Ok here's what went down. I was paid by check for some computer work I did. Came out to $2800. My fiance' took the check to the local branch of Commerce Bank by her work and deposited the check. Now I look at this the same way I feel many other people do. No one has any idea if a check they deposit is good or bad until the bank does their job and processes the check. The amount of the check was posted to the account 2 days later so we naturally assumed that the check had cleared and we proceeded to pay our rent and other bills.
Well it turns out three days after they posted the check as good in our account is when they actually processed the check to find out that it was in fact no good. So ofcourse they proceeded to take every last dime out of our account to cover what we had already spent and that put us in the negative. Over $1000. So when we contacted the bank we were told that the amount of the check was posted to the account as a convience to us because so many other people had complained that they were not getting access to money from checks they deposited right away.
That's all well and good for a $50 or $100 check, but this was for $2800 and it clearly says on their website that one of their standard bank policies is to hold checks of a large sum greater than an average normal deposit for up to 7 days for processing. That to me makes sense, it's a large sum of money and it would be nice to know that they are taking steps to insure that the check is actually good.
But they didn't, they completely disregarded one of their own banking policies and posted the check before processing it. And admittedly by them the amount of the check was clearly a larger than normal deposit for us. So we speak to the Fraud department only to be told there was nothing to be done because they had to look at it as if we were trying to scam them. How am I trying to scam them? I didn't write the check, I only deposited it. It's up to them to do their job and process it according to their own banking policies.
Now we are left with over $1000 negative in that account that they were nice enough to setup a payment plan so we could pay it off, we now have to come up with rent and bill money in excess of what we should have to and all because they themselves did not follow their own rules. I've heard of banks ripping their customers off for a long time but I think even this goes above and beyond the normal rip offs from a bank.
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