It was about December 15th. I walked into what I thought was a friendly SunTrust branch that I had been going to for the last year, after moving to Merritt Island and being a SunTrust customer for the last 5 years of my young life. On this particular day, a Friday, I went into the bank at about 11 in the morning and cashed (not deposited) a cashier's check for $3800. This cashier's check was made out to me, for room and board at my apartment, from someone who wanted to live with me.
I cashed this check, thinking nothing of it. The day before, I told the man who wanted to live in my apartment that I had decided I wanted to move out and that I would be giving his money back, and I would wire it back to him via Western Union. No big deal, right? My first mistake was wiring it back. I do realize this is my fault, but first, a cashier's check is almost as good as cash, as it is the number one preferred payment method with most banks and most companies, because the cashier's check is paid up front before the teller can draw the check. If I'm wrong, please someone correct me, but I have done my homework. Second, keep this in mind: most banks, including SunTrust, do what is called a pay-by-midnight deadline, meaning SunTrust will receive funds the following banking day, which means they receive the funds the next day. Since it was done before 12, they should have sent it out that day. Now, since some banks don't bank on Saturday, unlike SunTrust, I understand that they wouldn't receive funds for that check until Monday. If I'm wrong, please correct me.
So it was December 21st, and I walked into my SunTrust bank to make a withdrawal from my account of 475 dollars. They told me my funds were negative 2200 dollars. I asked why, and she said a check had been returned for 3800 dollars.
I talked to the branch manager, and after everything was said and done, and knowing it was fraudulent, not on my part but either the drawing bank or the customer, who is the drawer, not the recipient, which is me, I am still held liable. I did not know why my account information had to be present at the time of cashing, and I was told it is proper procedure. Now I understand that proper procedure is: if the check is fraudulent, we will use your funds to get our money back? So the teller did the right thing she was taught to do, but did nothing to protect me, especially over Christmas time, knowing fraud is out there. She protected her end and not mine?
So now I'm stuck with this negative 2200 dollar bank account, and the only thing I can get out of SunTrust is that I have 4 months, or else? Or else what? Well, at least I have everything I need right now credit-wise: I got a Bank of America account and a Space Coast credit union account and opened some credit cards, just in case they want to mess with my credit and I can't get anything because of SunTrust. When I talked to them after I found out what happened, they said they would work with me, but pretty much they haven't called me for information on the check to see if it was fake or not, nor given any updates, even though I have names and addresses and pick-up dates through Western Union. The only call I get is one saying you owe us 2200 dollars or else this transaction will affect your credit. Doesn't sound right?
I contacted the Federal Reserve Board, and they pretty much said it's not my fault, but who knows. Is there anyone out there who can help? Please write back.
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