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Sydney Woman Says NAB Bank Gaffe Put Millions in Her Account

Sydney Woman Says NAB Bank Gaffe Put Millions in Her Account
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By    |   Monday, 30 October 2017 10:19 AM

A Sydney woman, because of a National Australia Bank gaffe, became a millionaire overnight, but the institution initially ignored attempts to fix the problem, according to the Sydney Morning Herald.

Attorney Claire Wainwright admitted she felt "quite great actually" when she found that $25.1 million had been mistakenly transferred to her NAB account, the newspaper said. She told the Morning Herald that she was also smart enough to know it would not end well if she ignored the error.

"I'm a lawyer, which is why I haven't spent the money," Wainwright said, according to the newspaper. "Mostly because I figured it wouldn't play out that well trying to play dumb on that."

The problems with the bank started last month, when the bank sent Wainwright a letter informing her of direct debits for a loan repayment had been set up, the newspaper said. Instead of the $2,500 per month repayment from St. George bank to NAB that she expected, the bank's note said the monthly debit would be $27,102,107.

"I saw it and I thought 'Oh my gosh, it's 25 mil' and I laughed," Wainwright told the Morning Herald. "I showed my broker and he said 'Oh god, I'll get them to fix it.'"

Wainwright told The Daily Telegraph that when she checked her account in hopes that NAB had fixed the error, she discovered that her account ballooned by millions. She said it appeared that while her NAB mortgage account was now $24,544,780.16 in the black, her St. George account was overdrawn by nearly the same, The Daily Telegraph added.

The attorney said that though the mistake involves millions of dollars, she has been stunned by how long it has taken for the banks to resolve the issue, wrote The Daily Telegraph.

"I was very surprised at how slowly the banks reacted," Wainwright said as she went to social media to expose the problem, per The Daily Telegraph. "The money was still in my NAB account until midnight last night."

NAB said it has started an investigation into the mistake, according to The Daily Telegraph.

"The error has been fixed and the payment has been reversed," a statement from the bank said, per The Daily Telegraph. "Although the funds appeared in the account, they were not available for withdrawal. We thank the customer for contacting us and we're sorry for any trouble caused. We are looking into how it occurred."

St. George Bank spokeswoman also issued a statement, claiming that its processes had caught the error.

"We have investigated the matter and can confirm that the direct debit request was automatically declined by St. George in line with our dishonor clearing process," the bank's spokeswoman told The Daily Telegraph.

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A Sydney woman, because of a National Australia Bank gaffe, became a millionaire overnight, but the institution initially ignored attempts to fix the problem, according to the Sydney Morning Herald.
sydney, woman, nab, bank, gaffe
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2017-19-30
Monday, 30 October 2017 10:19 AM
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