So my Bank just screwed me over, again

[Soviet Heavy]

Okay, quick background. Usually banks are closed on holidays in Canada, such as new years. And usually, banks don't process their own transactions, they need to be sent to the main center where they process them a few days later. Your account has the money, but the actual process can take a few days.

So, christmas just passed, and unfortunately it turned out I was a little short on rent. Due to a miscommunication with my landlord, she went ahead and cashed my cheque without asking me if I had enough (despite her asking literally every month beforehand if she was good to do so). So, desperately thinking, I managed to snag some money from my parents, and I attempted to cash it. Usually, when you have cash instead of cheques, it is processed immediately. But for some reason, the bank cashed the cheque first, and the cash a day late. So my cheque bounced, I get fined, and my landlord is pissed. So now I owe her money for rent as well as the fine she also got for not being able to pay her bills.

So thanks a fucking lot bank, I try to come up with a solution and you just go ahead and do that. End rant.

Have you ever had to deal with the bank pulling stupid crap like this? Any financial horror stories?

EDIT. For all of you asking why I wrote a check I couldn't cash, as per our agreement with the landlord, our house would give them post dated checks that they could cash at the beginning of the month. I've never been late on a rent check before, and I tried negotiating with my landlord for some more time so I could get paid.

I'm not mad at the bank for me being late with rent money, I'm mad at the bank because they processed the check before they processed my cash deposit, which I'd put in on the same day. Checks usually take a couple days to clear just in case I needed to cancel it, but they cashed the check the day after it was deposited. When it's deposited on a holiday, like new years, it shouldn't have processed before a direct cash deposit. Yet that is what happened.

So don't go admonishing me for not having enough cash in my account and writing checks I can;t cash. I talked it out as best I could with my landlord and she understood what happened. I'm mad at the bank for putting it through before a direct cash deposit.

 

[omega 616]

I used to buy a lot of stuff on my debit card, the problem was the money would only come out 2,3 maybe even 4 days later. I usually kept a good idea on how much cash I had but occasionally I messed up and got stung with a HEFTY charge, £20 a day.

All of which I paid off without question 'cos hey, I fucked up and it's time to pay up. It happened about 4 times in about 2 years.

The way my bank works is it only checks my account at 3:30pm each day. I would get paid benefits money between thursday/friday midnight-3 am.

One time I had a couple of pennies in my account on Thursday and I waited till 5 and bought some food for the next couple days. About a week later, I get a "you went over drawn bend over so we can take way more than is reasonable!", confused I went to my bank.

Turns out the payment went in a day late, so when they checked my account 3:30 on Friday and I was over drawn they sent me a letter. After explaining that it's not my fault it was the benefits office I get told this "We have wiped charges off your account before, so if we do it one more time we will have to give you a cash card for 5 years".

Well, I made a bit of a scene 'cos I know I had paid up the other times, so I argued the toss for about 5 minutes in front of a bank full of people ... not that it changed anything.

Still was stuck with a cash card for 5 years (which meant no online shopping or paying on the card, always had to withdraw money) but at least I didn't have to pay an insane amount of cash.

A little video about the topic.

 

[Elfgore]

This is why I love my bank. Anything I buy gets instantly taken out of my funds. I also have overdraft protection so if I try and go over my card gets declined.

But then again I've only being dealing with a bank for the past seven or eight months. Problems are bound to come up eventually.

 

[DudeistBelieve]

not the banks fault as much as the grocery store I work at. I don't have a debit card, so instead I use to write checks over the amount to get money when I needed it. The money usually came out the next two days.

One time I did it, yadda yadda, it didn't go through for 3 days, I forgot about it, got charged an over draft fee.

So a few weeks go by, I'm in desperate need for cash so I write a check out again. Turns out, when you write my store a bad check from then on they charge you an extra 20 dollars on top of any other purchase. really fucked up my Christmas shopping.

 

[Gnomercy]

I usually just lurk but since i've worked at a bank for five years in this kind of department I figured i'd chime in.

It does suck that the holidays and funds availability can mess up a normal routine but that stuff can be difficult to understand. Like ATM deposits have different availability than teller transactions. I am only familiar with US regulations regarding funds availability so I can't really comment on the how or the why for anything outside of the US.

But in general, if you are writing checks off funds that are not in your account you are setting yourself up for trouble.

I work at a smaller community bank and this kind of stuff is easy to deal with since we pay attention to every overdraft and analyze each account to see if anything is pending. We even call the customer to see what's going on and ask if we should pay certain checks or not (provided we can get in touch with them).


I know sometimes you really need to write checks without the funds available quite yet, it's just you cant really blame the bank if things go bad. This situation could still be their fault regarding the cash/check deposit, but like I said there are far too many details missing to determine that.


