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Old 10-08-2018, 02:24 PM
Mrdeals Mrdeals is offline
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Bank won't let me use available funds

About 6 months ago, my bank adopted this policy to protect debit card users, looks good on paper but a disaster in real life.

Basically is you do ANYTHING out of the ordinary, the card is totally shut down.

What did I do today? Bought gas in a town Iíve never been to, and bam, card shut down. Being itís a bank holiday and I canít reactivate it, Iím totally screwed and day is wasted.

I have already decided that tomorrow Iím switching to a different bank.

Question is; can I charge the bank for screwing things up. All totaled Iím out several thousand.

Obviously I could send them a bill, but what are the odds of payment?
  #2  
Old 10-08-2018, 02:25 PM
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Odds? Pretty close to zip, I imagine.

Try a credit union - I've found mine to be much easier to work with than any bank.
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Old 10-08-2018, 02:29 PM
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Changing banks sounds like a good idea. But what do you mean you're "out several thousand"? Surely you're not saying that if you open an account elsewhere the offending bank won't let you withdraw your money? Explain, please.
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Old 10-08-2018, 02:29 PM
thelurkinghorror thelurkinghorror is online now
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Most banks will do this if transactions show up in another state or country and you don't travel much. Though it sounds like you weren't very far from home? Also in my experience, the bank would send an automated call where you can acknowledge the transactions and it will reactivate the card.

Another bank may work better, I don't know of any summary of how strict each bank/CU's policies are. But in the future, you can call them ahead of time and let them know that transactions in a new location will be legitimate.
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Old 10-08-2018, 02:35 PM
Mrdeals Mrdeals is offline
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Originally Posted by ThelmaLou View Post
Changing banks sounds like a good idea. But what do you mean you're "out several thousand"? Surely you're not saying that if you open an account elsewhere the offending bank won't let you withdraw your money? Explain, please.
Here is how I came to that conclusion:

Truck gas: $200
Truck driver: $200
Load value: $13000
Margin on load: 30%
Missed gross revenue: $3900

Being I was unable to take load today, it got sold to a competitor.

So minimum Iím out $4500
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Old 10-08-2018, 02:36 PM
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Originally Posted by Mrdeals View Post
About 6 months ago, my bank adopted this policy to protect debit card users, looks good on paper but a disaster in real life.

Basically is you do ANYTHING out of the ordinary, the card is totally shut down.

What did I do today? Bought gas in a town Iíve never been to, and bam, card shut down. Being itís a bank holiday and I canít reactivate it, Iím totally screwed and day is wasted.

I have already decided that tomorrow Iím switching to a different bank.

Question is; can I charge the bank for screwing things up. All totaled Iím out several thousand.

Obviously I could send them a bill, but what are the odds of payment?
This is one out of roughly 487 reasons why you should ALWAYS carry cash.
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Old 10-08-2018, 02:41 PM
Mrdeals Mrdeals is offline
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This is one out of roughly 487 reasons why you should ALWAYS carry cash.
Yeah Iím not Tekashi69, not about carrying that much cash on me
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Old 10-08-2018, 02:43 PM
Uncommon Sense Uncommon Sense is offline
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Good luck pursuing that. I'm sure you accepted something in the fine print to the affect that the monies could be made unavailable if a suspect purchase was made.
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Last edited by Uncommon Sense; 10-08-2018 at 02:43 PM.
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Old 10-08-2018, 02:51 PM
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I would still make a complaint. Loudly, at the main branch.
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Old 10-08-2018, 03:05 PM
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Lots of us believe in having multiple methods of payment--ranging from cash to checks to debit cards to credit cards.
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Old 10-08-2018, 03:15 PM
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I would still make a complaint. Loudly, at the main branch.
This. Go to the bank with the intent to close the account. Tell the manager exactly why you'll no longer be a customer of the bank. They either do what it takes to keep you, or you leave with your money.
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Old 10-08-2018, 03:19 PM
sitchensis sitchensis is offline
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Let me get this straight. You deal in $15k debit card transactions that have to be paid at the time the truck arrives or if not they'll sell it to your competitor? No invoices, commercial checks or credit cards? That sounds like something I'd watch on the Discovery channel.
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Old 10-08-2018, 03:27 PM
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Itís confusing that your business is moving loads of goods by truck, one assumes to various locations, and they tagged your card for a gas fill up, in a new spot. I grant you itís no doubt a larger $ amount than the average fill up, but still. Does the bank not know what you do to earn your money?

