Ontario woman accidentally overpays Visa bill by nearly $13,000

Many of us pay our bills using online banking because it's simple, fast and usually problem free, but if you make a mistake and pay the wrong amount, it can sometimes be difficult to get your money back.

"It was just gone in an instant and I couldn't get it back,” said 89-year-old Ann Bank of Etobicoke.

Bank is a client with TD Bank, but also has a Visa card with RBC. In May of this year, she was paying her Visa bill online which was $131.07, but she forgot to put in the decimal point and accidentally paid $13,107.

“I did the same thing I always do, but this time I neglected to put in the period for the decimal point,” said Bank.

Bank was originally told not to worry and that the overpayment issue would be resolved within 15 days, but her son, Michael Bank, said it’s now been three months and neither TD or RBC can tell them where the money is.

"We assumed this would settle itself, but when you contact them, you are just sent around in circles and you just can't get a straight answer and the money is just gone into the netherworld," said Michael.

Bank said every time they inquire about the overpayment it's like starting over and now she is growing concerned the money might be gone for good.

"Somewhere out there is my money and I would really like that money back as I could really use it,” said Bank.

When CTV News Toronto reached out to RBC, a spokesperson said: “When an incorrect payment or payment amount is applied to a credit card, the cardholder may request the payment be refunded by contacting the financial institution where the payment originated. When RBC receives a request for a refund from another financial institution, we follow an established process to complete the request. We aim to keep our clients informed throughout the process.”

“While this matter has now been resolved, we understand it took longer than expected to reach a resolution. Although we cannot comment on the specifics of this situation due to client privacy, we can advise that we take all client concerns seriously and have shared more details with our client directly.”

A spokesperson for TD Bank also told CTV News TOronto that “We are happy to learn there has been resolution. TD is committed to supporting our customers and we encourage our customers to call us or visit a branch for help with any of their personal banking needs.”

Bank was grateful to get her money back.

“I am very relieved, it has been a very stressful summer for me and I thank CTV News Toronto for looking into this matter for me,” she said.

If you pay your bills online, it's always a good idea to triple check amounts carefully and if you make a mistake you might be able to cancel the payment before it goes through, but you’ll need to contact your bank right away to try and stop it.