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Call 4 Cash
Mortgage Checking Software
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If you want to
find out how to stop the banks from taking advantage of
you through errors and faulty systems, then keep your
eyes glued to this page for the next couple of minutes;
you are in for some shocking surprises.
The banks have
probably already overcharged you many times this year
without even knowing it!
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“Your software has uncovered
overcharging by my bank to the tune of
almost $1,300 just for
the last two years. Like so many others,
I had assumed the Bank would get the figures
correct.”
Mike V - Bungendore, NSW |
I don't know
about you, but I work hard to pay off my mortgage as
quickly as possible. Then to have the bank make mistakes
and incorrectly take money from my account is not only
unfair, but insulting.
I never
considered it necessary to check the calculation of my
bank statement. I didn't think there would be a need. I
couldn't have been more wrong. Every day people are
receiving bank statements in the mail for their
mortgages, saving accounts, personal loans and
overdrafts that they assume are correct, but they are
totally mistaken.
Do you actually believe your bank or non-bank
lender would never make a mistake on your account?
"Banks do make
mistakes with mortgages. And very few are in the
customers favour."
- Prue
Moodie, Australian Financial
Review
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Here's what the experts have to say.
"It would be naive to think there's such a
thing as a perfect system, and that mistakes
will never happen. Mistakes are a fact of life
and I am not suggesting that banks intentionally
do anything wrong…..
–
Paul Clitheroe
- Host of Channel 9's Money show and chief
commentator for Money magazine
"The era of trusting the banks has long
gone."
–
Justice Clarke,
New South Wales
Supreme Court.
"Banks get almost every interest
calculation on mortgages and overdrafts wrong at
some point."
- Roy
Brown
Managing Director of Interest Research Bureau
(IRB). |
I can't believe
how totally naive I had been, just accepting that the
banks never actually made a mistake and my statements
were 100% accurate. Now surely these mistakes are just
tiny errors involving a few cents here and there? Well
guess again.
Banks Are Making Mistakes On Accounts
Just
Like Yours .... Every Day.
If
you are like many people you may be tempted to think
that "this can't happen to me" or that this "isn't a
real problem and it's being blown out of proportion."
Before you make that mistake think about this.
Recently a major Australian bank found they had
overcharged fees on 55,000 customer's accounts and it
totalled $52,000,000. That's right $52 million
dollars.
That's an average of
$945 for each person.
What I find pretty
amazing about this is that the bank found the problem
NOT the customers. That means that fifty five
thousand people didn't notice the best
part of one thousand dollars missing from their bank
account.
You may be thinking "I know I'd sure
notice $1,000 missing from my account." ... but I am
willing to bet you $200 right now that if you called
those 55,000 people mentioned above they'd have said
exactly the same thing before the bank informed them of
the little blunder they made on their account.
So
why didn't they notice the $945 overcharges?
The
problem is that bank statements can be difficult to read
and are not always what they seem. Some of the errors
are very difficult to locate if you don't know what to
look for.
"[In accounts for over 20
of my clients] I have discovered overcharges in
approximately 75% of cases. The total of all
mistakes, including overcharges of interest, fees
and other irregularities amounts to over $500,000"
– Joe Naggy former
Citibank executive now runs Midmark Financial
Services
“The
incidence of error is extremely high. We
recently checked 282 normal statements and 152
of those were incorrect. It really is
alarming.”
- John Scilly
former executive with Advance Bank
“A
recent survey of bank statements conducted by
The Interest Savers for Sydney Morning Herald
readers showed an error rate of 54%, ....... The
Herald's switchboard was jammed for a week by
callers wanting their statements checked.”
- Journal of The Institute
of Chartered Accountants in Australia
"The
bank statements are never clean, [citing the
experience of some 350 clients since IRB opened
in 1994]. "Significant errors" occurred in 90%
of statements.."
- Roy Brown Managing
Director of IRB |
There is a way to
keep the banks honest. We now have a simple and
powerful tool to check your bank statements quickly,
easily and most importantly 100% accurately.
But is it worth it? How often do
these mistakes happen? Unfortunately, it is far more
often than you would think.
A
former Commonwealth Bank officer, Martin McKenna,
has found that ...
That
gets you thinking about these "mistakes" when it favours
the lender that much doesn't it!
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Don't get angry, get even..... get back what they
owe you.
There is
something you can do about this, you don't have to be a
helpless victim of the banking system. Average
homeowners around Australia are getting their money back
from the banks every day. There are thousands of real
life examples of people who have been over charged and
been repaid anything from $200 to $100,000.
The bad news is
that knowledge is a dangerous thing. Knowing what you
now know, you have to some extent cornered yourself into
making an important decision. You will decide one
way or another how you are going to deal with it. Before
leaving this page you will select one of the following
alternatives...even if you
think you haven't decided.
| Option 1: |
The first alternative is to either "think
about it" or continue doing nothing and have the
banks take advantage of you to the tune of
$1,210 a year on average. I suppose this is the
ostrich approach, stick your head in the sand and
hope it goes away, good luck with this one, you're
going to need it. |
| Option 2: |
Pay a bank statement checking company (like IRB
mentioned above) to check for you. The interesting
thing to note about these companies existence is
that obviously bank errors occur often enough for
these guys to make a pretty healthy full time income
(keep that in mind if you are leaning toward the
option above). The down side is that they charge $55
per monthly statement to check for you and a 20%
"success fee" on the bank’s refund. So the costs you
are looking at are $55 x 12 = $660 plus $1210
x 20% = $242 (20% of the
refund)
Total Cost = $902 each year. |
| Option 3: |
Ask the the very people who got it wrong in the
first place - the banks - to check your statements
for you. Generally they charge $200/hour to
do this for you. Ask yourself this question, "why
would I trust them to get it right this time if they
couldn't before?" Isn't this a bit like putting the
fox in charge of the hen house? |
| Option 4: |
Let us use our dedicated software using the
internationally accepted formula to calculate your
interest bill to check on the banks for you .... for
a fee of 10% of the banks refund, to be paid in
advance.
Minimum of 5 years statements required. |
It is a bit of a "no brainer" isn't
it?
Our Mortgage Checking software is by far the most
cost-effective solution available.
To do nothing is either naive or
nuts, as is paying the bank to check your statements for
you. Paying a high priced firm to do it for you isn't a
bad option but if you want to dig through 6 years worth
of statements at $55 a month you are looking at $3,960
plus 20% of the overcharges they find. Why not let us
use the same kind of software these firms use to find
banking errors every day for a fraction of the cost?
Undoubtedly you will have seen
countless exposés about the banks on TV programs
including Channel 7's "Today Tonight", Channel 9's
"Money" and "a Current Affair", plus The ABC's "4
Corners", "7.30 Report" and "Sunrise".
So call 'Call 4 Cash' today on (02) 4237
5924 or
email
with your phone number and location. Don't forget 'our aim is to
help YOU'.
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