what can one do if faced with this situation? (Urgent advice needed)

bootle

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An old woman buys a cashier's check from her local bank payable to her daughters account at another out of state bank.<br /> <br />"enough dough to buy a new Range Rover".<br /><br />She then mistakenly mails it to the wrong address, upon discovering her error she then approaches her local bank and asks them to put a stop payment on the check, which at the present time has not been cashed by anyone.<br /><br />Her local bank refuses to put a stop payment on the check, not until after ninety days, they said to the old woman, the only other way to go if you don't want to wait for ninety days is to purchase an "indemnity bond".<br /><br />Where do i purchase such a bond? asks the old lady.<br />I don't know, replied the bank official, allow me to make a few calls and find out how we can help you, i shall call you and let you know, it may take a couple of hours.<br /><br />True to his word the bank official calls the old lady and tells her that she has no alternative but to wait for ninety days before they can put a stop on her check, providing that no one has cashed it.<br /><br />What about the bond? asks the old lady, the reply was, i don't know where to get those from, but after ninety days we can stop the check and proceeds to hang up the phone after reciting a few seemingly polite pleasantries.<br /><br />This old lady is my neighbor, and i would like to help her, but i don't know where to start.<br /><br />I think that it is wrong for them to let this woman wait around and possibly be defrauded like that.<br />Is there not something to be done that can help her? :(
 

Ron G

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Re: what can one do if faced with this situation? (Urgent advice needed)

I dont know the answer,wish i knew something seems like the bank could stop it,but a cashiers check is just like cash from my understanding good luck.
 

Bondo

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Re: what can one do if faced with this situation? (Urgent advice needed)

I buy Bank Checks all the time for ebaying,... No Doubt Much Smaller amounts though.....<br /><br />I got Screwed around on 1 auction,+ Had No Problem having a Stop Payment issued on it,.... For a Fee.......<br /><br />If I were Her,.... I'd find a Different Bank.....<br /><br />I wish I could be of More Help.......
 

Holdimhook

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Re: what can one do if faced with this situation? (Urgent advice needed)

Darth, have her go directly to the president of the bank and explain her situation. That doesn't sound right at all. Also, she probably should make as much noise in the local media as she possibly can. BTW, an indemnity bond can probably be purchased from a local insurance agency that sells commercial lines of insurance to business, contractors, etc... but the suggestion by the bank employee of her having to do that is absolutely ridiculous.
 

tomatolord

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Re: what can one do if faced with this situation? (Urgent advice needed)

At that amount call the state attorneys office - inform the bank president - also go to the bank website and find who is on the board and call them as well.<br /><br />Then inform the bank president that you will be going to the newspaper and tv station - little old lady screwed by bank is NOT the type of publicity they need.<br /><br />Tomatolord
 

BoatBuoy

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Re: what can one do if faced with this situation? (Urgent advice needed)

They'll put a stop payment on it after 90 days? Heck, some checks are not even good after 90 days, they expire. doesn't sound like they're doing her any favor.<br /><br />In addition to what's been suggested, I'd be tempted to take advantage of one of those free visits to an attorney that they're always advertising.
 

tommays

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Re: what can one do if faced with this situation? (Urgent advice needed)

If its like a certifed check we use here ? there not that easy to stop<br /><br /> Here you would have to post a bond in the amount of the check until it was clear what had happened and there were no complaints<br /><br />And at least at my bank there very carfull to warn you about this and what you will have to due if even lose the check :( <br /> <br /><br /><br />tommays
 

neumanns

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Re: what can one do if faced with this situation? (Urgent advice needed)

I understand the scurry and fear but the truth is the adress has nothing to do with it. Someone is gonna have to break several laws to cash it if it was made out to her daughters account. The bank is only doing what there supposed to be doing...That is the only value of a cashiers check. If they were easily canceled they would have no value!<br /><br />Contact where she sent it and have them return it.
 

bootle

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Re: what can one do if faced with this situation? (Urgent advice needed)

Upon further investigation, i have discovered that it was addressed in the name of her daughter's bank, with the wrong address, the P.O Box address that it was inadvertedly sent to in error belongs to an insurance company.<br />The Saga continues :(
 

brother chris

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Re: what can one do if faced with this situation? (Urgent advice needed)

Darth, that sounds like GOOD news. If she knows where it was sent to, especially and insurance company, I'm thinking the insurance company will be giving it back. <br />Could you imagine the headlines "Insurance Company, charged with forging someones elses signature".<br />It sounds like this story will have a happy ending, hopefully.
 

bootle

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Re: what can one do if faced with this situation? (Urgent advice needed)

I still have a bad feeling about this :(
 

fireman57

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Re: what can one do if faced with this situation? (Urgent advice needed)

Has anyone contacted the insurance company to see what they have done with the check that they received made out to someone else and has a return address on the envelope?
 

