Fuel Economy, Hypermiling, EcoModding News and Forum - EcoModder.com - View Single Post - Scangauge purchases (potential group buy)

Nerys · 05-17-2008, 03:22 PM

Actually the debit system is instant as well. Thats also more "fraud" on the part of the bank. OK goto wawa and buy a soda using your bank card. Now 30 seconds later log into your bank account. Interesting the soda is already deducted from your account. NOW your gonna say wait a minute it says pending.

Well that pending is purely artificial. Whats pending about it?

Here is where it gets nasty. Here is where you get into Racketeering and Embezlement. (except its legal if your a bank)

First some definitions. Embezlement is when you "handle" someones money and you "fudge" the records to basically steal money from them.

Racketeering is when you "charge" for a condition and that condition is an intentional result of your own creation. IE you "fabricate" a condition with the intent of making someone pay you to relieve that situation.

I walk into your deli and say I want $100 a week protection money. You reply Protection from who? I reply as I smack my fists ME you moron.

I am CREATING a situation (me beating you up or tearing apart your store) and then demanding you pay for a service to protect yourself from .... ME.

Get it? good.

Ever get an OVERDRAFT or INSUFFICIENT FUNDS charge? there usually $29-$35 most (90%) are now $35 some MORE. all my banks except one is $35.

You write a check for $50. you only have $20 in the account. The bank can accept it over drawing your account or they can bounce it and charge you the INS fee.

Either way they get $35 from you. YOU WANT them to overdraft because if they do not the OTHER END will also charge you fees. On a credit card payment this can quickly cause a bounced $15 payment to turn into $140 in fees!! if your close to you limit and you schedule your payment for the due date. The bank bounces it $35 fee. The Credit card company charges for the bounce as well $35 and now your LATE another $35 and now your OVER your limit another $35 (no I am not kidding) Thats $140 you have to pay in fees and you also still owe the $15 payment.

Thats criminal enough but it gets EVEN better.

Lets get back to that PENDING thing. you see there is another law. When you write checks they are dated and number. Check # 854 855 856.

Clearly one might think you intended them to go in that order. but checks are funny they have to be MAILED IN (in the past) so what happens if the bank RECIEVED check #853 and then gets check #859

What happened to #854-858 ? do they have to WAIT till those come in before they can cash 859? are they lost? Delayed? not even used?

So law was passed permitting the bank to "reorder" your transactions in any order they desire. so they can cash 859 without waiting for the earlier number to arrive. Makes sense right? sure makes sense to me.

Here is where it gets sticky. DEBIT cards. They virtually eliminated check usage over night. Well thats a problem banks make a LOT of money from those odf and ins fees.

They also ABUSE that authority to reorder the transaction. More on that later.

Debit cards eliminate both since there is no check to bounce and if there is not enough money the transaction will decline (IT IS real time do not let them tell you otherwise)

Well this is where it gets funny. They now without your consent will forward you a LOAN for the amount of the transaction. SO if you have $2 in your account and buy a $2.50 slurpee from 7-11 they will Front you the 50 cents so the transaction goes through.

AND THEN CHARGE YOU $35 for the CONVENIENCE !!!!

SO that $2.50 slurpee just cost you $37.50 ! Cute ehh!!!

and you can NOT turn this "loan shark" deal off its COMPULSORY even though its equivalent to a loan with an APR in some cases in the MILLIONS of a % (no I am not kidding) thats what an interest rate of 70,000% on that 50cents you overdrew?

IT GETS BETTER!! NOW they realized they could still use that law permitting them to REORDER the transaction. BUT thats embezlement to alter ones records.

THATS where the "pending" came from. by marking it as pending its NOT a full transaction yet. its in LIMBO (like checks clearing) NOW they can do some funny stuff.

Let me give you an example. Lets say you go out tonight. You have $60 in your account.

You buy a 4 songs on itunes for $1 each (balance $56) you buy a soda from wawa for $2 (bal $54) you get a movie ticket for $9 (bal $45) then you buy a popcorn for $5 (bal $40)

On the way home you put $21 in the gas tank (bal $19)

Then you pay your charge card $40 (you forgot you only had $19 left) (bal -$21 + 35fee total -$56 in your account)

OK How many transactions do we have. 8 You overdrew the account by $21 the bank covers you and pays it for you. They charge you $35 for the pleasure. OK you screwed up you eat it cause they save you from getting $105 in charges from your nearly maxed out credit card. Life goes on you deposit $56+ to bring your account over zero again. All is good in the world again.

Well you THOUGHT it was. Problem is you see those transactions are still PENDING and the bank decides $35 fee is not enough.

