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I worked for First Interstate Bank in CA while in college. The ranting and raving and excuse-making we’d hear from people who bounced checks was very reliable, and very annoying. People would become quite abusive with our staff for their own mistakes/failed attempts to float funds.
I’d remind customers DAILY that post-dated checks are still payable upon sight. Don’t try saving your butt until payday by sending out post-dated checks. Many banks will process a check as long as it isn’t stale-dated (over six months old). Some will even process a stale check. If you write it, and someone deposits it, it’s a legal transaction.
Other customers would attempt to kite money by depositing empty deposit envelopes, or envelopes with fake “deposits” into an ATM machine then try to run checks through before their “mistake” was discovered.
Bank staff have seen and heard it all. lol. Many of these customers HAD overdraft protection ... but had it already maxed out. Many systems have changed since my time at a bank and it’s much more difficult now to cheat. Good!
Both were so long ago I honestly can't recall whether I did try to recoup the fees or not. I just wanted to counter the numerous posts that were saying the only reason someone bounces a check is a lack of personal responsibility. That certainly is true in some, maybe most, cases. But it isn't the only reason.
I am going to say that you are the exception and not the rule. Again, I think the people we are talking about are the repeat offenders. If the bank makes a mistake, it's also your job to work to correct it. I once had a bank cash a check for like 9 cents more than I had written it for. I made them fix it.
I worked for First Interstate Bank in CA while in college. The ranting and raving and excuse-making we’d hear from people who bounced checks was very reliable, and very annoying. People would become quite abusive with our staff for their own mistakes/failed attempts to float funds.
I’d remind customers DAILY that post-dated checks are still payable upon sight. Don’t try saving your butt until payday by sending out post-dated checks. Many banks will process a check as long as it isn’t stale-dated (over six months old). Some will even process a stale check. If you write it, and someone deposits it, it’s a legal transaction.
Other customers would attempt to kite money by depositing empty deposit envelopes, or envelopes with fake “deposits” then try to run checks through before their “mistake” was discovered.
Bank staff have seen and heard it all. lol. Many systems have changed since my time at a bank and it’s much more difficult now to cheat. Good!
I promise if you are a good customer and it was a one time honest mistake, they will give you the benefit of the doubt. I just had a situation where I missed a credit card payment at Chase. I saw it when I logged into my account and I was like how on earth did that happen? I assumed it was because I missed the email with the statement notice and paid it and paid the late fee. Then, the next month it happened again. I called the bank immediately to see what could have gone wrong and somehow, we figured out the email on the account was my husband's and I had only used the card one day when I didn't have my other card. So it was missed. I had only been a few days late. They agreed to reverse the two late fees and they reversed the tiny amount of interest. Had I been a bad customer or someone who bounced checks, they wouldn't have done that.
I have a credit card with Chase and they have some screwy ways of dealing with transactions. I am in the process of remodeling my kitchen. I used my Chase VISA card to pay for my appliances. The total was $21,000 and I did it to get my 1.5% cash back. I paid the bill off immediately as soon as the charge posted to my account. Chase took the money from my checking account immediately, but it took over 7 days before the credit was processed on my VISA account. I wonder what they did with my money for that week?
People write checks in exchange for goods and service. There is a tendency for people to perceive check bouncing as an ooops, instead of a crime.
Stealing $X of goods is a crime, felony or misdemeanor, depending on state.
Despite California receiving media attention for increasing its threshold to $950, 39 states have higher thresholds. Texas and Wisconsin have the highest thresholds for felony theft at $2500. NJ @ $200 and Il, Ky and NM @ $500 have the lowest thresholds.
That has not been the case for over 10 years. When you write a check at a store, the cashier feed the check into a reader and the computer read the magnetic numbers at the bottom of the check. It is process the same as a debit card and the money comes out of your account the same day. There is no more "float" as in the past.
Float time is the how long it takes for the check to go from the payee (or their bank) through clearinghouse, and back to the payer’s bank. Yes, checks can go through the clearinghouse in the same day, but what happens when the check bounces is a different process, and what I am specifically referring to.
I have a credit card with Chase and they have some screwy ways of dealing with transactions. I am in the process of remodeling my kitchen. I used my Chase VISA card to pay for my appliances. The total was $21,000 and I did it to get my 1.5% cash back. I paid the bill off immediately as soon as the charge posted to my account. Chase took the money from my checking account immediately, but it took over 7 days before the credit was processed on my VISA account. I wonder what they did with my money for that week?
No idea. My Chase payments are usually posted immediately. Even my B of A Visa payments are posted a day out and they aren't even the bank I used to pay.
I did. It was eye-opening how many schemes people invented. Sure there’s plenty of innocent bouncing. It happens. Having pending checks out there for awhile is no excuse, though. Your register balance is your balance, NOT what it shows you have available online. I cannot stress this enough. Once you deduct money from your register that money is GONE. If you forget about that outstanding check, or figure it’s been out there so long you have another day or two to float funds, I’m here to tell you that it will bite ya in the butt every single time.
At FIB you got an allowance of 10 bouncers. After that your account was closed and you were referred to Chex Systems. Once that happens you aren’t opening a new account ANYWHERE.
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