Cash ISA account error

T

TitanTim

Elite
Just been doing some money savings housekeeping today as you do :roll: Anyways I've got a Cash ISA account with a passbook, I haven't looked at it for just over 12 months as it's a limited access high interest account. Last time was when I went into my local branch to get some interest paid in. I didn't check the pass book afterwards and put it away when I got home, daft not too check I know. Anyways just opened it up and the cashier has put the total savings amount in twice then totalled it up so I've got twice the savings showing. It's not exactly a paltry sum so a bit of an error on the bank's part. Obviously I'm going to inform them but I actually feel quite bad I hadn't spotted the mistake before now. Have I technically and unknowingly being committing fraud? What about interest etc as it's a high interest account. Should the bank have spotted the error before now considering a year has passed through auditing etc. It was quite surreal seeing my savings doubled :lol:

I guess I just inform them and they right the error.

Interested on your thoughts before I get thrown in the clinker :)

Tim.
 
their mistake, not yours Tim. Sounds as though its only an admin error anyway, if they really have doubled your money id delete this post & keep quiet about it :lol:
Rob
 
Smartbear said:
their mistake, not yours Tim. Sounds as though its only an admin error anyway, if they really have doubled your money id delete this post & keep quiet about it :lol:
Rob
Click to expand...

:lol: Thanks Rob, just curious if whats entered on the passbook is recorded on their central system or just the passbook itself, if so how come it hasn't been picked up after 12 months. I wonder if I left it and waited until the next interest is recorded if its picked up then and whether the interest would have doubled :D Unsure if it would be different if it was an everyday current account.

Tim.
 
I thought pass books went out with ration books,Stafford must still be in the dark ages.For the crime of not owning up you should be put in the stocks for a day . :rofl:
 
Hand written pass book? branch? sounds like a slip of the quill or abacus fault, do you live in the 1920's :wink:
 
:rofl: Its with the Coop, I had a number of savings accounts and ISAS with Britannia until they went tots up so transferred it all over to the Coop. They gave me a passbook for the ISA :D When you go into the branch the cashier feeds it into teleprinter type machine :lol: Its not handwritten otherwise I would be making 3s into 8s and adding extra 000s :lol:

I think its actually classed a fraud if you don't tell the bank of an error even if you don't spend the money etc.

Tim.
 
You are stuffed Tim, see you in 20 years.

But seriously, if it shows up in your passbook (I do recall such things) and that is printed on their machine then that is a reflection of what they think your balance is. Happy days.
 
dr_john said:
You are stuffed Tim, see you in 20 years.

But seriously, if it shows up in your passbook (I do recall such things) and that is printed on their machine then that is a reflection of what they think your balance is. Happy days.
Click to expand...

I don't think I could make a bar of soap last 20 years, I'll be 72 then but on the bright side being looked after :lol:

Well its nice having what's printed in the passbook but a shame I can't spend it :(

Tim.
 
You must log in or register to reply here.
Back
Top Bottom