Re: Quick Explanation from a FI Fraud Investigator
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I don't mean this to be flippant, but all you seem to be doing is justifying a banks right to be an "Indian Giver" and I mean no disrespect with this statement ..it is simply an apt description of your position.
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I'm not justifying it, I'm just telling you how banks operate. The only way to eliminate practices like this is to remove checks a legal means of paying debts, and that will not happen anytime soon.
The law is written in such a way to allow you access your funds in a timely manner, instead of waiting 2-3 weeks. The government wants you to spend money, they would prefer you to have early access it, banks are allowed to collect upon it if it goes bad.
The message I'm trying to send is you should be carefull who you accept checks from.
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