posted on October 3, 2005 04:34:35 AM new
Beware! On Friday, I deposited $500 in eBay payments into my Charter One business account and $400+ into my job's Charter One business account. Got home from work and checked the accounts online. Both deposits were there. Before placing an order with my suppliers, I checked the balances on the accounts again. Both deposits disappeared.
I called customer service and they insisted I made no deposits. The receipts I had sitting in front of me said otherwise. So, since my branch is open on Sunday, I went up there. The first thing I get told is that this happens to a lot of their customers. Then comes the real kicker - they now have to "investigate" it and will give me a "provisional" credit on Tuesday. What that means is, no checks will bounce, but I can't touch any of the money either. Saying I was pizzed off is putting it mildly. Most of what I deposited was cash and the checks that I deposited were already cleared (I checked with the people who gave me checks). So, they have as I called it, stolen almost $1,000.
Apparently, the teller made a mistake when entering both deposits. I should have known because all of the tellers were playing around and not really paying too much attention to anything.
So, when you made a deposit especially at Charter One, CHECK to make sure you actually got that deposit credited to your account. Once this mess is straightened out, I'm pulling all four of my accounts. My BF is pulling his. He has over $40,000 in his money market account. I'm also talking to the partners at work today to close out the office business account. In all, they've lost almost $50,000 in deposits because of a screw-up they expect me to pay the price for.
posted on October 3, 2005 06:18:24 AM new
I've had a problem with my bank, lately, too.
At my old bank, and also on my PayPal debit card, purchases come through instantly. As in: literally that very second.
Lately it seems that check card purchases on this particular bank account don't show up until at least 3 days later. Deposits show up after a few hours (but seem to be taking longer and longer).
A couple of weeks ago, DH bought something with his check card without my knowledge, and I bought something as well, thinking there was enough money, and ended up bouncing an electronic transaction!
It really irked me, because how can you bounce something that's supposed to be instant? Either the money's there, or it's not. Either the purchase goes through, or it doesn't. It can't go through just fine one day, and then not go through later ... but apparently it CAN at this bank!
Grrrr ...
If that's the case, if I had $100 in my account, I could "spend" that $100 any number of times ... for at least 3 days!
I started to argue with them about it, but it's been happening so much lately that I think I'll make a statement with my feet ... and go bank elsewhere.
posted on October 3, 2005 07:07:52 AM new
I just got back from the branch where I made the deposit. Grrr. Provisional credit is all they'll do. Calling it a "system glitch". When all else fails, blame the computer. I'm surprised they didn't blame it on the hurricanes.
posted on October 3, 2005 08:13:08 AM new
Dewey - the problem that you are having is with the company you purchase from, not the bank. When you make a purchase, there is an immediate "autorization" charge. All that does is make sure that they money exists to cover the charge. When the charge goes thru however depends on when the charge is then finalized. Some companies do this immediately, some take a couple days. There is now a limit of three day in which they used to have to finalize the charge... used to be a week.
~~~ • ~~~ • ~~~ • ~~~ • ~~~
An intelligent deaf-mute is better than an ignorant person who can speak.
posted on October 3, 2005 08:38:41 AM new
Cheryl...Take your deposit slips to the manager and tell him he has 5 minutes to credit those deposits to your accounts or you will call the FDIC and report them as embezzeled funds. Then,make the call.
A $75.00 solid state device will always blow first to protect a 25 cent fuse ~ Murphy's Law
I have thought about that. What gets me is that if you bounce a check, they keep adding charges to it until you have it paid back. However, they can "lose" your money and you're supposed to sit back and wait for them to find it. Hmmm, it's beginning to sound like they're connected to paypal. LOL!
posted on October 3, 2005 09:29:37 AM new
I actually had this happen once myself. They did the "provisional" credit but within two days they finalized it. As far as I know in my case, they never did actually find the deposit. None of the checks ever cleared but since I had the receipt from the teller window they couldn't exactly deny recieving it. I think that's hat I like about B of A. They may not be perfect, and they may screw up but when you point out the problem to the right people, they always make it right. Some of their phone CS people are about as useful as a dried up Bic pen but onjce you move above them, it's a good bank.
~~~ • ~~~ • ~~~ • ~~~ • ~~~
An intelligent deaf-mute is better than an ignorant person who can speak.
posted on October 3, 2005 09:39:05 AM new
I think the worse mess I ever had with a bank was down in Florida. I had a Guardianship account for my Father and when he died Social Security typed into their computer the wrong year,they had he died the year before. So then they pulled all the funds out of the bank account saying it was paid in error. My Attorney gave Social Security until 5:00 that day to put it back. The bank dropped all the charges on the bad checks.
