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Absurd Transaction

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JamesKim
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Cash: $ 46.35

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.x

Last edited by JamesKim on Mon Jul 07, 2008 12:48 am; edited 1 time in total
Post Fri May 09, 2008 3:25 pm
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coaster
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Cash: $ 1626.30

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Location: Wisconsin
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The FDIC insures depositors, not the bank. And that applies to money on deposit in an account, not fraudulent checks. Banks can make their own procedures for clearing checks. They don't have to verify the check. They're not responsible for damages. Like I said in a previous post, banking laws are written for the banks' benefit, not bank customers. $3000-some is small potatoes to law enforcement. They don't have the resources to investigate and prosecute every crime. So they have to focus on the worst. I don't like it either, but that's the way it is, and unless we want to pay sky-high taxes and live in a police state, these things happen.

~Tim~
Post Fri May 09, 2008 4:49 pm
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pf101
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Location: Portland, OR
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It can take 30+ days for a check to be returned. That's why you only take cash. Checks can be fake. Money orders can be fake. Cash is usually real.

As CL says: Deal local, Deal in cash.

Personal Finance 101
Post Fri May 09, 2008 11:36 pm
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JamesKim
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Cash: $ 46.35

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Joined: 26 Sep 2007

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.x

Last edited by JamesKim on Mon Jul 07, 2008 12:49 am; edited 1 time in total
Post Sun May 11, 2008 2:15 am
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coaster
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Cash: $ 1626.30

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Location: Wisconsin
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I think you have an excellent attitude -- and wisdom and insight beyond your years. I wish I had been that enlightened when I was young. I'm sure you'll be very successful in your life and your career.

~Tim~
Post Sun May 11, 2008 3:29 am
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pf101
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Cash: $ 62.25

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Location: Portland, OR
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It's better to learn this kind of lesson early in life with a relatively small amount of money instead of later when there could have been a few more 00s on the end. You have a good plan of just accepting, moving forward and dealing with it.

Good luck

Personal Finance 101
Post Sun May 11, 2008 3:25 pm
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JamesKim
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Cash: $ 46.35

Posts: 216
Joined: 26 Sep 2007

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.x

Last edited by JamesKim on Mon Jul 07, 2008 12:49 am; edited 1 time in total
Post Mon May 12, 2008 1:58 am
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coaster
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Cash: $ 1626.30

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Joined: 11 Oct 2005
Location: Wisconsin
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You're welcome!! Stick around and be a regular. Smile

~Tim~
Post Mon May 12, 2008 4:07 am
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JamesKim
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Cash: $ 46.35

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Joined: 26 Sep 2007

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.x

Last edited by JamesKim on Mon Jul 07, 2008 12:49 am; edited 1 time in total
Post Wed Jun 04, 2008 4:20 am
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coaster
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Cash: $ 1626.30

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Location: Wisconsin
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Thanks for the update, Jim. Learning from mistakes is the mark of a winner. Very Happy

~Tim~
Post Wed Jun 04, 2008 1:10 pm
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