If things donít go your way at the bank, tell them you find the whole thing laughable and you canít wait to post it to Facebook so your friends can have a good laugh too! Give them a few minutes to let it sink in. When I did this, after my bank was being ridiculous and intractable, they changed their minds within ten minutes! Remember donít be angry and threatening, just find it laughably ridiculous.

Care to share the name of the bank with us?

Wishing you Good Luck!
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Old 10-08-2018, 03:39 PM
Mrdeals Mrdeals is offline
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Let me get this straight. You deal in $15k debit card transactions that have to be paid at the time the truck arrives or if not they'll sell it to your competitor? No invoices, commercial checks or credit cards? That sounds like something I'd watch on the Discovery channel.
My main business is discounted trucks, mishaps, discontinued, or damaged product. Super cut throat! Today they had a truckload of name brand paper products, packaging changed and they needed the stuff in old packaging gone. The warehouses lose their ass on this product so they want cash or card or wire....being today was a bank holiday, transfer doesnít work, canít get to the cash....only option was card.
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Old 10-08-2018, 03:40 PM
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I always carry at least 2 credit cards in addition to my debit card. I've had 2 fail before when traveling.

You can also let your bank know when you're traveling, good idea if it's far.

Some good advice is to keep $20 in your car somewhere for such emergencies.

I'd talk to your bank about this situation and see what they say. Talk to a manager if need be, but be prepared to change banks if they don't offer any solutions.
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Old 10-08-2018, 04:29 PM
gdave gdave is online now
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You can try pursuing compensation from your bank, but if your bank's debit card doesn't have a 24/7 Customer Service line for exactly this sort of situation, I'd change banks ASAP.

Banks being proactive in flagging suspect transactions can be a PITA - I've had my card blocked several times while trying to make a purchase (I'm in the "wrong" city, the vendor is in the "wrong" city, etc.). OTOH, my bank has also caught legitimate fraudulent activity on my card twice that I hadn't noticed. So, overall, I appreciate the feature. But then, my bank has a 24/7 line to call about blocked cards. Again, I'd change banks ASAP.

A bit of a derail about your losses. If I'm understanding your situation correctly, I think you're either out $400 or $3500, not $4300. You've got $400 in expenses, which you would have had even if you had been able to conduct your business, and you've lost foregone income of $3900. If you had been able to conduct your business, your net income for the day would only have been $3500. So, if you want to claim compensation, it seems to me like you could only claim your actual out of pocket loss of $400, or your loss of net income of $3500.
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Old 10-08-2018, 04:31 PM
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If you were notified of the policy then my guess is you're SOL. Even if not, I doubt your agreement guarantees that the service will always work every time you want it to.

And for the like six thousandth time, never use debit cards for purchases. Use credit cards. Because when something wrong happens with the debit card, it happens to your money instead of the bank's. This shouldn't be news to anyone who has been awake in the past couple decades but apparently it needs constant repeating.
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Old 10-08-2018, 04:36 PM
thelurkinghorror thelurkinghorror is online now
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Originally Posted by Beckdawrek View Post
I would still make a complaint. Loudly, at the main branch.
I hope you don't mean cause a scene, that rarely works but does make you look trashy. And in my brief time working in banking, scammers are likely to use this tactic. Get this haircut for maximum effect.

A branch manager might have the clout to advance your claim to the right place, and I see no harm in letting them know why you're closing an account. But the branch workers can't actually fix this issue for you, they can only call the phone bank and maybe get better results.
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Old 10-08-2018, 04:53 PM
Marvin the Martian Marvin the Martian is offline
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This has happened to me with one of my credit cards at a gas pump. I mis-keyed in my zip code and the transaction failed. Within seconds I got a text message asking if I had tried to make the purchase, I texted back "y", and the card was immediately re-activated.

