Bouncing Checks

Dec 17, 2009 13:36

Oh - and as a PS theres some interesting posting going on in my friend Kevin's blog. Bounced check fees....they suck, yes. But the few times I've incurred them I've always thought "Hmm, my fault". But apparently NO. I was really interested to read some of the comments that people wrote. Apparently if I have 5$ and I spend 10$ its the fault of ( Read more... )

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cleverkitten December 17 2009, 22:46:59 UTC
Which bank does your friend work for? I have two different banks -- one is USAA, one is Wachovia (which I hate, but I wanted a local bank in addition to USAA).

Anyway, it just makes me laugh when I think back to when I was a kid (not even a kid, really) and my parents had to write down every single thing they spent, because you know, they had to write checks for it all! Or they'd save their receipts and then have a monthly "balance the checkbook" session. Debit cards have allowed us to get lazy. ;)

Also, we bought a leather jacket last year at Wilson's Leather, and the pending charge dropped off after a few days, and Wilson's didn't actually take the charge out until like 7 days later. Had NOTHING to do with the bank. The banks can't control when the merchant will charge your card. Same thing with backorders, when you buy online -- they don't charge your card until the merchandise is in, so you best keep track of the shit you order because even if it doesn't come in for another 6 weeks, they aren't going to give you a warning before they charge your card!

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jenny_rambles December 18 2009, 05:36:48 UTC
He works for Bank of America - he does something at their corporate headquarters in Charlotte though - he doesn't do any kind of hands on banking kind of things.

And yes! Also don't forget restaurants, they'll automatically authorize 20% onto your charge to take a tip into account but the real amount that you spend comes later..whenever they actually settle their cards.

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katzies December 18 2009, 08:18:03 UTC
When I was working at the bank I had a special snowflake at my counter complaining about a charge. He had written a check to someone who chose to not deposit it until 4 weeks later. By then, my snowflake had spent the money, the check bounced, both of them got hit with fees, the other person was mad and wanted money, he didn't have any, and somehow it was all the bank's fault.

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gatoruptown December 19 2009, 16:49:53 UTC
Cleverkitten, I'm the banker friend Jenn mentions. Your example with Wilson's Leather is EXACTLY the problem -- it's not the bank's fault if a merchant decides to take his/her sweet ass time putting a transaction through, and the temporary hold has already dropped off after a few days. So people who don't keep track of their spending themselves, in a checkbook or an online equivalent (which I LOVE, for the record), end up thinking they have more money to spend than they really will.

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