Article View: misc.consumers
Article #9071Re: How Does This Happen?
From: spamtrap1888
Date: Thu, 07 Aug 2008 16:08
Date: Thu, 07 Aug 2008 16:08
22 lines
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2678 bytes
On Aug 5, 8:00 am, Scott in SoCal <scottenazt...@yahoo.com> wrote: > I find that hard to believe the way you keep playing the victim card > on behalf of these incompetent money managers. There is a fine banking tradition of refusing to honor withdrawals after a sufficient lapse of time -- "stale-dated" checks. All my dividend checks have a date on them beyond which they will no longer be honored. After that, the payee must go groveling back to the maker to get a replacement check. If a giant corporation is not required to keep sufficient funds in its checking account for eternity, neither should Joe Consumer be. Banks should have treated these withdrawals as if they were stale- dated checks. The question is how long a delay is reasonable. Six months or even ninety days without presenting is sufficient to make a paper check stale. This span of time was set back when checks could spend days or even a couple of weeks going from bank to bank. As has been pointed out on this thread, the customer's expectation is that any withdrawal will be instantaneous. Therefore, any EFT not completed within, say, three working days should be voided, with the recipient having to ask the maker to repeat the transaction.
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X-Google-Thread: 107518,d777ae74711f9ca1 X-Google-Thread: 10e835,d777ae74711f9ca1 X-Google-Attributes: gid107518,gid10e835,domainid0,public,usenet X-Google-Language: ENGLISH,ASCII-7-bit Path: arc1-ca.pugleaf.net!g2news1.google.com!postnews.google.com!j1g2000prb.googlegroups.com!not-for-mail From: spamtrap1888@gmail.com Newsgroups: misc.consumers,chi.general Subject: Re: How Does This Happen? Date: Thu, 7 Aug 2008 09:08:53 -0700 (PDT) Organization: http://groups.google.com Lines: 22 Message-ID: <c1f774e3-94de-4c23-9924-32b208533d23@j1g2000prb.googlegroups.com> References: <ko35949b1nba66qgk3hjg024brcr26vdgu@4ax.com> <g74vjr$3hl$2@jik3.kamens.brookline.ma.us> <gcqc94lo4l0n39p5alvlukv3rem2cbs223@4ax.com> <g77c1l$qll$1@jik3.kamens.brookline.ma.us> <3kpg94tbalh9lmoe6avfa1i9jcc0mau8j4@4ax.com> NNTP-Posting-Host: 76.191.199.85 Mime-Version: 1.0 Content-Type: text/plain; charset=ISO-8859-1 Content-Transfer-Encoding: 7bit X-Trace: posting.google.com 1218125334 8153 127.0.0.1 (7 Aug 2008 16:08:54 GMT) X-Complaints-To: groups-abuse@google.com NNTP-Posting-Date: Thu, 7 Aug 2008 16:08:54 +0000 (UTC) Complaints-To: groups-abuse@google.com Injection-Info: j1g2000prb.googlegroups.com; posting-host=76.191.199.85; posting-account=IKrCMwoAAAAvbBFDI2BDgowVKvaBbkTn User-Agent: G2/1.0 X-HTTP-UserAgent: Mozilla/5.0 (Windows; U; Windows NT 5.1; en-US; rv:1.8.1.16) Gecko/20080702 Firefox/2.0.0.16,gzip(gfe),gzip(gfe)