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Question RE: Personal loan


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#1 Princessgirl

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Posted 05 December 2009 - 05:23 PM

So hubby has a personal loan with say $100 left on it to pay. We wanted to pay it out and be done with it so he went to transfer the $100 from our bank A to Bank B where the personal loan is. Except he transferred say $1000.00 dry.gif

We have rung our bank (bank A) and they are trying to stop the payment but what happens if it goes through to Bank B? Does anyone know?? Hubby only has this personal loan and a credit card with Bank B.

Can he transfer it back to bank A? or will Bank B credit this money and how?

A & B ~ 1st November 2008
Mini Princess A ~ 5th Jan 2010
Mini Princess H ~ 10th Feb 2014


#2 ~~KylieB~~

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Posted 05 December 2009 - 05:30 PM

I think normally they will issue you with a cheque for the overpayment, DH paid out his Credit card and paid a little too much and the bank sent us a refund. I would follow it up with the bank though as well
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#3 Princessgirl

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Posted 05 December 2009 - 05:36 PM

Thankyou. I tried to call Bank B but their phones are closed on weekends. I can call them on Monday but by then the damage will already be done if Bank A can't stop the payment.

A & B ~ 1st November 2008
Mini Princess A ~ 5th Jan 2010
Mini Princess H ~ 10th Feb 2014


#4 afterglow

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Posted 05 December 2009 - 06:33 PM

It won't matter, the loan account will be in credit by the overpaid amount and when he closes it, he will get the money back. Or he can have Bank B transfer it to Bank A smile.gif

#5 stacie

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Posted 09 December 2009 - 09:13 AM

Hope you got this sorted Princessgirl. Banks can be a little slow in returning the overpaid money to you, so you may need to put a little pressure on.
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#6 Princessgirl

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Posted 19 December 2009 - 05:52 AM

Thankyou for the replies. I rang bank B on the Monday and had them reject any payments coming through but it turns out Bank A caught it in time. It was only a $10 fee - i was happy to pay!

All sorted smile.gif

A & B ~ 1st November 2008
Mini Princess A ~ 5th Jan 2010
Mini Princess H ~ 10th Feb 2014


#7 kisma

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Posted 19 December 2009 - 10:22 AM

I know when i overpaid my GE account i rang up and got a cheque sent out for the overpaid amount. I would think that you will get it back if it cant be stopped.
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#8 masteff

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Posted 27 June 2012 - 09:18 PM

How i can avoid high interest rate for personal loan?
Loan Standard Chartered Bank




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