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Man what kind of poo poo rear end banks are in America that checking accounts aren't guaranteed from fraud? In Canada I had my checking account hit by a card skimmer (i assume, anyway) and i didn't even have to fill out any paperwork for that to be returned to me.
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Sep 28, 2016 19:32
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Zo posted:Man what kind of poo poo rear end banks are in America that checking accounts aren't guaranteed from fraud? In Canada I had my checking account hit by a card skimmer (i assume, anyway) and i didn't even have to fill out any paperwork for that to be returned to me. Well they're guaranteed if you can prove it's fraud, or at least their fraud team can conclude it's fraud; but until they do, it'll lock your account for a bit, and worry you forever. At least, that's how it worked for us. Not pleasant.
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Sep 28, 2016 19:46
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Zo posted:Man what kind of poo poo rear end banks are in America that checking accounts aren't guaranteed from fraud? In Canada I had my checking account hit by a card skimmer (i assume, anyway) and i didn't even have to fill out any paperwork for that to be returned to me. It doesn't matter if your checking account is guaranteed against fraud if there is any delay between the fraud and the money being returned.
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Sep 28, 2016 19:45
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Yeah, it's all guaranteed from fraud. But what about wire transfers? If there's anything I've learned from this thread it's just gone, man. my credit union fixed a $1500 fraudulent wire transfer within 24 hours
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Sep 28, 2016 19:49
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Twerk from Home posted:People who have savings accounts, why? I have some money in a savings account because, as others have mentioned, I got all kinds of perks for opening both a checking and savings account at the same time. That was at a small, local credit union. My main checking account is at a small-town bank in the town where my wife grew up; it has a better interest rate than 99% of all savings accounts I've had and/or seen advertised. It's a pain in the rear end not having easy access to ATMs, but then that's why we opened up accounts at the credit union.
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Sep 28, 2016 19:57
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Twerk from Home posted:People who have savings accounts, why? I can't find a good short term option for cash at Fidelity, so if I have some lying around I move it to an online savings account temporarily to at least get the 1% yield out of it.
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Sep 28, 2016 20:04
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asur posted:It doesn't matter if your checking account is guaranteed against fraud if there is any delay between the fraud and the money being returned. I don't understand how a savings account helps with this. Don't they usually just freeze both accounts? Seems like a an account at a different bank protects against this better.
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Sep 28, 2016 20:09
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Krispy Kareem posted:Yeah, it's all guaranteed from fraud. But what about wire transfers? If there's anything I've learned from this thread it's just gone, man. AFAIK personal checking accounts are protected from wire fraud as well. Business accounts aren't.
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Sep 28, 2016 20:15
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Leviathan Song posted:I don't understand how a savings account helps with this. Don't they usually just freeze both accounts? Seems like a an account at a different bank protects against this better. Yeah they do.
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Sep 28, 2016 20:17
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Does he have more bird toes on his right bird leg than his left? I don't know the proper terms for them or amount that (s)he should even have, I'm not a bird doctor.
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Sep 28, 2016 20:26
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Twerk from Home posted:People who have savings accounts, why? So that I can skew surveys into thinking that I have no money for retirement.  They're required to be seeded in order to get a free checking account at any of my banks. Also, I leave a little extra in each of them so that there is always something floating around in case of a minor emergency that I don't want to touch the real emergency fund for.
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Sep 28, 2016 20:39
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Teeter posted:Does he have more bird toes on his right bird leg than his left? I don't know the proper terms for them or amount that (s)he should even have, I'm not a bird doctor. Talons?
