Skank of America customers read this

shamwow

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Oct 13, 2004
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got this email from someone who works for bank of america in risk management:

Hi guys! Just wanted to let you know that Check 21 has been implemented as of yesterday. Bank of America is one of the major banks that has implemented this process. (I know that there are others that have implemented as of yesterday and some that plan on it in the near future.) If you are a Bank of America customer, this will effect you. For those of you that are not aware of what Check 21 is, here is a run down. Before, when you wrote a check, you had a cushion of 2 or more days before the check cleared. For those of us who write checks and go to the bank the next day, or two, to deposit money into the checking account to cover the check, most likely that check will bounce. With Check 21, checks will be processed electronically and will clear the same day. BE CAREFUL!!! This process can lead some people into high fee's due to bounced checks. For those of you that do not balance your check books, now is a good time to start. Lord knows I am guilty of that! Also, if you don't have overdraft protection, now is a good time to have that set up. That way, you will avoid getting hit with fee's. It has saved me plenty of times. You can have overdraft protection set up to where the money is taken from your savings account or your credit card.

Hope this information helps you guys out. Many people don't know that this process has been implemented.
 

CletusJones

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Oct 15, 2004
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I.C.Water said:
wont a store have to be equiped to proccess a check electronically?
No, nothing will change from the "customer" standpoint. It's behind the scenes that will change.

For instance, since checks will be scanned and transmitted electronically from each federal reserve bank now, they'll reach the paying bank faster, and get run through the inclearing files faster, usually next day, if not same day.

I can get really in depth on this if you like, I'm part of our institution's check 21 team since I work in data processing. :D
 

Mrs. Valve

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Oct 6, 2004
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CletusJones said:
I can get really in depth on this if you like, I'm part of our institution's check 21 team since I work in data processing. :D
we had to go through training and take a stupid test on check 21, and it in no way affects my unit here:p
 

CletusJones

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F33nX said:
we had to go through training and take a stupid test on check 21, and it in no way affects my unit here:p
SURE IT DOES! Customers, mostly the older ones and the :tard: ones, will be calling you asking why their checks cleared so fast and they bounced. Check 21 isn't really publicized unless you work in the financial industry.
 

Mrs. Valve

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CletusJones said:
SURE IT DOES! Customers, mostly the older ones and the :tard: ones, will be calling you asking why their checks cleared so fast and they bounced. Check 21 isn't really publicized unless you work in the financial industry.
i don't talk with customers, unless i'm giving them their money. i speak mostly with brokers and account administrators.
 
M

Mondoz

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This is going to have serious impacts on my check kiting scheme. :(
 

CletusJones

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F33nX said:
i don't talk with customers, unless i'm giving them their money. i speak mostly with brokers and account administrators.
ahh... you're a teller then?

We didn't even train the tellers, we just gave them a memo and the specifics and called it a day. Our tellers are notoriously idiots and have a high turnover, so only branch supervisors got the training.
 
M

Mondoz

Guest
CletusJones said:
you have no idea, i had to shut my operation down.

I think I'll be able to keep it going, I just need to make several adjustments...

Damn feds just keep making it harder to make a dishonest living these days. :(
 

CletusJones

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Mondoz said:
I think I'll be able to keep it going, I just need to make several adjustments...

Damn feds just keep making it harder to make a dishonest living these days. :(
well, through an advanced network of swiss bank accounts and public proxies, i've managed to successfully switch my operation to EFT fraud.
 

Mrs. Valve

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CletusJones said:
ahh... you're a teller then?

We didn't even train the tellers, we just gave them a memo and the specifics and called it a day. Our tellers are notoriously idiots and have a high turnover, so only branch supervisors got the training.
i'm an asset custodian. i work basically one step outside of the vault at an operations center.
 

CletusJones

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F33nX said:
i'm an asset custodian. i work basically one step outside of the vault at an operations center.
interesting.

I'm a software developer and general IT person. They think I have all this free time so they pull me for all these stupid projects.