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Post by idahomom on Oct 15, 2015 14:56:47 GMT
At least temporarily electronically. The bank obviously made a mistake and posted a payment to my credit card of $125,062.00. I called and they thanked me for my honesty. They would track it back to my account eventually right? I wish I had that kind of money to carry a balance like that and make a payment like that!  At first my heart jumped out of my chest because I thought it was the balance and someone stole our info. The banker was so casual in saying it's a payment to your account. Then I said I didn't make the payment, it's not my money. If only!!  |
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scrappert
Prolific Pea
RefuPea #2956
Posts: 7,792
Location: Milwaukee, WI area
Jul 11, 2014 21:20:09 GMT
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Post by scrappert on Oct 15, 2015 14:58:55 GMT
Nice! That would shock the shit out of me if that happened! LOL!
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Post by annabella on Oct 15, 2015 14:59:06 GMT
Nice!
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Post by compeateropeator on Oct 15, 2015 15:05:33 GMT
Looks nice on paper...sorry it isn't for real.   Yes I bet they would find it, unless they didn't reconcile their internal accounts, which is highly unlikely. How long it would take them to find it might be another story. |
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tincin
Drama Llama
Posts: 5,368
Jul 25, 2014 4:55:32 GMT
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Post by tincin on Oct 15, 2015 15:56:26 GMT
Congrats on the windfall. Like you, I would have been stunned. Can't believe you're not going to rush out and spend it like some fools have. Then they whine when they get caught. Amazing.
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Post by idahomom on Oct 15, 2015 16:46:05 GMT
Mystery solved. I made a payment to my credit card of $125.62. Someone input the decimal wrong and made the payment $125,062. So, right now my checking account is overdrawn big time and I have about 10 items out there that could be returned insufficient. Have to wait now 2-5 business days for things to reverse. Now my heart really is racing.
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Deleted
Posts: 0
May 19, 2024 21:45:20 GMT
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Post by Deleted on Oct 15, 2015 16:47:27 GMT
How did you make the payment?
I'm completely shocked that your bank's system paid something that size into overdraft.
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Post by idahomom on Oct 15, 2015 16:58:23 GMT
I paid online. I can't say 100% that I didn't make the mistake, but how could I not notice $125,062.00 compared to $125.62? And yes, I'm not sure why the bank where my checking account is didn't just decline it since I don't have the funds to cover it. When all is said and done we will get a credit card with the same bank as our checking account. That way things like this are easily fixed by a transfer from account-to-account.
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Deleted
Posts: 0
May 19, 2024 21:45:20 GMT
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Post by Deleted on Oct 15, 2015 17:03:50 GMT
I paid online. I can't say 100% that I didn't make the mistake, but how could I not notice $125,062.00 compared to $125.62? And yes, I'm not sure why the bank where my checking account is didn't just decline it since I don't have the funds to cover it. When all is said and done we will get a credit card with the same bank as our checking account. That way things like this are easily fixed by a transfer from account-to-account. Do you have your email confirmation/receipt from your payment? The decimal/zero is a common typo. Generally speaking, everything is automated after you submit your payment, so it would be surprising (but not impossible) if there could be an error in that process. |
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lesley
Drama Llama
My best friend Turriff, desperately missed.
Posts: 7,181 
Location: Scotland, Scotland, Scotland
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Post by lesley on Oct 15, 2015 17:06:30 GMT
Just as well you didn't rush out and spend it, given it was kind of your money after all!
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Post by pierkiss on Oct 15, 2015 18:29:55 GMT
I would be so freaked out by that! I would have sprinted down to the bank to fix it!
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grinningcat
Pearl Clutcher
Posts: 4,663
Jun 26, 2014 13:06:35 GMT
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Post by grinningcat on Oct 15, 2015 18:33:24 GMT
I'll be completely honest, I know it's the right thing to do and I know they would track it down but I'd have a hell of a hard time doing the right thing and calling the bank to make it right.
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azredhead
Drama Llama
Posts: 5,755
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Post by azredhead on Oct 15, 2015 18:34:49 GMT
It's like that Monopoly card the Bank error in your favor!  My heart would have stopped to. Yea it's a good thing you didn't go on a shopping spree. to tempting though. |
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Post by idahomom on Oct 15, 2015 18:36:24 GMT
I do not get any type of receipt. The credit card bank cannot explain what happened, but said it can happen. I did run right to the bank where our checking account is. Unfortunately my credit card is not through a local bank. We've had it forever and the bank has left this area. Everything will be fixed, but it's waiting their "2-5 business days." I do hope to see it reversed tomorrow. Any vendors that may try to clear a check or debit have been notified and I won't incur any charges. Wells Fargo also will not assess any overdraft charges. Everything will be fine, its just waiting for it to reverse.
