Monday, July 14, 2008
Red Mojo's Rant: The Bank!
I sold my beloved Lucille in order to avoid setting up shop in a cardboard box just down the street from the enchanting but foul smelling turrets lady downtown. I sold her on eBay (the bike, not the turrets lady) and a very nice firefighter from a neighboring state won the auction.
Although he was very excited about getting such a great deal (approx. $6,000 less than I had invested in it) on such a gorgeous bike, it took him over three weeks to come pick it up and pay for it. Meanwhile, my money stress was growing with each passing day. I would wake up in the morning and run to the window to see if my truck was still in the driveway!
As payment, he gave me two certified bank checks, one for around $3,000 from his credit union, and one for around $12,000 from the bank that issued him a loan. I took them to the ATM, signed them, and deposited them immediately, it was close to 2:00 when he finally left. I figured since they were bank checks they wouldn't take long to clear.
The following Monday I transferred the bulk of the money into the account I pay things out of, and started electronically making payments. A week after I had made the deposit I saw the money get zapped back out of the account I'd transferred it to. Everything was about to hit, and the money was gone! I transferred the money back, sure that if it hadn't cleared when the transfer went through the first time, it would be cleared now. The time frame on an out of state bank check is "up to " 5 days.
The next day, six banking days after the deposit, the check still hadn't cleared. The seventh day, I went to the bank. They said the check was lacking a signature. I'm the only one on my account, I protested. They went and got a copy of the check, it had my name and the guy's name who gave me the check! His name shouldn't be on there! I felt stupid for not noticing that it was, but here's the kicker. The bank pulled the check the day after I deposited it. That was Thursday. Friday was a holiday, so it went out in the mail on Monday, and was mailed to my business address, a UPS box I only check if I'm expecting something.
"When a certified bank check for $12,000.00 dollars doesn't go through, you guys don't make a phone call? You just put it in the mail? Didn't it occur to you that there would be things coming in against those funds? That's a lot of money, it's not like it was a personal check for 50 bucks! Now there are all kinds of returned check fees, insufficient funds fees...is this how you guys make your money?! If someone had notified me on Thursday, maybe I could have done something to cover this, and I certainly could have taken care of it by now!" I said with my teeth clenched and veins popping out of my forehead, and sweat forming a glistening coat all over me!
"Come back on Monday, and you can sit down with a customer service rep. and get all the charges taken care of." the teller said, trying to calm me down and get me to leave peacefully. I did, but I really must write the rant!