Truck payment posted to the wrong account
I woke up this morning, much earlier than usual thanks to Stacie’s alarm (she has to work today), and instead of doing work, I decided to log in to my online accounts to reconcile some financial information. Good thing I did!
I logged into my credit union’s site to see the balance on my truck loan. The first thing that popped out at me was the payment due showed about $888! I then scanned up to my savings account and saw that it had about $450 more than it should. Hmm, I wonder where the money went….
Unfortunately, the CU doesn’t open its doors this morning until 9:30am (it’s 8:30am right now), but I have to drive past there on my way back from Home Depot anyway. Hopefully I’ll get this straightened out with no penalties or dings against my credit.
UPDATE: I stopped off at the CU, walked up to what appeared to be the receptionist (never made it to a counter, and I’ve never actually been IN the CU before), and asked which way I should go. She asked what the problem was, I told her, and she said she could handle it right there. Oh, and they have a 7-day grace period, so it was good I checked the balance this morning.
She transferred the $450 payment from the savings to the truck loan in abut 30 seconds, I signed an authorization for the transfer and I was done! I don’t think it would have been that easy in a regular bank. I was literally in and out in under 3 minutes.
Another great example of why it is so important to be “on top” of your personal finances. Glad you caught it before the payment was late.
Indeed, being on top of your personal financial status is very important.
In this case if you’re a good paymaster, you can always ask for a waiver of your late fees if you genuinely forgotten about it.
Will be checking this place as much as I can. Cheers 🙂
I’m glad it worked out so easy. I had a similar problem with Bank of America and my rent and they refused to help. I got charged a fee and my account was overdrawn so I got charged again. Even though my screen showed it was to be taken from the joint account, they said I was wrong because their screen said otherwise.
We left them some months ago and hadn’t had a problem since with ING Direct.
Did you figure out how this happened?
Nickel: I didn’t ask, but I think that I just didn’t have a clear memo on the check from online billpay to indicate it should be applied to the truck loan. The last check I sent them went to the MINI, and was marked appropriately. Honestly, I don’t see how they could have thought the $450 was for anything other than the $450 (actually, $445) truck payment that was due just days later.