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Sep 28, 2016 20:41
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Leviathan Song posted:I don't understand how a savings account helps with this. Don't they usually just freeze both accounts? Seems like a an account at a different bank protects against this better. My experience has been that you can get the accounts unlocked almost immediately but may not get the money back until they go through their fraud process. asur fucked around with this message at 20:48 on Sep 28, 2016 |
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Sep 28, 2016 20:44
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Zo posted:Man what kind of poo poo rear end banks are in America that checking accounts aren't guaranteed from fraud? In Canada I had my checking account hit by a card skimmer (i assume, anyway) and i didn't even have to fill out any paperwork for that to be returned to me. Just because you'll get reimbursed eventually doesn't mean it can't gently caress you in the short term. I had someone use my card number (not even physical card, just number, which presumably they just randomly generated or entered) to buy $850 worth of condoms for some reason. It put a hold on my account for $850, which at the time was like all my money. Called up the bank (Chase) and they were like  "oh it'll drop off when it fails to validate the CVC" "why can't you just take it off now since it's very obviously fraudulent" "we're not allowed to remove holds" "let me talk to your manager" "we're not allowed to remove holds, the computer has to do it"It eventually dropped off, but only after a couple days, during which time I was functionally completely broke.
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Sep 28, 2016 20:47
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Parallel Paraplegic posted:Just because you'll get reimbursed eventually doesn't mean it can't gently caress you in the short term. I had someone use my card number (not even physical card, just number, which presumably they just randomly generated or entered) to buy $850 worth of condoms for some reason. It put a hold on my account for $850, which at the time was like all my money. Called up the bank (Chase) and they were like I got my funds back in like 12 hours or something from Chase once I told them it as fraud, then got "confirmation" that it was fraud like a couple days later, don't know why they needed to tell what I told them, but whatever. You must have had a dick on the phone or something.
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Sep 28, 2016 20:53
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Solice Kirsk posted:I got my funds back in like 12 hours or something from Chase once I told them it as fraud, then got "confirmation" that it was fraud like a couple days later, don't know why they needed to tell what I told them, but whatever. You must have had a dick on the phone or something. They said that if it had actually cleared they could have reversed it immediately but apparently holds or unprocessed transactions are as impossible to move as the sun.
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Sep 28, 2016 20:59
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Reddit!"https://www.reddit.com/r/personalfinance/comments/54xmwf/month_to_month_and_now_were_over_the_edge/?st=itnbzy5o&sh=627059f8" posted:For a few years we have been living just at or beyond our means and it has caught up to us. We have roughly $50,000 in CC debt and $20,000 in debt consolidation/personal loans. We bring in about 220,000 gross per year. We are living paycheck to paycheck and due to our debt we are unable to afford our mothy expenses. I have looked at second mortgages and home equity loans but was denied due to score and debt ratio. We also just encountered a substantial issue to our home that will cost of thousands of dollars to fix. I am running out of ideas on how to improve our situation and am hoping someone here might have some advice or ideas I haven’t considered. I am happy to provide more information if it helps you help me—just tell me what is needed. Thank you. Excuse the formatting, proper tables are in the link.
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Sep 28, 2016 20:58
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Somehow, the most galling aspect of all of that to me is 5.2k on a Banana Republic Store Card at 30% interest. Holy moley though. Also: Family of 7 with child support payments? Get your tubes tied or sperm shooter snipped!
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Sep 28, 2016 21:04
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Do they have two homes? I see lines for both mortgage and townhouse.
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Sep 28, 2016 21:04
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Sep 28, 2016 21:05
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quote:Rent $1,595.00 Guys I don't think that's how playing illegal airbnb hotel manager is supposed to work.
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Sep 28, 2016 21:05
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Enos Cabell posted:Do they have two homes? I see lines for both mortgage and townhouse. Yes, they're renting out the townhouse at a loss of $200/month. I'm more concerned with how they're spending $3k/month on food.
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Sep 28, 2016 21:05
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WampaLord posted:Yes, they're renting out the townhouse at a loss of $200/month. It's a family of 7 who's subscribed to the New York Times, they must be free range organic children.
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Sep 28, 2016 21:06
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Haha. Mortgage on townhouse: $1,800. Rent income from townhouse: $1,595. "I'm losing a minimum of $205 a month renting this thing out. If only there was some way I could not own it anymore. Wouldn't it be nice if someone would pay me a sum of money AND I don't have to own it anymore?"
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Sep 28, 2016 21:06
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WampaLord posted:Yes, they're renting out the townhouse at a loss of $200/month. They lumped together groceries, eating out, and gas into one useless metric. Also they've got 5 kids, so food was never going to be cheap.
