Re: @#$%! Banks

Posted by Wayne on December 12, 2003 at 22:05:22 from (205.188.208.73):

In Reply to: @#$%! Banks posted by Michael on December 12, 2003 at 20:12:18:

Hey Michael, watch them if they send you a letter saying one of the checks was returned for insuficient funds, and don't write another to cover it until you know 100% for sure what happend to it. My bank,( ex-First Union) now Wachovia did basically the same thing to me and it hit me with my October mortgage payment. Like you I have been with them since the late 80s. They said my mortgage check bounced. NEVER had one bounce before, sent me the letter and all, yet two days later honored the check. Somehow it had gotten run through before my deposit..???... Problem was they could send out a NSF letter the same day and I had it in less than a week, but never did they send one to say that they did in fact honor it. By the time I discoverd they had in fact cleared it I had already written another to cover it, since I knew the money was there, and sent it off. After it bounced once because they had in fact honored the first one it then cleared two days later with another deposit. That left this particular account really low, and was just the start of a really big mess. Funny thing though the mortgage company said they never showed the check as being returned and my account with them was still flawless...strange... Long story short, it took me $120 in fees from 3 checks that bounced and transfer fees from another account to cover others before they did, along with a few trips to the bank to raise He-- to get it straightend out. I found out that just because they say a check is returned doesn't mean it is in any way bad or no longer any good, that is up to the person/company you wrote it to to determine when it is really no good. They can hang on to it as long as they want and present it as many times as they want until it clears. Heck, if they present it elctronically, I guess if they really wanted to, they could be mean and do it several times a day and really run the fees up on you til the deposit clears. Just beware and cover your a$$ as best as you can.

Follow Ups:

• Re: Re: @#$%! Banks tlak 02:30:35 12/13/03 (1)
  • Re: Re: Re: @#$%! Banks steveormary 20:51:20 12/13/03 (0)

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