They put your LAST transaction FIRST $40 payment. (bal $20) Then they apply your $21 gas purchase (Bal -$1 +$35 fee) They they appl your Movie Ticket $9 bal -$45 + 35 fee)
They they apply your popcorn purchase (bal -$80 + 35 fee) They they apply your Soda for $2 (bal -$117 + 35 fee) They they apply EACH $1 purchase (bal -$155 +$35 +$35 +$35) for a Final Balance of NEGATIVE -$260

NO I am not kidding THEY DO THIS on a daily basis and its PERFECTLY legal. You only overdrew the account by $21 but they were able to EMBEZZLE the money by REWRITING the transaction order from larger to smallest to "maximize" the number of fees they could charge you. In this case thats also why they "covered" the charge payment since it further increases the amount of fees. If it was the ONLY overdraft many times they will bounce it. (depends on the bank)

THAT is why debit transaction are marked as "pending" that simple artificial pending statement lets them do this. They make literally BILLIONS each year on overdraft fees. (go look it up will boggle your mind)

THEY they have the gal to say well you should have overdraft protection. Thats were racketeering comes in. Both with the "front you" the overage (miro loan) and with the over draft protection (which they ALSO charge for more on that later)

If they did not front you the micro loan would you need the over draft protection? If I did not threaten to beat you up would you need the protection services?

The first decade PLUS that I had a checking account it worked as it should. I make a charge and if there is not enough money it declines. When wachovia bought first union is when that changed.

Overdraft protection used to be a logical offering and it was free. I mean its YOUR money in that savings account right? now they charge between $8 and $12 per overdraft transfer. They got even greedier. It used to be a "set" amount was moved for this $50 or $100 or something like that. NO MORE. Now the PRECISE amount is moved. if your overdraw 8 cents they move 8 cents charge you the fee for doing it. Why? well if you overdraw $25 in 4 transactions and they move $50 they only get ONE fee if they move the exact amount they can charge you 4 fees. See?

Its Fraud. Its Embezzlement and its Racketeering. Its quite simple a legalized criminal operation.

THAT is why they are marked as PENDING. :-)

