The Banking Ombudsman has rejected a claim from a bank customer that a bank error caused him to over extend his finances.

The bank wrongly deposited $50,000 too much into the customer’s account following a house sale.  The customer asked the bank about the extra funds and was told there was no error and the correct amount had been paid.  Unfortunately, that advice was wrong and the $50,000 should have gone to his ex-wife.

The customer claimed he purchased a property with the funds and spent $50,000 more than he had due to the bank error.

The Ombudsman discovered that the customer had agreed to buy the house before the bank error, so the customer was incorrect to try to blame the bank.  The bank offered $5,000 to cover the man’s legal costs and he accepted the offer.


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