I have never had an issue with my debit card, I have used it at ATMs around the world. Also at grocery stores when I wanted cash back. Even when I would mis-key the PIN I always get a second chance.

Time to get a bank that is actually working in the 21st century.
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Old 10-08-2018, 06:54 PM
Hilarity N. Suze Hilarity N. Suze is offline
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Okay, this may be revealing a fraud control secret, but one of the first things people do when they steal credit cards is a usually small transaction at a gas station, where if it doesn't work they can just drive off.

If it does work they head for Best Buy.

So, if you are stepping out to make a large purchase and you need gas also, get the large purchase first. Then the gas. Because this is a flag even if you're in your usual milieu, and even more so if not.
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Old 10-08-2018, 07:00 PM
HurricaneDitka HurricaneDitka is online now
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Originally Posted by Mrdeals View Post
... tomorrow I’m switching to a different bank. ...
This sounds like a good plan.


Quote:
Originally Posted by Mrdeals View Post
Question is; can I charge the bank for screwing things up. All totaled I’m out several thousand.

Obviously I could send them a bill, but what are the odds of payment?
This one, less so. They'd almost certainly blow off a simple request for payment.

With enough money to hire an army of lawyers, I'd still give you fairly slim chances of prevailing and getting them to pay you directly for your costs, but ... your army of lawyers could force them to hire an army of lawyers, which wastes a bunch of their money, even if it all goes to enriching lawyers and you never see a dime of it. That could provide you some measure of satisfaction / revenge.

For most of us, we don't have that much money to blow and the juice ain't worth the squeeze. YMMV.

ETA: I'd recommend either carrying enough cash for emergencies, or perhaps having a second / third / fourth credit card / bank account you can access in case of emergencies. Personally, I've got my money spread across several different financial institutions. If one were to freeze my account, I'd shrug and pull out a different card.

Last edited by HurricaneDitka; 10-08-2018 at 07:02 PM.
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Old 10-08-2018, 08:19 PM
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I hope you don't mean cause a scene, that rarely works but does make you look trashy. And in my brief time working in banking, scammers are likely to use this tactic. Get this haircut for maximum effect.

A branch manager might have the clout to advance your claim to the right place, and I see no harm in letting them know why you're closing an account. But the branch workers can't actually fix this issue for you, they can only call the phone bank and maybe get better results.
You don't have to go stupid on them, but do tell it to the right person. There's no reason not to. The OP has been wronged. The bank will explain their fraud protection and no money will be forthcoming, but still. I would move my account in a heartbeat, I wouldn't tell it allover Facebook cause I don't do Facebook. It sounds like a good idea though.
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Old 10-08-2018, 08:41 PM
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Is this a small town bank without 24/7 service? I agree, the false fraud holds can get annoying.
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Old 10-09-2018, 07:10 AM
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And for the like six thousandth time, never use debit cards for purchases. Use credit cards. Because when something wrong happens with the debit card, it happens to your money instead of the bank's. This shouldn't be news to anyone who has been awake in the past couple decades but apparently it needs constant repeating.
This. The only place I use my debit card is when I'm withdrawing cash from my bank's ATM.

Also, it's weird to me that the OP's ability to do business hinges on a single financial instrument (i.e. the debit card) whose main feature is

Quote:
Originally Posted by Mrdeals
Basically is you do ANYTHING out of the ordinary, the card is totally shut down.
Is there a compelling reason not to have a couple of credit cards in your wallet along with that debit card? Some reason that justifies the risk that inherent in depending on a single debit card for all of your business expenses?
  #25  
Old 10-09-2018, 07:32 AM
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This has happened to me with one of my credit cards at a gas pump. I mis-keyed in my zip code and the transaction failed. Within seconds I got a text message asking if I had tried to make the purchase, I texted back "y", and the card was immediately re-activated.
A few years ago we were returning from St Martin after a two week stay. I used a credit card to purchase our flights, rent our wreck, pay for meals, etc.

