DachsieHaven (dachsiehaven) wrote in bad_service,

  • Mood:

You don't take what???

My mind is still trying to wrap itself around a financial institution that does not accept cashiers checks for loan payoffs and doesn't bother to post that anywhere on its website.

Last week I got enough money together to pay off a loan from my 401k so we could take out another one to finish an emergency remodel of our kitchen. They offer an automatic debit service but they put a weeks hold on you ability to take out a new loan. The fastest way for a turnover is to overnight them a check because they don't put a hold on your account and you can process a new loan immediately. So I look up all the information on the website and it says in small letters pay off with money order send to xxxx address. And below it in large letters " as of x date PERSONAL checks will no longer be accepted". Since this is a large amount the bank made out a CASHIERS check for the amount. Being that its the "company" credit union the gal even noted that it was for a loan payoff and asked for additional info like loan # to put in the memo line as a courtesy. So I was not doing anything unusual.

Now I sent this off last Friday Priority Super Express Mail to arrive bright and early Monday morning so all would be good and I could get a new loan started on Tuesday. Its Thursday and nada so I called. They are sending the Cashiers Check back via slow mail since they only accept money orders for payoffs not cashiers checks. Now I can pay off my Mortgage or my car loan or any other loan with a cashiers check but not this loan. I have never heard of a banking institution no accepting a cashiers check and then not making it clear that the DON'T.

So when the check arrives back I get to put the money in my account and try it all over again with numerous money orders because they don't allow them in that large of a single lump sum or I can fall for their game of doing it online debit where they can then hold my money hostage for a week. It would have been nice if they made it clear that they are a mutant financial institution before I wasted an hour driving around to get the check and $20 mailing it overnight only to find that I now have to waste that same hour again to get a refund on the check when it finally gets around to getting here. And well that nice four day long weekend next week. Well we won't be spending it finishing the flooring on the kitchen. Its going to have to wait until hubby's Christmas break....yeah Christmas with plywood floors and a disassembled kitchen.
Tags: *banking/finance
  • Post a new comment


    Comments allowed for members only

    Anonymous comments are disabled in this journal

    default userpic

    Your reply will be screened

    Your IP address will be recorded