Parts Catalog Accessories Catalog How To Articles Tech Forums
Call Pelican Parts at 888-280-7799
Shopping Cart Cart | Project List | Order Status | Help



Go Back   PeachParts Mercedes-Benz Forum > General Discussions > Off-Topic Discussion

Reply
 
LinkBack Thread Tools Display Modes
  #1  
Old 03-16-2006, 06:07 PM
Aaron's Avatar
Moderator
 
Join Date: Aug 1999
Location: Cincinnati, Ohio
Posts: 1,937
Banks suck

Seemingly, the only reason banks exist is to get our blood boiling. I've gotta rant here, as my local bank has done a marvelous job of getting me steamed this week. Here goes;

So I bought another car; went to the bank, got an official cashier's check which the teller had to type out. Sent check FedEx overnight to the seller of the car. He calls me to say that they have to hold the check for 12 (yes, TWELVE) days for the funds to clear!!! He's pissed (but understands how shady banks are), I'm pissed, he spent almost an hour on the phone trying to find out why an OFFICIAL check takes 12 days to clear, to which NOBODY can give him a straight answer. WTF??????

Isn't the reason that we have to go to the trouble of going to the bank in person, having a teller or the bank manager type up the check, etc...etc...so we DON'T have to wait almost two weeks for funds to clear?!?!?!?!?!? You'd think that with a phone call, everything should be verified, isn't that what all of these computers are for??????

So for all of the trouble I had to go through just to be told we have to wait twleve days for funds to clear, I might as well have written him a personal check and kept the $5.00 that they raped me of for the charge of the "official check".

It wouldn't bother me one bit to see every bank in the world go belly up tomorrow. They deserve it.

__________________
Regards,
Aaron
Reply With Quote
  #2  
Old 03-16-2006, 06:11 PM
MikeTangas's Avatar
Senior Member
 
Join Date: Apr 2000
Location: So. Cal
Posts: 4,430
Aaron,

I think this is a result of the numerous counterfeit cashier's check scam plaguing us in this day and age. I just went through this with my oldest son, co-signed on his shool loan, bank paid out in a cashiers check. Besides all of the hoops they made the two of us jump through just to desposit it, then they hit us with a 10-14 day hold.

Oh yea, I was P.O.'d
__________________
Mike Tangas
'73 280SEL 4.5 (9/72)- RIP
Only 8,173 units built from 5/71 thru 11/72

'02 CLK320 Cabriolet - wifey's mid-life crisis

2012 VW Jetta Sportwagon TDI...at least its a diesel

Non illegitemae carborundum.
Reply With Quote
  #3  
Old 03-16-2006, 06:19 PM
Registered User
 
Join Date: Sep 2004
Location: Las Vegas, NV
Posts: 701
A personal check must clear the fed system within three business days according to the rules. No such rules for cashiers checks. They are, unfortunately untouched by modern rules of commerce. Best option for moving large amounts of money is wire transfer. More costly, but once it's done, it's done.
__________________
DS
2010 CL550 - Heaven help me but it's beautiful
87 300D a labor of love
11 GLK 350 So far, so good
08 E350 4matic, Love it.
99 E320 too rusted, sold
87 260E Donated to Newgate School
www.Newgateschool.org - check it out.
12 Ford Escape, sold, forgotten
87 300D, sold, what a mistake
06 Passat 2.0T, PITA, sold

Las Vegas NV
Reply With Quote
  #4  
Old 03-16-2006, 08:39 PM
mzsmbs's Avatar
just out there!
 
Join Date: Aug 2003
Location: just out there!
Posts: 2,192
i think i'd go and pitch a b at the originating bank.
__________________
72 W114/M130

RedMeat cartoon
Reply With Quote
  #5  
Old 03-16-2006, 09:08 PM
Banned
 
Join Date: May 2002
Location: Blue Point, NY
Posts: 25,396
Funny you mention bank checks. The risk with them is quite high.

I brought one down to Florida with me to pickup a Toyota Camry from a reputable e-bay seller. He advised that he would need to telephone the bank to ensure that the check was legit. I told him that would be fine.

I get down there and he finalizes the transaction. It's getting past 3:00 and I remind him to call the bank to verify that the funds were good.

He replied that he didn't need to do that. He had a sense that I was legitimate after our conversation and test drive.

The flip side, Aaron, ..........amazing.
Reply With Quote
  #6  
Old 03-16-2006, 09:16 PM
Registered User
 
Join Date: Sep 2004
Location: Las Vegas, NV
Posts: 701
Bank checks have a long history of forgery problems. If I was a regular online trader, I wouldn't accept them. They are difficult to verify, especially nowadays with giant chain banks, and not really knowing who to call or at which branch. I don't know why they aren't regulated by fed check clearing rules, other than maybe they aren't used all that much anymore, since wire transfer is preferred and more reliable.
__________________
DS
2010 CL550 - Heaven help me but it's beautiful
87 300D a labor of love
11 GLK 350 So far, so good
08 E350 4matic, Love it.
99 E320 too rusted, sold
87 260E Donated to Newgate School
www.Newgateschool.org - check it out.
12 Ford Escape, sold, forgotten
87 300D, sold, what a mistake
06 Passat 2.0T, PITA, sold

Las Vegas NV
Reply With Quote
  #7  
Old 03-16-2006, 09:50 PM
Aaron's Avatar
Moderator
 
Join Date: Aug 1999
Location: Cincinnati, Ohio
Posts: 1,937
Yes it's the '82 GTSi

