I had a good thing going collecting with paypal and transferring to X.com and using ATM to get the money from this nightmare of collecting money from customers. I know a lot of you guys did the same thing.
X.com announces that they close the bank within a month. I was in deep trouble I had a lot of checks out. I called them up one by one told them to my bank decided to close down and they need to cah the checks before Dec 1. Most of them cashed on time. But 1 check written to charity to St. Judes Cancer foundation bounced hard.
I wrote the check to them 2 months ago. X.com tells me I owe them $25 for insufficent funds.
I told them - I did my best in good faith about the situation and told them it is a very short notice to close the bank. I have waited and kept money in the account until the last day and they pushed me to close otherwise they would charge me $100 **** (this is the scam part because if you close the account with your own will X.com is safe then)and withdraw all my money. Check comes in Dec3rd and bounced.
- X.com's answer: I am responsible for all the checks I wrote. I had to keep money in my account but instead I closed my account(if I didn't I would pay $100 to them or I assumed X.com would close my account anyway so they said in an help desk e-mail before).
- I said : I have trusted your bank would be there for a long time not for a year and kepty money until the last minute. It is a good business opening a bank and giving people checks and make them bounce by closing the bank and charge $25 each(they had over a million customers)
- X.com answer: WELL THIS IS AN ONLINE BANK YOU SHOULDN'T TRUST
- I say: How about FDIC insurance, First western Union owns X.com you are giving checks to people you must honor the checks and have a decency to close after all your customers checks clears. You don't push people to close their accounts in this manner.
-X.com : You have to pay the fine I am not going to argue.
-X.com supervisior: You have to pay and learn how to write checks.
FUNNY PART: I asked them my check is in Tennessee. How will I get my check from them and pay them the same amount without getting my check bounce within 1 month. IDIOT SUPERVISIOR says send them a money order. I said Well what if they cash the check and the money order also instead of sending me as soon as they get the money order too. you don't pay people twice.IDIOT SUPERVISIOR goes Duh!
X.COM OWNS PAYPAL. I have been doing business happly with both of them for a year. Now PAYPAL will offer check and ATM card. When chit hits the fan you better cover your behind. Because these are legal companies. If I dont pay Xcom $25 for their fault they report to checking systems and I will not be able to open a checking account anywhere in the US. Happened to me before for a $2 ATM charge.
At the same time, my business reputation has been damaged big time. Because you don't tell your customers business ass. and tell them cash my check or it'll bounce. I called 13 of them. I mean this bounced one was a charity check they must be thinking whatta Ahole I am now.
