June 22, 2018

When I Paid PHP1500 for my PHP2 Mistake

They say that experience is the best teacher and sometimes one simple mistake can cost millions. Good thing that my mistake did not cost a fortune but of course paying P1500 without receiving anything in return is no joke. I cannot even accept the fact that I will pay P1500 for my P2 mistake.


How did it happen? Typo error. Yes, a simple typo error. Last month, I wrote a check to pay our credit card due. My husband signed the check and I went to SM Payment Center to pay our bill. The cashier processed the payment and I got the receipt. After few days, I checked our bank account and the payment was debited. I checked our credit card online account and the payment was already reflected.

May 12 - wrote a check, hubby signed the check and paid my bill at SM payment center
May 15 - money was debited to our account and credit card and payment was reflected.

So I thought, everything was clear, I have no idea that something will happen on May 18. I went to school to buy books, uniforms, supplies and of course, pay my son’s tuition. When I went back to the car, I double checked our bank account to make sure that we have enough funds to cover the check that I issued. I was surprised when I saw the balance of our account, “Bakit sobra?”.

May 18 - I checked our bank account and was surprised to see the balance.

I checked the transaction history and there is a note about “ret chk” and I saw the amount that we paid for the credit card bill. My husband called the credit card company to ask why our check was returned if we have enough funds to pay the due. But the credit card company advised us to call our bank because all they can see is “returned check” and the P1500 fee cannot be waived. Waah!

May 16 - Money was returned to our bank account due to Returned Check.
May 17 - Credit card company charged P1500 for the returned check fee + amount due.

My husband called the bank. At first, they cannot give us the reason why the check was returned. The CSR just kept on saying returned check which we already knew. We want to know the reason why it was returned. Then she gave us a link of possible causes na alam na rin namin, kahit sino pwede magGoogle nun.

Possible Causes of Returned Checks 

1. There are insufficient funds in the account.
2. Stop payment
3. Technical deficiencies like stale, post-dated checks, erasures, typo error or different signature.

Then she said, typo error. My husband asked her what kind of typo error, hindi rin masagot. Of course, hindi naman ko matahimik, san ako nagkamali? I wrote the check, my husband signed the check and the cashier processed the payment. Wala kami napansin na mali.

Finally, after several hours of calls, text and emails. The CSR sent us a scanned copy of the check and I want to beat myself when I saw my mistake.

I wrote 

Figures: PHP XX, 632.00 
Words: __________ six hundred thirty pesos only 

I forgot to write “two” pesos. Grr... 

Five years ago, I made a mistake too, error on my date. I wrote July 12, 20113 but the bank was kind enough to call me so I was able to correct my mistake and they did not charge me. But now, all checks with technical deficiencies, alterations, erasures, or issued checks with insufficient funds will be automatically returned without the need of confirmation. So wala ng tawag-tawag, penalty agad.

Read: Returned Check Error

And because of that, I have to pay P1500 for that simple mistake. At that time, I was worried because I just wrote a check for my son’s tuition so napaparanoid ko baka mali na naman sulat ko. Good thing okay naman yung check and that was the last check that I wrote. So far, di pa ko makamove-on. Lol.

Read: Important Advisory on Check Clearing 

I’m thankful that my husband did not get mad at me. I'm thankful that I checked our bank account because nobody informed us about the returned check. I’m thankful that our credit card bill was not due yet so no interest despite the bounced check and I was able to repay our bill before the due date. And lastly, I’m thankful for my credit card points so I was able to pay P1500 using our cash rebates. I also enrolled our credit card in our online bills payment so I can pay it online na lang na bakit hindi ko pa ginawa dati.

Read: Save Money By Using Cashback Card

8 comments:

  1. Shucks! Ganun pala iyon? Lagi pa naman akong nagmamadali when writing checks. I will be extra careful na.Thanks for sharing!

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    Replies
    1. Yes, mahirap na magkamali kaya be careful when writing checks. :)

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  2. That is right just pay your bills on line. Enroll all your bills for online payment. It is efficient and convenient. Hindi ko na kailangan umalis ng bahay at pumila para magbayad.

    ReplyDelete
    Replies
    1. Most of our bills are enrolled online except for the credit card because we tend to change card every yr, hehehe! But now, sisipagan ko na lang magenroll and unenroll ng credit card.

      Delete
  3. Waaah! Oo nga, bank are meticulous talaga with the details. It seems like a small thing kasi to call and inform the customer of the mistake, but if there's a hundred of calls to make, it costs the company.

    ReplyDelete
    Replies
    1. True and also it takes times to clear the check. Mapapahaba pa process so lesson learned talaga, double check na lang maigi kung tama yung details.

      Delete
  4. Whenever I write something, especially pag blog-related or caption of anything laging may mali kahit 5x kong binasa bago ipost. Mga typo na bakit hindi ko napapansin, imemessage na lang ako ng sister ko to say na may mali sa caption ko. Mostly sa plural form and possessive form. Hindi ko alam kung sakit yun or basta. Reading this, naisip ko wag na lang magcheke. Ang higpit na ngayon, baka ilang 1500 ang mangyari saken. :(

    ReplyDelete
    Replies
    1. Same here, kaya pag may time ako I reread my old post para macorrect mali. Good for you that you have a sister na nagmemessage sayo. :) Medyo scary magkali sa check kasi pera ang kapalit.

      Delete

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