Please read this because you can be the next victim of Chase Bank faulty processes.

  • Hi Guest, welcome to the help forum. You can get fast answers to your customer service questions here. We have a dedicated team of advocates who are ready to help. Just go to the section that matches your question and ask us!
  • If you've posted a question or issue for our advocates to assist with, please be sure to check back frequently for responses and requests for clarification.
  • Did you know you can get email notifications when something new posts to your favorite forum? It's easy. Just click the "watch" link right next to the "post new thread" button at the top of your favorite forum. The rest is easy. Now you'll never miss another conversation.
  • Want to become an expert user? Drop by the How to use this forum section and all will be revealed. We'll show you how to make the most of your experience.

weihlac

Verified Member
Jun 30, 2017
2,923
3,804
113
Maui Hawaii
Hello,
Would you agree Neil that the Fed rules need to be reviewed and changed if needed? Currently, some of the rules are working against hard-working people, and crooks sitting in their pajamas (as one of the discussion participants stated) know exectly how the banking system works, and they use the channel to take advantage of many of us, and Chase bank doesn't even want to acknowledge that there is a problem! In general, when we seek professional advice we trust the professionals that they have our best interest in mind. In this situation, I had listened to the advice of the banking professionals, and now, I am the one being blamed for being irresponsible.
Thank you,
"Banking professionals " do NOT have your best interests in mind. They have the interest of the bank and the bank's shareholders in mind. They are in business to make money first and foremost. You are a source of profit for the bank. That is the way capitalism unchecked works. And no, the Fed is not likely to change the rules.
 

Neil Maley

Moderator
Staff Member
Advocate
Dec 27, 2014
23,420
23,386
113
New York
www.promalvacations.com
Hello,
Would you agree Neil that the Fed rules need to be reviewed and changed if needed? Currently, some of the rules are working against hard-working people, and crooks sitting in their pajamas (as one of the discussion participants stated) know exectly how the banking system works, and they use the channel to take advantage of many of us, and Chase bank doesn't even want to acknowledge that there is a problem! In general, when we seek professional advice we trust the professionals that they have our best interest in mind. In this situation, I had listened to the advice of the banking professionals, and now, I am the one being blamed for being irresponsible.
Thank you,
You should write to your representatives in Washington if you feel that changes should be made. However I can’t see the Fed. going backwards and adding longer time frames before allowing funds on deposited checks - consumers fought to have availability to these funds faster.

But you were scammed selling on Craigslist and there are hundreds of articles on the internet on how these scams work. I’m sorry you hadn’t seen these and got caught in this scam, but I hope this educates other consumers who read this about selling on Craigslist.
 

mmb

Verified Member
Jan 20, 2015
1,287
1,453
113
NAPLES FL or Denver CO
Every time a rule is changed or a new law is written and enforced the scammers get busy and figure out new ways to take your money.
The bottom line is that each if us has to be smart and vigilant, keep up with current events, research all avenues of downfall and beware of all offers.
It is a hard world and it is not going to get easier.
 

mmb

Verified Member
Jan 20, 2015
1,287
1,453
113
NAPLES FL or Denver CO
... With faulty Chase deposit operations, I was robbed of $1,750.00 by a scammer who is familiar with the bank’s deposit processes....
@Majkaskovron / Maria - with your continued insistence that Chase Bank is responsible for your loss, I decided to reread your very first post in this thread.
I believe the quoted sentence above is the key to this whole problem.
If the scammer could be ‘familiar with the bank’s deposit processes’ then certainly you could also be aware.
Therein lies the problem. You were not aware and you suffered a loss.
Often, when people ask questions, the choice of words, syntax or even our tone can create misunderstanding.
When you repeat conversations between you and someone else, it relies solely on your memory and what you thought that person said and/or meant.
There is little to no chance of Federal banking laws being changed in response to your experience.
 
Feb 28, 2019
41
69
18
43
Thank you RafaB for joining this forum. I understand that banks make funds available right away. My question is, what would happen if I had $0.00 in my account? Would Chase hold longer suspected checks, or would they allow me to withdraw against their resources? Thank you.
I can't speak for Chase, but generally speaking if you had $0.00 in your account when the check was deposited, nothing would have changed, you still would have received access to the funds as their policy dictates UNLESS they put an extended hold on it, which they are require to notify you of at the time of deposit. Checks suspected of fraud is one reason to place an extended hold but it is at the discretion of the bank and doesn't always work.

