Tuesday, January 26, 2010

Bank Error...Collect $200

Bank Error...Collect $200...If you are playing Monopoly.

After returning home from Colorado on Sunday, I went through my mail. There were several envelopes from my financial institution. I recognized one as my bank statement, the other three, I wasn't so sure. I proceeded to open one of them to read about how the bank had made an error in calculating interest for a recently matured Certificate of Deposit. Fortunately the error was in my favor and attached at the bottom of the letter, was a check. Seeing that there were three CD's, there were three letters and three checks, all totalling less than $1.00!

Yes, it's true. Three checks. Three letters. Three sets of postage. And the greatest amount, $0.33. Seriously, I would have been OK with the bank not correcting their ways, they could have donated my $0.78 or whatever it was to Haiti or something else. But, I have to give them credit for acknowledging their error and correcting their mistake - since in the scheme of things, for some it may have been a huge impact. ME? Yeah, not so much.

But what has the economy come to that a Bank Error in Monopoly was once worth $200 and in 2010, my Bank Error was worth less than $1.00?????

1 comment:

Anonymous said...

I once got a check from medicaid for $0.01 interest because it took several months for them to pay a claim. Seriously, why bother? And what kind of interest rate earns me a penny for several months of delayed payment.