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The client who paid in 47 separate checks to "confuse the bank"
Got a $2,300 invoice settled last month from a guy in Cleveland who mailed 47 checks, each for like $48 and change, all with different memo notes like "for the good stuff" and "please stop calling"... my bank put a 12-day hold on everything and now I just ask for PayPal when he calls. Anyone else ever get a payment strategy that backfired worse than this?
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max_schmidt771mo ago
Buddy of mine had a client do the same thing, but with 30 checks and a note saying "cash these in order". His bank flagged him for structuring and froze the account for two weeks. He still gets twitchy when he hears a check rip.
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coleman.hannah1mo ago
Max, your buddy's story gave me chills, that exact thing happened to my sister in law last year. She had to deposit a stack of small checks from a garage sale she ran for a neighbor, and the teller got all weird about it. Next thing she knows, her entire account is locked and she's getting letters from the bank's fraud department. She had to bring in the neighbor and the sale receipts just to prove it was all legit, took almost three weeks to sort out. What gets me is the bank never explained the rules ahead of time, they just assume everyone knows this stuff. People try to do the right thing and end up looking like criminals, it's crazy.
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