Morgan Stanley in billing boo-boo
PrintLose two points
Posted in Financial News, 20th October 2006 12:35 GMT
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Thousands of Morgan Stanley credit card customers were shocked this week to find the bank had multipled their debt by a factor of 100.
Register reader Gordon Sinclair discovered the decimal point in his numbers had been shifted two places by an IT blunder. Instead of £149.49, Morgan Stanley demanded payment on a debt of £14,349.00.
Gordon said: "On the plus side, they are making another £775,651 available to me in further credit!"
The Mirror reports that 15,000 customers were affected by the blunder. Morgan Stanley will be issuing corrected statements, along with letters coughing to the gaffe.
But at least Morgan Stanley's mistake didn't force customers to pay for their dinners by washing dishes. ®
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