Falsifying My Ledgers

Community UserCommunity User Member ✭✭✭✭
edited October 2018 in
Are all banks now deducting funds from accts when you send checks online, be it thru online banking or straight out of quicken. It didn't use to be this way.My ledgers are now false. Checks are marked cleared but thay havent even been cashed. I have checks that I write to myself sitting here on my desk but they have cleared my acct. How can that be? I have checks that have been discarded by the recipient or lost for whatever reason,ie my mom refused money from me ..., That money should be in my acct. What about checks that I don't even know about that haven't cleared. I thought they were clear because my ledger says they are. I've gone back to manually writing check again. If the bank wants paper checks I'll write them. At least I've got the money in my acct. I love the convienence of sending checks out of Quicken but I refuse to use it anymore nor will I update to newer versions of sofeware to keep current with online banking. Why should I?Is there a bank that posts correctly or are they all doing this?Am I the only one that this bothers because I'm anal?If this issue bothers you too, what can we do about it.I got more to complain about but I'm done for now

Comments

  • gmalis1gmalis1 Member ✭✭✭✭
    edited February 2017
    Why don't you check with your bank and ask them these questions?Doesn't sound like a Quicken problem to me.
  • Community UserCommunity User Member ✭✭✭✭
    edited July 2016
    The people at the banks say its third party problems.So far I've found that intuit bought Paytrust which runs on Metavante sp? software and it all boils down to forcing all of us to allow Metavante to collect 40% of its income to interest off of our money. Our inconvienance = big money for them. This is what I have concluded to date. I would love to be wrong, but I don't think I am.Intuit seems to be at the bottom of it all.
  • gmalis1gmalis1 Member ✭✭✭✭
    edited February 2017
    Your first post never mentioned anything about Paytrust.Suggest you searh on this forum for additional threads regarding Paytrust and Quicken. I know there are numerous discussions.
  • Community UserCommunity User Member ✭✭✭✭
    edited July 2016
    All I really want is to bank somewhere that I can send payments out of my software and have them clear when they really clear. Intuit bought Paytrust and you will see Paytrust dwindle into nothing. I've used Quicken since they came out for personal banking and Quickbooks for my businesses and have been very pleased untill just recently because of posting issues. I send all paper checks from my businesses so that was never an issue. I'm checking out msMoney because I think they deal through CheckFree and supposedly they post correctly. I would hate to go that route. I will probably just return to sending out paper checks.I guess nobody else really cares that you ledgers are not correct and that third party vendors steal your float and its extremely inconveinant.
  • Rocket J SquirrelRocket J Squirrel SuperUser ✭✭✭✭✭
    edited October 2018
    > I guess nobody else really cares that you ledgers are> not correct and that third party vendors steal your> float and its extremely inconveinant.If it's important to you, then you should shop around for a financial institution which doesn't steal your float.For example, I can tell you that Smith Barney lets me keep the float on online payments and doesn't debit my account until the check is deposited by the payee.On the other hand, Wells Fargo debits my account on the date the payment is issued. (Once, a payment was lost between Wells and the payee, but the money was already gone from my account. This is indeed a pain when it happens.)It's probably hard to find out what individual FI's do in this regard, and they probably reserve the right to change their policy without notice. But it's best to vote with your feet and do business with the firms which serve you best.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win7 Pro & Win10 Pro.
  • Rocket J SquirrelRocket J Squirrel SuperUser ✭✭✭✭✭
    edited October 2018
    In late breaking news, Bank of America (California) has announced it will let customers keep the float. They say "Your money remains in your account until the payee receives the payment."It's nice to see that a bank - and a really big one, at that - is listening.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win7 Pro & Win10 Pro.
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