At the airport I paid for our checked bags and the card was declined! I knew I hadn't maxed it out, and it had worked fine for two weeks. My app buzzed, asking if it was a legit use. I clicked "YES" and handed my card back to the nice lady.

That was a weird one.
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Old 10-09-2018, 07:43 AM
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Yeah Iím not Tekashi69, not about carrying that much cash on me
Your bank "tested your gangster". You failed.
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Old 10-09-2018, 08:26 AM
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Don't you hate it when those pesky "Bank Holidays" sneak up on you?
  #28  
Old 10-09-2018, 09:33 AM
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Also, it's weird to me that the OP's ability to do business hinges on a single financial instrument (i.e. the debit card)...
^This. Eggs in one basket and all that.

And your bank did not prevent you from using available funds. They shut down your debit card according to rules that you apparently knew in advance. The only reason that the only option was a debit card is because you failed to plan for that contingency. It's no different than had you misplaced the card on a bank holiday. If nothing else, keep the card number and CVV written down somewhere safe so you can give the card info over the phone.

You're inconvenience != bank screw up.
  #29  
Old 10-09-2018, 10:03 AM
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Bought gas in a town Iíve never been to, and bam, card shut down. Being itís a bank holiday and I canít reactivate it, Iím totally screwed and day is wasted.
...
Question is; can I charge the bank for screwing things up. All totaled Iím out several thousand.

Obviously I could send them a bill, but what are the odds of payment?
It was rejected; at this point you're not sure why. It could be a new location but they usually give you some proximate distance before they cut you off as being 'away'. It could be that your acct didn't have sufficient funds; maybe it was already compromised / drained by some other person. It's also possible that there was some issue with that gas station; did you try the card anywhere else? Are you sure it was shut down?

Even if it was the first one, did you not have cash/another credit card to be able to purchase gas?

I'm sure it was probably a legitimate reason; printed in the bank's disclosures to you; therefore, I'd highly doubt you'd be able to get compensation for what you couldn't do based upon not being able to get gas. I'm not doubting you, but everyone would try that 'scam'; "I couldn't get gas & therefore lost hundreds/thousands of dollars. No, I don't have the receipts from what I didn't buy to back up my claims. You just need to trust me."

Also, before you change banks, ask them what the daily limit is on a corporate debit card. Most banks won't let you get that much out on a personal account; corporate acct might be higher because even if there was no problem & you had bought gas, they may very well have denied the $13,000 purchase as being over the limit.
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Old 10-09-2018, 10:28 AM
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My main business is discounted trucks, mishaps, discontinued, or damaged product.
I know a guy who does a similar thing. This spring he mentioned that he'd just purchased a truckload of dog/cat kibble. He asked if I wanted any. I explained how careful I am with my dogs, but thanked him anyway. He asked about our fish (koi and goldfish in our pond).

