It pays to regularly check your bank statements

During January 2008, Mr. David applied to a bank for a credit card. In his application he provided the requested information including his cheque account number, for the automatic payment order, being the account to which all credit card transactions were to be debited. The bank incorrectly captured the cheque account number. This resulted in all the automatic payment orders being returned. He was debited with finance charges, penalty fees and VAT. During May 2008 he checked his statement and discovered the error. He immediately settled the outstanding amount on his credit card and requested the bank to cancel his credit card facility. By August 2008 he was still being billed for finance charges, penalty fees and VAT. He complained to the office of the Ombudsman which intervened and the bank admitted its mistake. It refunded Mr. David with the full amount incorrectly debited.