1 reviews | Active since Oct 2014
Unexplained Reversals on Account
A couple of weeks ago i get a call from Toyota Finance telling me my account is in arrears (when its definitely not) and i need to make arrangements to make payment.<br> I tell the lady on the phone that this is not the case and that if anything my account should a lot more than just up to date.<br> after this they send me a statement of the account at which point i notice 3 reversals, one dating back to December last year, that 1. i wasn't notified of and 2. this money never went back into my own bank account.<br> Upon querying this and sending proof of payment for the latest 2 payments (which still hasn't been allocated) i was told that i need to contact my own bank to query these reversals.<br> Im sorry but that does not make sense.I was also told that maybe these reversals happened because i did not have enough funds in my account to pay the specified amounts, which is absolute ******* because clearly these people don't understand how a EFT works.<br> I demand a explanation for this and want this cleared up ASAP as its been going on for 3 weeks now with now explanation whatsoever.
Thank you for bringing this matter to our attention and affording us the opportunity to address this issue comprehensively.
A senior manager has intervened to provide you with feedback and a reconciled statement confirming that the account arrear position was directly attributable to the irregular payments made on the account. The instalments are due on or before 2nd of every month however when the same is not credited according (either due to late payment, incorrect details for the transmission or delayed allocation) as you have elected to make payments manually, past-due interest will accrue accordingly.
We also already clarified that the reversed observed on the account were the result of another customer using the wrong reference for payments, which later had to be re-appropriated.
We trust that this is in order and assure you of best intentions at all times.
Yours faithfully,
Toyota Financial Service
Thank you for bringing this matter to our attention and affording us the opportunity to address this issue comprehensively.
A senior manager has intervened to provide you with feedback and a reconciled statement confirming that the account arrear position was directly attributable to the irregular payments made on the account. The instalments are due on or before 2nd of every month however when the same is not credited according (either due to late payment, incorrect details for the transmission or delayed allocation) as you have elected to make payments manually, past-due interest will accrue accordingly.
We also already clarified that the reversed observed on the account were the result of another customer using the wrong reference for payments, which later had to be re-appropriated.
We trust that this is in order and assure you of best intentions at all times.
Yours faithfully,
Toyota Financial Service