He gave me 200 pounds of assorted dog and cat food. The fish have been eating well.
  #31  
Old 10-09-2018, 10:41 AM
Hari Seldon Hari Seldon is offline
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My bank has an emergency number that is active 24/7, including even Columbus Day (that's Canadian Thanksgiving, in fact). If not, I would change banks. My cards are all chip and PIN and if they steal the card but don't know the PIN, they are SOL.
  #32  
Old 10-09-2018, 11:08 AM
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This is one out of roughly 487 reasons why you should ALWAYS carry cash.
No, this is why you have a back up credit card.
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Old 10-09-2018, 11:33 AM
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No, this is why you have a back up credit card.
I also carry cash (along with several cards) for the time when a power failure occurs and the merchant cannot run a card.
  #34  
Old 10-09-2018, 11:56 AM
jnglmassiv jnglmassiv is online now
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No, this is why you have a back up credit card.
Second card also declined, strip demagnetized/chip deeply scratched, the previously mentioned merchant power outage or other equipment failure. OPs livelihood depends on certain payments being made and having a cash backup is literally free insurance.
  #35  
Old 10-09-2018, 12:56 PM
Qwakkeddup Qwakkeddup is offline
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My very first experience with a debit card, I went to the gas station 1 mile from my home, filled tank. Card was declined at the grocery store not 15 minutes later.
Called the number on the back and was told I would have to wait for the next business day for my card to be reactivated.
Two weeks without the card, I had gone back to checks, they sent me a new card with new numbers. Spent that first year getting a new card every 1-2 months.
Then they had the audacity to tell me that I would be held responsible for $300 worth of gas purchased in Utah. Can you tell this was when the debit cards were first starting to become normal?
No, they didn't charge me for the Utah gas purchase. Only had to go into the main branch, Sign like I was getting a Mortgage, and PROMISE that I never went to Utah to buy gas with the intent to not pay for it. Oh, and keep and eye out for your new card in the mail. should be within two weeks.
They shut my card off that day and I had to wait.
  #36  
Old 10-09-2018, 01:19 PM
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Yeah, I agree. Navy Federal is good. All you have to do is be related to a member or be a current or former member of the military. Some groups have credit unions. They have different deposit insurance. I've also used Key Bank for years. I go away from home infrequently and use my debit card for groceries, gas, hotels and have never had a problem even though it's unusual for me. When I used to travel overseas I would let Key know ahead of time and it worked well. They are really good about any problems, such as a couple of time my number was stolen. I got a new card overnight. Need to be sure you balance your checkbook at least once a month in case they don't catch it within the reporting period.
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Old 10-09-2018, 01:30 PM
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Not good

Quote:
Originally Posted by Mrdeals View Post
About 6 months ago, my bank adopted this policy to protect debit card users, looks good on paper but a disaster in real life.

Basically is you do ANYTHING out of the ordinary, the card is totally shut down.

What did I do today? Bought gas in a town Iíve never been to, and bam, card shut down. Being itís a bank holiday and I canít reactivate it, Iím totally screwed and day is wasted.

I have already decided that tomorrow Iím switching to a different bank.

Question is; can I charge the bank for screwing things up. All totaled Iím out several thousand.

Obviously I could send them a bill, but what are the odds of payment?

Somehow, you agreed to this. Either by clicking something or not clicking something. Or by accepting a "change in policy" notice in your email. when they change something you have an opportunity to close the account. It's a bad idea of course. I've see ads on TV where you can shut down the card yourself instantly if you left it somewhere or lost it. A friend has his stolen in Malaga, Spain recently and he was able to shut it down right away. but then he had to get a new one. So much theft out there these days. So,if you do switch banks make sure you check their procedures carefully. I think its irresponsible for the bank to shut it down given that we now rely on debit cards so much. I rarely use cash myself and I'm 75 and don't get out much. I pay my regular bills online with a debit card and get the points. I also use my Visa to pay bills and get lots of points that way. And they can be transmitted to Amazon instantly to offset an order charge if you want to.
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Old 10-09-2018, 01:33 PM
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I know a guy who does a similar thing. This spring he mentioned that he'd just purchased a truckload of dog/cat kibble. He asked if I wanted any. I explained how careful I am with my dogs, but thanked him anyway. He asked about our fish (koi and goldfish in our pond).

He gave me 200 pounds of assorted dog and cat food. The fish have been eating well.
How does make money buying dog food then giving it away?
  #39  
Old 10-09-2018, 01:36 PM
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Volume?
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Old 10-09-2018, 01:45 PM
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Originally Posted by Mrdeals View Post
About 6 months ago, my bank adopted this policy to protect debit card users, looks good on paper but a disaster in real life.

Basically is you do ANYTHING out of the ordinary, the card is totally shut down.

What did I do today? Bought gas in a town Iíve never been to, and bam, card shut down. Being itís a bank holiday and I canít reactivate it, Iím totally screwed and day is wasted.

I have already decided that tomorrow Iím switching to a different bank.

Question is; can I charge the bank for screwing things up. All totaled Iím out several thousand.

