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My house note comes out of my banking account automatically every month on a specific date. In July 2018, I checked that days transactions as I do every morning and noticed that the note was paid and the funds had been deducted from my account. The next day the funds were back in my account and the transaction was no longer even showing on my ledger. My mortgage company has confirmed that the transaction was successful and they have been paid. I have contacted my bank several times about it only to be told they don't make mistakes like that and what I am saying isn't even possible. So here I am, still seeing this money lay in my account and getting tired of arguing with them about and having them talk to me like I am stupid. I live on a fixed income. I WOULD KNOW if I had that much extra money show up in my account. Just wondering what I should do or if anyone had any similar experiences. thanks
My house note comes out of my banking account automatically every month on a specific date. In July 2018, I checked that days transactions as I do every morning and noticed that the note was paid and the funds had been deducted from my account. The next day the funds were back in my account and the transaction was no longer even showing on my ledger. My mortgage company has confirmed that the transaction was successful and they have been paid. I have contacted my bank several times about it only to be told they don't make mistakes like that and what I am saying isn't even possible. So here I am, still seeing this money lay in my account and getting tired of arguing with them about and having them talk to me like I am stupid. I live on a fixed income. I WOULD KNOW if I had that much extra money show up in my account. Just wondering what I should do or if anyone had any similar experiences. thanks
If you get benefits where you are required to keep a low amount in your checking accounts I would withdraw that amount and keep it somewhere safe, otherwise I would not mention anything else about it and keep it with the thought that if they do an audit and find the money missing that you may have to pay it back. For now I would do nothing else but keep documentation that it was paid and posted to your mortgage account.
Wells Fargo has been known to mess up every now and then. Has happened to us as well as others we know in the past. I have no accounts through them currently, now will I in the future. IMO they are horrible.
My house note comes out of my banking account automatically every month on a specific date. In July 2018, I checked that days transactions as I do every morning and noticed that the note was paid and the funds had been deducted from my account. The next day the funds were back in my account and the transaction was no longer even showing on my ledger. My mortgage company has confirmed that the transaction was successful and they have been paid. I have contacted my bank several times about it only to be told they don't make mistakes like that and what I am saying isn't even possible. So here I am, still seeing this money lay in my account and getting tired of arguing with them about and having them talk to me like I am stupid. I live on a fixed income. I WOULD KNOW if I had that much extra money show up in my account. Just wondering what I should do or if anyone had any similar experiences. thanks
I would send a certified letter to them explaining the situation and requesting a written explanation. Once you have their response in writing, move on and keep the money if they claim no adjustment is needed.
You, at least, were wise enough to check your account frequently.
Don't spend the money. Your mortgage company will figure out soon enough that there was a glitch and will demand payment.
Not only do banks make mistakes but mortgage companies are even worse.
OP stated the mortgage company claims payment was received.
I had a similar episode recently. I deposited a check for a significant amount from DH's business. The deposit showed up online but was immediately taken back out. It never left the business account. There was no explanation for why whoever processed the deposit did that. It took two days to get the deposit corrected. One phone call did it.
OP, I would suggest physically going to a branch for your bank and talking to a manager. Take proof from the mortgage company that that payment was received.
Yes, banks make errors, so you have to keep track yourself and monitor. In a previous position, I reconciled hundreds of accounts to bank statements every month and often found bank errors.
These errors included posting incorrect amounts, posting debits or credits to the wrong account, not posting something that should have been or double posting one item. There even was a case of fraud, but not sure if that was the bank's fault or not.
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