4 ms·
Er, what? Surely he's got the wrong end of the stick and they'll be refunding the excess $25 of his second purchase, (and now the entire $9975 of his superfluou
by hanoz 4y ago
Er, what? Surely he's got the wrong end of the stick and they'll be refunding the excess $25 of his second purchase, (and now the entire $9975 of his superfluous third).
- Jabbles 4y agoYes, so for the next 8-10 weeks until the refund is processed he's effectively loaned the government his money.
- hanoz 4y agoBut not all of it at 0% interest as he seems to think.
- tluyben2 4y agoWhy? Both emails says the purchase of bonds failed and a refund will be processed; you cannot expect that to give you any interest right?
- ricardobeat 4y ago10k of it is still in the bonds, which will be paid back with interest.
- hanoz 4y agoThe email is saying, rather clumsily, that the excess $25 of the second purchase will be refunded, and this interpretation is confirmed by fact that the third payment was also deemed to exceed the limit, which it would not have done if the second amount was being rejected in its entirety.
- tluyben2 4y agoWeird he would say that as he gets an overview of the bonds he did purchase as he did with the 25$. If he got those it would be somewhat weird.
- tzs 4y agoIt's not obvious. In general if you attempt to purchase a certain amount or quantity of some item and for some reason it is only possible for them to sell you a smaller amount of that item, with some items a smaller amount will be acceptable to you and with some items a smaller amount is not acceptable. If the first case delivering the smaller amount and refunding the overpayment would be what the customer would want. In the second case delivering nothing and refunding the entire payment would be what the customer would want. I could see purchases of financial instruments fall into either group. It would depend on what alternate investments are available to the person. Say I've got $10k to invest and my first choice in investment #1. I try to purchase $10k of #1 and it turns out there is a limit of $5k. My second choice is investment #2 which has no limits. In that case I'd want $5k in #1 and the other $5k in #2 and so the behavior I'd want from the seller of #1 when I try to buy $10k is to sell me $5k and refund my $5k overpayment. But suppose #2 has a minimum investment of $6k, and I have no good #3. In this case what I might want is all $10k in #2. When my attempt to purchase $10k of #1 fails I'd want them to sell me nothing and refund all $10k so I can buy #2.
- hanoz 4y agoIt's entirely obvious which is the desired option if the refund time is 10 weeks and the application is for, in the author's words, "free money".