Go to Jeff Salisbury LWGate Home Page.From: "Sheth, Kalpesh" <sheth@lucent.com>
Subject: another online banking question
Date: Tue, 19 Jan 1999 09:56:18 -0500
Next Article (by Subject): Re: Cancelled checks, proof of payment David Martin
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Hi,
This time I really felt pinch of online banking. I used them to pay for my
extra payment towards mortgage. I scheduled it for 12/28/98. Bank took money
from my account on that day and "tried" to make a payment to my mortgage
bank. I also scheduled my regular mortgage payment on the same day for the
same bank at the same address. Basically two payments were scheduled on the
same day to same payee. To my surprise following was the result,
(1) My regular mortgage payment was received by the mortgage bank on
01/08/99 (after 10 days)
(2) Extra payment (which was made on the same day also) never got to the
mortgage bank. After my
repeated phone calls to both banks, finally I got my bank to agree to
put a stop payment on the old
cheque and issue another cheque and overnight it to the mortgage bank,
which those guys finally
received on 01/15/99.
Now throughout this ordeal big chunk of money was gone from my account (on
12/28/98) and was not deposited to my mortgage account until after a long
delay. I continued to pay interest on whatever principal I had, until they
received my extra payment, which was supposed to have been applied towards
my principal, and they did only on 01/15/99. It is really odd that my
regular mortgage payment was received and not the other one, though both
were issued on the same day by my bank!!
Question is what are my options? Is there anything I can do to make things
right?
Thanks,
- -Kalpesh Sheth
sheth@lucent.com
- -
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