Damn! the bug just bit me in the pocketbook...greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
People of the fourm...double check your bank statements.
I received my December "checking" account statement today from the Credit Union, and tried in vain to balance my checkbook.
Debit card payments that should have been deducted from my account 7-10 days ago have still not shown up. BUT EVEN WORSE: The check numbers were eratic. Bottom line is that they deducted 3 checks from my balance that HAD ALREADY BEEN DEDUCTED ON THE SEPTEMBER STATEMENT! They were deducted 9-13-99, and AGAIN 12-13-99. I am going to have to take time off work tomorrow to take the statements into the CU and go over it with them. I suppose it is a little irritation compared to what I was expecting, but once I heaved a sigh of relief I wasn't ready to have to begin doing battle on such things as this... Later, and Happy New Year folks.
-- Jenny (HomeFor@Good.Now), January 13, 2000
That sucks. I hate banks.
-- Hawk (firstname.lastname@example.org), January 13, 2000.
Don't you answer your e-mail ???? :-)
-- hiding in plain (sight@edge of.nowhere), January 13, 2000.
Jenny...this scenario is the potential killer to this "booming" economy. Millions of people who have to deal with the "minor" glitches of Y2K. Lost productivity at your job and the bank multiplied millions of times will surely threaten this nation with a recession if not something worse.
-- TM (email@example.com), January 13, 2000.
WHICH BANK? (caps in a desperate attempt for self-preservation)
-- Hokie (Hokie_@hotmail.com), January 13, 2000.
Hi ThunderLight! Sorry, been pretty busy lately, but I just sent you a response. Thanks again for the Pemmican recipe, hope all is well for you and yours. :-)
-- Hawk (firstname.lastname@example.org), January 13, 2000.
Thanks for the heads up! Sorry to hear about this "Y2K OK" glitch affecting you - what a pain in the ass - but at the same time I wonder what the impact would be on a business, with the hundreds or thousands of transactions they have per day.
Can you imagine being an accountant trying to do end of month processing [with or without it's own as-yet-unknown glitch] and trying to track down each transaction to get those books to balance to the bank statements? With what little accounting I've done has been a nightmare when many transactions had to be tracked down. (There's a reason I'm an English major instead of an accounting major!)
The point is, having a reliable bank statement is no inconsequential matter. I'd like to hear from some Numerical Maestro out there what the implications are of having both the in-house accounting systems fubared AND a bank statement that has double-posted some transactions and not posted others. I also think I read on another post something about Quicken not being compliant. Lots of businesses depend on the reports generated by Quicken for all aspects of their planning, bad enough. This situation, it seems to me, has some serious and immediate implications.
And you programmers... what kinds of problems are these and what are the implications for correcting the code?
And I gotta say... it's GREAT being back in classes. As a bonus, I've gotten part of my Financial Aid refund, and am expecting the rest next week. We were sure worried about that. Snags with Financial Aid take forever to straighten out under the best of circumstances!
Please keep us posted on how this unfolds, Jenny. I'll be thinkin' boutcha tomorrow!
-- Evaign (glad2Bback@school.now), January 13, 2000.
The banks are 100% compliant. They are a heavily regulated industry and were not permitted to be non-compliant.
If you claim to have received such a faulty statement you are a militia nut!
-- cgbg jr (cgbg email@example.com), January 14, 2000.
Tip of the iceberg. Watch the banks.
All 186,000 of them :o)
-- Andy (2000EOD@prodigy.net), January 14, 2000.
Jenny, you have my sympathy!
I'm glad that you didn't indicate that the double debits didn't result in bounced checks.
We don't exactly live paycheck to paycheck (thank You, God!), but I do keep the bill-paying checking account fairly close to REALLY LOW!
If I'd had a couple of doubles, I'd have checks bouncing from coast to coast!
Can you imagine, if this has happened to you, how many others who use the same CU? Right at the holidays? Rent payments, mortgage payments, utility payments...
Way back about 15 years ago it happened to me, the BANK screwed up, and it was like pulling teeth from a crocodile (look at the size of that thing!!!) to get a letter from them that I could send to all the recipients of rubberized checks. Then try to get them to credit me for the bank charges. I still had to pay the returned check fees that the payees zapped me with, and yeah, I know I should have forced the bank to compensate me, but... HA! They acted like I was lucky they were acknowledging their error.
Needless to say, I quit doing business with them.
-- Arewyn (firstname.lastname@example.org), January 14, 2000.
I always thought that automatic debits from bank accounts were suspect. I guess I'll let my suspicions of them keep active for a few years longer.
-- Wildweasel (email@example.com), January 14, 2000.