I know that this blog is mainly about revealing any scams that I find on the net, with a smattering of other interesting tidbits that I may find interesting or amusing, but I have found out that there are times when major corporations may be ripping you off unintentionally. I am talking about the major banks and although these errors may be completely unintentional, if not found they can be costing you thousands of dollars!

I only found out about this the other day when I happened to be watching Today Tonight, a current affairs program, on Channel 7. It was during this program that I learned of how some really smart blokes developed a program that could literally save people with a mortgage a whole heap of money. Now although I don’t have a mortgage the story piqued my interest, mainly because it revolved around banks overcharging their customers, and I hate the thought of anyone getting ripped off.  The thing that even though it may be a small amount, if not picked up then over the term of the loan it could amount to a considerable amount.

Only recently a major Australian bank discovered they had overcharged fees on 55,000 customer accounts! In total they had overcharged their customers a staggering $52,000,000! That was from only one bank!

The reason that many people don’t pick up on these errors is because many bank statements can be difficult to read causing the errors to be missed. A program was developed, Mortgage Watchdog, and the developers of this program are so sure that you will find an error in your statements that they promise a money back guarantee if you don’t find one. Not only that, they will also offer the;

$250 Success Guarantee”. Find errors in your bank statements or we refund your money AND give you an additional $250 for wasting your time.

So how can you lose? If that wasn’t a good enough deal you also get the following with the Mortgage Watchdog  Deluxe Bundle.

So you see, as far as I know this software only works in Australia but if I find out that it may work in other countries I will let you know. Now, don’t you believe for a second that banks don’t make mistakes. I’ve heard of many a news broadcasts where they’ve actually admitted to making errors, the question is not if they have or not but how much is it costing you? The thing to remember is that it’s really a win win situation, because even if you are lucky enough to find your statements are error free, not only do you get your money back but an extra $250. Man, what a great way to start 2009!

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