advice on banking laws

[tonytt13]

What is the name of your state? california

 

[tonytt13]

banking laws

heres my situation.my bank wells fargo,authorized a transaction to my debit/check card from a merchant in the sum of 2500 dollars,when the balance of the account was zero.i repeat i had nothing in my checking account, but they still approved it. they are now trying to make me liable for this and have since closed my account.can they do this? what can i do about this?do i have any rights regarding this type of action. thank you tony t

 

[hexeliebe]

how about a little more information

like , was the charge legitimate and for something you purchased?

 

[tonytt13]

reply

the charge was from a bailbond co. that wanted out contract in which they had posted a 25 thousand dollar bond for me , but all of a sudden they considered me a liability.the charge was ligit and im not disputing that.its the fact that my bank approved it when it was clear ihad no funds. think of it like this. if i wrote you a check for 500 dollars and had zero in my account would you expect them to cash it. ps thank you for your intrest in this tony

 

[hexeliebe]

instead, think of it like this....

on the back of your bank card, and in the agreement you signed to open the account you agreed to pay all outstanding debts owed the bank in acting on your behalf...

I've done work with Wells Fargo in Seattle, WA. and have had an intimate relationship with their depositor agreements.

Pay them and get on with your life. It's not worth trying to find a way out and no matter what happens you're going to be on the hook for the money.

 

[JETX]

From your post, it appears that you had a $25k bond and needed to post 10% of it ($2.5K). You wrote a NSF check to the bailbondsmen to get out of jail. The bail bondsman probably has a zero balance account that he deposits these checks into..... and when your check bounced, there weren't any funds in the bondsman account to reverse the transfer. So, your bank paid the funds out.... and has every right to expect you to reimburse them.

And the civil penalties for your passing this bad check are substantial:
http://www.checkmatic.com/ca.html

 

[effeddex]

some bank accounts, allow a certain amount of overdraft (with penalty of course). That's why the check didn't bounce.

You'll also be charged a NSF charge and and interest on the 2500$.

If you don't pay the 2500$ back, u won't be able to open another bank account under your name and it may also affect your credit rating.

cheers!

 

[JETX]

Efffedex:
With all due respect, I doubt that someone who lives in Toronto would be qualified to respond to legal questions based on US law.

 

[HomeGuru]

Efffedex:
With all due respect, I doubt that someone who lives in Toronto would be qualified to respond to legal questions based on US law.

**A: especially being that effedex is an "architectural student that is thinking about doing a law degree".