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CheckSystem Problem. Need info.
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Posted by Esquire2B
(67.116.62.193) on January 18, 2004 at 03:28:57:
Have a friend who got into trouble with B of A!
Ruthless bastards! She did make a mistake and played the float by running checks between two accounts belonging to her and a major vendor of hers--but otherwise falsely known as "Kiting" to the banking crowd--with one major difference:
1- She had no intent to defraud the bank, write bad checks or anything alike. She covered for the delay in receiving her "Receivables". I know! Excuse! But...darn good one. Because, "Kiting" is about syphoning off cash that does not belong to you. She was only postponing and delaying a shortage in her account. Worst one can argue is that she used credit from the bank where none was extended. (OK! Not Good, but as bad as Kiting?)...anyway....they closed her account forever! They listed her on the CheckSystems the same day! (They told me they would not do that for ten days, but was not true). She tried opening an account for her business the next day at Wells Fargo. They turned her down!!! I have found some services that claim they can remove your name from CheckSystems and Telecheck, but are they for real? What do they know that I still do not know? Potential for abuse by banks is enormous! They can make life hell for ANYONE with a click or a call! What can be done? I appreciate any info. All I know write now is one can pay $35 for a list of banks that do not subscribe to CheckSystems. But, any way to fight these bastards?
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