Why I Prefer to Pay Cash

[Friday]

I give debit access to my checking account to as few entities as possible, and rarely use my ATM card for purchases.  But I did sign up to have my rent payments auto-deducted from my bank account, primarily because the late fees are so insane (i.e. one day late = $50!!!). 

Yesterday when I got home from work, there was a hand-written envelope labeled with my apartment number that had been shoved under the door.  But the phone rang just as I walked in, and my arms were full of groceries, and I was tired and frazzled, and I forgot about the envelope and left it lying on the floor.

So today when I got home from work, I saw the envelope again, and figured I'd better open it.  They're doing construction on my building, so I figured it was probably going to tell me not to park in front of the building on certain days.  Um, no.  It told me "Oops, sorry, some other entity that we contract with to take money out of your bank account took your rent out twice this month.  Our bad!  We'll make them give it back.  We promise! "

I'm curious if this kind of "mistake" has happened to anyone else?

[doobie]

I got paid three times in one day....which was nice until they took it the two extra times the next day.

Never had anything negative except on credit cards.  I like credit cards for the cash back....but anything for the 'local guy' or I don't want tracked I use cash or silver. 

[JJ]

Charge them a fee or interest.   

[error]

Someone I used to work with mistakenly had a $4 million deposit made to his bank account.

Interestingly, it was there for nine whole days before the bank figured out its mistake.

[grasshopper]

AOL is notoruious for double charging people, they got me for 3 months in a row, with overdraught charges and everything.   I noticed it when I went to the bank and I had a whowl 62 dollars in my account.

[Friday]

AOL is notoruious for double charging people, they got me for 3 months in a row, with overdraught charges and everything.   I noticed it when I went to the bank and I had a whowl 62 dollars in my account.

I find it really hard to believe that that sort of thing is an honest mistake.  Considering how many businesses I've worked for run on fumes, cashily speaking, I'll bet AOL does it on purpose to maximize their own financial self-interest, at the expense of their customers.

[doobie]

Someone I used to work with mistakenly had a $4 million deposit made to his bank account.

Interestingly, it was there for nine whole days before the bank figured out its mistake.

Did he get to keep the interest?

[doobie]

AOL is notoruious for double charging people, they got me for 3 months in a row, with overdraught charges and everything.   I noticed it when I went to the bank and I had a whowl 62 dollars in my account.

I find it really hard to believe that that sort of thing is an honest mistake.  Considering how many businesses I've worked for run on fumes, cashily speaking, I'll bet AOL does it on purpose to maximize their own financial self-interest, at the expense of their customers.

They do.  You have a million customers... you double bill 1/40 of them that's 25,000...99% realize it... you just profited on 250 of them...  well AOL has probably more like 10m [maybe back in the 'good ol days') customers...so 2500 of them...  imagine if you earned and extra 25*2500 a month... 

[Raineyrocks]

Someone I used to work with mistakenly had a $4 million deposit made to his bank account.

Interestingly, it was there for nine whole days before the bank figured out its mistake.

Wow, I dream of that happening to me but of course in my dream "they" never find the mistake!

[David]

At a drive up bank, a teller once gave me about 200 bucks in cash that was not mine through the vacumn tubes.  He didn't realize it till I said something about it.  I figure I may have saved his job.   

[toowm]

I had an autopay credit card payment taken twice by mistake. They paid for the overdraft charges and put an entry on my credit report that it was their fault.

[Raineyrocks]

At a drive up bank, a teller once gave me about 200 bucks in cash that was not mine through the vacumn tubes.  He didn't realize it till I said something about it.  I figure I may have saved his job.   

That was nice of you, I have done the same thing at the bank when things like that happen.  A girlfriend of mine worked at a bank years ago and they investigate you and treat you like a criminal if your drawer comes up short.  She lost her job over something like a $50 mistake at the bank she used to work at. 

[hydrodog]

if you don't have use of your money for the amount of time the land lord took double rent ..... and the land lord has an unreasonable fee of 50 dollars for a one day late fee.....
I'd bring this to his attention and ask if you don't get a fifty dollar fee for the unauthorized use of your money.....
maybe you can get his late fee policy changed so there is a grace period..... just incase there are other unintentional screw ups on either side....worth bringing up..... good luck

[JonM]

rather than let them pull your bank should have the ability to push.  They will get the check to them on the day due (or better yet the day before) then these things can't happen.

[Friday]

Last year after Liberty Forum, I took all the cash receipts to my bank to deposit into my account (then mailed a check to the FSP to be deposited into its account).  It was definitely over $1000, maybe over $2K, I can't remember.  Anyway, as I was walking away from the counter afterwards, I glanced at the receipt the teller had given me and realized there was someone else's name printed on it!!!!  I brought this to the attention of the bank teller and he acted very nonchalant about it and reprocessed my transaction.  He had credited my cash to someone else's account and almost lost/stole a ton of money from me right in front of my face.  Maybe I should have got that guy fired.