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Having a REALLY bad day!!!

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  • seaturtle
    replied
    Re: Having a REALLY bad day!!!

    So glad you got that straightened out! Congrats on being mortgage free!

    Leave a comment:


  • songbird857
    replied
    Re: Having a REALLY bad day!!!

    Doing a happy dance for you - what a great feeling to pay off your mortgage!!

    Leave a comment:


  • snippet
    replied
    Re: Having a REALLY bad day!!!

    Originally posted by MaryUK View Post
    Well I went on line to view the bank balances and...........the mortgage has disappeared - it's been closed. Rang the banking team who advise the account must have been cleared to enable them to close the account so they MUST have now received my money. A very nice chap is ringing me tomorrow to confirm.
    Yayyyy!! I can sleep tonight!
    Yipee! A good sign indeed. So happy for you. Congratulations again on the wise financial decisions y'all have made.

    Leave a comment:


  • cashs mom
    replied
    Re: Having a REALLY bad day!!!

    Originally posted by TMP View Post
    Our bank held a check deposit for 9 days recently, only a very small part of the deposit was available in two days. Makes no sense to me. Rarely do I deposit large sums and I don't know the rules. DH said he thinks if we had the money direct deposited we would not have had that long of a wait. Maybe someone here is familiar with banking rules for deposits.
    I do a lot of banking for our company and our personal business. It's not unusual for a bank for hold a portion of the check for up to 10 days until the check clears. You probably wouldn't have had that long a wait if it had been direct deposited. Direct Deposit of ACH is usually available as soon as its in the account like cash would be.

    Leave a comment:


  • Judy, USMC
    replied
    Re: Having a REALLY bad day!!!

    I felt that it was just a delay ... but not knowing where the money went is disconcerting. Get a good night sleep, Mary! I'm sure you will get confirmation tomorrow.

    Leave a comment:


  • Midge
    replied
    Re: Having a REALLY bad day!!!

    Originally posted by MaryUK View Post
    Thank you for your kind words of support. It may be that our banking system is different to that in the US. We seldom use cheques these days, in fact some banks are doing away with them a altogether. It is possible to get a bankers draft but my account was an online only account so even if I had done it on the banks computer it would have still been the same route as I took. I paid half the balance off last year (another matured savings plan) and did it the same way as last week with no problem. The online facility we have in the UK guarantees payment into an account within 2 hours regardless of the time you do it - and it works!!
    I do 95% of my banking in the evening without a problem.
    Anyway I am going to check again in a minute then ring the bank who should have got my money - see what they have to say!! Will let you all know when it's resolved.
    Hope your transactions have cleared by now and all is resolved. It's kind of amusing to read all these reactions. If UK general banking is as advanced as the way the UK and Europe handles credit cards, they are way, way, way ahead of the US in efficiency and fraud protection. But still, for a regular person, these amounts are a bit frightening as the hours tick past and the transactions aren't yet posted.

    Leave a comment:


  • MaryUK
    replied
    Re: Having a REALLY bad day!!!

    Well I went on line to view the bank balances and...........the mortgage has disappeared - it's been closed. Rang the banking team who advise the account must have been cleared to enable them to close the account so they MUST have now received my money. A very nice chap is ringing me tomorrow to confirm.
    Yayyyy!! I can sleep tonight!

    Leave a comment:


  • MaryUK
    replied
    Re: Having a REALLY bad day!!!

    Thank you for your kind words of support. It may be that our banking system is different to that in the US. We seldom use cheques these days, in fact some banks are doing away with them a altogether. It is possible to get a bankers draft but my account was an online only account so even if I had done it on the banks computer it would have still been the same route as I took. I paid half the balance off last year (another matured savings plan) and did it the same way as last week with no problem. The online facility we have in the UK guarantees payment into an account within 2 hours regardless of the time you do it - and it works!!
    I do 95% of my banking in the evening without a problem.
    Anyway I am going to check again in a minute then ring the bank who should have got my money - see what they have to say!! Will let you all know when it's resolved.

    Leave a comment:


  • Suzette
    replied
    Re: Having a REALLY bad day!!!

    Congrats on paying off your mortgage!! And I agree with the others. I'm sure it was a typical delay. But I do all my banking online and do so very confidently. As said by someone else, even if you go into the bank, it is done online on their end. But we each do what we are comfortable with.

