Leesider32
Registered User
- Messages
- 192
Thanks for your answers.
I had 2 very interesting conversations with the bank today.
First on my account online (never seen this on my statement) there was an arrears figure of -€5,400, so a credit. Asked why this wasn’t just taken off the capital balance and he said that a lot of times it wasn’t picked up and a lot of people left it there. I said I wanted it off the capital so that was no problem. Then I asked what is the interest rebate each month on my account, he said it was the difference between the capital amount the calculation was based off (before I made some capital payments) and the lower current capital amount. I pointed out that when I did the interest calculation my number was lower then what I am paying with the rebate included. He agreed it is and said he would call me back about it.
Second call he said the calculation was based off the higher capital amount and this would be corrected now. I asked why this wasn’t picked up and he said that a scan is done so you have to hope the scan happens or know this is the case and call them to ensure it has. I again pointed out the rebate amount difference and he said the rebate is capped. I said that is not much good to me when I was paying off some capital in good faith that this was being reflected in my payments. He is to check it out and call me back Tuesday.
Is this practice normal? Or even legal? I may have been paying more than I should over the last 3 years.
I had 2 very interesting conversations with the bank today.
First on my account online (never seen this on my statement) there was an arrears figure of -€5,400, so a credit. Asked why this wasn’t just taken off the capital balance and he said that a lot of times it wasn’t picked up and a lot of people left it there. I said I wanted it off the capital so that was no problem. Then I asked what is the interest rebate each month on my account, he said it was the difference between the capital amount the calculation was based off (before I made some capital payments) and the lower current capital amount. I pointed out that when I did the interest calculation my number was lower then what I am paying with the rebate included. He agreed it is and said he would call me back about it.
Second call he said the calculation was based off the higher capital amount and this would be corrected now. I asked why this wasn’t picked up and he said that a scan is done so you have to hope the scan happens or know this is the case and call them to ensure it has. I again pointed out the rebate amount difference and he said the rebate is capped. I said that is not much good to me when I was paying off some capital in good faith that this was being reflected in my payments. He is to check it out and call me back Tuesday.
Is this practice normal? Or even legal? I may have been paying more than I should over the last 3 years.