What should I do with this money? My season ticket hasn’t been charged for.....(54 Posts)
This isn’t really an AIBU tbh, apologies.
I get a season ticket every year which costs over 2k, and I get an interest free loan to pay for it from work. I bought the ticket on my credit card, got the money from work to pay off the credit card. However, the season ticket charge then bounced back to my credit card and was refunded.
I’ve left it a couple of weeks presuming that TfL would claim the money again but they haven’t. I rang them today and they said the ticket was all paid for and they had had the money and AFATWC it was done and dusted and the ticket would work for the next year. I did tell them the money had been refunded to my CC and they basically shrugged.
So I phoned the CC company who said the payment had been refunded and there was nothing outstanding or payments being claimed and AFATWC that was the end of it and I would physically need to make another payment if I wanted to pay anyone.
So it’s kind of great but also kind of 🤨 as I don’t want to have to reapply for a loan or get a whacking great bill in however many months time. I also don’t want work to get wind that I haven’t paid for my ticket (big responsibility/trust position).
Help? Should I keep the money/ pay it back/do something else?
I'd pay it back to your work and if TFL then decide you owe them you can ask your work for it again.
I would put it in writing to TFL (recorded delivery) and ask for a written reply confirming that everything is in order before spending this money. So if a bill arrived further down the line you would have proper proof IYSWIM.
Definitely don’t let it go yet. I’d write to TFL and send it recorded delivery. I’d also tell your HR dept in writing so there’s a record. If they realise in six months time and demand the cash, you can show that you did the right thing. And if they don’t, then lovely. But you need to cover yourself if there’s any chance your reputation could be damaged.
Hold on to it for at least 6 months.... Then do something positive with the money such as a charitable donation and/or micro loans. It is not your money in reality so use it to do good.
Yeah, pay the loan back to work. Explain just as you have here.
It doesnt sound like you can do anymore, both TFL and your CC has said there are no issues but I would keep the loan money in a seperate account just incase.
I wouldnt say anything to anyone at work, you are paying the loan back anyway ......and why would they know that you havent paid for the season ticket?
I would move the money into a contingency account for up to a full year. If it does get raised just say you were confused by what occurred and kept the funds by for this possibility, transfer it back to them the same day.
If in a years time the season ticket process runs as normal, I would take it as a win and use the money for my own needs.
You will get the holier than thou people saying they couldn't sleep if they were getting on a bus they hadn't paid for yada yada, but by keeping the funds available you are (in my opinion) being plenty responsible and allowing a very reasonable period of time to pass.
Scrub that, just seen that you get a loan from work. Pay it back.
If it's a loan you have to repay it to work anyway. If you don't need the money for something urgent or house repairs or whatever then just pay the money straight back, rather than monthly.
The problem is it’s easy enough to get the loan when your season ticket runs out but I imagine very annoying if you haven’t got an expired season ticket as evidence. They are hot on it only being used for season tickets and I don’t think it will be as easy as “paying it back” as it’s already being deducted monthly from my salary then getting it again when I’m supposed to get it every November and have been for 14 years. I’m probably better off keeping the money and paying it back monthly purely logistically.
Hi have had this it will catch up eventually
I would work on the assumption that TFL will realise their mistake and charge you at some point. It’s clearly just an admin error, why do you think you’ve got away with it? It’ll be picked up eventually.
Ask for confirmation from TfL in writing.
Repay the loan to your work.
Pay the money back monthly as you normally would.
Keep the £2k in a separate account for the (almost inevitable, especially now you've spoken to them and flagged it up) moment TfL come calling.
I would try again with TfL to see if you can get them to sort it. Do everything in writing and keep copies.
If you don't manage to resolve it with TfL, then, I would talk to HR (again documented in writing) and agree with them what you should do. I actually think that at some point in the future TfL will ask for the money back, so my suggestion would be that you keep the funds in a bank account untouched (and gaining interest!), and continue to pay work via your wages. But make sure this is all agreed with HR and documented, as everywhere I've ever worked, misuse of the season ticket loan is a sackable offence. You need to make it clear that this is not misuse, and that HR are aware of the situation.
It's a pain and a hassle, but you really need to do this by the book.
They are hot on it only being used for season tickets
Just tell work what has happened FFS.
You say you're in a 'big responsibility/trust position' so act like it.
Or risk the consequences and the stress of having this hanging over you all year.
it will be administratively difficult to do anything via work. They loaned you the money for the season ticket, you bought a season ticket and will be paying them back the loan, they have nothing to do with it now.
Either pursue it further with TFL or just keep using the ticket issued until there is a problem flagged or it expires. Keep the money separate and a record of your correspondence in case they ask for it back at any point. Credit card company also has nothing to do with it.
Can't you just bung it in a savings account and pay TFL when they ask for it? You HAVE tried to sort it out, it's not like you've just gone "Wahey!" and skipped off on a spending spree.
They should have all your communication logged down to prove you did nothing wrong.
Keep it to one side and use to pay future tickets that way you’re covered in all scenarios
* would work on the assumption that TFL will realise their mistake and charge you at some point. It’s clearly just an admin error, why do you think you’ve got away with it? It’ll be picked up eventually*
Even if they say they've not made an error, in 6 months time they could realise and charge you then. It doesn't matter that they've told you it's fine, their entitlement to the money doesn't disappear.
I agree with the suggestions to put the money in a bank account, continue to pay back your employer and when (not if) TFL charge your credit card again you will have the money to pay off the bill.
I'd put it in a savings account until your next ticket is due, then if they haven't asked for the money by then I'd spend it. You've tried to tell them, they wouldn't listen, their loss.
make sure this is all agreed with HR and documented, as everywhere I've ever worked, misuse of the season ticket loan is a sackable offence. You need to make it clear that this is not misuse, and that HR are aware of the situation
I don't think you need to tell your HR team. They'll try to claw back the loan and it will be loads more complicated. You will need the money to pay TFL at some point this year. In any case, you have the proof that the money left your credit card account and was then put back in again (or the reverse as it's credit and not a bank account, but you know what I mean) so the money was used as it should have been and TFL have messed up.
The administration stuff you mention: it's easy to resolve.
Go and talk to HR/Payroll and explain just like this and pay it back. That way if/when TFL request the money they will understand the situation.
It's easy to stop payroll deductions and reinstate them if necessary. Unless your payroll department is difficult to deal with...
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