
I mistakenly transferred funds to one of my saved beneficiaries using my banking app. I notified the bank. The bank contacted the beneficiary to activate the account since it has been dormant for a long time of which he obliged.
Yesterday I contacted the bank and they said the account of the beneficiary had some arrears and the beneficiary should clear those arrears first before they can reverse the transaction. The beneficiary has since indicated that he has no funds to pay those arrears. This is unfair and disappointing since am the one who sent these funds erroneously. I really need this money. Please assist.
I'm sorry to hear about this. Unfortunately, there's probably little that can be done in this situation. The bank didn't make a mistake when they processed this transaction for you, their computer system simply followed the instructions you gave it.
It's also not their fault that the person who received it owed them money in their dormant account and when it was reactivated, they took the money to pay off their debt. That's standard practice with banks, they can take money owed to them from wherever they can find it in the customer's accounts.
However, I'll contact the bank for you and see if anything can be done. But please don't get your hopes too high.
They took my money twice!
Hello Richard. I opened a funeral policy with an insurance company and to my surprise they deducted the premium twice from my account in May. I called my agent to lodge a complaint and she told me that she is unable to help me and I should search for their contacts on Facebook.
Since the beginning of June they have been sending me from pillar to post just to refund me because apparently they captured my policy twice. They say for them to terminate the duplicate they will have to deduct twice again end of June and the waiting period is 30 days for termination. I need help because I feel robbed and tired of pestering them for my refund.
I really don't why some companies like to make things so complicated. This is a very simple problem and the solution should also be very simple. All they need to do is to cancel one of the deductions and then calculate how much they need to refund you. And then they just need to pay you.
I also think this idea that you should wait for 30 days for termination is unacceptable. Section 14 of the Consumer Protection Act says that a company must offer services to consumers "in a manner and quality that consumers are reasonably entitled to expect". It's reasonable to expect that a company that makes a mistake, particularly one that costs the consumer money, needs to fix that problem quickly, not after a month.
I'll contact the company and urge them to stop fooling around and fix this for you.
You also need to get a better agent. If all they can do to help you is suggest you search on Facebook, they need to think again. They were paid a commission for opening your policy so they need to earn that money by treating you with more respect.