Not now but later???? (Talk about idiots!)

[Genenco]

So I get a call from the bank (On a Sunday)

"Sir, you're negitive $557...."

"Say WHAT???"

"Yes, you're negative $557..."

I keep them online and go to the web site...Oh geeze...Pay by phone checks have been inserted and reinserted and reinserted! (I thought only once maybe twice) and so after each rejection, there's a $30 NSF charge...

"Hokay, looks like they really pounded me..Can we close the account so as to stop this and I'll start paying on it?"

"No sir, we can't close it"

"Why not?"

"Because it's negative"

"But if it's not closed, they may continue hitting the account"

"Yes, they may, but we can't stop it"

"But that doesn't help me"

"Sorry, but that's the rules"

"Oh? And what if there's no money coming in?"

"Then after 35 days we close it and then it goes to collections"

"So you're saying that you can't close it now and get the money back, but would rather let it go deeper and lose everything?"

"Sir, you have a direct deposit that will hit this Friday"

"Yes, but by that time, there may be more then what the check is, negative in the account"

"Sorry sir, but that's the way it goes"

"Not really"

"Oh sir, you can make a deposit today?"

"No, I'm going to cancel my direct deposit and you can chase me to the bankruptcy court and watch as the money I owe you, gets trashed...How that's for "The way it goes?"

"Sir, you can't do that!"

"Watch me"

"Click"

Sheesh! Guess I'd better get out another debt sheet....Bastards....

[newstart]

Good for you. Banks never make the logical choice. They always make the choice they feel will make the bank the most money. I would do the same thing and stop my direct depost.

[Genenco]

This is not uncommon...

Good for you. Banks never make the logical choice. They always make the choice they feel will make the bank the most money. I would do the same thing and stop my direct depost.

Yes Newstart, I did stop the DD.

In case anyone wonders, here's the scenario:

Bank rejected $535 on Nov 3rd, the payment was not to be processed till the 4th.

So, it rejected...

Then, on the 18th, the check was reinserted..(I have to speak to lawyer about this). My account (After $300 for food, cigs and gas) was left at $490 to the plus. So the $535 got "Partially" accepted. My account was negative $45

Now, the bank "Honored" the check, but then Citibank (2 cards through them) Cap One, HSBC (GM Card) and Lowes all hit..And they weren't more then $30 each, just letting them know I'm trying to get an answer...(Lawer has yet to respond, may go back to first one)

Now the checks bounced on the 18th. Reinserted on the 20th, 24th and 28th. $30 charge each time...

So, 5 x 30 x 3 = $450

Then they decided to "Return the $535" on the 26th! And they reinserted it and so, another $60...Now at -$510. I'm still tracking the extra $47, but foe now this is minor...

I find (After a google search) that this is VERY common with Wells Fargo and many other banks. They "Approve" the high checks, because they know (Or believe) that these are car/rent payments.

So, these people "Approve" the big checks and then the little ones get processed later (Even if they got to the bank first!) and so this is how the banks pad their bottom line.

Anyway, (This isin't a rant BTW I kind of like WF still...Sorta) so now I will have the thrill of seeing if they'll back down to a level (I think actual cash owed is $100 or so) which I'll pay and then they'll close account..Otherwise, they'll have a write off...

Good thing I had 2 dormant accounts with other banks...Guess they'll be ok to deal with...

[Minnymouth]

Similar case:

My neighbor has direct deposit (early Monday morning)
Tuesday nite she went to use her debt (check) card to pay for food and gas and was denied). She called the bank and bank told her that she could not draw money on the deposit on Monday with her debt card but SHE COULD write a check??????? Said she could not use the debit card for 5 days to draw off that Monday deposit. How stupid is that?????? She can write a check but not use a debt(check) card.....................
That way they can make interest off her deposited check for several days.....

Boy was she bent and embarrassed.......