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Sep 28, 2016 21:08
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Twerk from Home posted:They lumped together groceries, eating out, and gas into one useless metric. Also they've got 5 kids, so food was never going to be cheap. Gas is $2/gallon, and I don't care how many kids you have, $3k/month is unreasonable.
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Sep 28, 2016 21:08
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Leon Trotsky 2012 posted:Somehow, the most galling aspect of all of that to me is 5.2k on a Banana Republic Store Card at 30% interest. Maybe they got a nice pair of capri pants for signing up. Also $355 for auto insurance every month And quote:We do get roughly 10k back in taxes each year.
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Sep 28, 2016 21:10
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Not a Children posted:
Literally 
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Sep 28, 2016 21:12
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Leon Trotsky 2012 posted:Somehow, the most galling aspect of all of that to me is 5.2k on a Banana Republic Store Card at 30% interest. I think the $700 for children is being paid to them to watch other people's kids, since it's under income. e: Or it's child support from an ex I guess
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Sep 28, 2016 21:13
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Twerk from Home posted:They lumped together groceries, eating out, and gas into one useless metric. Also they've got 5 kids, so food was never going to be cheap. 5 kids and child support payments! (Edit: Looks like they are GETTING child support payments and not paying it. Somehow even worse for their budget) Also, they could drop their mortgage by $1,000 dollars a month if they were willing to have a 35 minute longer commute. But it is non-negotiable. And they claim that they are only going to spend $100 on Christmas this year. And they are budgeting by "assuming that their income will continue to rise proportionally" after their income went from 140k to 190k in 5 years. They are going to go down in flames. Leon Trotsky 2012 fucked around with this message at 21:17 on Sep 28, 2016 |
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Sep 28, 2016 21:13
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Leon Trotsky 2012 posted:5 kids AND child support payments! Well they had to make some new kids because the old ones were tainted obviously
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Sep 28, 2016 21:15
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Uh, you guys realize that most likely a chunk of the rent is going into the principle on the townhouse, which they'll own at the end, right? They're (hopefully) not just renting the townhouse and renting it right back out at a loss. It doesn't really look that bad if they cut some stuff down now. It's like 75k debt on 200k income.
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Sep 28, 2016 21:17
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This reminds me of that Heritage Foundation (or whatever it was) funded hit piece of all those cartoon high earners looking super glum with their inability to make ends meet on a half mil a year
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Sep 28, 2016 21:17
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WampaLord posted:Gas is $2/gallon, and I don't care how many kids you have, $3k/month is unreasonable. People are absolute idiots with cars. I have a coworker who lives 74 miles from the office, comes in most days, and commutes in a Hummer H2. That's about $34 a day in gas.
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Sep 28, 2016 21:17
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Twerk from Home posted:People are absolute idiots with cars. I have a coworker who lives 74 miles from the office, comes in most days, and commutes in a Hummer H2. That's about $34 a day in gas. This is why the rest of the world hates us, that guy right there. e: Someone pointed out in another thread that there's probably a lot of people who silently hate their families and the 3 hours they're stuck in traffic a day is their "me" time Shame Boy fucked around with this message at 21:23 on Sep 28, 2016 |
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Sep 28, 2016 21:19
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That lady also claims that they have no real assets that they can sell and that $90 a month is the cheapest internet plan available to her. I don't think she's looking hard enough.
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Sep 28, 2016 21:21
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Zo posted:Uh, you guys realize that most likely a chunk of the rent is going into the principle on the townhouse, which they'll own at the end, right? They're (hopefully) not just renting the townhouse and renting it right back out at a loss. We lose money on every unit, but we'll make it up in volume!
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Sep 28, 2016 21:27
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Zo posted:Uh, you guys realize that most likely a chunk of the rent is going into the principle on the townhouse, which they'll own at the end, right? They're (hopefully) not just renting the townhouse and renting it right back out at a loss. canyoneer posted:"I'm losing a minimum of $205 a month renting this thing out.
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Sep 28, 2016 21:30
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What are you even taking about 
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Sep 28, 2016 21:33
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They should sell the townhouse!
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Sep 28, 2016 21:35
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