I had this exact thing happen once, my teller called me over and I told the lady why we felt it was a bad check (which matched her story of how she got the check). She ended up depositing it somewhere else and losing a few grand. There is only so much that can be done to people who are determined to ignore obvious dangers.

As for the Feds rules regarding checks, it is designed to provide funds to the customers as soon as possible. This is because banks used to hold check 7+ days. Unfortunately for you, this worked against you and the scammer took advantage of you like they do many others. I get that you want to blame Chase, but the second you decided to deposit the check you were 100% responsible for it. Yes, they could have thought to look into it more but then you could've too especially since you were already suspicious.
 
Nov 30, 2018
50
62
18
62
I can't speak for Chase, but generally speaking if you had $0.00 in your account when the check was deposited, nothing would have changed, you still would have received access to the funds as their policy dictates UNLESS they put an extended hold on it, which they are require to notify you of at the time of deposit. Checks suspected of fraud is one reason to place an extended hold but it is at the discretion of the bank and doesn't always work.

I had this exact thing happen once, my teller called me over and I told the lady why we felt it was a bad check (which matched her story of how she got the check). She ended up depositing it somewhere else and losing a few grand. There is only so much that can be done to people who are determined to ignore obvious dangers.

As for the Feds rules regarding checks, it is designed to provide funds to the customers as soon as possible. This is because banks used to hold check 7+ days. Unfortunately for you, this worked against you and the scammer took advantage of you like they do many others. I get that you want to blame Chase, but the second you decided to deposit the check you were 100% responsible for it. Yes, they could have thought to look into it more but then you could've too especially since you were already suspicious.


Anyone who reads this, please search the internet for fake check scams!
If you have a zero balance and deposit a fake check for $1500...
You wait until the funds are available by law (this is NOT the same as the check clearing) and withdraw the $1500.
No transactions for some time, maybe weeks for a fake cashiers check, so you think you are clear.
The check is returned and you are overdrawn for $1500!
Next day your paycheck is direct deposited. They will take $1500 to make up for the returned check.
Even if you have no more transactions and walk away from that bank, they can report you to Chexsystem, which is kind of a blacklist. This can prevent you from opening an account at another bank.
Sorry if this is obvious to everyone but it can be devastating to someone who is unaware.
If this helps one person, it's worth the boredom of all other readers.
 
Dec 12, 2016
27
11
3
69
I'm sorry but I do NOT see why it is CHASE BANK's fault that someone accepts a fraudulent check and then expects the Bank to deposit and credit the customer for a check that is fraudulent. Not that I never had problems with CHASE(it is my banking institution for over 20 years), but still let's be realistic here. And it might also be CHASE's fault also that the OP wired $550 back to the scammers? Please!
 
Jun 1, 2019
14
2
3
34
I'm sorry but I do NOT see why it is CHASE BANK's fault that someone accepts a fraudulent check and then expects the Bank to deposit and credit the customer for a check that is fraudulent. Not that I never had problems with CHASE(it is my banking institution for over 20 years), but still let's be realistic here. And it might also be CHASE's fault also that the OP wired $550 back to the scammers? Please!
Hello Maria,
No, I wired back $1,750 the whole amount of the check that the scammer requested because he/she knew exactly how to play this game, and how the banking system works. Yes, do blame Chase!!! because they are the "experts" and they should have procedures in place if there is any suspicion of fraudulent activity.
 

JVillegirl541

Verified Member
Nov 21, 2014
3,925
4,034
113
Unbelievable and the scam gets worse. I’m sorry,
only you are responsible for this easy to point fingers but ya this is on you :(
I understand you want to blame someone else but you can’t.... it’s not reasonable.
 
Aug 28, 2015
2
6
3
47
The way I read this, when OP talked to the bank she was asking if Chase had the money from the other bank. She intended to wait to make sure Chase had the money before sending the wire.
For those of us not as familiar with the banking industry, what wording should we use to make sure the funds from the check have been received by our bank before withdrawing the money.
 

Neil Maley

Moderator
Staff Member
Advocate
Dec 27, 2014
23,420
23,386
113
New York
www.promalvacations.com
What would you be a accepting a check for that you are concerned about it clearing?There is really no wording. I would suggest that you not use any money you might be concerned about clearing for at least a week. That’s the only real way to ensure a check doesn’t bounce back.

There were red flags on this transaction right from the start. I have never heard of someone asking the seller to wire money to a shipping company to pick up furniture they bought. That alone should have set off alarms - the buyer should have arranged to have the item picked up themselves- no one does this when buying furniture second hand- buyer is responsible for paying a shipping company.

