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Strange banking situation

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  • Strange banking situation

    Ive been closely watching my checkings account as a $1960 auto insurance renewal is coming due 1/25.
    The online banking system with chase always has the available balance on top and off to the side is the ledger balance. There are usually pending charges that make up the difference between the ledger balance and available.

    Yesterday Morning i get to work and first thing check my account. I was shocked to see a charge from siruis for $109. This made the available balance 1800 or so. I remember this precisely becuase that sirius charge made me short of what i was trying to come up with for the insurance. I called sirius and they will credit my account for the unwanted auto renewal.

    Today i get to work and first thing check my account. Balance shows 980!!

    Although mathematically it is clear that those pending charges that posted yesterday make up this amount that im off - something seems wrong!!
    No way would i mess up that badly with planning...$1000 nearly!!

    There is one charge that was pending for $555 that posted. I've seen this same exact charge when i first ordered in November, then again last week, and now finally yesterday. However, when i go back it now only appears the one time (posted 1/22).

    I called the bank and they basically said just do the math.

    This month ive even ebayed some stuff to try to get extra $$ so it just doesnt make sense that im so short.

    Is it possible that something is in error with the bank despite debits and credits being accurate and that $555 appearing 3x but only posting the once?

  • #2
    Originally posted by InOverHead View Post
    I called the bank and they basically said just do the math.
    And that's what you need to do. Go back to the last time you know the balance is correct and do the math for each transaction to see what the correct current balance should be (sounds like you should go back to November to make sure the $555 only posted once). Then check what the current balance should be against what the bank says the balance is. If something is wrong on the bank's end, you need to figure out what it is and tell them before they can fix it, whether it be bad math or an error in a transaction. All the information you need to determine how the bank got to the current balance should be available in your online account information.
    LadyInTheRed is in the black!
    Filed Chap 13 April 2010. Discharged May 2015.
    $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

    Comment


    • #3
      I did. Something just doesnt seem right.

      I sorta have to believe that they are right and i am wrong. But still...i know i looked there yesterday and the available balance was 1800 or so. Unless for one day they didnt count the pending transactions in that total, i messed up. Which seesm nearly unbelievable that i would not account for that much. I really can hardly believe it!!

      Comment


      • #4
        I think the problem is relying on the available balance shown on the bank website. I suspect that the bank is not liable to you if they make an error. With online banking, I am sure many people have abandoned paper check registers and instead rely on the information online. We all really should keep our own paper or electronic check register to make sure we know how much we have to spend at any one moment. I could just as easily have the same kind of shock you did. I have quicken, but rarely update it. When I want to check my balance, I log onto my online account and rely on my memory of what transactions haven't yet posted. It's a really bad habit! I at least have a small savings account to cover any shortfall. But, it usually isn't big enough to cover a $1,000 shortage.
        LadyInTheRed is in the black!
        Filed Chap 13 April 2010. Discharged May 2015.
        $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

        Comment


        • #5
          InOverHead, will your insurance company let you make monthly payments? That's what I do. It costs $2 a month, but it's worth it to not have even monthly payments instead of a huge payment at renewal time.
          LadyInTheRed is in the black!
          Filed Chap 13 April 2010. Discharged May 2015.
          $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

          Comment


          • #6
            LitR, you're right i just rely on the online statement. Usually very very good at it but absolutely shocked that this happened now!
            The insurance billing - a few month before filing my credit card tried auto billing and was declined. becuase of that one time the ins company no longer gives any option other than pay in full. It's a steep penalty and i need to call again TODAY to try as one missed autopay (they were still payed) shouldnt have a life long impact.

            Here how when it rains its pours: One of my eBay listings got negative feedback. 10 years ive been selling, not crazy high but 50+ all positive reviews (and some ppl don't leave feedback) so i had a 100% positive Rep. Well, i get an email from buyer and says case is damaged and the coins have some toning. I replied immediately (within 30 minutes) that im not aware of case damage, if the packaging was messed up? and that toning and imperfection is inherent in coinage from what i know, but if he is unhappy i will work out a resolution. By the time i hit send he has already ruined my feedback. Now it's at 50% becuase of how eBAY calculates only recent transactions. I emailed him asking WTF and was told he want no resolution only to tell teh world how dishonest i am!

            There is no place i can see to write any defense or response and no way i can leave any feedback other than positive for him.

