Sunday, April 06, 2008

Banking Mix Up

Checks for deposit to my business need to be made out to the business, or to my late wife, for whom the business is named (it was hers).

Sometimes I get sloppy and try transferring from a personal account with a check made out to me, for deposit in DWA. Doesn't work, bank algorithms block that.

Really OK, as I just rewrite it to DWA instead, which is easy.

I did that recently, netting a $30 penalty from OnPoint, which saw both checks (including the one UBank rejected).

Upon clearing up what happened, I was credited back the penalty.

Lesson: I need to not be so stupid.