Monthly Archives: October 2017

How this woman woke up with $25m in her bank

 

Clare Wainwright found $25 million accidentally transferred into her bank account

SYDNEY woman Clare Wainwright woke up to find herself $24.5 million richer and her mortgage paid off.

The lawyer first discovered the millions in her account on October 25.

Clare Wainwright found $25 million accidentally transferred into her bank account. Picture: Facebook

In September, NAB sent a letter confirming a direct debit for loan repayments had been set up.

The letter said Ms Wainwright’s monthly repayments would be $25,102,107 – not $2500 – with the next repayment due on October 25.

Her bank NAB first requested $25.1 million from her bank, St George Bank, who then transferred the substantial figure, heavily overdrawing Ms Wainwright’s account.

Despite both banks being contacted about the error, the money is still in Ms Wainwright’s account.

“When NAB accidentally pays out your entire mortgage, and gives you an extra $24.5mil to redraw … do I skip the country??” she jokingly wrote on Facebook.

Ms Wainwright told Fairfax Media that she had not been tempted to spend the millions.

“I’m a lawyer, which is why I haven’t spent the money,” she said. “Mostly because I figured it wouldn’t play out that well trying to play dumb on that.”

Clare Wainwright said she has resisted spending the $25 million.

“I saw it and I thought ‘Oh my gosh, it’s 25 mil’ and I laughed,” she said. “I showed my broker and he said ‘Oh god, I’ll get them to fix it’.”

NAB told her broker that they would be in touch within three business days.

“They obviously don’t understand I could just skip the country,” she said.

Asked how she would spend $25 million, Ms Wainwright said: “Well, if I was allowed to use it, I’d pay off my mortgage and buy another place. Or an island.”

www.profitcentre.net

www.goodgirlsgo.com

Henry Sapiecha

Westpac refunds $65m to 200,000 customers over discount errors

Westpac is refunding $65 million to about 200,000 customers after it failed to pass on benefits they should have received under package deals offered by the bank.

The bank on Thursday said an internal review had detected problems whereby it failed to automatically pay consumers all the benefits they were entitled to under packages sold through Westpac, St George, BankSA and Bank of Melbourne.

“When we identified these issues, we started the process of putting things right for customers. We also notified ASIC [regulator the Australian Securities and Investments Commission],” Mr Frazis said in a statement.

“Westpac apologises unreservedly for a process that did not suit customers. By automating the discounts, we have ensured that our customers will not be affected in this way again.”

Under the packages, customers were meant to get discounts on products including home loans, credit cards and transaction accounts, but the bank said it had not given the discounts on “ancillary” products including home and contents insurance.

The chief executive of Westpac’s consumer bank, George Frazis, apologised and said all affected customers would receive refunds.

The refunds are expected to total $65 million, or $45 million after tax, and will be included in its upcoming full-year results.

The refunds being paid by Westpac are for customers who took out “Premier Advantage” or “Advantage” packages with the bank from 2010.

Earlier this month, Mr Frazis said Westpac would also scrap “outdated” rules that resulted in customers being charged fees if they made more than a certain number of transactions each month, and it put a $5 cap on personal account-keeping fees.

News of the refund comes as National Australia Bank and Commonwealth Bank will appear before the federal government’s banking inquiry on Friday, following last week’s questioning of Westpac chief executive Brian Hartzer and ANZ Bank chief Shayne Elliott.

Henry Sapiecha