Bank of America /Cash Transfer Centers- Ugh!

well just when I thought I was on the right track with all of this. I found out that after closing the account and being assured from the associate that it was definitely closed and nothing would be paid. They paid Cash Transfer Centers. I am now overdrawn 1000 with them. I have no idea what i am supposed to do now.

Anyone been through this?

I know some banks have a policy that if something comes through your account within 30 days of closing it, the account will reopen. So if that is the case with your bank then the person should have told you that. I would go back to the individual who closed your account and told you that everything was fine and ask her why it happened. Did you send a letter to Cash Transfer Centers revoking the ACH debit?

Yes i had already sent that to them. I sent letters last week revoking the ACH debits from posting. I guess now i have to set up a payment plan with bank of america. I just wonder if they will report me to chexsystems before i can get them paid off

I agree with Pink, you need to go back to the associate that made those claims to you and ask her what happened. DOn't just roll over and pay it without getting some answers.

Yes, odds are that you will be reported to Chexsystems and EWS. For an amount like $1000 reporting is a pretty sure thing.

If you sent letters revoking ACH authorization then your bank needs to reverse that transaction. I would show a copy of that letter to the bank associate and if they don't want to help, then I would file a complaint with everbody possible...FTC, Attorney General, etc. Perhaps you need to talk to the branch manager and not the associate.

The OCC (Office of the Comptroller of Currency) is the regulating authority for national banks.

Here is a link to the Comptroller of the Currency to file a formal complaint

http://www.occ.treas.gov/mail1.htm#Mail

Well i am going to go back to the bank this afternoon. Well when all of this started I went and opened a new account with WAMU and now i am reading that they close new accounts after checking chexsystems periodically. Well now i have to figure out what to do about direct deposit. My company requires it and if WAMU closes my account i dont know what will happen with my money. I am feeling so sick right now. I dont know what my chances are at getting bank of america to reverse the charges.

Since your job requires direct deposit you could go to walmart or Walgreens and get a Reloadable Green Dot card and have your direct deposit put on that to hold you over until you get things straitened out. Make sure you get the one that is reloadable though.Here is the link to read about them. I had a friend who had to get one after his bone head ex-wife skipped out and had over drawn his account.

https://www.greendotonline.com/Contents/Products.aspx

Hope this helps

There are also banks out there that don't use Chexsystems, if you want a real bank account.

Check out the banking forum, MCA can help you find a safe bank if you want one.

well - I found out that these items will be returned back to the pdl's. i actually called and talked to someone in risk operations. They said that they will even reverse any overdraft fees if they post to the account. She was extremely helpful. She told me that i could continue to bank with BOA with a new account and the PDL's would not be able to access unless i give them the new information. I am so relieved - Thank you for all your help on this matter.

Just watch it very closely . . . . Sometimes the CSR reps don't really know what is going on, and will tell you one thing but another will happen.

Great news on the bank account situation, like goudah said..watch it very closely. Now you just have to figure out how to deal with Cash Transfer Centers. I presonally haven't dealt with them, but from reading others situations they can be very nasty. Hope everything works out for ya.

Yes i am not looking forward to dealing with them. I faxed them an offer for payment arrangements today to 3 different fax numbers if have for them. I am offering to break the payments into 3 payments. I see that they turn this down a lot, but i thought it was worth a try. i am not going to deposit more than 25 in my new BOA account until i see that the other is taken care of. I am just cashing my check today and keeping cash. CMG said that they would not discuss my case with me anymore after I asked for their license number to do business in the state of texas. I dont know what they will try now. The loan shop has not responded to me since I asked for their license number. I have not even started communication from Magnum yet. I am just thankful that i am back in control of my finances.

It feels good to have that control again doesn't it? It's amazing how small, useless, and helpless we feel when that is taken away!!! I would work my full 2 weeks and STILL have a negative account to show for it after my check was deposited!! Things at home were being neglected and I just had to say ENOUGH!!!! I wish you all the best of luck! With all the wonderful people here helping, we CAN do this!!!