Little known gotcha's in life

[Allen]

SO I called the bank again yesterday, and this time their ATM manager actually called me back with "good news". It will be resolved in 2-5 business days.

While I told him to not take this personally, I actually swore in reference to the type of customer service I felt I was receiving. 28 years I've been with this bank and I've started the moves necessary to cut ties with them.

For reference though, 2-5 more business days puts this out to the 20th at a minimum, and the 23rd at the max. While they may like to talk in "business days", I spend money outside of M-F and that means I will be without my deposit 13-16 days. Totally unacceptable customer service, at a minimum.

 

[mikef]

Marriage

 

[db-2]

Allem:
I assume you are with a bigger bank if they can afford a ATM manager.

In the last forty plus years i have been associated with 9 different banks, all small town with the owners living in town.
I can say with 99% certain that once they got the checks out of the machine they could of then completed the deposit in this day and age with electonic equipment. If not, a call to whoever to get the checks rewritten or have that place by the phone transfer funds.
It was up to your bank to take care of this.

So now after 28 years it is totaly acceptabale even if it had only been one day of being with them.
Yes, it is time to move but if the move is to a corp. bank do not expect it any better. db

- - - Updated - - -

Allen:
to update.

When one deposits checks into ones account as a deposit the bank takes the numbers off the bottom and then runs it by phone.
The bank then takes that check you deposited and puts it in the vault and after 6 months sheds that check themselves. The deposited check never leaves your bank.
So if they could still read the numbers (routing, account number and amount) that is all they needed to make your deposit good. If they can not read a call will confirm those numbers.
At least that is how it is handled at the banks I have had a relationship with and all banks do it the same. db

 

[BrokenBackJack]

It is not the cash rent we are so much worried about either. We are more interested in IF he is going to rent or in all reality, if the bank will let him rent. Delay that too long and you need to find someone else to rent. Not my idea of fun.

I hear what you are saying. One way is to call your renter and ask him about payment and if he says the bank is holding it up tell him you NEED a call from his banker confirming this. We had to do this one time with a prior renter and the banker called us right away. You then can ask the banker how long before you can expect your money and what is holding it up. Is it the virus thing or is the renter in financial trouble?
Springs work is going to be late and if you have to sit without someone farming it for a year or have to find a renter quickly and they need to get more operating money it can get hairy. Don't be afraid to ask your renter these questions. It is good business and if it bothers him find another renter. Renting out farmland isn't a difficult task as most want more land.
We also have told both of our renters that our contract isn't cut in stone so if something comes up where payment won't be on due date to let us know, and do it much sooner than the due date and then we can discuss when payment can be expected and let it slide if need be. If you don't let us know and payment isn't made on time they risk losing the farm land. The current renters know where we sit and they are calling or texting how things are going all the time. We work with them and they work with us. Just have a good relationship with each other and be honest and upfront and we all get along fine. Business is business and you have to be aware of what is going on.
I sat on quite a few boards back in the day and i always told my friends that friendship ends at the doorway. If they come before the board i will rule by the way the laws are written and friendship has nothing to do with it. As a person renting out land or whatever it is the same thing.

 

[Ristorapper]

He showed up yesterday with check in hand. Said bank gave him a line of credit to pay land rent. He still wasn't able to meet with the banker IN the bank; guess all these SBA loans going out. So 16 days late but better late than never. He ended up leaving 40 acres of wheat on the land at the end of the year last year that he couldn't get at. We feel bad for him and family. Such a beautiful crop last year and all the hassles with the weather. Hopefully better times ahead.