I made a payment over the phone to a HELOC for $150, but the bank withdrew $1150 out of my personal account. Is the HELOC bank responsible for overdraftfees accessed due to their error? Are they obligated to pay interest on the extra $1000?
If you went through the correct processes and verified that only $150 was to be paid, the bank should correct the entry. Fees should be refunded, there should be no interest lost or gained on your part for the error and anyone who had a check returned to them in error should receive a letter from the bank.
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If you went through the correct processes and verified that only $150 was to be paid, the bank should correct the entry. Fees should be refunded, there should be no interest lost or gained on your part for the error and anyone who had a check returned to them in error should receive a letter from the bank.