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oaksong
Drama Llama
Posts: 6,164
Location: LA Suburbia
Site Supporter
Jun 27, 2014 6:24:29 GMT
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Post by oaksong on Oct 15, 2015 18:37:05 GMT
I was thinking maybe you won the lottery! Oh well.
I did the same thing in paying a bill in online banking yesterday, but it gave me an alert notice to verify the amount, so I was able to correct it.
Ugh, what a pain! I hope they straighten it out for you quickly.
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Post by katyscrap on Oct 15, 2015 18:58:31 GMT
Yikes! That's scary. Glad it will all be fixed in "two to five business days"  |
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Post by idahomom on Oct 15, 2015 19:03:15 GMT
The more I think about it, I know I didn't type that mistake in. I'd have to type 3 extra characters - 125,062.00 versus 125.62. There's just no way. When you're paying such a high amount you're very careful.
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Post by ktdoesntscrap on Oct 15, 2015 19:09:05 GMT
Mystery solved. I made a payment to my credit card of $125.62. Someone input the decimal wrong and made the payment $125,062. So, right now my checking account is overdrawn big time and I have about 10 items out there that could be returned insufficient. Have to wait now 2-5 business days for things to reverse. Now my heart really is racing. Oh No... that sucks.. I hope the bank works with you and puts a hold on things and doesn't return thm. |
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Deleted
Posts: 0
May 19, 2024 21:45:20 GMT
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Post by Deleted on Oct 15, 2015 19:15:56 GMT
I do not get any type of receipt. The credit card bank cannot explain what happened, but said it can happen. I did run right to the bank where our checking account is. Unfortunately my credit card is not through a local bank. We've had it forever and the bank has left this area. Everything will be fixed, but it's waiting their "2-5 business days." I do hope to see it reversed tomorrow. Any vendors that may try to clear a check or debit have been notified and I won't incur any charges. Wells Fargo also will not assess any overdraft charges. Everything will be fine, its just waiting for it to reverse. Your credit card issuer doesn't send you an email confirmation of your payment?!? I thought every institution did that. Glad you got it all figured out. |
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Post by idahomom on Oct 15, 2015 19:17:24 GMT
The bank is being very helpful. Most things outstanding are payments to the credit card (both banks will wipe any charges). I have a couple of checks for medical bills and I called those places and they're being very generous and holding the checks until I call back and give the ok. And I have a couple of utility automatic payments that will come out today or tomorrow and my bank says those should be fine. I'm a bit upset that Wells Fargo would even run this payment and show us $100,000+ overdrawn. Payment should have been denied.
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Deleted
Posts: 0
May 19, 2024 21:45:20 GMT
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Post by Deleted on Oct 15, 2015 19:18:58 GMT
The more I think about it, I know I didn't type that mistake in. I'd have to type 3 extra characters - 125,062.00 versus 125.62. There's just no way. When you're paying such a high amount you're very careful. Actually, you wouldn't. If you typed 125062 instead of 125.62 - which is really easy to do because the 0 and decimal are right next to each other - and then hit enter or tabbed out of the field, almost all financial institutions' sites would interpret that as dollars, so $125,062.00. It's the same number of keystrokes. |
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Deleted
Posts: 0
May 19, 2024 21:45:20 GMT
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Post by Deleted on Oct 15, 2015 19:22:45 GMT
I'm a bit upset that Wells Fargo would even run this payment and show us $100,000+ overdrawn. Payment should have been denied. You must be a very good customer  I work for a national bank - not Wells - and we have an automated system that determines if things are paid into overdraft or returned unpaid. Customers can opt-out of OD protection all together, but if they don't, we have a complicated algorithm based on customers' normal usage/balance/deposit patterns that determines how much to pay into OD. I can't think of any situation where we'd pay that much into OD on a personal account. You may want to talk to Wells about opting out of OD all together, so things are returned if there are insufficient funds, or see if they have an option to add a hard limit to what can get paid into overdraft. I'd be damn pissed at Wells if I were in your shoes, even though it sounds like they are taking pretty good care of the situation. |
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Post by idahomom on Oct 15, 2015 19:23:55 GMT
I'm so very anal about our accounts. I log on and look at things almost daily, balance to the penny. Unless I had a menopausal black-out/crazy/dumb moment, there's just no way. I guess anything is possible though. Thankfully we've been loyal customers to both banks for almost 30 years with never an overdraft problem. I saw Wells Fargo's screen with my account pulled up and in large green letters it said something like "long time customer in very good standing." We've been with them since they were First Security, then First Interstate, now Wells Fargo. It will all turn out - just a waiting game.
