Everything's Funny To Someone.
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| Write That Down Everything's Funny To Someone. |
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Tuesday, June 14, 2005 It's Good To Be The Bank There's a story in today's P-I about a man named "Smart" who lost $30,000 through check fraud and how his bank has basically shut the vault in his face. You know, little guy takes on big business stuff. Only in this case big business wins because the little guy signed a 73 page checking account agreement stating he wouldn't take the bank to court to get his money back. Far be it from me for making fun of the little guy, but: He didn't read the 73 page agreement? Who doesn't read that? Sucker. Anyway. So this guy thought he was protecting himself by having two different accounts: A normal active checking account from which he would pull funds for checks, debit cards, etc., and another secret account where most of his money would lie in state, acting as a reservoir from which he would transfer funds into his active account. A fairly revolutionary idea, except most people have one of these. They're called savings accounts. So shock of all shocks, an alleged drug using relative broke into this guy's house while he was on vacation, stole some checks that were accidentally printed with the account number of the secret account, and now he's thirty grand in the hole. Tough luck for the guy, but what I found surprising was why he set up this two-account system to "protect" himself in the first place: Smart's mess began last summer, when he found an Internet company had charged his checking account twice for the same $20 bill. He didn't want it happening again, so he agreed to the two-account plan. Which just goes to show it doesn't cost much to lose a lot of money. posted by ben | 8:47 AM |
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