**********************************
Two men sit behind bars,one sees mud the other sees stars.
posted on October 3, 2005 10:19:56 AM new
I had the same thing happen a couple weeks ago at Charter One. I usually deposit my paycheck keeping only a few dollars, then go grocery shopping and use my debit card. This time, my debit card did not go through--What?? I just made a deposit. I went over to the bank to find out what happened. They gave me some song and dance about when the bill was signed about checks clearing that night it also said that DEPOSIT checks will not be posted till that night for available funds the next day. Really ticked me off because that means I can deposit a check and write a check in the same day. The check that I write will clear that day however the check I deposited will not be available till the next day which means I can be overdrawn!!!!! I was going to close my accout but wanted to check a couple other banks to make sure this is not uniform at all banks like Charter One said- but I just haven't had the time. So if anyone can check this out - I would love to know
posted on October 3, 2005 10:52:28 AM new
Lesson #1; I learned the hard way not to have multiple accts on one bank. I have my eBay act. in one bank & my personal acct in the bank across the street. I have done this for at least 8 yrs. When my mother died & I was executor of the estate, I set up a checking acct in the same bank as my personal acct. For some screwy reason the bank took money out of my acct on a check written on the Estate acct. This made me overdrawn & the bank was refusing credit my acct until I threatened to go the state banking commission. Bing! it was changed while I stood there.
posted on October 3, 2005 11:57:59 AM newwhen you make a purchase, there is an immediate "autorization" charge. All that does is make sure that they money exists to cover the charge..
No, not really, fenix. Federal Express is famous for that, and with Paypal they 'deduct' the authorization right there and then from your balance. Then another deduction for the actual purchasecomes in and then in two/three days you will get a credit back on the initial authorization. But the money is not available to use in your account, so it's not there - until they credit it back. So if you have say, 30 dollars in your account - and send a shipment for 14.90, you will get a charge for $15.00 ss an authorization, then the following day you will get the actual charge for 14.90, and if youre lucky, two days after that they will credit back the 15.00. But in the meantime, youre balance is nil. If they just put a placard for 1.00 - then I would say thats all that does, but they actually (whether PP or the merchant) hold double your money for a few days.
There was a good article on MSN about just such a thing. i was going to post it over here but then didnt get to it. If I find it again, I will post it. Warns about this kind of thing with merchants/Ccards.
.
.
posted on October 3, 2005 02:41:30 PM new
My mother had a good one. She opened a new checking account with $50 in it on a Friday. By mid-week she was getting bounced check notices in the mail. Lots of them amounting to hundreds of dollars. She hadn't written the first check yet!
Seems the teller at that bank assigned the same account number to TWO DIFFERENT PEOPLE and the other one wrote the checks. Whether she had ever deposited enough money in 'her' account to cover it or if it was intentional fraud, I don't know.
They eventually cleared it all up, but you have to wonder how something like that is even possible.
--------------------------------------
Quidquid Latine dictum sit altum sonatur.
posted on October 3, 2005 02:46:56 PM new
Never place all your finances in one egg basket - spread them around by having accounts at different banks, credit unions and brokers. And remember - Banking and Securities Regulators, Ombudsmen, and State Attorney Generals are your champion in any dispute.
posted on October 3, 2005 03:36:08 PM new
>>Dewey - the problem that you are having is with the company you purchase from, not the bank. When you make a purchase, there is an immediate "autorization" charge. All that does is make sure that they money exists to cover the charge. When the charge goes thru however depends on when the charge is then finalized. Some companies do this immediately, some take a couple days. There is now a limit of three day in which they used to have to finalize the charge... used to be a week.<<
It's the same way on every single charge, regardless of whether the charge is from Wally World, gas stations (paid inside), restaurants, post office, etc.
I can buy from these exact same places using my PayPal card, and it shows up instantly.
posted on October 3, 2005 03:42:44 PM new
DD - kind of depends on the bank. I know with BofA my entire deposit shows immediately but only 100.00 of it is available until they clear the deposit overnight. Of course that is at the ATM.
At the window there are a couple different variables including the issing bank of the deposit, the mood of the clerk and how big of a pain you made of yourself a few years ago a pain in the butt clerk put a two week hold on a payroll check.
In my case I made a REALLY big pain of myself about 4o'clock on Friday afternoon and a manager willing to do anything to shut me up but a permanent block on the ability to put discretionary holds on my deposits.