    Leave a comment:


  • kaydee
    replied
    Re: Having a REALLY bad day!!!

    I must be feeling particularly agreeable today, because I agree with all the comments so far. Most likely this is just a delay inherent in transfers. I expect it will work out just fine. I gotta say, though, you are a braver woman than I am. No way would I do that online. I get that banks make transactions over the internet, but their lines are much more secure than home internet services. For me, personally, I'm too much of a scaredy-cat. I gotta have the paper in hand. Let us know when you get the news. We might not be able to hear the big sigh of relief all the way across the pond.

    Oh, and congrats on getting your house paid off! That is my number one goal right now. Was hoping to do it in a year, but now another wedding and more home improvements will delay that timeline.

    Leave a comment:


  • TMP
    replied
    Re: Having a REALLY bad day!!!

    Our bank held a check deposit for 9 days recently, only a very small part of the deposit was available in two days. Makes no sense to me. Rarely do I deposit large sums and I don't know the rules. DH said he thinks if we had the money direct deposited we would not have had that long of a wait. Maybe someone here is familiar with banking rules for deposits.

    Leave a comment:


  • grammaterry
    replied
    Re: Having a REALLY bad day!!!

    I'm betting its the delay thing. Years ago we went into our bank and deposited $10K in an empty money market account. That was to activate it. That was a Thursday...on Saturday we got a statement that our money market was overdrawn . There was a $50 fee for the balance falling below a certain level. Well, on Monday we went in and demanded to knowwhat the problem was. They said that the deposit didn't get posted. I was livid. If they were able to activate the account then surely it would have been easy to post the deposit. It is a scam they use not to pay interest for those 3 business days. Well, over $50 they lost all of our accounts. The manager said they would credit us the $50 but DH said "No, if it was that important for you all to steal 3 days interest, then it is just as important to me that I find an honest place to do business." so...I think this is just business as usual and probably the money will show in a few days. Hopefully they won't ding you for the 3 days interest.

    Leave a comment:


  • snippet
    replied
    Re: Having a REALLY bad day!!!

    Congratulations on paying off your mortgage! That's a wonderful feeling.

    I'm sure the mortgage company will get the wire shortly. It will take a day or two. Don't worry too much, but yeah, keep on top of it.

    Leave a comment:


  • Caroline T.
    replied
    Re: Having a REALLY bad day!!!

    Originally posted by MaryUK View Post
    One of our savings plan matured a couple of weeks ago so we decided to use part to pay off the mortgage. Did the deed Thursday evening on internet bank and took the family out Friday evening for a celebration meal! Mortgage free after 41 years and various house moves!!!
    So far so good! Went on my account this morning and the payment isn't showing so rang the bank - they have no record of it - rang the bank where the savings was and they said it definitely went Thursday!! Have had to open an investigation to find the money. I know it is definitely somewhere and the savings bank say they can recall the payment but it has definitely upset my day!!!
    Well, actually, looking at the time line, if things are handled similarly in your part of the world as here in the U.S. then I'm not surprised the mortgage holder hadn't received payment yet by Monday morning.

    1. You did the online transaction Thursday Evening, which means your bank didn't get the request to send monies until Friday. In the U.S. many banks won't process this type of transaction after a certain time of day (my bank the cutoff is 2pm), and that's a phone in request. If it's an online transaction it wouldn't be done that same day either, for my, it's always two business days later (unless I pay a special fee, then it's next day)

    2. If your bank was lickety split quick, then if they wired or electronically sent the funds on Friday, the mortgage lenders may not receive the confirmation until Monday (again that time of day thing). But if your bank mailed a check to the lender, then the mortgage lenders are still waiting on the postal service to deliver the check.

    So yes, I can understand the delay, so try to be a bit more patient, but definitely follow up with the lenders!
    Last edited by Caroline T.; January 23, 2017, 07:26 PM.

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  • Hulamoon
    replied
    Re: Having a REALLY bad day!!!

    I sold two pieces of junk Arizona property online without meeting the realtor (in person) online and rented my Calif house twice doing the paperwork online. They have these cool Documents where you just use your little mouse to sign on the dotted line. lol

    I'm more afraid of the credit card fraud. I got caught up in one of those.

    Leave a comment:

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