|A few years ago I moved to a small town community in Minnesota from another state. As I firmly believe in giving local businesses my financial support, I arranged to handle all of my banking needs through Lake Country Community Bank which had one of it's two main branches less than five blocks from my new home. For the first year I banked with them, everything was wonderful. The tellers knew my name when I walked in the door, the service was superior.|
Unfortunately, the high quality services did not last. As a person who has made mistakes in the past, I keep a close eye on my balance, both through a check register and by online account access. I was very surprised one evening to log into my bank account and discover a negative balance of over $100.00. I paged back through the online history and noticed that the account began going negative the week before despite the fact that I had checked my balance online nightly and my register agreed with the balance I had seen the previous night of over $250.00 to the positive.
Knowing that I am a human being, and I have made mistakes in the past, I immediately deposited more than enough cash to bring the account back to where it should have been.
Once again, everything was fine for several months. I was very surprised when the same thing happened again since I had been very diligent about monitoring my account even more closely after the first incident. I again deposited more money to bring the account to a sufficient positive balance.
It was shortly after the second incident that a friend and I discovered what had happened. She had asked me to go deposit some cash to her account with the same bank as she didn't have time to do so herself. I made the deposit and returned the deposit receipt to her. She glanced at the slip and happened to notice that the slip had the NEXT days date on it as the date of the deposit.
I immediately went home and compared the account history online with my own register and deposit slips. I discovered that the bank had done the exact same thing to me. Then when the bank went back after a week or two and reconciled data, the bank changed the date of my cash deposits to the next days date as listed by their copy of the deposit slip. This of course would cause a bounced item if I used my debit card or wrote a check to someone the same day I had deposited CASH in the morning.
Because the only proof I had of when I deposited cash to my account was the deposit slips with the next days date printed on them, I had no recourse with the bank in reversing the fees I had already paid.
My friend and I both closed our accounts and moved our banking to another bank which did not use this deceptive practice.
When looking over your deposit slips, it is no longer enough to just verify that the amount and account are correct, you also have to check the date and time on the slip. I learned my lesson at this less than honest bank, hopefully this will give others a heads up so they're not taken advantage of as well.