Banks grace period

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Forums › Finance and wealth management › Banks grace period

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mattwnz

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#2172837 4-Feb-2019 16:00

Just had a reply from the bank regarding this, and they agreed that the wording could give the impression that the grace period started the day after, as it does use the word 'after' the investment is reinvested, and it wasn't that clear. So they are going to change the wording in their terms.

eracode

Smpl Mnmlst
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#2172864 4-Feb-2019 16:32

mattwnz:
Just had a reply from the bank regarding this, and they agreed that the wording could give the impression that the grace period started the day after, as it does use the word 'after' the investment is reinvested, and it wasn't that clear. So they are going to change the wording in their terms.

Great result - that’s a significant admission by the bank - they wouldn’t change their wording lightly. It will be into see if they actually do it.

Sometimes I just sit and think. Other times I just sit.

mattwnz

20515 posts

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+1 received by user: 4795

#2172980 4-Feb-2019 18:31

Thanks, yes it will be interesting to see if it gets through to the right people higher up.

landcruiserguy

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#2173083 4-Feb-2019 20:53

Go in and tell them that if they don't make you happy then the next reinvestment will be somewhere else. It's your money that they are making money off after all.

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