A Bank In Minnesota Complaint - Out For Your Money - checking account

Review by tander on 2006-06-04
I can't mention the name of the bank I bank at, until I close my account and go somewhere else.
I have had nothing but trouble with this bank, minor mistakes I can handle. I had 2 accounts with this bank, and decided to close one of them. I bet you can guess what happened! The wrong account was closed and I had several hundred dollars in overdraft charges. I thought ok, they're going to fix this and reverse charges, mistakes happen. Last week I deposited a very large check, I know there's a holding time placed on it, for local checks, so I knew 3 days and I can pay for a new car, I went car shopping over Memorial Day weekend, and found a nice 2005 Dodge stratus, I wrote a check out for the car,and didn't give it another thought, I saw the check went through the bank. The next day the check was returned after going thru the bank, they made another mistake, calling it a 5 day hold. what really annoyed me was their condescending attitude that I was some how at fault and there calm, carefree manner, when it was clearly their own fault. I will know tomorrow what becomes of the returned check!
Comments:9 Replies - Latest reply on 2006-06-05
Posted by tander on 2006-06-04:
Oh the bank rep, told me it will be alright, they stamp it saying uncollected funds, and the other party will know that means the funds were there but noncollectable!
Posted by yoke on 2006-06-05:
I love the holds bank put on checks. My husband received the final check from his dad's estate on May 25. I put it in the bank on May 26. They put a 5 day hold on the check (which we expected and had not planned on using any of the funds at this point anyway). Because of the holiday weekend the check will not clear the hold until June 6. Funny thing is when talking to my brother-in-law the check cleared the estate account on May 30.
Posted by Doc J on 2006-06-05:
Customer service will improve when we demand it. Until we stop accepting "cheap" as a substitue for "quality" it will remain so. If a customer service database existed for consumers to refer to... That way, a consumer could write or call them and say, "I was considering doing business with you. However, you have a reputation for horrible customer service. Therefore, I will patronize someone else." People, we have the money. That is our clout. They will remain in business only so long as we permit it.
Posted by Anonymous on 2006-06-05:
The funds were UNCOLLECTED, not NONCOLLECTABLE... there's a big difference.
You say the bank made a mistake with the 5 day hold, because you knew it was three days. Did they tell you three days? Did you ask when your funds would be available? It is not uncommon for a bank to place an extended hold on an unusual check. But... if they do so, they are required by law to provide you with a written statement of the hold, and the reason for holding it, along with the date the funds would be available.

If, indeed, your check bounced after the normal three day hold period, then march yourself into tehbranch manager's office and explain that they will either refund your charges and explain their error to the car dealership, or you will be forced to report them to their regulatory agency for not complying with the funds availability laws.

As a rule, it is always a good idea to ask 'when will my funds be available?' when depositing an item like that.
Posted by Doc J on 2006-06-05:
Great advice Ken. Thanks!
Posted by Slimjim on 2006-06-05:
Pretty rare for a dealer to take a personal check for practically a brand new car. Why won't you mention the bank name? It's not like they know who you are or could do anything about it.
Posted by Doc J on 2006-06-05:
slim-The last two cars I bought (same day) were entirely paid for with personal checks. One was a year old, the other two years. They simply called the bank and asked if there were funds to cover the checks. They also knew how to find me...copies of DL, DMV application, etc. I, too, am curious about the bank name. But I trust the poster has a valid reason not to disclose it. It's absence does not detract from the value of the post.
Posted by tander on 2006-06-05:
I would rather not say the name of the bank until after I close the acount, I will not say the name because I still frequent there and I don't know if someone could read this. The last 2 cars I bought were paid for with personal checks, they can verify the funds. the check didn't bounce, it was uncollected funds, the car dealer called and verified funds were there and they will put the check back through. They told me 3 days when I cashed the check, and yes I asked.
Posted by Doc J on 2006-06-05:
Your reluctance to mention the bank's name is understood...and wise. It's not like they're too moral not to retaliate.

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