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Post by katieanna on Oct 15, 2015 19:24:55 GMT
Mystery solved. I made a payment to my credit card of $125.62. Someone input the decimal wrong and made the payment $125,062. So, right now my checking account is overdrawn big time and I have about 10 items out there that could be returned insufficient. Have to wait now 2-5 business days for things to reverse. Now my heart really is racing. Oh, no! But that makes sense with the input error that the bank made. I hope they get it straightened out soon. In the meantime, I would call the creditors of the other items and let them know. So many companies charge a fee for insufficient funds. Hopefully, you will avoid the fees. ETA: Just read your other posts so just ignore the above. |
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Post by idahomom on Oct 15, 2015 19:25:42 GMT
That's what I'm stumped on. We have a daily spending limit of $25,000 so how could they run something for $125,000???
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Deleted
Posts: 0
May 19, 2024 21:45:20 GMT
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Post by Deleted on Oct 15, 2015 19:33:56 GMT
I'm so very anal about our accounts. I log on and look at things almost daily, balance to the penny. Unless I had a menopausal black-out/crazy/dumb moment, there's just no way. I guess anything is possible though. Thankfully we've been loyal customers to both banks for almost 30 years with never an overdraft problem. I saw Wells Fargo's screen with my account pulled up and in large green letters it said something like "long time customer in very good standing." We've been with them since they were First Security, then First Interstate, now Wells Fargo. It will all turn out - just a waiting game. All I'm saying is it could have been a slip of a finger that hit a 0 instead of a decimal and that's all it would take. I'm anal too and keep on top of all our accounts and I work in finance to boot. And once I accidentally scheduled a customer wire for $4,500,000 instead of $45,000.00 because I missed the decimal. It was just a typo. THANK GOD our wires department flagged the transaction before it went out and contacted me about it or I probably would have been fired. Mistakes happen even when we're normally exceptionally careful people. |
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azredhead
Drama Llama
Posts: 5,755
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Post by azredhead on Oct 15, 2015 20:06:54 GMT
Yikes! That's scary. Glad it will all be fixed in "two to five business days" Don't ya hate that cause then if their mistake they're REALLY slow to fix it.  |
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Post by rainangel on Oct 15, 2015 20:33:26 GMT
Years ago there was this news story in Norway about a young man (I think he was an apprentice carpenter) who tried to withdraw a small amount of money from an ATM, just enough to buy lunch with. The ATM gave him an error message telling him the amount was too low. Which he found strange, since he withdrew the same amount on a regular basis. He asked the ATM to give him his account balance, and there were MILLIONS in there. Shocked, the young man got in touch with his bank, and it turns out.... the entire months worth of wellfare and benefit payments in THE COUNTRY had gone in to his account because of a type-o in the account number. We had about 4 million inhabitants in Norway at the time, and this was not just social wellfare money, it was also the government child support that the parents of every child under 18 is given (currently about $115 per child), and some other government benefits. This happened probably 20 years ago now, but the government official who made the mistake said it was an easy mistake to make, but also very easy to find out where the money went. I think the guy had a couple of hundred million Norwegian kroner in his account for a couple of hours. So, something like $25,000,000. I would be getting an account balance on paper, just to brag about the day I was a multi-millionaire |
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AnotherPea
Pearl Clutcher
Posts: 2,968
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Post by AnotherPea on Oct 15, 2015 20:46:51 GMT
Mystery solved. I made a payment to my credit card of $125.62. Someone input the decimal wrong and made the payment $125,062. So, right now my checking account is overdrawn big time and I have about 10 items out there that could be returned insufficient. Have to wait now 2-5 business days for things to reverse. Now my heart really is racing. Oh no! I hope it gets sorted out soon |
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Post by Yubon Peatlejuice on Oct 15, 2015 22:46:58 GMT
Mystery solved. I made a payment to my credit card of $125.62. Someone input the decimal wrong and made the payment $125,062. . [ yeah, that someone can only be you. It's all automatic. There's no one else to blame here. Mystery solved, indeed. |
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At first my heart jumped out of my chest because I thought it was the balance and someone stole our info. The banker was so casual in saying it's a payment to your account. Then I said I didn't make the payment, it's not my money. If only!!
Yes I bet they would find it, unless they didn't reconcile their internal accounts, which is highly unlikely. How long it would take them to find it might be another story.
My heart would have stopped to. Yea it's a good thing you didn't go on a shopping spree. to tempting though.
I work for a national bank - not Wells - and we have an automated system that determines if things are paid into overdraft or returned unpaid. Customers can opt-out of OD protection all together, but if they don't, we have a complicated algorithm based on customers' normal usage/balance/deposit patterns that determines how much to pay into OD. I can't think of any situation where we'd pay that much into OD on a personal account. 