You might want to check into your banks policy regarding ATM deposits. Not only do you not have to wait in line but you do get immediate access to at least part of your deposit.
Dbl - That's because Fed-Ex is evil!!
Dealings with non evil companies go more the way I described. i.e. - Thursday I had charges against my card fora deposit to a supplier, Staples and Albertsons. Friday, none of those transactions were showing anymore and all of the funds involved were in my account. Today they are back, cleared and the funds have once again been removed (darn it!)
~~~ • ~~~ • ~~~ • ~~~ • ~~~
An intelligent deaf-mute is better than an ignorant person who can speak.
posted on October 3, 2005 03:51:22 PM new
dd, I thought payroll and govt checks are pretty much guaranteed for clearance on deposit? It's always been that way whereever I was.
dewey, with the postoffice you do not see an authorization charge and then an actual charge.
I never did/do. I know the gas stations do it, but they only post one dollar. I dont like the fact that if my purchase is 10.00, with some merchants you will be out 20.00 until a) they make the credit and/or b) your account holder posts that credit to your account.
.
Fenix: Dbl - That's because Fed-Ex is evil!!
hahaha! Evil and the cheaper shipper'er of the three. I once brought something to UPS and I couldnt believe the rate difference! I said to the guy, arent you people supposed to be somewhat competitive? Stupid clerk. He just looked at me and shrugged he could care less...but I saved money at fed ex..except I had to wait 2-3 days for the backend credit! lol! :0)
.
[ edited by dblfugger9 on Oct 3, 2005 03:55 PM ]
posted on October 3, 2005 04:09:28 PM new
And while were at it you know what i found too?
The grocery store over here does western union at the cs counter. Guess they got a conract with them or something. So go in there to cash a WU Money order and they freekn tell me, they only cash the ones THEY issue out of that store.
One of these days I am going to email Western Union and see if that is right. How can you have a contract to do their business, and then not want to cash a money order issued by that company? It doesnt make sense to me.
posted on October 3, 2005 04:19:04 PM new
You are trying to apply logic to Western Union? Silly Silly Girl!!
~~~ • ~~~ • ~~~ • ~~~ • ~~~
An intelligent deaf-mute is better than an ignorant person who can speak.
Tell ya what though, if WU should tell me that any place bearing the Western Union sign should cash a Western Union Money Order, I am going to go back to that store and rip them one!
posted on October 3, 2005 06:51:48 PM new
>>dewey, with the postoffice you do not see an authorization charge and then an actual charge.
I never did/do. I know the gas stations do it, but they only post one dollar.<<
I know about that, but that's not what I'm referring to. (That's why I mentioned "paid inside" rather than "paid at the pump". Paying at the pump produces a $1 temporary charge, while paying inside charges the actual amount, at least at the gas station we use the most.)
Here's a better example of what I'm referring to. Let's say I have two $5 packages to ship. I take them to the PO. I pay for one with my check card (used as a credit card). I pay for the other with my PayPal card (used as a credit card).
The $5 PayPal charge shows up in my account immediately. It's deducted right then.
It takes 3+ days for the $5 charge to appear in my bank account. No temporary $1 charge, no nothing, until at least 3 days later.
posted on October 13, 2005 12:55:49 AM new
I don't have a Charter One Bank account but I have been making deposits at my bank through the mpact machine. It shows up right then and I have access to it. If I go through the teller it can take until the next day or longer to be available. I have even deposited checks stating a business name which the tellers refuse. The mpact machine takes it and it clears. The mpact machines are handled by an outside service. Be sure you always get a printed receipt. I've used them for years and years. I even put cash in them. Never a problem. By the way I us Bank of America.
posted on October 13, 2005 04:09:44 AM new
Well, I again have to go to the bank to straighten them out. My deposit mysteriously showed up on the Monday after the Friday I complained to the bank. On Tuesday, they attached a credit memo to my account. Now, I have $500 too much in there. It's been nine days and I've been trying to wait to see how long it takes them to figure out they've given me an extra $500. It seems they're not going to figure it out. I don't like having money in there that doesn't belong to me. At almost $3 a gallon, it makes me mad that I have to waste gasoline over this crap.
posted on October 13, 2005 05:17:16 AM new
A waste of gas money AND your time ... time is money.
P.S. don't EVER deposit cash in a thru an ATM machine ... it is only as safe as the person who opens the envelopes. My family has been burned twice over the years, by depositing cash ... cash is only safe, transferred face to face. IMHO.
