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What do you do when the cashier hands you back too much change? Do you hand it back as soon as you realize the mistake? When the cashier doesn't scan the most expensive item, or what should have been $50 rang up as $5, do you do the happy dance or do you go to the customer service desk and fork over $45? 
Their solution was an easy one, and one without any accountability. OK, all set, we reactivated your mortgage and initiated an investigation, thank you for calling Citi. My friend asked if she would be getting a phone call back after the investigation was finished, and the answer was a short, curt "NO". She was told she would get a letter.... later.... I know her, that phone will be ringing to Citi on a daily basis until they explain what happened. I did warn her to also make sure that the balance they reactivated was the correct amount. Just to be on the safe side.
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61 Comments on Wait, you gave me $150,000 too much!
That is really weird, and somewhat unnerving too! I'm not sur banks are all that great about accuracy. Loan officers will tell you that you can pay down your loan early and be done several years earlier by adding "x" amount to your payments. I'm not convinced the bank will actually do the calculations right!
Hey Andrea, I included this post in Last Week's Favorites. Have a great week!
Unbelievable! We had a settlement attorney in Silver Spring some years ago that was not paying off the mortagages for the sellers who settled with his firm. He was depositing the money in his own account. It took quite a long time to figure it out. He was able to get away with it for about 6 months - then he disappeared to (we think) South America. He left a wife and 2 kids behind. No one could believe he had done this!! He eventually came back to the US was aressted and admitted to it all. What a mess that was! You just never know!
Andrea Hear something to think about, What if the title company has already record the Satisfaction of Mortgage? Maybe requires new Mortgage and a new Note. My guess is that it all start with the wrong account number for a payoff amount, that would explain the exact amount and the wrong account credited.
As to your question Yes I would return what is not mine. Only one time did I not correct a clerk then the when the price was wrong, after very poor customer service I had to wait 45 minutes to get the product, and then beg for service.
I have to say being taught to do what is right, I do hand the cashier back extra change or tell them they undercharged me. And if I got a letter like your friend, I'd call and find out what happened... and you can bet I would keep calling until I got answers on what happened. I sure hope the person who made that major of a mistake (can only image the reaction of the person who did pay off their mortgage and didn't get the credit) has to be accountable for their error. It also makes me wonder if your friend wouldn't have called to inquire now and been honest, if it wouldn't have been a bigger mess later on. Good for your friend!
Wow, what an incredible story, Andrea. You'll have to keep us posted on what really happened.
Last week, unfortunately, we had a minor incident where a company charged one of my customer's credit cards twice (long story)...so on Friday, I learned that I owed an extra $5,700. Not fun.
Oh my, look at all these comments! Thank you everyone. I have an update, and it's not good. They did not reopen her account, and her mortgage payment is just about ready to hit the lender. Stay tuned for part 2..... I am appauled...
Andrea, good story. There is some crosswiring in one of Citi's computers obviously. Please keep us posted as to Part 2!
Normally, I would pay the amount in error. But the way this phone call sounded, I would be afraid I would end up with two mortgage balances owed. The trust level for banks is so low already, and then to get a screwup like this, I don't know what I'd do.
If there's ever more to this story, I'd love to hear it!
It sounds as though this may be a good time for a Real Estate attorney to get involved. I sent you a few local names.
Better than what Wells Fargo did to me. Two mortgages and they started taking my payments and applying them to only one of the mortgages. Then send me threatening letters about non-payment, late fees blah blah blah. Finally straightened out but then had to go back to them and get them to take it off my credit report. No explanation of how they screwed up automatic payments ever.
I updated with a new post here... Part deux
You know I try to give money back when they give me too much change. Believe it or not I have had clerks not know how to handle this or asure me it is OK. At that point I walk away. I don't have the time to train their employees.
In this world of overworked/underpaid people, these mistakes are bound to become more frequent. My sister recently had $130,000 deposited into her account and then two days later another $70,000. It was a wire error from Ohio and it was eventually resolved but it required my sister to make several trips to her bank to sign paperwork that made her anxious. She didn't want to have to pay an attorney to review docs and lose money over someone else's mistake and so she signed away. Eventually the money left her account and, I'm sure, landed where it was supposed to but it opened my eyes to what a little "type-o" can do.
I'd say get a real estate attorney involved! It may be suprising what they uncover. Looking forward to the update.
ANdrea - I have never heard of this...unbelievable.. I went to this post from your Part Deux simply unbelievabe..
I've never heard of anyone getting a letter like that. I would be suspicious, unless there was a release recorded which she should have gotten in the mail. My first response would be to call Citi.
Holy cow! That is quite the mistake that Citi made! I'm off to read Part Deux. - Kasey
Hi Andrea. This just blows my mind. To think that the bank acted the way they did in handling her call! I guess one would expect no different these days. I can not wait to read the conclusion!
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