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  1. #61
    Join Date
    Mar 2012
    Posts
    1,336

    Default Re: Money Order Situation

    Quote Quoting shine9004
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    The money order was returned for being altered/fictitious.
    In all probability it was really counterfeit. However, because of the uniform commercial code and case law explained here http://www.mondaq.com/unitedstates/x...terfeit+Checks a bank can send a check back through the Fed "altered" and hopefully get a recovery.

    However, had you not had any money in your account, Chase would have been screaming, "counterfeit," trying to avoid the loss.

    Quote Quoting shine9004
    View Post
    what bank account did you have and what led to it closing?
    Banks close accounts for high risk customers. Customers that are easily duped into depositing fake checks are high risk.

  2. #62

    Default Re: Money Order Situation

    Well the bank did return the money order since it wasn't good and were able to get their money back so I'm assuming that's all they care about. Once a case opens up or an investigation happens is when the bank starts to be concerned.

  3. #63
    Join Date
    Mar 2012
    Posts
    1,336

    Default Re: Money Order Situation

    Quote Quoting shine9004
    View Post
    Once a case opens up or an investigation happens is when the bank starts to be concerned.
    Not necessarily. A bank gets concerned whenever there is a chance they're going to or might take a loss. I had my account closed for no other reason than I used my debit card at the Chicago Airport and Disney World within the span of 12 hours. I thought I was doing the right thing putting small purchases on a debit card because the fees are lower for the merchant, but now, I put everything on a credit card. Losing my checking account was really inconvenient. Having my credit card closed isn't as big a deal because I don't have to deal with switching a direct deposit, and it took two weeks for them to issue a check for my balance, and the bank I deposited the balance to put a hold on it for 11 days. It was tight. Losing a bank account is no fun.

  4. #64
    Join Date
    Jun 2006
    Location
    Massachusetts
    Posts
    24,046

    Default Re: Money Order Situation

    Quote Quoting shine9004
    View Post
    Well the bank did return the money order since it wasn't good and were able to get their money back so I'm assuming that's all they care about. Once a case opens up or an investigation happens is when the bank starts to be concerned.
    Harry, please remember that I had an expert review your thread. Yes, she said it was possible the bank would close the account, although she thought it was unlikely. If they were going to do so, they would have done it by now. She also was clear that the bank would not take any further action, such as notifying law enforcement, and she was very, very clear that you would not be in any legal trouble whatsoever. Ask chyvan how many banks she is vice president of.

  5. #65

    Default Re: Money Order Situation

    Well it's been a day and nothing has happened.

    chyvan, you did say that the bank closed your account within 12 hours of an out of state purchase. Well it's been almost 24 hours since the bank debited my account and I can still use it. ( I know our situations are different but if the bank sees me as a risk, they would have closed my account right away to be honest).

    The police couldn't do much so I guess this is where this whole situation ends. The $990 is gone and I'm just gonna have to move on.

    Thanks for all the tips, advice, and even the comfort. I feel a bit relaxed now.

    Take care

    (If something drastic does happen in the future, I'll try and update)

  6. #66
    Join Date
    Mar 2012
    Posts
    1,336

    Default Re: Money Order Situation

    Quote Quoting shine9004
    View Post
    chyvan, you did say that the bank closed your account within 12 hours of an out of state purchase.

    No. They closed my account because I was using my debit card "all over the country." Using the card at the Chicago Airport and Disney World within 12 hours was their rationale, not that they did it in 12 hours. They did not close it right away. First they called me to let me know they were closing the account and this was two days after Disney World. I then pleaded with them to hold off because there was no way I could change my direct deposit fast enough. They'd said they think about it, and call me back to let me know. They lied. My online access to my account was blocked in about 3 hours, and they never called.

    And cbg, ask your expert why my account got closed? I'm pretty sure she's going to say she's not seeing a reason for it. It just happens.

  7. #67

    Default Re: Money Order Situation

    Oh sorry for the misunderstanding. I guess Iíll see in a few days to a week whether my account closes or not

  8. #68
    Join Date
    Jun 2006
    Location
    Massachusetts
    Posts
    24,046

    Default Re: Money Order Situation

    My expert said it was POSSIBLE but unlikely that the account would be closed for being a bad risk. Evidently your bank thought you were. That doesn't mean Harry's bank will see it the same way. His situation is not the same as yours.

  9. #69
    Join Date
    Dec 2018
    Location
    San Diego, CA
    Posts
    37

    Default Re: Money Order Situation

    That also happened to me. I also had my account shuttered; the bank people said a lot of things went into it; how long I had it, whether they'll take a loss, etc.

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