And the second red flag was the “buyer” asking her to wire the excess money to him or her. Dead give away.

Do a google search for Craig’s list scams. There are many articles about this.

Don’t take large checks from strangers. If you are selling something, cash only.
 

JVillegirl541

Verified Member
Nov 21, 2014
3,925
4,034
113
The way I read this, when OP talked to the bank she was asking if Chase had the money from the other bank. She intended to wait to make sure Chase had the money before sending the wire.
For those of us not as familiar with the banking industry, what wording should we use to make sure the funds from the check have been received by our bank before withdrawing the money.
Wait TWO weeeks not TWO days.....
 
  • Like
Reactions: Neil Maley

jsn55

Verified Member
Dec 26, 2014
9,904
10,712
113
San Francisco
I'm getting quite a banking education here. Obviously, things have changed drastically. Seems that there's no way to tell if a check is "good" or not. While I'd never write a check on uncleared funds before a week or so, it appears that there might be a much longer period to wait. How do we get a definitive answer to this question? This whole discussion makes no sense to me; I must be missing something.
 

Neil Maley

Moderator
Staff Member
Advocate
Dec 27, 2014
23,420
23,386
113
New York
www.promalvacations.com
I'm getting quite a banking education here. Obviously, things have changed drastically. Seems that there's no way to tell if a check is "good" or not. While I'd never write a check on uncleared funds before a week or so, it appears that there might be a much longer period to wait. How do we get a definitive answer to this question? This whole discussion makes no sense to me; I must be missing something.
The majority of us will never be put in a situation where we would have to worry about something like this. Most people deposit simple check transactions - paycheck, birthday gift, etc.

You might once in a blue moon have a transaction that is out of the ordinary- selling a car or a house. For large transactions you can ask to have money wired to your account.

Anything else would be a transaction you need to be wary of. Why would you accept a large check from
someone you don’t know? There was no reason for the OP to rush to wire that money. If you ever are put in a situation where you are accepting a check from a stranger, hopefully you would have enough knowledge after reading this post that you wouldn’t wire money or turn over merchandise for several days after depositing a check. If the person who has given you the check protests- you can pretty much assume that they are trying to pull something over on you.

This particular transaction had scam written all over it. Hopefully you will never encounter a similar circumstance and will never have to worry about something like this.
 

mmb

Verified Member
Jan 20, 2015
1,287
1,453
113
NAPLES FL or Denver CO
@Majkaskovron said,
“teller who was serving me indicated that the check did not look legitimate to her”
That is actually the second Red Flag. The first one was the buyer sending a cashiers check for more than the purchase amount of the item. This is a very OLD scam. They sometimes ask that when the mover shows, to pay them in cash out of the funds sent.
In this case, they decided to try cancelling the purchase and asked for the whole amount to be WIRED back to them.
And it WORKED.
I have heard that it has sometimes taken up to 30 days to discover the illegitimacy of a cashiers check.
I put it in the title of my listings. It also stops all the nonsense of offers of *more* money than I am actually asking.
Never accept any check from a sale on Craig’s List. Cash and Carry only.
PS - there is a big difference between funds being available and the check has ‘cleared.’ You will never hear that a check has cleared unless you ask specifically and then I’m not even sure their actual language would be definitive.
 
  • Like
Reactions: Neil Maley
Jun 1, 2019
14
2
3
34
@Majkaskovron said,
“teller who was serving me indicated that the check did not look legitimate to her”
That is actually the second Red Flag. The first one was the buyer sending a cashiers check for more than the purchase amount of the item. This is a very OLD scam. They sometimes ask that when the mover shows, to pay them in cash out of the funds sent.
In this case, they decided to try cancelling the purchase and asked for the whole amount to be WIRED back to them.
And it WORKED.
I have heard that it has sometimes taken up to 30 days to discover the illegitimacy of a cashiers check.
I put it in the title of my listings. It also stops all the nonsense of offers of *more* money than I am actually asking.
Never accept any check from a sale on Craig’s List. Cash and Carry only.
PS - there is a big difference between funds being available and the check has ‘cleared.’ You will never hear that a check has cleared unless you ask specifically and then I’m not even sure their actual language would be definitive.
Thank you all for your participation in this discussion, and the ideas where I can file my complaint.
There is nothing at this point I want to add, except that the scam is still going on, and there will be many more people who will become a victim of it because organizations like Chase don't give a flying F about their "valued customers"