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View Full Version : Why people hide their money in mattresses


PuckishOne
02-10-2009, 05:25 PM
As part of my divorce agreement I'm taking on a credit-card balance from Tiny Local Bank that currently is in both my & my ex-husband's name. The other day I called to see if I could transfer the money from my own credit line (also at Tiny Local Bank) to the joint credit card, and I was told no, you can only do a cash advance (which naturally, means they assess me a fee). So I stewed about that for a moment then told them to go ahead and do it.

The next morning I check my account online and see that nothing has been processed, so I call back. This time I'm told that, actually, the only way to do a cash advance is in writing, and I'll need to fax over the authorization. Cue more stewing, but I type up something acceptable, sign it and fax it over. Check the balance the next morning and see that all is well.

Today, however, I log in to find not one but TWO transactions on my line of credit...turns out they CAN do a balance transfer after all, and by the post & transaction dates I can tell that it was initiated the day I'd called the first time. So not only did they do what they said couldn't be done, they apparently never noticed that I'd already done it myself.

Naturally, I call to get things fixed...and the first CSR leaves me on hold for 21 minutes and then the call drops. (And that was after he checked back with me once to say that he was working with 2 supervisors, and to ask me which transaction I wanted reversed despite my having told him that twice.) I call back, get yet another CSR (who was much better than any of the previous ones) and after another 15 minutes or so, it appears everything is handled.

And this, as the title suggests, is why people put their money in their mattresses: Something that couldn't be done was done anyhow, no one was able to figure out how or when it happened (guess this bank doesn't track their internal account activity, eh?), and it took several days and at least 5 people to fix (hopefully) what should have been a fairly simple thing.

It should come as no surprise that I'll be closing my accounts there and switching banks. :rolleyes:

Evil Queen
02-11-2009, 03:04 PM
I was gonna ask why you didn't do that in the first place. But I don't know much about money. :shrug:

So, which bank will you be going with? Big Evil Bank or another Tiny Local Bank? :angel:

draftermatt
02-11-2009, 03:55 PM
I can relate. Large national hardware store recently told me that my credit card with them had been declined (we bought a water heater on no interest for a year, then returned 3 weeks later to do the same with a dishwasher)

We ended up paying cash for the washer, but I called their credit line wanting to know why a $300 purchase was rejected when I had over $600 left on the card.

They told me "they held my payment on the account until they knew the check cleared".

Oddly enough the bank has the check clearing 1/30 (we were in on 2/8).

So yeah, tad irritated about that.

Gerrinson
02-11-2009, 05:29 PM
They told me "they held my payment on the account until they knew the check cleared".

Oddly enough the bank has the check clearing 1/30 (we were in on 2/8).

So yeah, tad irritated about that.

Well, it cleared your bank on 1/30. But, you have to wait for it to clear their bank and then get processed through their automated system. Some banks really suck at that. Like one of our local banks.

I wrote a check to a friend of mine, a cash advance for his business, which he cashed the same day. His bank gave him cash for the check. He bought his inventory, sold his inventory, and paid me back. I deposited the cash he had given me. All that before the check cleared my bank.

It took almost three full weeks for that check to clear. He and I discussed the possibilities for scam in there. After all, if we can run 5K in a week like that, there's no reason we can't run 5K a day for a week, empty my account, and blow town with $50,000. Of course, we're far too honest and the risk doesn't cover the jail time and damage to my credit. But there are people foolish enough to pull crap like that.

ETA: Yeah, okay, I just realized your situation was reversed and it had already cleared your bank, which means it would have cleared their bank...so, while it's possible their bank sucks, it's more likely the credit company.

PuckishOne
02-11-2009, 09:45 PM
So, which bank will you be going with? Big Evil Bank or another Tiny Local Bank? :angel:
Another Tiny Local Bank...amazingly enough, I think I found one that will work for me; luckily I am a big fan of online banking and don't require an actual bank building most of the time. :)

And I did check my account this morning - finally, everything was where it should have been in the first place, so at least there's that off my mind.

edible_hat
02-12-2009, 08:27 AM
Credit unions are way better than banks. Not only did mine waive my car loan application fees because my parents have had their accounts for such a long time, also I pay no transaction fees (because I've now had my account for such a long time).

And yesterday I was served by the lady in their ad that says "Shareholder. Account holder. We can't tell the difference."

Nyoibo
02-12-2009, 12:42 PM
Do you pay no transaction fees unlimited, or do you have a fee allowance?

I have a fee allowance, now granted it's $18, which is hard to use up, but I've managed it before.

edible_hat
02-12-2009, 09:32 PM
Do you pay no transaction fees unlimited, or do you have a fee allowance?

A fee allowance, $18 but I never come close to it.

PuckishOne
02-25-2009, 09:32 PM
Truly, I never thought I'd be resurrecting this thread...but the morons hath struck again. (sigh)

This morning when I logged on to check my balance I saw a line for the CLOSED credit-card account, and a balance of $14. :confused: Called the ex, asked him if he'd seen it, mutual assurances that neither of us had made purchases, and then he gave Tiny Local Bank a call to see what was up.

Turns out that when I'd made the original payment, I'd somehow paid 20 cents (yes, you read that correctly) less than the balance owing. Interest had accrued on this over the past 15 days, coming to a total of $14. However, this didn't show up as a transaction, a finance charge, or, in fact anywhere: all that was there was an amout under "current balance." Odd, to say the least, although entirely keeping in line with my previous run-in with their interesting procedures and policies.

So he was able to get them to promise and swear on a stack of Bibles to fix it for real this time, then send him something in writing that confirms the zero balance and the closed account.

I am not, as you can imagine, holding my breath. I am, however, changing banks tomorrow rather than waiting to start my new job.

dalesys
02-25-2009, 09:55 PM
We're the Bank - Cheryl Wheeler

We're the Bank. We're not your friend.
...
We are the bank, with walls of stone, and heads of steel
And though in ads we're shown to smile and nod
This is PR if there ever was
So just forget that warm and friendly bit
Because I swear by god, it's a complete and utter
Crock of shit

edible_hat
02-25-2009, 10:58 PM
When I bought my car, something similar happened...

I bought it from my brother in law. So the cheque for my loan was mde out to him, and he used it to pay off what was left on his loan. Instead of just closing the loan account when the cheque cleared, they closed all his accounts. He's since switched to the same credit union as me. Which makes sense, since his wife (my sister) is also with them. And so is their mortgage.

blas
02-27-2009, 09:44 AM
I wrote a check to my friend two weeks ago when I bought my Avon goodies.

She said she cashed the check that same day.

It still has not been deducted from my checking account yet. Two weeks.

KiaKat
02-27-2009, 05:32 PM
Blas, see if the money has landed in your friend's account. One of the banks might have screwed up the account number.

I've had that happen a couple times, and since I'm an identity theft victim, it flipped me the hell out.