Obviously I could send them a bill, but what are the odds of payment?
why dont you use credit card instead? if you swipe your debit card at a gas station and it gets hacked, the burglar has direct access to your money compared to bank's money when using a credit card. I had similar exp where they stole 3k in 3 days from my credit card in a different state. But it wasn't my money and the bank sucked up the lose. I get notification from my bank on out of town transactions and I even call my bank the day prior, let them know my travel plans so they dont block it.
  #41  
Old 10-09-2018, 01:46 PM
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Second card also declined, strip demagnetized/chip deeply scratched, the previously mentioned merchant power outage or other equipment failure. OPs livelihood depends on certain payments being made and having a cash backup is literally free insurance.
If I read the OP's follow-up post correctly (see upthread), he was talking about buying $13,000 worth of cargo to resell elsewhere. If so, then that's a dangerous amount of cash to be carrying around.

Last edited by Machine Elf; 10-09-2018 at 01:46 PM.
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Old 10-09-2018, 02:39 PM
jnglmassiv jnglmassiv is online now
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Originally Posted by Machine Elf View Post
If I read the OP's follow-up post correctly (see upthread), he was talking about buying $13,000 worth of cargo to resell elsewhere. If so, then that's a dangerous amount of cash to be carrying around.
Perhaps but, by OP's account, this lack of insurance cost over $4000. I'm not saying always have $15000 in currency in your pocket. Keep it secured at home for that day your card(s) is/are declined.

Also, would most credit cards even allow for such a high limit?
  #43  
Old 10-09-2018, 03:23 PM
pdhenry pdhenry is offline
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Originally Posted by jnglmassiv View Post
Also, would most credit cards even allow for such a high limit?
Of the cards I carry, about half have a $20k limit.
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Old 10-09-2018, 03:44 PM
jnglmassiv jnglmassiv is online now
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Originally Posted by pdhenry View Post
Of the cards I carry, about half have a $20k limit.
Sure but would the *average cardholder* have such a high limit? You built that kind of credit. We're discussing someone who apparently doesn't already have a general purpose credit card of any kind which makes me question creditworthiness. Also, I assume OP sometimes needs this sort of advance more than once a month.
  #45  
Old 10-09-2018, 03:47 PM
jnglmassiv jnglmassiv is online now
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Originally Posted by Fear Itself View Post
How does make money buying dog food then giving it away?
WAG: Might have been damaged packaging. Product contents are fine but packaging is unsuitable for retail sale.
  #46  
Old 10-10-2018, 07:00 AM
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kayaker kayaker is online now
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Originally Posted by Fear Itself View Post
How does make money buying dog food then giving it away?
Heh. He gave me a tiny fraction of the load as a "thank you" for something I'd helped him out with.

Quote:
Originally Posted by jnglmassiv View Post
WAG: Might have been damaged packaging. Product contents are fine but packaging is unsuitable for retail sale.
It was nearing sell-by date. He talked to some people and sold the load for profit to an animal rescue organization that then gave it away. Everyone won.
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Old 10-10-2018, 07:06 AM
Ludovic Ludovic is offline
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Heh. WAG.
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Old 10-10-2018, 09:34 AM
Saint Cad Saint Cad is offline
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What bank does not have a 24/7 fraud hotline that could have dealt with this?
__________________
If all else fails, try S.C.E. to Aux.
  #49  
Old 10-10-2018, 10:32 AM
PastTense PastTense is offline
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Originally Posted by Saint Cad View Post
What bank does not have a 24/7 fraud hotline that could have dealt with this?
Virtually all cards have an 800 number printed on the card. OP: did you call this number?

Maybe he did and picked the wrong option.
  #50  
Old 10-10-2018, 10:39 AM
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StarvingButStrong StarvingButStrong is offline
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My brother was a long haul trucker for a few years. One time he was delivering toilet paper to a store but the plastic wrapping on one of the pallets had gotten sliced open somehow in the loading. So the store rejected that pallet, and his control center told him to just dump the pallet somewhere -- it wasn't worth the effort to try to sell it or return it to anywhere.

As it happened, his route to his next pickup passed just twenty miles from our parent's house.

Do you have any idea how long a pallet of toilet paper lasts a household with just two people in it??
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