Sunday, 18 September 2016

The Saga Of TRYING To Close A Credit Card


Little Pan - the family bunny.
Completely useless creature but
provides love and laughs aplenty



Ha!  Ever tried closing a credit card account?  Here is a little story that will be of both warning and amusement value.

I am sure many banks are honourable and do the right thing - but this story shows what can happen and did happen to me.


Some of the girls.....


After joyously paying off a credit card in full, I skipped off to the bank in very high spirits to close the credit card account.  Here is what happened without a shred of exaggeration:


  1.   Bank ('which' bank I will not name  - hee hee) advised that there would be a final statement which would include any interest on the few days before my final payment.  Deflated a little, I agreed as this seemed logical.
  2.  When statement came out  three weeks later I physically went to the bank to pay the remaining $35.00 interest. Bank REFUSED to take my $35 cash over the teller and demanded I pay it by BPAY (them's the rules I was told)
  3. Was a good boy and paid the $35 that night by BPAY.
  4. Went into the bank the next day and asked to close the account. Bank REFUSED to close the account as they said funds had not cleared and could take 4 working days.  Now I am beginning to be not happy.
  5. Left it for a week then went back into the bank and asked for credit card to now be closed. Bank launched right into trying to sell me other products (insurance, loans, mortgages, investments....) "No thanks".  Cheery Bank employee then turned off the twinkling smile and fiddled around on the computer for a minute or two then tersely advised me that the account was now closed.
  6. Asked bank for that in writing. Bank REFUSED and advised that I would get a final statement stating this and the account would disappear off my  internet banking.
  7. Checked online when I got home, and yes, the credit card account had indeed gone. Woo Hoo!
  8. A few weeks later I got a statement -  credit card was account $35 in credit - what the!!??
  9. Rang the bank and was advised that I did not need to pay the interest that I had been previously advised I had to.  The interest had been credited back.  Bank REFUSED to give refund over the phone and advised I needed to go into a branch for that. Sigh
  10. Went into the branch a week later and explained the whole thing.  Bank advised that since then the yearly fee had now dropped in and I actually now was owing $50!!  I saw red.
  11. Asked the Bank how a closed account could attract a yearly fee and was advised that because there was a $35 credit on the account that the account could only be deactivated for further use but not closed - Seriously?!
  12. Advised that I would not be paying this seeing as the account was still active due to the Bank crediting the interest against their previous advice. Bank advised would look into it for me.
  13. Four weeks later got another statement still showing the yearly fee PLUS interest on the unpaid portion of the yearly fee! Now officially furious.
  14. Stomped down to the bank like a screaming banshee, slapped the statement on the counter and let rip.  Bank instantly sprang into action probably due to 20 customers in the bank rubber-necking to see what was going on. I was beyond caring.
  15. Bank has now assured me that the account is finally closed and all is settled.
I still await a final statement.....hmmmm.



A fresh hot loaf of bread made from scratch.


Anyway....off to take my blood pressure tablet now. Even relating the story back makes me instantly emotionally unintelligent.  Meh.


Take care folks and stay nice (mostly!)


Mr HM






22 comments:

  1. Oh, dear. I did chuckle reading it though because sometimes you have to laugh (otherwise you'd cry or explore) right? I think this "technique" is officially known as the run-around! Meg:)

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    1. As frustrating as it is, it is also pretty funny - I agree Meg.

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  2. Oh man that is enough to drive even the calmest person to their wits end. I hope that it is all sorted for your sake and the teller you have to go back to if it is not.

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  3. I think my bp went up in sympathy!!! I would have been using the words BANKING OMBUDSMEN at about stage 3 I think.

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  4. Wow I can't believe the run around you got! And the nerve to then continue to pile fees on top of it all...
    Going in to the bank is useless. They can't help you.
    I had no problem when I closed my credit card account. One phone call to... 'which' bank was it? ;)
    And a few days later the confirmation letter arrived in the mail.

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  5. I bet I know which bank it was. we had similar trouble with commonwealth bank. Ann

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  6. What a pity you didn't have the satisfaction of then telling them to close ALL your accounts as you are not impressed with their incompetent handling of your simple request.

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  7. What a pity we can't pass on charges to institutions and services for our wasted time. Grrrr

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  8. Hope they can change your postal address without this kind of drama. Took us two years to get our bank to understand the PO Box was for our mail! Ruth

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  9. yes, they can try us, can't they, treat us like idiots most do but surprising how quick they react to an angry customer who knows what is what!
    well done
    couldn't help but giggle through this reenactment
    thanx for sharing

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  10. Ha ha Mr.HM. That reminds me of the time when I went into the Telstra shop to return a rental phone as we had bought our own and I was told they couldn't deal with it but that I had to go over to the phone in the store and ring the call centre. I couldn't believe it. Talk about inefficient!

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  11. It's the same here in UK, they love it run rings around you

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  12. Got our credit card statement in. Will admit that in the past 2 months Credit Card was a LITTLE over the limit and expected an over limit charge. This month paid extra so it would be below our limit and was pleased only to receive the statement to say I had been charged the 6 month account fee which put me above the limit and so they once again charged me an over the limit fee!!!!! Needless to say I am going to make sure it is $200 BELOW the limit this month. Once we have paid another $500 we are going to drop the limit. WE did that once before and the bank said " you will have no credit available" and we said " exactly" :-)

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  13. What can I say HM, I fear it is only going to get worse. They want us to be a cashless society. Goodness what a mess we'll be in then, especially if the computers go down, which seems to be happening quite a bit these days.
    Blessings G.

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  14. And the bank people shake their heads in wonderment that customers are so unhappy. Hope all is finally resolved.

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  15. Debbie in the U.P.19 September 2016 at 11:40

    I have bank stories, too. I won't write about them because I felt my blood pressure rise just reading about yours! They're blood suckers, IMO! And, that's being nice! (mostly!)

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  16. I've worked in customer service before, and a lot of poor service is due to being trained poorly. Which is why I always go through several people in the same institution, until I get what I want. Ask to speak to a supervisor, and then ask to speak to the manager if the problem still isn't resolved.

    They don't expect you to shake the tree, which is why they get away with sharing such misinformation about their service capabilities in the first place. Good on you for cracking down on incorrect information, and holding the bank accountable to their own advice.

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  17. I had a similar experience trying to close an old NZ card that suddenly started charging me feed. I couldn't close it over the phone as I'd forgotten my secret word. I had to drop into the bank when I was on holiday a couple of months later. I had $15 in the account for some reason and I could only receive that in a cheque in $NZ made out to my maiden name. I had no account in NZ and couldn't deposit to my parents account. Back in AU I found out the charge to convert the foreign cheque was $10. So after exchange rate I would get about 30c. Thanks bank!$#@!

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  18. I had to change banks to close one of my accounts - they refused over & over again even though it hadn't been used - but they were charging fees - it was with great pleasure when I closed all accounts including all my business accounts as well - ditched credit card - so no more interest or annual service charges - my observation is that complaints fall on deaf ears - at any level

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  19. OH MY GOSH!
    They are such crooks!
    It's no wonder people find themselves in financial difficulty, I feel for the people who aren't capable of handling situations like this, and who are being rorted by the system.
    Shame on the banks!

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