Need Advice. Finacial\legal

[Blackmount]

So here's the deal, I deposited a check the other day for xxxx$

So today I'm going through my finances online like always looking at my bank statement...find out I'm XXXX$ short...

Scroll down, i see right above the deposit "Deposit Correction" and they Debit me XXXX$ which is a hefty amount short of what my check was written for.

So tomorrow first thing in the morning what I'm going to do is go in with my deposit receipt and see if they can fix it back to normal and give me my money back, if they don't with the receipt, i will go and get a copy of the check i deposited.

If the copy of the check i deposited is still NOT enough for them to refund my money, what would be my next best option? like honestly what can i do? Talk about contacting an attorney?

I'm no lawyer, I'm only 19, can't really afford a lawyer of anysort, and i'm worried about Suntrust Banks Inc, taking advantage of me and me being screwed out of alot of money.

also what do i do if they try to charge me with some bullshit fee of fixing this when i had nothing to do with it in the first place?

[KZNSKY14]

Banks can and do do this for a number of reasons. It could be that the check written to you was on an account that had insufficient funds. Or it could be that your bank has a holding period on checks of a certain dollar figure. Something like they make 10% available now and the rest available in 2 weeks when they've insured that the check will clear.

[IPD]

when you live paycheck to paycheck, any hiccough in processing will f**k you. fair warning.

[HilbillyHomeboy]

As KZNSKY14 said, it could be any number of things. Just go in and talk to the bank. :)

Jeremy

[Blackmount]

Banks can and do do this for a number of reasons. It could be that the check written to you was on an account that had insufficient funds. Or it could be that your bank has a holding period on checks of a certain dollar figure. Something like they make 10% available now and the rest available in 2 weeks when they've insured that the check will clear.

Well, if my boss needed me to wait to deposit the check he would have told me so i don't think insufficient funds, cause if the company account goes dry he pays people out of his own savings until the company gets paid next.. (certian jobs have to wait 3 months before they pay us, and other people just try not to pay us and it takes about 6 months before the company will finally get paid.)

I've deposited about 2-3,000$ bigger checks then this before from work, and it's never caused a problem. I know they put a hold on it, so the check won't show up in my bank account till 12am that night.

I have had this account for about 5 years and never had this problem, but I've had other things happen where in the end I lose money due to the banks mistake.

Now that I've had some rest I'm not near as pissed about it, just still irritated. I'm getting ready to go in and talk to them in a little while.

[UTRacerX9]

It could just be a simple error. I wouldn't worry about it too much, even if you had debits on your account that get rejected and get charged a fee, I'm sure the bank will cover those if it's their mistake. Banks get sued for crap like that all the time, it's easier for them to just fix it and move on.

[AdamVR4]

I have had this account for about 5 years and never had this problem, but I've had other things happen where in the end I lose money due to the banks mistake.


WTF?! Get a new bank!

Federal... Credit... Union...


Customer Satisfaction With the Biggest Banks Plummets - NYTimes.com (http://bucks.blogs.nytimes.com/2010/02/16/customer-satisfaction-with-the-biggest-banks-plummets/)

Credit unions, in contrast, ranked the highest among financial institutions with a score of 84, unchanged from a year earlier.

[Emilie@GZP]

Well, if my boss needed me to wait to deposit the check he would have told me so i don't think insufficient funds, cause if the company account goes dry he pays people out of his own savings until the company gets paid next.. (certian jobs have to wait 3 months before they pay us, and other people just try not to pay us and it takes about 6 months before the company will finally get paid.)

I've deposited about 2-3,000$ bigger checks then this before from work, and it's never caused a problem. I know they put a hold on it, so the check won't show up in my bank account till 12am that night.

I have had this account for about 5 years and never had this problem, but I've had other things happen where in the end I lose money due to the banks mistake.

Now that I've had some rest I'm not near as pissed about it, just still irritated. I'm getting ready to go in and talk to them in a little while.

I would have changed banks the FIRST time they made a mistake that cost me money.

Go in and talk to them, find out what happened. If they give you the run around, speak with a lawyer, close your account, and file in small claims court for the money they removed from your account if they can not give you a legitimate reason.

[Blackmount]

Went in to the same bank i always go to when i have a problem cause the manager is a decent guy so he sorta knows who i am. ended up being the lady who took my check put something in the computer wrong or some rediculousness...whatever. as long as i have my money back

[BigTyla]

WTF?! Get a new bank!

Federal... Credit... Union...