05-17-2008, 03:22 PM	#59 (permalink)
Nerys Grrr :-) Join Date: May 2008 Location: Levittown PA Posts: 800 Cherokee - '88 Jeep Cherokee 90 day: 19.44 mpg (US) Ryo-Ohki - '94 Geo Metro Xfi 90 day: 50.15 mpg (US) Vger 2 - '00 Plymouth Grand Voyager SE Ninja - '89 Geo Tracker 90 day: 30.27 mpg (US) Thanks: 12 Thanked 31 Times in 25 Posts	Actually the debit system is instant as well. Thats also more "fraud" on the part of the bank. OK goto wawa and buy a soda using your bank card. Now 30 seconds later log into your bank account. Interesting the soda is already deducted from your account. NOW your gonna say wait a minute it says pending. Well that pending is purely artificial. Whats pending about it? Here is where it gets nasty. Here is where you get into Racketeering and Embezlement. (except its legal if your a bank) First some definitions. Embezlement is when you "handle" someones money and you "fudge" the records to basically steal money from them. Racketeering is when you "charge" for a condition and that condition is an intentional result of your own creation. IE you "fabricate" a condition with the intent of making someone pay you to relieve that situation. I walk into your deli and say I want $100 a week protection money. You reply Protection from who? I reply as I smack my fists ME you moron. I am CREATING a situation (me beating you up or tearing apart your store) and then demanding you pay for a service to protect yourself from .... ME. Get it? good. Ever get an OVERDRAFT or INSUFFICIENT FUNDS charge? there usually $29-$35 most (90%) are now $35 some MORE. all my banks except one is $35. You write a check for $50. you only have $20 in the account. The bank can accept it over drawing your account or they can bounce it and charge you the INS fee. Either way they get $35 from you. YOU WANT them to overdraft because if they do not the OTHER END will also charge you fees. On a credit card payment this can quickly cause a bounced $15 payment to turn into $140 in fees!! if your close to you limit and you schedule your payment for the due date. The bank bounces it $35 fee. The Credit card company charges for the bounce as well $35 and now your LATE another $35 and now your OVER your limit another $35 (no I am not kidding) Thats $140 you have to pay in fees and you also still owe the $15 payment. Thats criminal enough but it gets EVEN better. Lets get back to that PENDING thing. you see there is another law. When you write checks they are dated and number. Check # 854 855 856. Clearly one might think you intended them to go in that order. but checks are funny they have to be MAILED IN (in the past) so what happens if the bank RECIEVED check #853 and then gets check #859 What happened to #854-858 ? do they have to WAIT till those come in before they can cash 859? are they lost? Delayed? not even used? So law was passed permitting the bank to "reorder" your transactions in any order they desire. so they can cash 859 without waiting for the earlier number to arrive. Makes sense right? sure makes sense to me. Here is where it gets sticky. DEBIT cards. They virtually eliminated check usage over night. Well thats a problem banks make a LOT of money from those odf and ins fees. They also ABUSE that authority to reorder the transaction. More on that later. Debit cards eliminate both since there is no check to bounce and if there is not enough money the transaction will decline (IT IS real time do not let them tell you otherwise) Well this is where it gets funny. They now without your consent will forward you a LOAN for the amount of the transaction. SO if you have $2 in your account and buy a $2.50 slurpee from 7-11 they will Front you the 50 cents so the transaction goes through. AND THEN CHARGE YOU $35 for the CONVENIENCE !!!! SO that $2.50 slurpee just cost you $37.50 ! Cute ehh!!! and you can NOT turn this "loan shark" deal off its COMPULSORY even though its equivalent to a loan with an APR in some cases in the MILLIONS of a % (no I am not kidding) thats what an interest rate of 70,000% on that 50cents you overdrew? IT GETS BETTER!! NOW they realized they could still use that law permitting them to REORDER the transaction. BUT thats embezlement to alter ones records. THATS where the "pending" came from. by marking it as pending its NOT a full transaction yet. its in LIMBO (like checks clearing) NOW they can do some funny stuff. Let me give you an example. Lets say you go out tonight. You have $60 in your account. You buy a 4 songs on itunes for $1 each (balance $56) you buy a soda from wawa for $2 (bal $54) you get a movie ticket for $9 (bal $45) then you buy a popcorn for $5 (bal $40) On the way home you put $21 in the gas tank (bal $19) Then you pay your charge card $40 (you forgot you only had $19 left) (bal -$21 + 35fee total -$56 in your account) OK How many transactions do we have. 8 You overdrew the account by $21 the bank covers you and pays it for you. They charge you $35 for the pleasure. OK you screwed up you eat it cause they save you from getting $105 in charges from your nearly maxed out credit card. Life goes on you deposit $56+ to bring your account over zero again. All is good in the world again. Well you THOUGHT it was. Problem is you see those transactions are still PENDING and the bank decides $35 fee is not enough. They put your LAST transaction FIRST $40 payment. (bal $20) Then they apply your $21 gas purchase (Bal -$1 +$35 fee) They they appl your Movie Ticket $9 bal -$45 + 35 fee) They they apply your popcorn purchase (bal -$80 + 35 fee) They they apply your Soda for $2 (bal -$117 + 35 fee) They they apply EACH $1 purchase (bal -$155 +$35 +$35 +$35) for a Final Balance of NEGATIVE -$260 NO I am not kidding THEY DO THIS on a daily basis and its PERFECTLY legal. You only overdrew the account by $21 but they were able to EMBEZZLE the money by REWRITING the transaction order from larger to smallest to "maximize" the number of fees they could charge you. In this case thats also why they "covered" the charge payment since it further increases the amount of fees. If it was the ONLY overdraft many times they will bounce it. (depends on the bank) THAT is why debit transaction are marked as "pending" that simple artificial pending statement lets them do this. They make literally BILLIONS each year on overdraft fees. (go look it up will boggle your mind) THEY they have the gal to say well you should have overdraft protection. Thats were racketeering comes in. Both with the "front you" the overage (miro loan) and with the over draft protection (which they ALSO charge for more on that later) If they did not front you the micro loan would you need the over draft protection? If I did not threaten to beat you up would you need the protection services? The first decade PLUS that I had a checking account it worked as it should. I make a charge and if there is not enough money it declines. When wachovia bought first union is when that changed. Overdraft protection used to be a logical offering and it was free. I mean its YOUR money in that savings account right? now they charge between $8 and $12 per overdraft transfer. They got even greedier. It used to be a "set" amount was moved for this $50 or $100 or something like that. NO MORE. Now the PRECISE amount is moved. if your overdraw 8 cents they move 8 cents charge you the fee for doing it. Why? well if you overdraw $25 in 4 transactions and they move $50 they only get ONE fee if they move the exact amount they can charge you 4 fees. See? Its Fraud. Its Embezzlement and its Racketeering. Its quite simple a legalized criminal operation. THAT is why they are marked as PENDING. :-)