My question involves personal finance in the State of: Colorado
I have a weird problem. I have accounts with Navy Federal and so does my daughter. At Navy Federal, you have an access number and all your accounts are linked to it. I have an access number with a checking and saving, and she has an access number with a checking and savings linked to it.
Because I am a cosigner on her accounts (she is in college), when I go into my access number, I also see her accounts. But, when she logs into her access number, she doesn't see mine.
She, unfortunately, got involved in the roommate scam. She put an ad on craigslist advertising for a third roommate, and, well, most of you know the scams. The roommate sent a check for the deposit and first month's rent, then tried immediately to get my daughter to send some of it back. My daughter told her she wouldn't do anything until the check cleared.
When she tried to deposit the check using the Navy Federal app, it kept getting denied. She called the bank branch and was told the app doesn't do business checks well because of the width to length ratio.
She asked me to do it using the scanner attached to my computer. I logged into my access number, scanned it and deposited it into her account. It was received, but a little while later, it was denied, as well.
So, she took it to the branch bank, which is a 2 hour round trip from out home, and deposited it. Because it was an out of state check, of course the funds were being held. She expected that.
But, I couldn't log on using my access code anymore. I called the bank, but there is an investigation flag on my account and all anyone can do is sent me to the Investigation department. They won't help me at all. At first, they kept saying my accounts would be locked until the check cleared. I asked them why, since it wasn't even one of my accounts that received the deposit, and since none of the accounts received any actual money because the funds were withheld.
The rep I spoke to really couldn't give me an answer beyond my accounts would be closed until the check cleared. Ironically, my daughter's account, the one the check was deposited into, isn't locked. She can log into her access number and use her account.
I keep getting the same story. So, as of yesterday, the check amount was placed into my daughters account after waiting 6 days, so we thought the check was good. We got a call this morning from a woman at the branch office saying the check was fraudulent. She spoke to my daughter and told her the check had been deposited wrong and funds had been released when they shouldn't have been. She was also puzzled as to why my accounts are locked over the situation, when my daughter's account hadn't been locked and yet the money had been released to her account. She also said something to the effect that since the money was released to us, we actually had a legal right to it. Although, I'm thinking my daughter probably misunderstood the last part. Anyway, the money has been returned to the bank. The woman from NFCU also told my daughter how to take the info to the police to report the fraudulent check.
I don't want money that isn't mine. I want my money.
As of today, I am on day 7 of being denied access to my own money. I've always had my accounts at Wells Fargo, and our business accounts are there, also. I moved my bill paying account over to Navy Federal to see how it would be to do only online banking because we are so far from a branch. I am on the second year and it has worked wonderfully until now. I was on the verge of moving everything else there, because the rates and charges are better there, and I never seemed to need a branch. Everything can be done online now.
If you don't get locked out of your accounts, that is.
All my bills are set up to be paid out of that account, and I have a savings account linked to my checking for use in case I making a money error. I make one deposit there at the end of the month and pay all my bills out of it.
So, they did this to me during the last week of the month. I wasn't able to make my monthly deposit, but I know many of my bills are going to automatically come out. I don't know if the charges are being refused and returned, or if I'm building up a ton of overdrafts. I don't know because I can't log in, and when I call the bank, they can only send me to the investigation department, and they will tell me nothing about my account, but only tell me my account will be locked until the check clears.
The check has been processed and returned. My daughter's accounts aren't locked at all. She could have easily taken off with the money they mistakenly gave her, whereas I can't even pay my bills.
And now I'm simply not given a reason at all, except that they are somehow still processing the check that processed yesterday.
I understand crediting the account, then putting a hold on that amount until it clears. I understand using a pending feature. I've been with banks who do one or the other to give time for checks to clear. But can they legally withhold funds that have nothing to do with the check in question, and do I have any legal recourse? I don't want money from them, but I don't want them to ever do it again.
I have a weird problem. I have accounts with Navy Federal and so does my daughter. At Navy Federal, you have an access number and all your accounts are linked to it. I have an access number with a checking and saving, and she has an access number with a checking and savings linked to it.
Because I am a cosigner on her accounts (she is in college), when I go into my access number, I also see her accounts. But, when she logs into her access number, she doesn't see mine.
She, unfortunately, got involved in the roommate scam. She put an ad on craigslist advertising for a third roommate, and, well, most of you know the scams. The roommate sent a check for the deposit and first month's rent, then tried immediately to get my daughter to send some of it back. My daughter told her she wouldn't do anything until the check cleared.
When she tried to deposit the check using the Navy Federal app, it kept getting denied. She called the bank branch and was told the app doesn't do business checks well because of the width to length ratio.
She asked me to do it using the scanner attached to my computer. I logged into my access number, scanned it and deposited it into her account. It was received, but a little while later, it was denied, as well.
So, she took it to the branch bank, which is a 2 hour round trip from out home, and deposited it. Because it was an out of state check, of course the funds were being held. She expected that.
But, I couldn't log on using my access code anymore. I called the bank, but there is an investigation flag on my account and all anyone can do is sent me to the Investigation department. They won't help me at all. At first, they kept saying my accounts would be locked until the check cleared. I asked them why, since it wasn't even one of my accounts that received the deposit, and since none of the accounts received any actual money because the funds were withheld.
The rep I spoke to really couldn't give me an answer beyond my accounts would be closed until the check cleared. Ironically, my daughter's account, the one the check was deposited into, isn't locked. She can log into her access number and use her account.
I keep getting the same story. So, as of yesterday, the check amount was placed into my daughters account after waiting 6 days, so we thought the check was good. We got a call this morning from a woman at the branch office saying the check was fraudulent. She spoke to my daughter and told her the check had been deposited wrong and funds had been released when they shouldn't have been. She was also puzzled as to why my accounts are locked over the situation, when my daughter's account hadn't been locked and yet the money had been released to her account. She also said something to the effect that since the money was released to us, we actually had a legal right to it. Although, I'm thinking my daughter probably misunderstood the last part. Anyway, the money has been returned to the bank. The woman from NFCU also told my daughter how to take the info to the police to report the fraudulent check.
I don't want money that isn't mine. I want my money.
As of today, I am on day 7 of being denied access to my own money. I've always had my accounts at Wells Fargo, and our business accounts are there, also. I moved my bill paying account over to Navy Federal to see how it would be to do only online banking because we are so far from a branch. I am on the second year and it has worked wonderfully until now. I was on the verge of moving everything else there, because the rates and charges are better there, and I never seemed to need a branch. Everything can be done online now.
If you don't get locked out of your accounts, that is.
All my bills are set up to be paid out of that account, and I have a savings account linked to my checking for use in case I making a money error. I make one deposit there at the end of the month and pay all my bills out of it.
So, they did this to me during the last week of the month. I wasn't able to make my monthly deposit, but I know many of my bills are going to automatically come out. I don't know if the charges are being refused and returned, or if I'm building up a ton of overdrafts. I don't know because I can't log in, and when I call the bank, they can only send me to the investigation department, and they will tell me nothing about my account, but only tell me my account will be locked until the check clears.
The check has been processed and returned. My daughter's accounts aren't locked at all. She could have easily taken off with the money they mistakenly gave her, whereas I can't even pay my bills.
And now I'm simply not given a reason at all, except that they are somehow still processing the check that processed yesterday.
I understand crediting the account, then putting a hold on that amount until it clears. I understand using a pending feature. I've been with banks who do one or the other to give time for checks to clear. But can they legally withhold funds that have nothing to do with the check in question, and do I have any legal recourse? I don't want money from them, but I don't want them to ever do it again.
Banking: Navy Federal Locked My Account for 7 Days Now
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