            Comment


            • #7
              InOver

              As to the ebay thing: make SURE that ebay doesnt refund the $ automatically to the buyer; its one reason we quit selling on ebay years ago. You (as the seller) get screwed - last time I wanted to sell again I discovered that ebay automatically refunds ANY complaints by buyers and once they figure out if YOUR claims are correct, only then will you receive payment back. I hate that sellers get screwed no matter what they do... sad really. You're also right that sellers have been "hit" with no allowing them to leave negative feedback for buyers any longer.. unless EBAY approves you the right to do so. Again, why we quit selling and why I wont do it again. Hope you can get it all taken care of.

              RE: banking - I've had the same charges listed as "pending" many times - the way it was explained to me is the company essentially puts a "hold" on your card (i.e., pending) and if the bank doesnt process it within X timeframe, it gets added back into your available balance - HOWEVER technically its not "available" since the charge will come around again. It seems this may be what happened to you since you saw the charge several times. I had one charge "pending", deducted, and added back into my avail balance three times due to the business's credit card machine / banking center having issues. They finally got it straight on their end and the charge finally processed 12 days later. I was worried they were charging me 3 times for the same thing since I "checked it off" out of my checking account ledger in order to balance my check book, but I kept up on it and saw it was only 1 charge when their machines were finally able to work. Whew!

              Insurance - ouch. In this day and age you'd think that they'd allow monthly payments, or even bi-annual - like most other ins. companies offer. We get to choose our plan - either yearly (discounted if paid in full) - bi-annual, quarterly, or a 9 month plan with 3 months off. We chose the 9 month plan, much easier given all the other bills we have.

              Hope you get it all figured out.

              Comment


              • #8
                Pandora!! Heyyyy

                Thanks...yea i'm working on it. The insurance did allow monthly deduction after all and it's not a bad cost at only $1 extra a month so long as it's auto drafted.
                The banking situation - i thought perhaps a charge from the past was reversed. It would have made more sense for me to be off that much if i was working with a 50k balance or something, but to only have 2k and be short in planning nearly 900 just seems crazy! i can't find anything so it is what it is...

                The ebay has my blood boiling! no money has been deducted thankfully. Buyer obviously wants the item and just wanted to leave negative. I've left negative only once in my life. That was when i did not receive the item and got no response ever from seller. I looked over thus guys history. 14-15 times he has left negative comments.

                Contacting ebay is a waste of time! They say that's the nature of feedback system, an opportunity to tell how you feel about a transaction and my only option to have it removed is requesting the buyer to do so. Im torn between being threatening and bribery!

                Comment


                • #9
                  Long time no see there In - where ya been hiding ?

                  Glad you were able to have ins. do monthly billing - it definitely makes for easier budgeting thats for sure. I hear ya with the ebay thing...frustrating to be sure. Hopefully you can get something resolved. I remember when as a seller, you could choose WHO you allowed to bid on an item - if someone had more than 2 negatives for non-payment within XX amount of time, I'd automatically cancel their bid and also had it as a stipulation under "seller rules". Unfortunately you cant do that any longer. Ebay used to be a great place to sell -when we were selling we'd do between $2-3K a month just dealing in antiquities. Shame...

                  Nice to see you again

                  Comment


                  • #10
                    Originally posted by InOverHead View Post
                    Here how when it rains its pours: One of my eBay listings got negative feedback. 10 years ive been selling, not crazy high but 50+ all positive reviews (and some ppl don't leave feedback) so i had a 100% positive Rep. Well, i get an email from buyer and says case is damaged and the coins have some toning. I replied immediately (within 30 minutes) that im not aware of case damage, if the packaging was messed up? and that toning and imperfection is inherent in coinage from what i know, but if he is unhappy i will work out a resolution. By the time i hit send he has already ruined my feedback. Now it's at 50% becuase of how eBAY calculates only recent transactions. I emailed him asking WTF and was told he want no resolution only to tell teh world how dishonest i am!

                    There is no place i can see to write any defense or response and no way i can leave any feedback other than positive for him.
                    Not to hijack this thread, but 'Hub and I have been permanently banned from eBay. Our g-daughter is living with us and because she had a customer screw up HER eBay account, all of us have been permanently banned. We are on a network and so she was using our network to do her eBay store. Not only does eBay ban by IP address, they also have the MAC addresses for all of our equipment and THOSE are banned. So if I want to take my laptop to the library and set up a new account, eBay will recognize the MAC address of my laptop, and it is not allowed.

                    You are right, eBay allows no kind of solution (not the word I am looking for), and it is nearly impossible to get to a 'live' person for an appeal. We had been with eBay since 1998 with a perfect 100% score.
                    "To go bravely forward is to invite a miracle."

