|
Black Label Have you been treated good or bad? Share your story. This is the place to praise or shame |
![]() |
|
Thread Tools | Rate Thread | Display Modes |
#1
|
|||
|
|||
On-line banking transfers can fail
Here is a little cautionary story. I have been using on-line banking to transfer money between my accounts since 1997. It has always worked flawlessly; in fact I've grown so comfortable with it, that I stopped writing down confirmation numbers. You can probably see where this story is going.
One sunny day, I stopped by an ATM machine to get $20 for lunch. Terrified I discovered that my account balance was zero. Oh my... did somebody clean out my bank account? Nope, here is what happened: Somehow, an earlier transfer of the money to the checking account did not go through. I made the transfer several days before, but there was no record of it. So, when payments started hitting the account it quickly became depleted, and an interesting, and expensive chain of events ensued: 1 ? as the account balance goes below certain threshold, a monthly service fee kicks in: $9.50 2 ? overdraft protection kicks in: $20 3 ? finance charge on the amount of money used for overdraft protection: $x 4 ? if you don't discover the problem right away, multiply the previous two lines by the number of times overdraft protection triggers 5 ? what happens if overdraft goes over the amount of your credit line with the bank? I don't know but I guess, that is very unpleasant, and probably will leave a mark on your credit report too. Anyway. You can see, how a simple breakdown in the system that usually works can be very expensive. I recommend double-checking that your online transfers go through, and keep writing down those confirmation numbers. |
#2
|
|||
|
|||
aren't those confirmations emailed to yo when you move money between accounts? i know mine does.
or in your account history it will show the transfer. i would fight the charges and make them reverse them or move my account. |
#3
|
|||
|
|||
It was basically my fault for not verifying that the transfer actually happened. But banks sure do have a nifty system in place to kick you while you are down. Keep your diligence.
And you are right; you can 'fight' things like this. Sometimes banks will waive the charges as "a one-time favor" if nothing else. |
#4
|
|||
|
|||
so did they make you pay all of the penalties?
i hope you were able to get pout of them. there are plenty of banks out there anxious to store your money. |
#5
|
|||
|
|||
Speaking of bank accounts
![]() ![]() ![]() ![]() I'm about ready to go postal! ![]() ![]() ![]() |
#6
|
|||
|
|||
![]()
I've had significant problems with only one bank: BofA. When I make credit card payments they never send email confirmations. More often than not, it has failed, and I have to sort it out over the phone. Turns out they were storing a weird routing # for my checking account with a different bank. That wasn't even the end of the story. In short, they baited me into a 0% interest transfer, and found every way they could to screw me up from day one. In fact, they set my credit limit several hundred dollars lower than what they transferred. I have seen charges from payments I made months ago reappear mysteriously. Now they're trying to extort me for penalties, etc., and screwing up my credit for things their system screwed up. I was spending at least an hour on the phone with them every month. I think they're crooks.
|
![]() |
Bookmarks |
Thread Tools | |
Display Modes | Rate This Thread |
|
|
![]() |
||||
Thread | Thread Starter | Forum | Replies | Last Post |
Winching | Robert A.M. Stephens | Jeep Friends Forum | 98 | 04-25-2005 12:47 PM |
Brake line issues--Front D30 with 'stock' '91 caliper | mbryson | Technical Forum | 7 | 05-19-2003 03:00 PM |
New line available soon | mrblaine | Jeep Friends Forum | 3 | 07-17-2002 12:36 PM |
Line Lockers | Art Welch | Jeep Friends Forum | 1 | 04-29-2002 08:08 PM |
Masterpull Line Observations and Cheap Protection | Hellbender | Jeep Friends Forum | 1 | 06-26-2001 04:16 PM |