seem to disagree that the bank misbehaved. 

What is more likely is that they decided it was not worth the pain in the behind, which is what they do in quite a few cases, rather than that they were actually in the wrong. 

Shakin_Steve

Personally, I am pleased for the OP. The dire situation he may have found himself in has been averted and, although his views on how banks report are somewhat skewed, it was obvious (to me) that his actions were borne out of desperation. 

OP,  well done for showing the tenacity to fight the decision, but please don't let yourself get anywhere near that situation again. In my opinion, you were lucky.