Has anyone had any problems lately with checks being dishonored? I just mailed LOC checks to pay off my Chase & BofA accounts. I guess I'm a little nervous that the checks will be returned. Wish me luck. I let you know if I have any problems. :-I
Miles, it has been posted many times here that you should only write those checks to yourself to deposit into your own bank account. Let it clear, then pay your bills however you normally would. This way, if the Amex LOC check should bounce, no one will know but you. If Amex bounced one of those checks on one of your other credit card banks, you could have serious problems.
Your correct about only writing the LOC checks to youself. I rec'd my checks and package on 12/14 and verified my account is active with zero balance and 10,000 limit . I verified this 15-20 times with live reps since 12/14. Below is what has happened to me: 12/22...Deposited check# 101 Amex LOC into my personal checking for $2,000 12/28..returned to my bank unpaid.charged $15 by my bank for returned check.Thank God I didn't use that money yet. Called AMEX, they apologized, etc. and told me they would opened an investigation on 12/31 to see what the issue is. 1/02/02..AMEX calls and states there is a system glitch that will not allow funds to be dispersed from my account. Asked if this is a bigger problem than me and they basically said "NO COMMENT". They said write another check and for right now when they receive it they will manually process it and release funds from my AMEX LOC.They guaranteed me they would make good on this one. 1/4/02 (8am..est).. AMEX SR. Department manager calls and stated they think the issue is resolved and just to be sure they will flag my account with instructions to manually process the 2nd check to ensure it won't be bounced again. 1/05/02.(today).Returns department at my local bank makes a special call to me to inform me that AMEX has sent the 2nd check back for no reason again??? 1/05/02 Called AMEX CS , no manager available, they just keep apologizing . The rep felt that maybe the 2nd check came thru before they put the flag on my account on 1/04/02. Don't trust them!! Will write a 3rd check!
If the 3rd check doesn't work, wiring money would be my next request. I'm willing to go 3 strikes and your out before asking for the wire x-fer. My concern about the entire situation is the individuals who work for these financial institutions are clueless about their internal processes and how to properly treat a customer. During this entire ordeal they have never once picked up the phone and updated me on the situation. I have called them several times and basically did my own investigation to get to the root problem. It was someone at my bank in the Returns Department who sat down and looked at the check, after it had been sent back, who felt something was wrong with their systems. I then called AMEX and let them know what they were doing wrong. 3 days later they confirmed this, say they have reso;ved the situation, and tell me everything is ok now. They were well aware about the charges I have been receiving for the return checks but never once offered to pay for anything??? I had to ask and then they said to fax the documents to them for reimbursement.
So far so good, over 7k to various bills, all cleared. Must say their online system SUCKS, not much you can do their.
I have been able to deposit 1 loc check to my checking and pay down some debt directly to creditors twice without any problems. so far so good.
Re: Amex LOC results... The checks that I wrote went through fine. They have posted to my Chase & BofA accounts as well as my Amex Membership Banking account. What a relief!!
Re: Amex LOC results... The following was pasted from a thread last week: Your correct about only writing the LOC checks to youself. I rec'd my checks and package on 12/14 and verified my account is active with zero balance and 10,000 limit . I verified this 15-20 times with live reps since 12/14. Below is what has happened to me: 12/22...Deposited check# 101 Amex LOC into my personal checking for $2,000 12/28..returned to my bank unpaid.charged $15 by my bank for returned check.Thank God I didn't use that money yet. Called AMEX, they apologized, etc. and told me they would opened an investigation on 12/31 to see what the issue is. 1/02/02..AMEX calls and states there is a system glitch that will not allow funds to be dispersed from my account. Asked if this is a bigger problem than me and they basically said "NO COMMENT". They said write another check and for right now when they receive it they will manually process it and release funds from my AMEX LOC.They guaranteed me they would make good on this one. 1/4/02 (8am..est).. AMEX SR. Department manager calls and stated they think the issue is resolved and just to be sure they will flag my account with instructions to manually process the 2nd check to ensure it won't be bounced again. 1/05/02.(today).Returns department at my local bank makes a special call to me to inform me that AMEX has sent the 2nd check back for no reason again??? 1/05/02 Called AMEX CS , no manager available, they just keep apologizing . The rep felt that maybe the 2nd check came thru before they put the flag on my account on 1/04/02. Don't trust them!! Will write a 3rd check! Update!!!1/10/02 This is now resolved! The computer problem was fixed and a $5,000 check was honored by the AMEX LOC account. For my troubles they are reimbursing me for each check that was returned and also sending me a $200 American Express Cash gift certificate within 3-5 business days. If they come thru on this then I'm satisfied!
Re: Amex LOC results... TRADE THIS---->$200 American Express Cash gift certificate within 3-5 business days-----> FOR A $25,000 LIMIT AND/OR LOWER APR???
Re: Amex LOC results... I would hope he was pulling your leg?? I wouldn't even think about asking them for that.
Re: Amex LOC results... YES...but if your HAPPY...fine. Get AMEX to write a letter ASSUMING RESPONSIBILITY for the problem if it comes back to BITE YOU IN THE BUTT at a later date.
Re: Amex LOC results... They've got some nerve. A single returned check would put a Blue account in default status, and yet they keep bouncing their own checks left and right. I won't be doing any business with their Banking division until they are worthy of the name "Bank". Saar
Re: Amex LOC results... That's a great deal, Tommy, re the gift check. Good for you. I hope things go smoother for you in the future. As for me, I'm going to hold off until I see some improvement in customer feedback.