                    "Worry is the darkroom where negatives are formed."

                    Comment


                    • #11
                      AC -

                      there are ways around the block... It really depends on what program they used to do it.... if you do a search you will see there are ways to get around it.

                      Comment


                      • #12
                        oh dear lord.. as soon as I typed that.. I could NOT get back into BKforum! Thought I was banned LMAO!

                        *please LAZ.. I'll behave...honest injun*

                        Comment


                        • #13
                          Originally posted by InOverHead View Post
                          Ive been closely watching my checkings account as a $1960 auto insurance renewal is coming due 1/25.
                          The online banking system with chase always has the available balance on top and off to the side is the ledger balance. There are usually pending charges that make up the difference between the ledger balance and available.

                          Yesterday Morning i get to work and first thing check my account. I was shocked to see a charge from siruis for $109. This made the available balance 1800 or so. I remember this precisely becuase that sirius charge made me short of what i was trying to come up with for the insurance. I called sirius and they will credit my account for the unwanted auto renewal.

                          Today i get to work and first thing check my account. Balance shows 980!!

                          Although mathematically it is clear that those pending charges that posted yesterday make up this amount that im off - something seems wrong!!
                          No way would i mess up that badly with planning...$1000 nearly!!

                          There is one charge that was pending for $555 that posted. I've seen this same exact charge when i first ordered in November, then again last week, and now finally yesterday. However, when i go back it now only appears the one time (posted 1/22).

                          I called the bank and they basically said just do the math.

                          This month ive even ebayed some stuff to try to get extra $$ so it just doesnt make sense that im so short.

                          Is it possible that something is in error with the bank despite debits and credits being accurate and that $555 appearing 3x but only posting the once?
                          It's stuff like this that makes me glad I no longer have a checking account and just use money orders and cash to pay for everything. My life is so much simpler now. And I find that I don't spend nearly as much money as I once did, because it is a lot harder to part with cash.
                          The world's simplest C & D Letter:
                          "I demand that you cease and desist from any communication with me."
                          Notice that I never actually mention or acknowledge the debt in my letter.

                          Comment


                          • #14
                            Originally posted by GoingDown View Post
                            It's stuff like this that makes me glad I no longer have a checking account and just use money orders and cash to pay for everything. My life is so much simpler now. And I find that I don't spend nearly as much money as I once did, because it is a lot harder to part with cash.
                            Thanks for chiming in goingdown, i can definitely see how living would be simpler w/out one. However, if time is scarce running around for money orders etc could complicate. Normally im really good with keeping track, and writing checks/debit cards are so much more convenient. I think i overspent over the holidays and muct not have factored the $555 purcahse from November as the #'s are what they are. As a whole i think you are on to something tho and moving to a more primitive lifestyle is actually a gaol. In fact i would like top move to a remote area away from anybody else. Get rid of cell phone etc...But in teh day to day life im currently living, checking accounts and creature comforts are almost necessities.

                            Originally posted by AngelinaCat View Post
                            Not to hijack this thread, but 'Hub and I have been permanently banned from eBay. Our g-daughter is living with us and because she had a customer screw up HER eBay account, all of us have been permanently banned. We are on a network and so she was using our network to do her eBay store. Not only does eBay ban by IP address, they also have the MAC addresses for all of our equipment and THOSE are banned. So if I want to take my laptop to the library and set up a new account, eBay will recognize the MAC address of my laptop, and it is not allowed.

                            You are right, eBay allows no kind of solution (not the word I am looking for), and it is nearly impossible to get to a 'live' person for an appeal. We had been with eBay since 1998 with a perfect 100% score.
                            It's just a rant so feel free to join in. Always good to hear im not alone in my dislikes...
                            I agree with pandora, bet there are ways around. But in reality it's total BS. Having a 100% positive was a badge of pride for me and for ebay to allow someone like this to repeadtely slander good standing members is rediculous. I've tried CL before but always had best luck on ebay so very dissapointed to have my REP tarnished. Ebay even admiited that they can see my emails and noted the time stamps. I replied 22 minutes after learning there was a problem!

                            Comment


                            • #15
                              Out of curiosity, has anyone tried selling stuff on Amazon as opposed to Ebay?

                              I've been selling off my CD collection that I built up during my college days (I converted them all to mp3s years ago and I no longer listen to the CDs) through Amazon, and it has been relatively easy for me.
                              The world's simplest C & D Letter:
                              "I demand that you cease and desist from any communication with me."
                              Notice that I never actually mention or acknowledge the debt in my letter.

                              Comment

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