Customer Satisfaction With the Biggest Banks Plummets - NYTimes.com (http://bucks.blogs.nytimes.com/2010/02/16/customer-satisfaction-with-the-biggest-banks-plummets/)

Not to mention the interest rates. My FCU is offering 2.49% on a 36 month new car loan and 2.99% for a 60 month!

[AdamVR4]

Not to mention the interest rates. My FCU is offering 2.49% on a 36 month new car loan and 2.99% for a 60 month!

Yeah, we got 2.5% or less on the 36 month new car loan we took out a while ago. Like $370 interest or some shit, LOL.

Only downside is the best interest rate I can hope for in a savings account (regardless of the amount in the account above $25K) is 0.50%, but it requires keeping $10K in the checking account (which I don't understand at all since it's the most vulnerable account). Guess I'll stick with 0.40% ...

[Blackmount]

for all i know it might have been on purpose and its automated thing they do for millions of accounts every-once in awhile and then they make money from people who don't notice. I can see it happening.

Banks\Government has done similar things.

[BigTyla]

Yeah, we got 2.5% or less on the 36 month new car loan we took out a while ago. Like $370 interest or some shit, LOL.

Only downside is the best interest rate I can hope for in a savings account (regardless of the amount in the account above $25K) is 0.50%, but it requires keeping $10K in the checking account (which I don't understand at all since it's the most vulnerable account). Guess I'll stick with 0.40% ...

I remember back in the day when interest rates on savings accounts were around 3.5%. Now I look at my savings account as nothing more than a storage bin for my green. The difference between 0.4% and 0.5% is so miniscule it's not even worth worrying about.

[AdamVR4]

for all i know it might have been on purpose and its automated thing they do for millions of accounts every-once in awhile and then they make money from people who don't notice. I can see it happening.

Banks\Government has done similar things.


When you deposit checks, do you get a receipt showing the deposit and current account balance? I always look at it to confirm accuracy before leaving. If they don't give you a receipt and this place has fucked up your transactions repeatedly......... How many times are you going to tolerate terrible service? Don't be a sucker.

[AdamVR4]

The difference between 0.4% and 0.5% is so miniscule it's not even worth worrying about.

Hey! That's a case of beer on $25K! LOL

(until you subtract taxes)

[Blackmount]

When you deposit checks, do you get a receipt showing the deposit and current account balance? I always look at it to confirm accuracy before leaving. If they don't give you a receipt and this place has fucked up your transactions repeatedly......... How many times are you going to tolerate terrible service? Don't be a sucker.

They always give me a receipt but it never shows my balance, just what i deposited, I check my bank statement daily so its hard for anything wrong to get passed me.

[HilbillyHomeboy]

Tellers are human; they make mistakes, and not all are created equal. My wife is a senior teller, amongst other titles, and I can tell you mishaps like this occur every now and again. Not due to some conspiracy, but simply a result of unintended error. Though, my wife has never had an error in her personal work, ever. But, she's a sharp, detail oriented, person that is obsessed with the rules and regulations...and that's why she's the boss. ;)

Jeremy

p.s. I am also a member of a local credit union. On my last vehicle I got 2.99 for 60 mos, on anything 06 or newer. The car I'm in now, I got the same rate from a national bank, as my local FCU couldn't match it. So, some of the banks are starting to compete on auto loans. My credit score is well into the 800's, so I do qualify for anything out there. :)

[UTRacerX9]

Bank of America charged me a $3 "transfer fee" last month for doing an ACH transfer from one bank to another... and they've never charged me that before. Coupled with their upcoming debit card fees, I'm probably going to look into switching. One hold up though is that I have one car note and my mortgage through them, so paying those is very convenient with my account there.

[Blackmount]

I thought it was bullshit i had a check that said "redeemable at bank of america" or whatever so i specifically went there as a oppose to walmart to get it cashed and have to pay a fee, and they ended up charging me 15$ to cash the thing! walmart it would have been like 2$....I also later found out my Bank cashes them free. so its like wtf. greedy fucks.

[HilbillyHomeboy]

Todd, you could keep the account, and only enough in it to cover the two notes. Have them auto-debited. That's what I do with my mortgage, not crazy about the bank it's at, but I don't feel like refinancing(even though I could save a substantial amount of money).

Blackmount - a lot of banks are doing that now. If you don't have an account with them, or if it's not a payroll check drawn on them(even then it doesn't always matter), they will charge. I'm with you on that one. If the check is wrote on you(the bank), funds are available. then you(the bank) should simply cash it, for free. My wife's bank is like that, no account, too bad.

Jeremy