[Fall778899]

Why does it seem to happen so often ? Is wire transfers a no brainer way to go ?

[John Dough]

It doesn't happen that often. You just don't hear about the 99%+ that go smoothly, but you always hear when there's a problem.

[oiler]

yeah but that would be the easiest way of withdrawal.saves all the hassle

[5mike5]

sometimes whole batches of checks bounce like several shops right now....easier just to use an option that cant bounce imo

[John Dough]

sometimes whole batches of checks bounce like several shops right now....easier just to use an option that cant bounce imo

Easier for you, fair enough. Everyone has their own preferred methods.

[5mike5]

Easier for you, fair enough. Everyone has their own preferred methods.

exactly...thats why my post plainly states imo

[John Dough]

exactly...thats why my post plainly states imo

Saying it's your opinion is not the same thing as saying it's merely your personal preference.

It can easily be taken to mean that your opinion is that it's easier for everyone to use other options. Now it's clearer that that's not what you meant, no worries.

[jb456223]

Majority of the time is a particular bank gets suspicious of the account and either places a hold on it or closes it all together. Other times the processor gets wind that the bank is reviewing transactions so the processor pulls the funds out before the bank account gets frozen. There are not many check processors left for US clients anymore and most books use the same one. The processor then has several bank accounts at different banks to distribute the checks to stay below radar. If said processor has book A, B and C sending them withdrawal request and A and C are low volumes they will put those through the same acct. Book B always sends high volumes so they would be set to their own acct. Why it takes long to get your funds when a check bounces is because the book is not willing to send funds to the processor to issue a new check. They already sent the money to them for the 1st check. Essentially would be like the book double paid. It is up to the processor to work with the bank to get the funds back.

[jb456223]

This is why you will see more the one book bounce checks at same time. Never a money issue as processors won't issue the check until they received the wire from the book. You might get notified by the book that your withdrawal has been sent but that really just means they sent it over to the processor. It will stay pending with processor till they have the money then they will make the check. So pretty much it is only a few days that something can happen with a bank acct and funds need to be pulled or acct is frozen. Basically its within the time that the batch of checks are made till you receive it in the mail as I presume you cash it as soon as its received.