Stop Payment Legitimate? It Depends
Originally Posted by gregorygrady
(Post 20816353)
Citi got me too, and even went above and beyond the call of duty and closed all 6 of my Citi cards in the process. :( Worse yet, those ba$tard$ put a stop payment on a ~$2k mortgage check that had been deposited 2 weeks earlier. I can halfway understand them thinking that they can confiscate (per the T&Cs) TYPs where the CC statement hadn't closed yet so they hadn't posted to one's TYP acct.
Worse is that they are confiscating people's TYPs that had already posted to the TYP acct................ that is over the line IMHO. But it is COMPLETELY over the line for them to put a stop payment on a mortgage check that they issued weeks earlier when the TYP acct was in good standing. I HIGHLY urge everybody who has had their TYPs confiscated to file complaints with the appropriate regulatory agencies, BBB, and even try to go to the press (Travel Omsbudman writers such as Joe Brancatelli, Chris Elliott, Linda Burbank, etc). Enough complaints and hopefully at the very least they will be required to pay us back for our already earned TYPs. It really just seems completely wrong that they think they can confiscate already earned rebates from our credit card purchases. Not to mention the bait and switch that they employed by baiting us with 5x rebates and then subsequently shutting down all our Citi accts. But that last one is probably a bit harder for us to prove than the clear as daylight confiscation of already earned TYPs. That must be against some type of banking regulations I would think, so please if you got hit by Citi, FILE THOSE OFFICIAL COMPLAINTS ASAP!! You will be doing all the rest of us a favor in the process! My understanding is that after a check has cleared, a stop payment for it can't occur. See the following for more information: http://www.bankersonline.com/forum/u...Number=1298881 |
Originally Posted by glxpass
(Post 20816905)
Can you please give a more precise timeline for the clawback on your mortgage check, such as the date deposited and the actual date the stop payment was issued? For example, a check could take several days to clear, and notification of a stop payment could have been received a few days after the stop payment occurred.
My understanding is that after a check has cleared, a stop payment for it can't occur. See the following for more information: http://www.bankersonline.com/forum/u...Number=1298881 |
Did you get any detailed explanation for the closure or just standard blanket legal statement?
Originally Posted by Happy
(Post 20816551)
How did you find out? Your bank informed you the check was returned?
Can check be bounced several weeks later after it is cleared? Almost all banks Personal Account Agreements said the customer cannot place a stop payment once the check is cleared (paid, or drawn on the payer's bank.) May be the Corporation's Bank Account Agreement has different provisions. Though it is so wrong that Citi does this. They confiscated my points earned from Premier in 2009, 2010 and 2011 and closed all 8 cards. I would venture to guess among all the known cases, i am the one who spent the least on the EDS. Heck, my 1st statement after retention offer was $569. So they obviously is using the "for any reason" in the TY Program rules in the broadest meaning in this process to wipe out high account balances regardless how the points were earned. |
Lord Giveth, Lord Taketh Away
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Originally Posted by compddd
(Post 20813640)
You're better off closing all your cards since Citi uses the nuclear option when their Eye of Sauron decides to rest it's gaze upon you.
Anyway my citi statement cuts today. Aint seen nuthing change yet... but am waiting. My hope is to catch it the moment any points post --if they do. And if they do, I plan to cash em for air travel ASAP. then, once I know it is all in airline land and completely done, I go to a branch and cancel this preferred card and ask them to give me the other 5x citi TY card. I'll maybe even tell them something like, "I was reading on some travel blogs that Citi is closing this card and I don't want to be erroneously closed down--you know how things like that can sometimes happen haha--so please switch it to the other..." I have no idea how long it takes TY points to post after a statement cuts. My newest US Airways statement cut last night and the miles for it were there this morning (and maybe last night--I didn't check). Does anyone have any idea how long from when your CC statement closes the TY points show up? |
Originally Posted by Marathon Man
(Post 20817993)
that's a great description hahaha
Anyway my citi statement cuts today. Aint seen nuthing change yet... but am waiting. My hope is to catch it the moment any points post --if they do. And if they do, I plan to cash em for air travel ASAP. then, once I know it is all in airline land and completely done, I go to a branch and cancel this preferred card and ask them to give me the other 5x citi TY card. I'll maybe even tell them something like, "I was reading on some travel blogs that Citi is closing this card and I don't want to be erroneously closed down--you know how things like that can sometimes happen haha--so please switch it to the other..." I have no idea how long it takes TY points to post after a statement cuts. My newest US Airways statement cut last night and the miles for it were there this morning (and maybe last night--I didn't check). Does anyone have any idea how long from when your CC statement closes the TY points show up? |
Originally Posted by Stoughton
(Post 20818004)
For me, it was as soon as the CC statement posted to my account.
Then for me it is a matter of hours or something... seeing as how today IS the 27th... |
...then again even though yesterday was a Sunday, today IS a holiday so maybe it wont post yet? Now there's talk of my family visiting grandma's house so I expect right round the time I'm having tea and crumpets I'll find my fate of citi lol
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Originally Posted by Marathon Man
(Post 20818023)
Thanks.
Then for me it is a matter of hours or something... seeing as how today IS the 27th... |
Originally Posted by silver6054
(Post 20818063)
I've found that Citi site updates around 1:30-2am ET, so early tomorrow morning. Sometimes it takes several more hours for the points to be redeemable on the TY account, but the point total (if any!) will be there.
cheerio! :D |
Can someone post a petition site against Citi for what they're doing?
I read in the Newspaper that some kid got 63,000 signatures against Abercrombie, and it forced a meeting with the CEOs and him. Just a thought. Class action is another thought. |
Originally Posted by PointsforHolidayBoy
(Post 20818315)
Can someone post a petition site against Citi for what they're doing?
I read in the Newspaper that some kid got 63,000 signatures against Abercrombie, and it forced a meeting with the CEOs and him. Just a thought. Class action is another thought. change.org is one... and then there was some guy who went after wells fargo years ago for something. Not GCs or PPs lol. Look that up. There are a few sites but dont know how effective they are. Also class action and media may be solutions but often times they wash it all down. Sadly these often have to be dealt with on a case by case basis with you against them in court... and the judge will NOT want to hear about "other people" so if the other side tries to bring up FT, you could argue they cannot in a way. |
Originally Posted by PointsforHolidayBoy
(Post 20818315)
Can someone post a petition site against Citi for what they're doing?
I read in the Newspaper that some kid got 63,000 signatures against Abercrombie, and it forced a meeting with the CEOs and him. Just a thought. Class action is another thought. Now, get a prosecutor to start a criminal RICO case! That's the way to go.... |
Originally Posted by silver6054
(Post 20818342)
("Tens of thousands of dollars purchase per month at drug stores? Is this a normal person?") and we don't get much sympathy.
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Originally Posted by Marathon Man
(Post 20818370)
thats what the general public would think of us if this hit the media... but you all know how I feel about the use of NORMAL person and GAME the system as badly used and undefinable terms. We followed their T&Cs
which is why I think a petition wouldn't likely work. Your sour grapes comment applies to the general public! |
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