Yep, I have time to THINK about Stuff and right now since my bank took on a dispute I have with them regarding the Gouging of Gas Bills, they have given me back the $194 that So Gas Co took from my account thru auto pay. Now I don't believe the bank is feeling sorry for me and where does that $194 come from, the bank's huge slush fund? as I'm thinking so much money in the banks are unclaimed funds from people's accounts who have died and the money was not claimed... How about that one? Agree with this thinking? Since So CaL got their money from my account my gut tells me the bank won't go after the gas company for the funds to be returned......
Do you know how banks work? Very simply put, people make deposits and the bank pays them interest. The bank then uses their depositor's money to make loans and conduct business with other customers... charging them more interest than they are paying on the deposits. So there's no big secret about where the bank's money comes from. As far as your dispute, if the bank finds there was no fraud involved they very well might re-charge you the $194. They usually just refund the amount until the dispute is settled.
I have not gotten a lick of interest from my bank in decades...... The old days YES but recent times, not my bank. And it will be interesting if I'm re charged the money. I still like my theory on the bankers...the bank had the money "in pending" mode and they removed "pending"....so as I see it, they've put the money back in. And as far as the dispute, I can imagine how many 1000's of disputes are going on out there....CA folks have gotten the royal screws..... And yes Beth I know how banks "work"...thanks., And I heard many yrs ago there are millions of unclaimed dollars out "there ". My money given back to me is a drop in the bucket for the banksters... "
The banks only refund your money if they collect it from the other party or it was a fraud and their insurance then reimburses them and may or may not go after the fraudster. Unclaimed money is usually from coops or deposits refunded that was never claimed. You can google your or your parent's name and see if any unclaimed funds are out there. There is still unclaimed money in my folk's name, but it is considered an investment in a still-operating coop and I couldn't get it even though it should be mine. Don't fall for those schemes that will find unclaimed money for you for a fee. They may find it but you can't get it without hiring an attorney. You are just out your money to them.
I searched for Unfound Money once, and of all the stupid things, there was a $100 Allstate Insurance rebate check out there...must have been some class action lawsuit or government regulatory fine. The really dumb thing was this happened in the mid 90s. I started with Allstate in 1972 and have never had another insurance carrier. And I had been at the same address since 1978. So I had been their customer for 25 years residing at the same address for nearly 20 years at the time, yet that check never found its way to my mail box...I had to go stumble upon it. Regarding banks: I believe there is a process for abandoned deposits. And if it's from an unclaimed estate, the government will confiscate it...do you really think politicians will let anyone else keep that money?
A couple of times in my life, including just last week, I have gotten unclaimed funds returned to me by the state, never for a whole lot of money. Usually, I think, these are balances left in bank accounts that have been forgotten. Rather than having everything in one bank, I've always had two or three different banks or credit union accounts, and there are times when I think the balance has gone down to zero so I don't bother closing them officially, and there might be some money left in them. Last, week I got a check for $30-some odd dollars from the state for unclaimed funds and it didn't even tell me where it had come from, although it was probably an account I had up north when we were living near the camp for about a year.
All I can say, the bank has deposited the money back in my account, there is no fraud issue going on but a Gouging issue on Californians from t he Gas Co. You can find all kinds of info out there on this. CA is gouged or I should say charged higher costs than most of the country....we pay for the Good Weather is what I've always said, but this ONE incident is out of Sight.
I've read horror stories of California taking monies from people on shaky pretenses 5 years after they've left the state. The obvious thought is that people will just let it go rather than expend the effort fighting a long-distance battle to get their money back...ad the dollar amounts seem to be calculated so as to drive a "may as well let it go" decision. California politicians want to make living in the state so untenable that they drive enough people away so as to depress real estate prices for their friends to snatch up...then the abuse will stop.
There is also the fact that, using tax and federal funds rather than money they have worked for, state officials will willingly spend $10,000 to steal $100 from you. There's no end to the money they can put up against you and they'll do it, if only to scare the next guy away from fighting them.
If you had authorized the gas company to take your payment from your account, and you used the gas that you were billed for, then you owe that money. The fact that utilities are "gouging" is not the bank's issue to resolve.
Oh crap, Beth, my money has been coming out for years...and all has been Fair....don't you see what I'm saying here and what people are g oing thru....So Cal answering No Phones,e tc. etc.....Wrong wrong of them and the cockameanie reasons given for the increaes....war in ukraine....B.S. Lies and wanting to make some fast profits befoire Warm weather sets in...my gas bill for most months is $20 to 30.....
Joy, I totally understand your frustration with the increase in gas costs and your inability to get the utility to answer their phone, but it's still not the bank's problem to solve. You can dispute the charge but as soon as it is determined to be legitimate they will likely reinstate the charge. Can you not go to the gas company in person? Do you know how to read a gas meter? I can check my own meter readings to see if I'm being overcharged for some slouch not reading my meter correctly. I hope you can get this worked out, but I still say it is NOT the bank's problem. Good luck.
My bank is involved as I got them there....they are involved. And no I don't read meters, I'm not a meter reader. And what a foolish comment, I'm the customer. I swear Beth you are rooting for the gouging Gas Co and putting blame on me and others. geeeeeeeezzzzz This is the FIRST time this happened, and you keep wanting to blame others than the gas hogs...and continue to make it as thou it's my fault for the increases...
I'm not "putting the blame on you" at all; just trying to tell you that a high utility bill is not the bank's problem. If the bill is in error, the gas company should make it right. If the usage is correct and the rate has simply increased that much, then you owe it--end of story. Since you don't want to hear any suggestion from me, I'll leave you to it. Good luck.
@Joy Martin I think you are misunderstanding what Beth is saying. It is apparent to me they misread your meter. My expenses have all gone up and some have doubled. I would say you must request that your meter be checked and re-read. I have had this happen before and then the next month my bill was way low to adjust. Yes, prices of everything are going up but your gas company is regulated by your states utility commission and they cannot make such an outrageous increase. Have you checked with neighbors to see if they were also insanely overcharged? Hopefully maybe when your bank contacts your gas company, they will come out and check your meter. Prehaps you have an underground leak. I would sure do whatever to contact the gas company and check with neighbors. You need to see a print out of the bill to check usage.and see if they raised the rates and how much. My big concern is you may have an underground leak. if the meter shows to be correct and your usage is extremely high. I wouild certainly seek help from someone that could check this out for you.