AboutShane Expertise Hello, my name is Shane. I currently work at a financial institution in customer service and sales. I am able to answer most questions you have regarding banking products and services, how to use them, and what products may benefit you best. I can also help you to weigh the risks of various types of savings vehicles such as questions pertaining to CDS, money market accounts, etc. Feel free to ask and I promise I will do the best I can to answer.
Experience Customer Service and Sales call center experience. Assists in training new hires for customer service. Well versed with FDIC policies, banking compliance laws, and a wide variety of product knowledge.
Organizations American Association of Medical Assistants
Education/Credentials High School Graduate and Medical Assisting Diploma
Awards and Honors Significantly exceeds expectations annual review from the bank I presently work at
My credit card company has been consistently clearing the same checks twice. My bank has informed me the credit card issuer present the original paper check to my bank, then a few days later present the same amount as an ACH electronic transaction. YES I am working with the credit card company to resolve the issue. But my question is only concerned with legal banking.
I've asked my bank what can they do to stop this? I've asked my bank for an address, so that I may put in writing, that my card carrier is not authorized to draw twice on the same check. The response from my bank is that they cannot do anything. That anybody can present any amount as an electronic transaction as many times as they wish to, and they are completely powerless to stop it.
Frankly, I find this hard to believe. I would love to find something in the Uniform Commercial Code banking regulations that disputes their version of responsibility in the matter.
Answer your bank is absolutely 100% correct. Your credit card company is the person withdrawing the funds, what they have done is taken your routing and account numbers from the bottom of your check, and they send it through as an ACH transaction. Check numbers are irrelevant since even if it was just a paper check the same paper check number can clear as many times as it is presented. (i.e. you order checks, you order the same numbers twice on accident, they will clear again). The only way to attempt to stop the credit card company is to place a stop payment on them. However, the banks will only place a stop payment as how it appears in the cleared transaction history. this will cost you roughly $30. However, credit card companies are wise to consumers doing this and they will change the way their name appears. i.e. it may clear as ABC CREDIT CARD COMPANY and they place a stop payment as such. the first time that payment comes back as stop payment, they may try to withdraw it as ABC CREDIT CARD COMPANY 1. and so forth. Generally, we only see this in collections attempts, but bear in mind for each name it shows up as, you have to place a separate stop pymt and pay the fee each time. You must try to resolve this issue with your credit card company directly, banks are able to place stop payments per your request. If they continue to draw off the account, they can place the stop payments again, but once again, they may try to withdraw under a different formation of their name. they are allowed to do this if it is for collections efforts or a past due balance.