Hope this helps!

 

[Albino Boo]

Pretty much everywhere Cheques take days to clear and debits are always taken before credits. So if pay a cheque in on the same day as paying one out the funds will leave your account before the funds will be paid in. Its a centuries old convention in banking and applies to everyone http://en.wikipedia.org/wiki/Clearing_(finance). There plenty of ways transferring money instantly to your account if you had used one of those instead of a cheque you wouldn't have a problem. Fundamentally don't write a cheque unless you have funds to cover it.

 

[Soviet Heavy]

I wrote post dated cheques for the first of each month. Since the banks are closed on New Years, I assumed it would take them a couple days to clear.

 

[Scarim Coral]

Last year, my family were sorting out the shares kept in the bank (I won't go into detail) and the guy said that if they want to do it the same with my bro (it was for me and my bro), we would have to do it at the other bak at the next town over (something to do with limitation with the share stuff). Once we got the detail sorted out the next day, apparently we can do what we wanted without going to the next town over despite what the guy say. Sure I wasn't taht bother per say but it was an hassle to sort it out.

 

[lacktheknack]

Nope, my bank is lovely and I don't see myself switching banks. They've done a couple weird "out of order" transactions, but I've always had enough money to cover it.

 

[Pimppeter2]

erased

 

[Lyri]

So, christmas just passed, and unfortunately it turned out I was a little short on rent. Due to a miscommunication with my landlord, she went ahead and cashed my cheque without asking me if I had enough (despite her asking literally every month beforehand if she was good to do so).

The lesson, dear reader is not that your bank "fucked" you. But that you shouldn't be writing checks you can't cash in the first place.

^

Why exactly are you writing checks and giving them to your landlord, knowing that you are short. Surely you would explain the situation to your landlord before you write a check out in front of him with a negotiated amount?
I'm not seeing how this is the banks fault at all.

 

[kaizen2468]

That's too bad. Im also canadian but when I make a deposit it is instantly applied to my balance.

 

[Moderated]

I've had no problems with my debit card. I have it set up to not overdrawing and to text me whenever more than 30 dollars is spent in a day.

 

[Soviet Heavy]

^

Why exactly are you writing checks and giving them to your landlord, knowing that you are short. Surely you would explain the situation to your landlord before you write a check out in front of him with a negotiated amount?
I'm not seeing how this is the banks fault at all.

at the start of our lease, we gave our landlord post dated checks for each month that we'd be living here. Every month, she would ask us if she was good to cash the checks or if we needed an extension until we had enough cash in our accounts. I did explain the situation with my landlord, but this month she forgot to ask beforehand, and I was late getting back to her to explain what happened. Then the bank cleared the check before I had the chance to put in a direct cash deposit, despite the fact that that should have been processed first, as checks can take a few days to clear, even if they're post dated.

 

[FoolKiller]

Okay, quick background. Usually banks are closed on holidays in Canada, such as new years. And usually, banks don't process their own transactions, they need to be sent to the main center where they process them a few days later. Your account has the money, but the actual process can take a few days.

So, christmas just passed, and unfortunately it turned out I was a little short on rent. Due to a miscommunication with my landlord, she went ahead and cashed my cheque without asking me if I had enough (despite her asking literally every month beforehand if she was good to do so). So, desperately thinking, I managed to snag some money from my parents, and I attempted to cash it. Usually, when you have cash instead of cheques, it is processed immediately. But for some reason, the bank cashed the cheque first, and the cash a day late. So my cheque bounced, I get fined, and my landlord is pissed. So now I owe her money for rent as well as the fine she also got for not being able to pay her bills.

So thanks a fucking lot bank, I try to come up with a solution and you just go ahead and do that. End rant.

Have you ever had to deal with the bank pulling stupid crap like this? Any financial horror stories?

Wow. So you screw up and because it doesn't act the way you think it should, you're pissed at the bank. You have tried to find all sorts of excuses but really, this is just your fuck up and no one else's. Grow up and stop blaming others for your mistakes.

 

[Soviet Heavy]

Okay, quick background. Usually banks are closed on holidays in Canada, such as new years. And usually, banks don't process their own transactions, they need to be sent to the main center where they process them a few days later. Your account has the money, but the actual process can take a few days.

So, christmas just passed, and unfortunately it turned out I was a little short on rent. Due to a miscommunication with my landlord, she went ahead and cashed my cheque without asking me if I had enough (despite her asking literally every month beforehand if she was good to do so). So, desperately thinking, I managed to snag some money from my parents, and I attempted to cash it. Usually, when you have cash instead of cheques, it is processed immediately. But for some reason, the bank cashed the cheque first, and the cash a day late. So my cheque bounced, I get fined, and my landlord is pissed. So now I owe her money for rent as well as the fine she also got for not being able to pay her bills.

