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WWTOTD: Banking edition
Posted on 6/7/16 at 3:44 pm
Posted on 6/7/16 at 3:44 pm
So I have a car loan through a credit union, and I have my checking through a major bank. We are in the process of quickly paying it off by throwing big(ish) checks at it every month.
So I deposited my check (let's say $2k+) at the credit union, and sure enough in a couple days it cleared on the credit union end. However on the checking account end there was no record of me ever writing a check. This was two weeks ago, and even after calling both credit union and big checking account bank to notify them of the situation, big bank claims they haven't seen it or processed it. The account has way more money than it needs to cash it, and has been so since I deposited the check, and the bank confirmed this.
My experience with these types of things lends me to think that I should probably try and fix the problem before it gets worse down the line, and someone claims I owe them money.
WWTOTD?
So I deposited my check (let's say $2k+) at the credit union, and sure enough in a couple days it cleared on the credit union end. However on the checking account end there was no record of me ever writing a check. This was two weeks ago, and even after calling both credit union and big checking account bank to notify them of the situation, big bank claims they haven't seen it or processed it. The account has way more money than it needs to cash it, and has been so since I deposited the check, and the bank confirmed this.
My experience with these types of things lends me to think that I should probably try and fix the problem before it gets worse down the line, and someone claims I owe them money.
WWTOTD?
10
Posted on 6/7/16 at 3:45 pm to NYNolaguy1
quote:
My experience with these types of things lends me to think that I should probably try and fix the problem before it gets worse down the line, and someone claims I owe them money.
This.
Posted on 6/7/16 at 3:45 pm to NYNolaguy1
huh?
Posted on 6/7/16 at 3:46 pm to NYNolaguy1
Go to the Credit Union and see if you can get a copy of the Payment Stub and the Check and take it back to your major bank and have them research it? 
Posted on 6/7/16 at 3:47 pm to tigerbutt
quote:
huh
Tl:dr I gave someone a check. They received money after cashing it. Money didn't get withdrawn from my account.
Posted on 6/7/16 at 3:50 pm to NYNolaguy1
just proceed a few more weeks with the knowledge that checking account is 2k less
Posted on 6/7/16 at 4:00 pm to Topwater Trout
quote:
just proceed a few more weeks with the knowledge that checking account is 2k less
Posted on 6/7/16 at 4:33 pm to NYNolaguy1
Bank with a local bank. The good ones get to know their customers and you get to know them. It's good having a banker you can text or call on the cell.
Posted on 6/7/16 at 4:37 pm to NYNolaguy1
Bank at the fricking credit union you idiot why the frick would you worry with all this shite fuk the MAJOR bank nonsense. If you had 1 financial institution you would not seek advice from the ot
Posted on 6/7/16 at 4:39 pm to Cracker
quote:
Bank at the fricking credit union you idiot why the frick would you worry with all this shite fuk the MAJOR bank nonsense. If you had 1 financial institution you would not seek advice from the ot
wait, wut?
Posted on 6/7/16 at 4:40 pm to NYNolaguy1
Banks will ALWAYS find the error eventually.
Posted on 6/7/16 at 4:42 pm to The Mick
It will clear eventually. Somebody screwed up and the bank will track it down.
Posted on 6/7/16 at 4:44 pm to NYNolaguy1
What the frick does the car have to do with this?
Posted on 6/7/16 at 4:45 pm to The Mick
quote:
Banks will ALWAYS find the error eventually.
My thought as well. I put in a request for a conference call between all parties involved to get it worked out. We'll see how it goes.
Posted on 6/7/16 at 4:46 pm to ksayetiger
quote:
What the frick does the car have to do with this?
Absolutely nothing. The car loan is central to the story though.
quote:
Tl:dr I gave someone a check. They received money after cashing it. Money didn't get withdrawn from my account.
This post was edited on 6/7/16 at 4:48 pm
Posted on 6/7/16 at 4:58 pm to NYNolaguy1
quote:
My thought as well. I put in a request for a conference call between all parties involved to get it worked out. We'll see how it goes.
That's an awful lot of effort. Why not just let it hang? They will eventually come looking for the $2k...or maybe they won't.
It's a shame it's not enough money to stick in an interest bearing account. If you're going to hold on to the banks cash, put that shite to work until they come looking for it.
Posted on 6/7/16 at 11:42 pm to ChandlerB03
quote:
Bank with a local bank. The good ones get to know their customers and you get to know them. It's good having a banker you can text or call on the cell.
Agreed. A lot of people don't understand the benefits of having a good local banker.
Posted on 6/7/16 at 11:44 pm to NYNolaguy1
quote:
So I deposited my check (let's say $2k+) at the credit union, and sure enough in a couple days it cleared on the credit union end. However on the checking account end there was no record of me ever writing a check. This was two weeks ago, and even after calling both credit union and big checking account bank to notify them of the situation, big bank claims they haven't seen it or processed it. The account has way more money than it needs to cash it, and has been so since I deposited the check, and the bank confirmed this.
The quickest way to resolve this is to go to the Credit Union and tell them that it hasn't cleared your checking account at Wellsfarchovia (or whatever big bank you deal with). If the Credit Union knows that the check is eventually coming back, they'll research to figure out where it went. It'll also save you from having a fee from a returned check on your payment, if your CU charges a fee for that.
In the future, I recommend writing cashier's checks for large payments like that. It comes out of your account immediately and from that point on it's the receiving bank's problem.
Posted on 6/7/16 at 11:45 pm to NYNolaguy1
You would be amazed at how haphazard large commercial banks are about their operations. Being out of balance several million dollars is NBD to them. My first real job was at a small community bank, and if our books didn't balance at the end of the day, nobody left until we figured out why.
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