My bank and the "mystery overdrafts"
I have 2 accounts at Trustco Bank. One is my everyday account and the other is used strictly to pay my company credit card (I rarely use this and keep the minimum balance in it so that I don't get charged for the monthly fee). I have never had a OD(intentionally) on either account.
Trustco Bank is not the most modern bank. When you make a deposit, they have to actually post it to your account to be available immediately, as they update the systems at midnight, given that the headquarters are in NY (they are in FL). There have been times that I have looked at my account late in the evening, and the balances have been WAY off (overdrawn, much less than it should be, double postings, etc). I freaked out the first time I saw it, called the bank the next morning and was told it was just a system update and nothing to worry about.
I checked it last night, and again a few minutes ago. The little used account was OD by $600 as of last night. It says its OD by $ 1200 ($600 for a priority check and then an OD memo of $600). I'm assuming that its just a system update and there is no link to the memo...I haven't used this account since the end of August when I transferred the balance of the last expense check to my active account so I could buy a money order. I'm really hoping that is just a system update, and will be fine in the morning.
Has anyone had this happen to them? Any suggestions on what to do?
Know what you mean..
Same happened with us, Turned out it was an old PDL that we forgot about. they searched and found our info, now they are debiting our new account. Problem is, we never know when they are going to do it. Trying to find someway to stop it...will let you know..
I just looked and it says "Priority Check". The one time I went
I just looked and it says "Priority Check". The one time I went to the bank to get cash and didn't have my check book they did a counter check, and it was listed as "priority check".
The thing I wonder is how the bank could cash a check when there was no money in the account? The branch opens at 8 so I will be calling, and will be calling the corporate office at 9 when they open.
Let us know how it turns out
Submitted by Mary Adkins Matthews on Fri, 09/26/2008 - 04:12
I went to the bank and talked to the manager. She was just as c
I went to the bank and talked to the manager. She was just as confused as I was and said that she would call the research department and get back to me. I said, NO, I will wait for you to call.
She did, and they found the actual check. It was a counter check (when you go into the bank, and don't have your check book or ATM card they will give you a check that you can write to yourself to get cash). The teller who processed it transposed the account numbers. The bank initiated a credit for the OD and the OD fee, and it updated on Friday. I asked that the bank close the account, and transfer the money to my other account.
I promptly went to a new bank at lunch and am in the process of opening a new account.