Adami: Bank refunds customer’s Visa interest after failing to maintain payment plan

[guest]

Bechara Abou Nassar says he keeps a pretty good eye on his financial affairs because he doesn’t want debt. So, understandably, he was shocked to find out last month that he owed Visa close to $33,000, including almost $4,000 in interest. As it turns out, says Abou Nassar, Scotiabank, which he had authorized to pay in full his monthly Visa bills from his bank account, had only been making minimum payments over the past 16 months. In so doing, he says, it allowed $3,700 to $3,900 in interest to rack up over that period.

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