Minny

[robivi3]

I've had direct deposit for 23 years (one bank only). The County no longer issues "paychecks", new hires must have a bank account. Never had a problem and the money clears immeiately. Also have and Account at Eastern Financial Credit Union (Easter Airlines CU) and have never had any difficulty, all checks clear the day of deposit. Some of these other banks seem to have off the wall policies from what I've heard.

[Genenco]

As I suspected, I called those who would send (Pay by phone) checks to the account to NOT DO SO.

Yep, the account was hit by 4 checks...Now it's $677 in the red...Sheesh! Actually it's $887, but I know they'll kick the checks back and fee me $30 each one so that's $120 + $557....Ahhhhahahahahaha!)

The more I see this, the better I feel about filing BK...Morons!

[tinroofrusted]

Give me a credit union over a bank anyday!


Geesh.

[tracy1878]

some credit unions are just as bad as a bank... thank goodness for bankruptcy, cash is now king!

[edwards2]

The credit union I do business with is great...geneco I so identify with what happened to you...my "other" bank told me they pay all of our checks out of courtesy to us...I said please(loudly in the bank) they dont do anything that doesnt benefit them. Bank fees are outrageous. As soon as our checks clear I am switching everything to our credit union.

As for debit cards...Minny....my husband had the same problem. He went to use our debit card and they told him he could not use his OWN money until midnight the next night....

Admittedly we need to do a better job of balancing our checkbook so in 2006 the debit card may go. It is too easy for us to forget to include debit charges.

[robivi3]

Hey, just the day i brag on Eastern Financial they swallow my wifes ATM Card. It turned out to be a mistake due to the fact that it had the wrong expiration date, issued 11/2005 expires 11/2005. They are very good though. City National Bank of Miami, 23 years, they are the greatest. I even met the President through my wifes boss years ago. THEY ALSO FINANCED BRAVEHEART, can't beat that. Look at the end of the movies, "Special Thanks to City National Bank.

[Genenco]

Hey, just the day i brag on Eastern Financial they swallow my wifes ATM Card. It turned out to be a mistake due to the fact that it had the wrong expiration date, issued 11/2005 expires 11/2005. They are very good though. City National Bank of Miami, 23 years, they are the greatest. I even met the President through my wifes boss years ago. THEY ALSO FINANCED BRAVEHEART, can't beat that. Look at the end of the movies, "Special Thanks to City National Bank.

I too loved one bank years ago..Far West Financial...Man, that was a bank if they asked me to jump, I'd not ask how high, I'd start doing it!.

They would hardly ever call me, but they'd send mail which was (Well, to one who understood it, which I didn't then) goldmines of onformaiton as to savings, retirment and how to start slow and build up...

Pity was, the ran afoul of the SEC and FDIC laws and got closed and sold...

(Funny thing was, I got a "Refund" from the "Trustee Account Holder" for $659.00 but I had that much out in checks..They paid the checks and gave me the money back..Weird!!!)

[davids]

funny

So I get a call from the bank (On a Sunday)

"Sir, you're negitive $557...."

"Say WHAT???"

"Yes, you're negative $557..."

I keep them online and go to the web site...Oh geeze...Pay by phone checks have been inserted and reinserted and reinserted! (I thought only once maybe twice) and so after each rejection, there's a $30 NSF charge...

"Hokay, looks like they really pounded me..Can we close the account so as to stop this and I'll start paying on it?"

"No sir, we can't close it"

"Why not?"

"Because it's negative"

"But if it's not closed, they may continue hitting the account"

"Yes, they may, but we can't stop it"

"But that doesn't help me"

"Sorry, but that's the rules"

"Oh? And what if there's no money coming in?"

"Then after 35 days we close it and then it goes to collections"

"So you're saying that you can't close it now and get the money back, but would rather let it go deeper and lose everything?"

"Sir, you have a direct deposit that will hit this Friday"
"Yes, but by that time, there may be more then what the check is, negative in the account"

"Sorry sir, but that's the way it goes"

"Not really"

"Oh sir, you can make a deposit today?"

"No, I'm going to cancel my direct deposit and you can chase me to the bankruptcy court and watch as the money I owe you, gets trashed...How that's for "The way it goes?"