So thanks a fucking lot bank, I try to come up with a solution and you just go ahead and do that. End rant.

Have you ever had to deal with the bank pulling stupid crap like this? Any financial horror stories?

Wow. So you screw up and because it doesn't act the way you think it should, you're pissed at the bank. You have tried to find all sorts of excuses but really, this is just your fuck up and no one else's. Grow up and stop blaming others for your mistakes.

How about you go and read that edit I put in? The bank should have processed my cash deposit before it processed the check. Yeah I'm mad, but don't fucking think I was sitting on my ass the whole time feeling sorry for myself. I was running around all goddamn day trying to drum up the money I'd need and get it into my account before it cleared. And they still put the check through before the direct cash deposit, which shouldn't have happened.

I tried to fix my mistake as best I could, and it should have worked, but it didn't. Yeah, I think I'm allowed to be mad about that.

 

[FoolKiller]

Okay, quick background. Usually banks are closed on holidays in Canada, such as new years. And usually, banks don't process their own transactions, they need to be sent to the main center where they process them a few days later. Your account has the money, but the actual process can take a few days.

So, christmas just passed, and unfortunately it turned out I was a little short on rent. Due to a miscommunication with my landlord, she went ahead and cashed my cheque without asking me if I had enough (despite her asking literally every month beforehand if she was good to do so). So, desperately thinking, I managed to snag some money from my parents, and I attempted to cash it. Usually, when you have cash instead of cheques, it is processed immediately. But for some reason, the bank cashed the cheque first, and the cash a day late. So my cheque bounced, I get fined, and my landlord is pissed. So now I owe her money for rent as well as the fine she also got for not being able to pay her bills.

So thanks a fucking lot bank, I try to come up with a solution and you just go ahead and do that. End rant.

Have you ever had to deal with the bank pulling stupid crap like this? Any financial horror stories?

Wow. So you screw up and because it doesn't act the way you think it should, you're pissed at the bank. You have tried to find all sorts of excuses but really, this is just your fuck up and no one else's. Grow up and stop blaming others for your mistakes.

How about you go and read that edit I put in? The bank should have processed my cash deposit before it processed the check. Yeah I'm mad, but don't fucking think I was sitting on my ass the whole time feeling sorry for myself. I was running around all goddamn day trying to drum up the money I'd need and get it into my account before it cleared. And they still put the check through before the direct cash deposit, which shouldn't have happened.

I tried to fix my mistake as best I could, and it should have worked, but it didn't. Yeah, I think I'm allowed to be mad about that.

1. I read all of your rant. Even though it's not clear, I managed to piece together what happened. Essentially you're saying that your landlord cashed your rent cheque on the same day you tried to deposit the cash you received from your parents. Is this correct? Did you deposit it at a machine or with an actual teller? If this is wrong, could you clarify it then? Give dates etc.

2. Based on the info you gave and my above interpretation and assumption that you deposited the cash using a machine, you are just wrong. The bank did exactly what it does and was expected to do. They didn't fuck up. Your assumptions of how the bank system works was erroneous and caused the problem. Your solution shouldn't work. If you want, I can explain what happened and why it happened, but again, I need to be sure of the situation.

3. I didn't think you sat around not trying to fix the situation, or feeling sorry for yourself. I'm saying you screwed up and are trying to blame the bank for something that you did incorrectly. The bank didn't screw you over. You did.

 

[Soviet Heavy]

Okay, quick background. Usually banks are closed on holidays in Canada, such as new years. And usually, banks don't process their own transactions, they need to be sent to the main center where they process them a few days later. Your account has the money, but the actual process can take a few days.

So, christmas just passed, and unfortunately it turned out I was a little short on rent. Due to a miscommunication with my landlord, she went ahead and cashed my cheque without asking me if I had enough (despite her asking literally every month beforehand if she was good to do so). So, desperately thinking, I managed to snag some money from my parents, and I attempted to cash it. Usually, when you have cash instead of cheques, it is processed immediately. But for some reason, the bank cashed the cheque first, and the cash a day late. So my cheque bounced, I get fined, and my landlord is pissed. So now I owe her money for rent as well as the fine she also got for not being able to pay her bills.

So thanks a fucking lot bank, I try to come up with a solution and you just go ahead and do that. End rant.

Have you ever had to deal with the bank pulling stupid crap like this? Any financial horror stories?

