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Frozen banking accounts??? by private companies..outrageous!!

Discussion in 'The PatsFans.com Pub' started by Pats726, Jun 29, 2006.

  1. Pats726

    Pats726 Rookie

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    I heard about this on a talk show and I wonder what is going on!!!!
    This one couple purchased airline tickets for a trip to Africa and used a debit card. The next day, they went to dinner and the card was declined. They learned that the airline had frozen the account!!!
    Now, is this some new law that allows a private business to freeze a bank account without any notification of the account holder????
    After an hour, it seems that this is a more common thing. One guy bought a used car from a delaership, used a cashier's check and then, teh dealership froze the account!!
    Someone was using a debit card at a gas station and was told that if they purchased more than 60 dollars worth that their account could be frozen for a week.
    There were many more stories of how PRIVATE parties are being allowed to freeze accounts of citizens.
    I can see some logic to HOLDING an amount to be sure a check clears, but freezing an account????
    Seems like some bank laws have gotten through that are messing with citizens in a bad way...Heard of this????
  2. sdaniels7114

    sdaniels7114 Rookie

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    I signed up for autowithdraw from Citizen's bank to pay my truck note. They lost the paperwork and after the second missed payment, froze my entire account on a Friday afternoon so I was broke for the entire weekend. Not just 2 payments worth, the entire account. I didn't even get an apology when the idiots found the lost paperwork. I now bank with Bank of America.
  3. FreeTedWilliams

    FreeTedWilliams pfadmins PatsFans.com Supporter

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    #75 Jersey

    This is a direct result of bank fraud, if you have ever gotten any of those emails about your long lost great uncle and his millions in Nigeria oil, you know where this comes from.
    Here is how the scam works: They will put the money in the account, and then order large ticket items from the stores, suppliers, et al, the store will in turn make a bank draft (which basically asks the bank if their is enough money in the account, it does not debit the account at that time), the bank draft will say yes, there is enough money in the account, the store ships the large item, and then the bad guys take the money out of the bank account before the store can debit the account it is empty. So stores have started to freeze accounts as to not get ripped off like this, waiting for their debit to clear.

    They latest Nigerian scam here is English Bulldogs! Of course everyone in Georgia wants a bulldog, however English bulldog puppies go for @$2,000 a piece, so the Nigerians have been selling them for $500, then of course, the inevitable delay in Customs in which they tell the customer to send them another $300 or so for the "duties", I've already gotten 10 calls about this.
  4. Pats726

    Pats726 Rookie

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    What law gives a private company a right to freeze a private citizens account?? WITHOUT any notification or consent of the party???
    THAT is one law that has snuck by us all...I am all for stopping scams, but giving private companies the right FREEEZE my account is BOGUS!!!
  5. FreeTedWilliams

    FreeTedWilliams pfadmins PatsFans.com Supporter

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    #75 Jersey

    It is not a law, it is included in all of that fineprint that nobody ever reads in thier credit card agreement.
  6. Pats726

    Pats726 Rookie

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    But..it seems like it has happened with cashier's checks..debit cards as well as credit cards..but is this a NEW thing banks are allowing?? Interesting that so fewpeople know about that..

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