Ontario Man Attempts to Retrieve Funds after Making Mistake While Online Banking

An Ontario man revealed an online banking blunder caused him nearly a month and a half of frustration.

Fred Martin who lives just south of Ottawa said,

“I was making a payment through my Scotiabank online banking and I paid it to the wrong account.”

Martin was attempting to pay his tax bill and he intended to send money to Revenue Canada; however, he clicked on the wrong payee and unfortunately sent more than $2,664 to a MasterCard account with The Hudson’s Bay Company.

Anne, Fred’s wife, stated it’s been aggravating trying to get the accidental payment sorted out.

“It’s been five weeks now and you get on the phone for two hours with the bank, no exaggeration and with the Bay too,” Anne Martin revealed. “You get off the phone and you are no further ahead than when you started.”

Millions of Canadians utilize online banking daily to settle their bills and send e-transfer without issues, but, if you do make an error, it can be challenging to rectify if you don’t catch the mistake on the same day.

Fred Martin acknowledges it was his fault for clicking on the wrong payee in his online banking, however, he can’t believe there isn’t a way to reverse the funds.

To worsen the situation, the MasterCard account with Hudson’s Bay was shut down years ago, so it’s unclear where the funds went.

They were informed their bank should present an authorized debit request to get the money back from the MasterCard account, nevertheless, they said after over a month, nothing has worked.

Fred Martin said,

“I feel awful. I feel terrible. I’ve even had a couple of sleepless nights you know. I made a big mistake and I feel terrible.”

CTV News contacted the Hudson’s Bay Company and Scotiabank and they agreed to review Martin’s case.

A spokesperson for Scotiabank informed CTV News Toronto,

“We have contacted the customer and communicated our attempts to resolve this matter as quickly as possible.”

“We encourage customers to always carefully review the details of their online banking transactions, including ensuring that payee information is accurate when paying bills online as funds are transmitted directly to that payee when the transaction is processed.

Scotiabank customers can reverse a bill payment before 8:30 pm ET on the same day they made it. For more tips and resources on digital banking, please visit scotiabank.com/bankyourway.”

“As an update, MasterCard has processed the return and the funds are back in Mr. Martin’s account. This has now been resolved,” a spokesperson for Hudson’s Bay Company told CTV News Toronto.

The Martins reached out to CTV News Toronto to state that after the media house got involved, they got their money back.

“It’s been six weeks of frustration. We really did believe we were not going to see that money again, we really didn’t so it’s a major relief,” declared Anne Martin.

Fred Martin noted he’d be more careful banking online in the future. Scotiabank did disclose that bill payments could be reversed until 8:30 at night on the same day they were made.

If you make a blunder in your online banking, contact your bank immediately.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Advertismentspot_img

Instagram

Most Popular