"Sir, you can't do that!"

"Watch me"

"Click"

Sheesh! Guess I'd better get out another debt sheet....Bastards....

I am going through that with amsouth right now, when my account had a possitive bal, I told them, I am moving, please close all of my accounts, and I thought they did, 2 months later Ive come to find out, they have been processing drafts from compaines that I have also informed to cancel, and the bank doesnt care, for some reason they think im paying this, im not, so run up money you are not getting then you can decide to shut off the account, which I think they finally did...just be sure to report it to my credit before i file BK

[davids]

whats logical...

Good for you. Banks never make the logical choice. They always make the choice they feel will make the bank the most money. I would do the same thing and stop my direct depost.

it seems that compaines have this right, even if you just give them a paper check, if it comes back, do they really have the right to manually keep punching it in the machine? I have a CC machine, I guess I would also if someone owed me money, I guess I would keep trying until i got it.

[987654]

Man, that's HARSH! I got into a pickle once...I had expected a $1200 direct deposit from my merchant account, and I got a chargeback on one small item (they disputed receiveing it). So my merchant account people didn't deposit ANY of my current billables, "just in case I had more chargebacks". And didn't tell me...I had to call them once I started getting overdrafts to see what was going on. Jeesh...the actual official paperwork didn't come in for a few weeks!

I'd already written checks against at least half that money, so as soon as I found out I called my bank and they were actually nice! It was a small town bank, and they agreed to not only pay the checks I'd written, but waived the $30 a pop fees...I figure that saved me about $1000 between not having to pay each merchant $30-$60 a check and at least $60 each in overdrafts. It was really sore that I'd written many small checks for $10-$20 in gas, groceries, etc. But it took a month to get the money back into my account, and that was pretty much the beginning of the end for me...my credit card payments didn't get made and the interest rate hike, late payment fees, over limit fees and everything else just spiraled from there. When you go from $50 a month payments on 5 cards to owing a $200 each, there is just no way...I couldn't pay the minimums the next month, and so every month another $60 in over limit/late payments got tacked on.

But the bank I had before that...ARGHH. Our mortgage came out as a direct withdrawl, on a day that wasn't convenient (right before payday and we were always short a few bucks no matter how well tried to keep XXX in there). We asked the mortgage Co. to stop, we'd pay them direct, and they didn't stop. So we had the bank put a stop payment on it the following month...and they forgot to stop the payment! We'd already mailed out the payment, so we were $700 overdrawn. And since it was an 'extra' payment in the mortgage companies eyes, it didn't even apply to the next month...when our bank AGAIN failed to stop the payment!

So we wrote angry letters, left it overdrawn, it got closed, and they tried to sue us in small claims. I fought it tooth and nail and their lawyers called asking to settle it. I said "for how much" and they told me to name a number. I said I'd give them one stinking dollar (I owed them over $1000) if they also agreed to clear my chexsystems entry and dismiss the case. And they AGREED LOL. I suppose I probably could have gone after THEM for money, but it was back when I had somewhat good credit and I didn't want all that showing up on my file.

Banks suck, but I've learned my lesson...no automatic withdrawls EVER and I always wait for direct deposits to actually show up. I used to have all my payments automatic, too...and it just left me in debt every month.

[Genenco]

UPDATE (THIS IS A KILLER!!)

So, I decide to check the account...

Oh this is freaking funny! I am (As of this morning) negative -$1714,45

Not only are a couple of merchants re-inserting checks, but their "Fees" also!!

I have a bet with a family member I'll close with over $2,500.00 We're all just laughing about this and since I have caller ID now, I DON'T pick up the phone for basically anyone...Unless I see the ID and know it.

However, I think I may have some fun with WF by saying "Oh, I just won $1,000,000.00 and will deposit the check in 2 days"

S&G folks, that's all some of these scum are good for...


Have a nice day, One more Christmas shopping trip and that should be it..Hey, anyone know Lightnings addy? I have some fruitcake available!!