Boomyal

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Re: what can one do if faced with this situation? (Urgent advice needed)

Welllll! We're waiting Darth. You should have an idea of the outcome by now. Hope it is a good one.
 

KRS

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Re: what can one do if faced with this situation? (Urgent advice needed)

She made the check payable to the bank's name???<br /><br />So.... the insurance company (who might bank there) could deposit it, so could the other 100,000 customers that have accounts at that bank.<br /><br />Her problem is this... IF she made it payable to (insert name here) First Federal of Yonkers, and someone cashes/deposits it.... she can't dispute it because it was negotiated as it was payable. Only if someone negotiates the check using a forged endorsement or alters the check can she recoup her money.<br /><br />Never, ever ever make any check payable to a bank unless you put a specific account number on it.<br /><br />The bank is right about the indemnity... I wished they could answer her questions promptly and not so easily display how inept they are.<br /><br />If those checks were so easy to cancel, they wouldn't carry the faith of the people who buy them.<br /><br />As for the indemnity... each bank is different but she may need to put up the amount of the check as surety to the bank for a determined period prior to releasing it to her.<br /><br />Somebody above made the comment that the bank is screwing this lady. How? She mailed a check that she bought with cash to the wrong address. That check is guarateed funds to the party it's payable to. She apparently didn't understand the limitations of a cashier's check / official check when she purchased it, and I'm sure the customers in line behind her were happy the teller didn't spend 15 minutes explaining it to her.<br /><br />At my bank, we won't even try to stop payment on one until 30 days after purchase date, and then only after the customer puts up surety to cover the check (read: "cash"). So when they bought it they paid cash for it, and when they indemnify the bank they cover it again, so it ties up the amount of the check x 2.<br /><br />Lastly, there is a material difference between money orders, official checks, and cashier's checks.... which was this?
 

bootle

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Re: what can one do if faced with this situation? (Urgent advice needed)

The Insurance was contacted, the best help that they can offer is if the check shows up they will return it to the sender, as a matter of fact they have been incredibly rude and seemed not wanting to be bothered. They would not even let me speak to a supervisor or manager in their accounts recievable dept.<br />Thats one Insurance company that will never ever get my business.
 

bootle

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Re: what can one do if faced with this situation? (Urgent advice needed)

Double post dang! how did i do that? :(
 

bootle

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Re: what can one do if faced with this situation? (Urgent advice needed)

My understanding is that this cashiers check has the daughters name on it as well as the name of the bank and the ac# to where it is to be deposited.
 

NathanY

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Re: what can one do if faced with this situation? (Urgent advice needed)

Well Wally, if the postman there is like my post man here, he will deliver it to where it needs to go. I get mail all the time with the wrong address on it, they seem my name, scratch out the address and write my address on it. My postman knows everyone in my neighborhood, and he know what mail goes where just by the name and not the address. Good Luck, and I hope everything works out for her.
 

bootle

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Re: what can one do if faced with this situation? (Urgent advice needed)

Hi Nate, glad to see that you're still around.ya need to post more often ;) <br />I told her that she needs to get an attorney to contact the insurance company and the bank, i tried to help but it has been frustrating as hell when the folks at the other end of the line are impolite and could'nt give a rats arse.<br /><br />Do you have the same phone # ?
 

bootle

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Re: what can one do if faced with this situation? (Urgent advice needed)

All is well that ends well :D <br /><br />The bank called this morning and told her that the check was returned to them and that she needs go in to the branch and sign an affidavit before recovering it, any time today will do.<br /><br />I really felt terrible that this old dear had to experience such anguish, i became aware that the check represented the entire sum of what her late husband had left her.<br />Many elderly folks are not as sharp as they once were, anyway i'm tremendously happy with the outcome, therefore i have a little errand to make after work :D <br />Thanks for all the good advice :)
 
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