Skip to main content

The corrupt banking system...

A few months ago I made the mistake of transferring the rent into our Bpay electricity account. I immediately rang our bank to see if they could reverse the payment. They said they could but it would take six weeks to reach my bank account. We're talking hundreds of dollars here, a fortune for people on low income. The different between being able to pay the rent or not.

The bank person told me I would be better off contacting the electricity company and getting them to refund the excess. So, I rang them and they said they could do and I'd have the money back in my bank account in ten business days. Two weeks without that money. Luckily, our rent wasn't due during those two weeks.

It was an ordeal and I could not understand how it would take two to six weeks to have funds refunded when we live in a technological age and in the end it's just numbers on a computer. Actually, while I'm on the topic, why do transfers between banks take so bloody long as well? Or cashing cheques?

Skip to this morning. I made the same bloody mistake. Now, I have savings so it's not as dire as before, but still it's a lot of money and hassle, and especially with the Easter long week ahead of us. We're probably talking more than three weeks now to get a refund from the electricity company.

And you know WHY they take so long - I bet I do! I bet they hold onto the money to get more interest on it. If this happens a lot (and it probably does because people, like me, get distracted by trying to remember how to spell the word electricity, then we're talking thousands and thousands of dollars in interest accruing.

The difference between last time and this time is that in the meantime I changed banks. I ditched Bank of Melbourne in favour of ING. On a chance, I rang my bank this morning and asked if they could reverse the transaction. They said they could. And then they did. And it was instant. The money was back in my bank account within seconds. They said as long as I ring back within an hour of making the incorrect transaction, they can reverse it.

To be completely clear here, I had rung my previous bank immediately after making the wrong transfer, I mean within minutes of the transaction, and they said they couldn't reverse the transaction for six weeks.

I was so relieved this morning, I was actually laughing over the phone.

And then I got angry... Angry that my previous bank had screwed me over like that. Angry that they were probably screwing lots of people out there like this. Angry that they were getting away with it.

With my new bank account, I pay no fees - no fees. With my old bank I paid hundreds of dollars a year in fees - true story. These big banks are getting away with murder because they can - no one is holding them to account.

This is not a sponsored post and I would wholly recommend anyone reading this to change banks. Leave the big four. Screw them - because right now, they're screwing you! Go to ING, do it now! Seriously, I'm just amazed at how easy it was to get MY money back.

Do yourself a favour.


Popular posts from this blog

The symbolism of elephants...

Just recently I've been seeing and noticing elephants everywhere!

A few weeks ago I saw the Samsung Elephant Ad, and watching that led me to watching a video with an elephant painting (seriously, you have to watch it to believe it!).

Then last night the boys told me they were having a free dress day at school to raise money for 'Mali the Elephant' - who turned out to be a paper maché statue which the children will paint and then show around the council before it comes back to the school to stand outside the performing arts room.

Then this morning I followed a link from Twitter to Toushka Lee's blog and read this post about an elephant orphanage in Sri Lanka.

This morning the Grumpy Old Man did another driving test and unfortunately didn't pass. We've booked his next test and are looking forward to that now. About ten minutes before he walked in the door I saw this poster on Facebook...

At the time, I didn't know if the Grumpy Old Man had been successful or …

Alone... And Stuff...

Do you ever just need to be alone?

As the boys are growing up, we have more times when the house is quiet. The youngest will be asleep. One will be reading, one will be playing on his computer with headphones on, one will be painting and there is stillness.

Sometimes, even that is not enough.

Sometimes I crave being alone, with no possibility of someone suddenly realising they have to tell me something important or ask me a question or even just crash about in the kitchen.

Sometimes I crave S P A C E, lots and lots of space, being able to walk from room to room without encountering another soul.

This is how I felt when I woke up this morning, so instead of getting ready for work, I decided to stay home. Get up, but not go anywhere, no hear the sound of my own voice, or anyone else's.

I think this might just be part of getting older. After a lifetime of chasing after other people and trying not to be alone, my mind and body is full of thoughts, experiences, feelings, and busy-ness …

12 Things Happy People Do Differently - a self-reflection...

A few days ago a Facebook friend posted the above poster on her wall. I believe she got these points from this blog which she enjoys reading, and the bloggers on the Marc and Angel Hack Life blog derived their discussion of these points from this book, available on Amazon - you're welcome! I have to admit, I haven't read the blog or the book I've just mentioned but wanted my readers to have access to the sources of the poster for their own reflective purposes.
The New Year will be upon us in but a few days and I thought this a great opportunity to do a little personal assessment on how I'm playing the happy game. I'm often not very happy at all - I don't need to be happy all the time, let me just say that up front - I personally believe that life is a balancing act and those who seek euphoria often will also often feel desolation because in all things there must be balance. The great riches of the few on this planet come at the personal cost of the many as is …