Michi Photostory

They say that experience is the best teacher and sometimes one simple mistake can cost millions. Good thing that my mistake did not cost a fortune but of course paying PHP1500 without receiving anything in return is no joke. I cannot even accept the fact that I will pay PHP1500 for my P2 mistake.

How did it happen? Typo error. Yes, a simple typo error. Last month, I wrote a check to pay our credit card due. My husband signed the check and I went to SM Payment Center to pay our bill. The cashier processed the payment and I got the receipt. After a few days, I checked our bank account and the payment was debited. I checked our credit card online account and the payment was already reflected.

May 12 - wrote a check, hubby signed the check, and paid my bill at SM payment center
May 15 - money was debited to our account and credit card and payment was reflected.

So I thought, everything was clear, I have no idea that something will happen on May 18. I went to school to buy books, uniforms, supplies and of course, pay my son’s tuition. When I went back to the car, I double-checked our bank account to make sure that we have enough funds to cover the check that I issued. I was surprised when I saw the balance of our account, “Bakit sobra?”.

May 18 - I checked our bank account and was surprised to see the balance.

I checked the transaction history and there is a note about “ret chk” and I saw the amount that we paid for the credit card bill. My husband called the credit card company to ask why our check was returned if we have enough funds to pay the due. But the credit card company advised us to call our bank because all they can see is a “returned check” and the PHP1500 fee cannot be waived. Waah!

May 16 - Money was returned to our bank account due to Returned Check.
May 17 - The credit card company charged P1500 for the returned check fee + amount due.

My husband called the bank. At first, they cannot give us the reason why the check was returned. The CSR just kept on saying returned check which we already knew. We want to know the reason why it was returned. Then she gave us a link of possible causes na alam na rin namin, kahit sino pwede magGoogle nun.

Possible Causes of Returned Checks 

1. There are insufficient funds in the account.
2. Stop payment
3. Technical deficiencies like stale, post-dated checks, erasures, typo errors, or different signatures.

Then she said, typo error. My husband asked her what kind of typo error, hindi rin masagot. Of course, hindi naman ko matahimik, saan ako nagkamali? I wrote the check, my husband signed the check and the cashier processed the payment. Wala kami napansin na mali.

Finally, after several hours of calls, text,s and emails. The CSR sent us a scanned copy of the check and I want to beat myself when I saw my mistake.

I wrote 

Figures: PHP XX, 632.00 
Words: __________ six hundred thirty pesos only 

I forgot to write “two” pesos. Grr... 

Five years ago, I made a mistake too, an error on my date. I wrote "July 12, 20113" but the bank was kind enough to call me so I was able to correct my mistake and they did not charge me. But now, all checks with technical deficiencies, alterations, erasures, or issued checks with insufficient funds will be automatically returned without the need for confirmation. So wala ng tawag-tawag, penalty agad.

Read: Returned Check Error

And because of that, I have to pay PHP1500 for that simple mistake. At that time, I was worried because I wrote a check for my son’s tuition so napaparanoid ko baka mali na naman sulat ko. Good thing okay naman yung check and that was the last check that I wrote. So far, di pa ko makamove-on. Lol.

Read: Important Advisory on Check Clearing 

I’m thankful that my husband did not get mad at me. I'm thankful that I checked our bank account because nobody informed us about the returned check. I’m thankful that our credit card bill was not due yet so no interest despite the bounced check and I was able to repay our bill before the due date. And lastly, I’m thankful for our credit card points so I was able to pay PHP1500 using our cash rebates.