New summer daily driver
__________________
Regards,
Aaron
Reply With Quote
  #8  
Old 03-16-2006, 10:12 PM
Registered User
 
Join Date: Apr 2005
Location: Rockville MD
Posts: 833
So is a certified check better/faster than a cashiers check? I always thought it was the other way around.
__________________
1985 380SE Blue/Blue - 230,000 miles
2012 Subaru Forester 5-speed
2005 Toyota Sienna
2004 Chrysler Sebring convertible
1999 Toyota Tacoma
Reply With Quote
  #9  
Old 03-16-2006, 10:39 PM
Registered User
 
Join Date: Jun 2005
Location: Chicagoland
Posts: 1,248
By chance, was the check over $10,000?
Reply With Quote
  #10  
Old 03-17-2006, 12:04 AM
PC Dave's Avatar
Low Maintenance
 
Join Date: Apr 2002
Location: Higher than You
Posts: 732
If you trust the guy enough to FedEx a cashier's check, just wire the money from your account to his. The total cost is higher ($20/$25 for each of you vs. $5 + FedEx cost for only you) but you can usually get value in a target account on the same day.
__________________
81 300SD
08 MDX Tech
93 525i

05 F650GS
Reply With Quote
  #11  
Old 03-17-2006, 08:05 AM
aklim's Avatar
Registered User
 
Join Date: Apr 2000
Location: Location: Greenfield WI, USA
Posts: 8,514
Not really. People suck. That is the problem. A while ago, I posted on a board about some parts for sale. Someone replied and accepted the consignment. Well, I got a sense they didn't know what they were talking about since those were performance parts. They didn't even haggle with me. Hmmmmm. The guy offered to buy the parts and pay for the shipping to Switzerland. OK. He also said he would get his partner to send me a check. It was larger than what he would owe so I was to cash it and Western Union him the difference. No problem. He overnighted the check from Nigeria via Fedex. I found the bank it was drawn on and faxed the check to them. My own bank also thought it was real but couldn't be absolutely sure. Well, the bank it was drawn on said it was a fake since they could check numbers and all that. So I emailed the guy and told him that the check was damaged in transit and my bank could not cash it. He promptly sent another one overnight via Fedex from Nigeria again. This time I told him that the bank it was drawn on said it was a fake. All this after wasting his 2 overnight Fedex charges.

If I had deposited them, the bank would have credited me the funds and when they were found to be fraudulant, I would be socked with the amount it was worth. It looked so good my own bank couldn't be sure it was a fake. I of course knew this was too good a deal to be true so I decided to waste the guy's money and time.
__________________
01 Ford Excursion Powerstroke
99 E300 Turbodiesel
91 Vette with 383 motor
05 Polaris Sportsman 800 EFI
06 Polaris Sportsman 500 EFI
03 SeaDoo GTX SC Red
03 SeaDoo GTX SC Yellow
04 Tailgator 21 ft Toy Hauler
11 Harley Davidson 883 SuperLow
Reply With Quote
  #12  
Old 03-17-2006, 09:17 AM
Banned
 
Join Date: May 2002
Location: Blue Point, NY
Posts: 25,396
Quote:
Originally Posted by aklim
I of course knew this was too good a deal to be true so I decided to waste the guy's money and time.
Ahh.......Mr. Lim......here is where you screwed up. You should have boxed up those performance parts in a decent box and told him that they were ready for shipment. Have him pick up that box and bring it all the way to Switzerland.

Then, after he has paid some significant freight charges, he opens the box to find a load of bricks.

Now you would have some serious satisfaction..............
Reply With Quote
  #13  
Old 03-17-2006, 10:35 AM
*
 
Join Date: Nov 2003
Location: Tiki Island Texas
Posts: 1,049
There is definitely something going on at the banks for the last few months. They are watching everything much closer all of a sudden and makes me think they've got their own little red alert flags up. Since 9/11 there are all kinds of anti money laundering screens in place and it's as if they've stopped the electronic clearing or something. In order to insure immediate credit on any check that is not made out to me in just the way my accounts read I now go into the teller instead of using the ATM. This seems all just in the last three months. I guess if there was the possibility of a attack to the electronic banking system in the works they'd not be able to say anything to avoid a run for cash, but it does make me wonder.
This is new, at least in my experience and as for a “Guaranteed Check” taking any time to clear just is bogus. Could all of the Ebay transactions be responsible?
The Fed wire seems unaffected so for anything like you're doing that's the way to go.
__________________
89 300E
79 240D
72 Westy
63 Bug sunroof
85 Jeep CJ7
86 Chevy 6.2l diesel PU

"The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane."
Marcus Aurelius
Reply With Quote
  #14  
Old 03-17-2006, 11:06 AM
Pete Geither's Avatar
Half Fast Moderator
 
Join Date: Feb 2002
Location: Western Pa.
Posts: 2,417
We received a check from an insurance company in Canada, drawn on a Canadian bank. Our bank locally tried to get some info from the Canadian bank and could not get a peep out of them concerning the authenticity of the check. We just have to wait till it clears, and that can take 2 months or more. Yippee.

__________________
95 SL500 Smoke Silver, Parchment 64K
07 E350 4matic Station Wagon White 34K
02 E320 4Matic Silver/grey 80K
05 F150 Silver 44K
Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On




All times are GMT -4. The time now is 07:16 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2024, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2024 Pelican Parts, LLC - Posts may be archived for display on the Peach Parts or Pelican Parts Website -    DMCA Registered Agent Contact Page