Banks In South Africa Say Too Bad If You Have A Typo
from the such-is-life dept
Banks in South Africa have taken an interesting approach to how money is transferred via online banking. While they ask you for a variety of information about the account you're transferring money to, including account number and name on the account, they only look at the account number when making the transfer. In other words, if you make a typo and transfer money to the wrong account, too bad. Your loss. Now, obviously, people should be careful and double check the numbers they type in, but typos happen. And, at the very least, the bank should attempt to match the account names, since they have that information. If the names don't match, give back an error message. Instead, they say it's just too hard, and they accept no liability in the matter. If you're sensing a pattern here, you're probably right. Banks have decided that they aren't liable for anything that happens online, pretty much. Perhaps that's why they often seem so free with your data.