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Paper Checks & Our Rights
72% of all non-cash transactions are by check. But slowly, large banks are trying to remove this much needed service.
CHARGE CARDS: Initially, it began with charge cards. This was offered to both the merchant and us at very low rates. Now, due almost exclusively to credit cards, many consumers are into debt like never before. Userous interest rates (29%) and high fees are bankrupting millions of people. (I cut all of mine up over ten years ago - I use to have 56 charge cards. I now only have one that is used for gas & emergencies)
CUTTING SERVICES: During this same time banks attempted to stop returning cancelled checks to their customers - there was a tremendous out cry and people demanded their checks back. (I understand that some banks are trying to justan image of your checks - don't let them do that!! If you should have to prove you DID pay a merchant - an image will NOT hold up in a court of law - you MUST have the original check. If you DON'T have the check, you could end up paying for something TWICE!!)
DEBIT CARDS: About ten years ago, banks begun to realize that charge cards were never going to make an impact, so they introduced debit card. This service took the moneys directly from our checking account - no more charging. To open a debit card the banks act like they're opening up a charge card. I nearly died when I was charged .75 for a debit card transaction -I don't believe I was alone. Then I forgot to record a transaction down & a check was bounced. Or how about the time I used my debit card for gas, they reserved $50 and I had checks bounce. Even though I had encough month (I don't have a debit card either)
CHECK CONVERSION: Now banks are trying to change the way they process our checks. In this situation the merchant scans the check and returns it to us immediately. This service really violates my privacy. I know that some of these machines are actually taking an image of my check - signature and all. (Just call me silly - but that is MY SIGNATURE and I don't want any one to have it but me) Not only that, but these conversions then have access to your bank account & can potentially charge your account twice for a single transaction.
With Check Truncation Act now more people want to convert my check...I just tell them NO. I want my check back so that I can prove in a court that I paid you! But some check collection companies are electronically debiting your account for return check fees WITHOUT your written authorization. YES, they either need your WRITTEN authorization or your VERBAL authorization to electronically charge your check for fees. That the law of the ACH world (known as NACHA).
So if you should see a local merchants name at the bottom of your bank statement & it appears to be for a service charge (it might say Service Chg on the line). Then just march right into your bank and demand your money back. They might send you a collection letter that makes some lame threats but most a really just empty threats, like sue you or turn you over to an attorney. Either way, you now have the option of whether you want to pay or not.
I'll like to hear some of the problems that occur with this. The same people that are providing this service are also profiling you. I know that some places are declining your check, merely because you disputed an electronic charge. - check the links out below!!
Remember KNOWLEDGE is POWER
Problems with Electronic Conversion
To register YOUR site on Engines
Guard My Credit File
Send E-Mail to: thecheckgirl@yahoo.com
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