Wow. So you screw up and because it doesn't act the way you think it should, you're pissed at the bank. You have tried to find all sorts of excuses but really, this is just your fuck up and no one else's. Grow up and stop blaming others for your mistakes.

How about you go and read that edit I put in? The bank should have processed my cash deposit before it processed the check. Yeah I'm mad, but don't fucking think I was sitting on my ass the whole time feeling sorry for myself. I was running around all goddamn day trying to drum up the money I'd need and get it into my account before it cleared. And they still put the check through before the direct cash deposit, which shouldn't have happened.

I tried to fix my mistake as best I could, and it should have worked, but it didn't. Yeah, I think I'm allowed to be mad about that.

1. I read all of your rant. Even though it's not clear, I managed to piece together what happened. Essentially you're saying that your landlord cashed your rent cheque on the same day you tried to deposit the cash you received from your parents. Is this correct? Did you deposit it at a machine or with an actual teller? If this is wrong, could you clarify it then? Give dates etc.

2. Based on the info you gave and my above interpretation and assumption that you deposited the cash using a machine, you are just wrong. The bank did exactly what it does and was expected to do. They didn't fuck up. Your assumptions of how the bank system works was erroneous and caused the problem. Your solution shouldn't work. If you want, I can explain what happened and why it happened, but again, I need to be sure of the situation.

3. I didn't think you sat around not trying to fix the situation, or feeling sorry for yourself. I'm saying you screwed up and are trying to blame the bank for something that you did incorrectly. The bank didn't screw you over. You did.

It was January 1st, the bank was closed. Try contacting them on a civic holiday. The only option I had was going to a machine. The bank doesn't process checks at the branch, but instead they send them to the main office where they are processed. Considering that the time a check takes to clear can be days, I and my landlord assumed that it would be a few days at least, since they wouldn't have started clearing it on a civic holiday.

How was I supposed to tell the bank not to cash a check on the day that it was closed? Especially when the check was cleared the next day? I put the money into my account on January 1st, since I know that checks aren't processed on holidays. So it should have been fine, but the cash deposit wasn't processed until the 3rd, and the check was processed on the 2nd. That shouldn't have happened if both the check and the money were deposited on the same day.

 

[FoolKiller]

1. I read all of your rant. Even though it's not clear, I managed to piece together what happened. Essentially you're saying that your landlord cashed your rent cheque on the same day you tried to deposit the cash you received from your parents. Is this correct? Did you deposit it at a machine or with an actual teller? If this is wrong, could you clarify it then? Give dates etc.

2. Based on the info you gave and my above interpretation and assumption that you deposited the cash using a machine, you are just wrong. The bank did exactly what it does and was expected to do. They didn't fuck up. Your assumptions of how the bank system works was erroneous and caused the problem. Your solution shouldn't work. If you want, I can explain what happened and why it happened, but again, I need to be sure of the situation.

3. I didn't think you sat around not trying to fix the situation, or feeling sorry for yourself. I'm saying you screwed up and are trying to blame the bank for something that you did incorrectly. The bank didn't screw you over. You did.

It was January 1st, the bank was closed. Try contacting them on a civic holiday. The only option I had was going to a machine. The bank doesn't process checks at the branch, but instead they send them to the main office where they are processed. Considering that the time a check takes to clear can be days, I and my landlord assumed that it would be a few days at least, since they wouldn't have started clearing it on a civic holiday.

How was I supposed to tell the bank not to cash a check on the day that it was closed? Especially when the check was cleared the next day? I put the money into my account on January 1st, since I know that checks aren't processed on holidays. So it should have been fine, but the cash deposit wasn't processed until the 3rd, and the check was processed on the 2nd. That shouldn't have happened if both the check and the money were deposited on the same day.

Okay. So I was correct. The bank didn't screw up. Your assumptions were just wrong.

When your landlord attempted to deposit the cheque, the date on the cheque matters. The reason it takes days to clear is that the banks have to talk to each other making sure there are funds to actually transfer however, it will remove the amount from your account and add it to your landlord's on the day of the transaction (on paper). Since it isn't open on the first, they didn't try to remove the money on the first. They tried removing it on the second and failed.

The cash deposited at a machine is processed the next business day as it gets picked up on one day (at night) and then dealt with the next day unless you deposit it really early that day. As the bank was closed the first, the pickup for the cash was done on the night of the second, and finally dealt with on the third.

This would have happened any day where your landlord tries to deposit the cheque on the same day as the you try depositing the cash through a machine. The cheque amount will attempt to be taken the day of while the cash won't show till the next day.

The problem you have is that on occasion the cash will show up earlier if the pick up is right away. Sorry it happened to you but at least you know for next time. Happy new year!