Paid my loan off but bank kept taking payments!

supercelt

I paid off a loan in January but the bank I got the loan from, Bank of Scotland, continued to take payments for three months which totalled close to £240 (around £79 per month).

I only noticed this yesterday in my statement. I called Lloyds who gave me a bit more info and then called BoS who explained that it was their "magical computer" that had made a mistake. The advisor said the 3 amounts will be refunded within 3-5 days and closed the account.

I am not happy though as this would have taken me further into my overdraft each month when I am trying hard to cut debts. Also, had I not noticed this on my statement, it could have continued for months!! It wouldn't have cost me a lot of money extra but it's the principal! I may not have had an overdraft and could have incurred bank charges because of a BoS "magical computer" error.

Am I entitled to make a complaint and look to be compensated or should I let it lie? Anyone else had a similar experience?

Many thanks.

shellsuit

supercelt wrote: »

I paid off a loan in January but the bank I got the loan from, Bank of Scotland, continued to take payments for three months which totalled close to £240 (around £79 per month).

I only noticed this yesterday in my statement. I called Lloyds who gave me a bit more info and then called BoS who explained that it was their "magical computer" that had made a mistake. The advisor said the 3 amounts will be refunded within 3-5 days and closed the account.

I am not happy though as this would have taken me further into my overdraft each month when I am trying hard to cut debts. Also, had I not noticed this on my statement, it could have continued for months!! It wouldn't have cost me a lot of money extra but it's the principal! I may not have had an overdraft and could have incurred bank charges because of a BoS "magical computer" error.

Am I entitled to make a complaint and look to be compensated or should I let it lie? Anyone else had a similar experience?

Many thanks.

They made a mistake and rectified it so I don't see what you want to be compensated for?

You didn't have any charges, but even if you had, I'm sure they would have paid out money for those too.

Always check you bank account, monthly or even weekly if you can (I check mine weekly). If you had done this then you could have been on the ball after the first months mistaken paid was taken

ALIBOBSY

Personnally like alot of people on a tight budget I find direct online banking invaluble. I check our accounts most days so any problems are spotted asap. Given the problems with card cloning fraud and id theft it seems prudent to keep a close eye on your accounts.
If you paid a bit of interest on this money because it was in your overdraft you could ask for this, or you may get a small gesture of goodwill payment to apologise.
ali x

duchy

I'd complain in writing detailing any additional costs this caused.

Rafter

Wouldn't hurt to complain and say that as a result of their computer error you have incurred additional overdraft interest plus the cost of making phone calls and sorting it out.

Given they would have charged you £25 plus if you hadn't made a payment on time, I see no reason why they shouldn't offer you a similar sum as goodwill for their mistake.

R.

supercelt

Exactly, banks would be the first to charge you for any error. It's a bit of effort though just to get £25.. I may just write an email to them and see hwat happens!