Have You Ever "Bounced" A Transfer?

RJM | Apr 11, 2018 | 499 posts since 2011

Was there a fee? I'm assuming the transfer will automatically bounce because its done by ACH.

Long story short, I forgot about a transfer yesterday which will likely cause my transfer today to "bounce" I guess by about $80.

I asked the bank by email just now to waive the fee, if any. But they seem less than consumer friendly so it seems likely they will refuse.

But, we will see. Maybe they will surprise me?

If not, they won't get another penny of my money. (And initially, I had intended to transfer in close to the FDIC max over the next few months. Before I realized how consumer unfriendly they are)

The mistake is mine. But the stress this bank has caused me caused me to make it.

Online banking was always 100% stress free for me. Until I opened an account at the bank who specializes in making banking difficult.

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Answers

RJM_Willy12 | Apr 11, 2018 | 149 posts since 2016

Yes, and neither party charged a fee. No need to contact them.

But, I understand you think anyone who does not chase every basis point is responsible for low interest rates.

Some of us have other priorities.

RJM | Apr 14, 2018 | 499 posts since 2011

crap answer. Crap answer-er.

Both would have charged me a fee if not for LMCU had I not contacted them like you said.

alan1 | Apr 14, 2018 | 877 posts since 2015

Please refrain from characterizing comments you disagree with as "crap" and, especially, please refrain from characterizations a person who posts a comment as a "crap answer-er".

This sie's comment policy can be found at https://www.depositaccounts.com/pages/comment-policy.html

Thank you.

RJM | Apr 14, 2018 | 499 posts since 2011

It was a terrible post with bad information. I stand by what I said.

RJM_Willy12 | Apr 14, 2018 | 149 posts since 2016

RJM -

My dense friend. I did not suggest you not contact them.

I was explaining, that, unlike you, I respect a quality bank, which includes customer service. Not simply chasing a few basis points.

RJM | Apr 16, 2018 | 499 posts since 2011

I am NOT your friend. Wish I could BLOCK you.

RJM | Apr 11, 2018 | 499 posts since 2011

LMCU to the rescue. Apparently I set up a $500 overdraft protection when I opened the account so that will cover the $72 short and they are waiving their $30 fee for it since I never asked for another fee waiver before.

So the larger transaction will go thru without any bounced deposits on either end, they said.

And I got AA to approve a $15,000 transfer out to replenish the RCA.

I had forgotten I even asked for overdraft protection and I did not know it would cover transfers.

LMCU was great, at first she offered to waive the fee on a CD that expires in June but in asking for manager approval, they realized the overdraft would cover the transaction. Normally, they charge $30 for that but they are waiving it. And the transfer should go thru without issue tonight.

Im pretty sure I would have incurred fees at both places if not for this overdraft that I forgot about.

Ally6770 | Apr 11, 2018 | 4,294 posts since 2010

I have had LMCU for many years. I opened it for their reward checking when my 6 or 6.5% checking account changed. I like Lake Michigan. They are always responsive and the people inside the credit union are all well trained in my city.

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