How NOT To Bank.

[fruitcakesa]

My bad bank story :
Went into the small town local bank that I had been using for a few years and asked for a letter of credit to take to an auction so I did not have to carry a wad of cash.
The teller called the manager who came out of his office and, instead of asking me into his office, said in front of a roomful of customers that he did not know me and would not give me the letter.
I immediately withdrew all my cash and went across the street to their competition and opened an account and after 30 years, am still banking there and am well known by all employees and manager.
BTW, the Ahole manager from the other bank died young:thumbsup:

 

[Steppenwolfe]

Got my escheatment check today from SC... every penny of the $5200 Bucks. :cool2: Pretty much paid for my new stump grinder...

 

[MoKelly]

Got my escheatment check today from SC... every penny of the $5200 Bucks. :cool2: Pretty much paid for my new stump grinder...

Fantastic. I am always pleased when someone gets their money from the State.

MoKelly

 

[Chrisb009]

Interesting story...rule of thumb; I don’t bank with one bank. I bank with over 10 banks and spread my assets (if you call fiat money an asset) over the multitude of banks. I typically use credit unions and stay away from the “To Big To Fail” institutions. I never use a debit card for anything more than withdrawing cash at the specific bank’s atm. This comes from someone who has worked in the banking industry for more than 10 years.

 

[Steppenwolfe]

Fantastic. I am always pleased when someone gets their money from the State.

MoKelly

:drink: Well, I guess it was my money from the beginning; no one was more shocked than me. I had completely forgot about the lien I had placed and moved on. Wouldn't have ever thought of it if not for this thread.

 

[jmc]

....and spread my assets (if you call fiat money an asset) over the multitude of banks.

Nailed it. Failing to appreciate the difference between money backed by assets and money backed by faith in institutions is a failure of the imagination.

As a kid, I read a story about a confederate soldier who had just been paid and he went into town to celebrate. A street vendor selling cornbread tempted him so he gave the vendor his confederate note, the vendor put the note on his pan of cornbread, used it as a template, and cut off a piece of cornbread the size of his "paycheck", and pocketed the note.

Fiat money - Wikipedia

 

[two_bit_score]

:drink: Well, I guess it was my money from the beginning; no one was more shocked than me. I had completely forgot about the lien I had placed and moved on. Wouldn't have ever thought of it if not for this thread.

Glad it worked out for you and some others here also. Dont forget to check your states website at least once a year. You never know what might show up there with your name on it.

In Texas it is: Texas' Official Unclaimed Property Site - Texas Comptroller - Texas.gov

Google your state Unclaimed Property. That will usually find it, or check with your State Treasurer or Comptroller.

 

[kenmbz]

I finally got my escheated check from NJ and paid back the loan I took out to pay back my renters deposit.
This process was easy, but I still ask why they took my money without notifying me.
Good luck fighting the government on this one.
Will never put money into that bank again and NO more paperless banking.

 

[two_bit_score]

Lot of reasons you didn't get a notice. Lost in mail, clerical error on address, etc. Dont think it really matters legally. Its your responsibility to check the states unclaimed property fund list.

 

[MoKelly]

Will never put money into that bank again.

Exactly. Good decision.

Some banks try much harder than others to locate owners. With the staff they use to cold call you and try to sell stuff, they can use the internet to find customers. Not rocket science.

Just my opinion.

MoKelly