So I got an extra checking account

[xSauronx]

Originally posted by: mofoe2001

Call me ignorant but why would this be fraud?

youve already had reasons given. and im calling you an idiot, again, because you cant comprehend them. idiot.

 

[narzy]

Originally posted by: mofoe2001

Originally posted by: xSauronx

Originally posted by: mofoe2001
sorry i obviously suck at writing. hahah

This car loan is from a different bank. I wanted to pay off this loan with this secondary checking account.

oh dont get me wrong, im not looking to put these charges and forget about it. ill still make my monthly payments. im just hoping it would be interest free.

you're a god damn idot

if you're going to call someone an idiot, at least spell it right.

He was trying to dumb it down to your level, figured the 'extra' i there would throw you off...Personally I am surprised he decided to use a compound word in that sentence...

 

[El Guaraguao]

Ok im not going through with it. thank you for comments, both negative and positive. ill be a man and admit this is a stupid idea. im just going through some rough times at the moment.

 

[waggy]

Originally posted by: mofoe2001
come on, you gotta give me some credit. I consulted with Anandtech before i pulled such a move.

Call me ignorant but why would this be fraud? im not looking to overdraft the account and let it sit there. ill make my payments.

why would it be fraud? because idiot you do not have 11k to back up the check.

not to mention do you reallly think that the bank will LET you bounce a 11k check? unless you are bill gates its not going to happen.

say they have a brainfart or are as idiotic as you and do it. what makes you think they won't A) charge you a hell of a fee EVERY DAY, B) call the cops or hell both? NO matter that you are paying monthly.

 

[narzy]

for more win, check out his sig link, on second though don't.

 

[rudeguy]

Originally posted by: mofoe2001
Ok im not going through with it. thank you for comments, both negative and positive. ill be a man and admit this is a stupid idea. im just going through some rough times at the moment.

The key is to not add to future problems.

 

[rudeguy]

Originally posted by: narzy
for more win, check out his sig link, on second though don't.

the ironing

 

[Casawi]

Trying to payoff a car without having money in the bank? hoping to only be charged fees ? non sense, nothing is free !

 

[El Guaraguao]

Originally posted by: rudeguy

Originally posted by: narzy
for more win, check out his sig link, on second though don't.

the ironing

har har

:\

 

[mugs]

I swear this is a repost.

 

[ViviTheMage]

Originally posted by: mugs
I swear this is a repost.

someone else tried to pull something like this and posted asking about how to do it .... so repost? haha

Originally posted by: mofoe2001
come on, you gotta give me some credit. I consulted with Anandtech before i pulled such a move.

Call me ignorant but why would this be fraud? im not looking to overdraft the account and let it sit there. ill make my payments.

because your checking account is not a loan...that would be like me overdrafting my mortgage 100k and making payments...and only expect them to let me have it interest free.

 

[Injury]

Originally posted by: mofoe2001
come on, you gotta give me some credit. I consulted with Anandtech before i pulled such a move.

Call me ignorant but why would this be fraud? im not looking to overdraft the account and let it sit there. ill make my payments.

What do you mean "Make your payments"... an overdraft is NOT a loan, it's the bank taking responsibility for your fuck up, and the fees you pay them aren't interest, it's a PENALTY. And PURPOSELY writing bad checks is a FELONY. It's not like you're going to write a check for $11k when you have $0 in there and just walk in every week on payday and be like "oops lol sorry forgot I was a few bucks short here's $100 get the rest to you later."



The problem here is that you obviously tried thinking.


The most ridiculous part of this post is that some fucking idiot out there gave you a loan for more than tens of thousands of dollars for a car not knowing that you're too fucking stupid to understand basic personal finance issues.


For the record:
- No account at a bank or credit institution is EVER closed until you have a dated letter stating that it has been closed.
- Overdraft protection does not translate to "FREE LOANS LOLOLOL!!!" it's a service designed to retain customers who can't manage their money quite well and think it's the bank's fault that they go charged $30 for spending a little bit too much money on crap they probably didn't need.
- The bank is not stupid enough to process a transaction 11k in the hole and the attempt/account will probably be immediately red flagged and sent to the fraud division.

 

[Juked07]

Shens...

 

[SmoochyTX]

Originally posted by: mofoe2001
come on, you gotta give me some credit. I consulted with Anandtech before i pulled such a move.

Call me ignorant but why would this be fraud? im not looking to overdraft the account and let it sit there. ill make my payments.

:laugh:

 

[isekii]

why not just go to the bank and get a cashiers check and pay off your car that way

 

[SmoochyTX]

Originally posted by: isekii
why not just go to the bank and get a cashiers check and pay off your car that way

Because he doesn't actually have the money. He thinks the bank would let the overdraft of $11,000 go through and he could make payments to them as though it were an interest-free loan. LOL

 

[murphy55d]

I remember ONE TIME I accidentally overdrew from my checking account, and it was only for like $25, that alone racked up about $80 in fees for NSF and overdraw fees.

You can't be serious in doing this.

 

[waggy]

Originally posted by: murphy55d
I remember ONE TIME I accidentally overdrew from my checking account, and it was only for like $25, that alone racked up about $80 in fees for NSF and overdraw fees.

You can't be serious in doing this.

my wife is terrible at doing this. one time she bounced a check (thought we had another 300 in it) wich caused 4 small ones to bounce. the bank took pitty on us and errased the charges (wich would have been $125).

after that i put in a extra $600 so we have a cushin. its not put in the quicken and we do our best to forget its there.

 

[Injury]

Originally posted by: mofoe2001
It went through!? So yea, a couple months ago I had some ad company get a hold of my primary checking account and they started pulling $20 a month out of it without my consent. I call the company, they issue a refund and go to my bank and ask them to close that primary account and create a new one. I told the rep that I wanted to keep my debt card and link it to the new account.

So shes on the computer, she DOESNT shut down my primary account at the moment and opens a new checking account. she tells me my bank card is linked to this new account and not to mess with the primary account for it will shut down in a week or so. So I did what she said. I never touched that primary account and a week later I go to the store and buy some stuff and got insufficient funds. I just got paid that week and deposited my money in my new account. so i go online to the banks website and notice i STILL have my primary account with my bank card still linked to it as well as my new account.

so for the past couple months ive had 2 checking accounts. my career is based on the housing market. we all know how that is going so in the past 2 years, ive been laid off twice. today is my last day of work and im trying to catch up on my bills.

now, my question is. i have a car financed. I wanted to know if I can pay off (11k) using this extra checking account to have a interest free somewhat of a paid off car. because like I said in the begining, I paid off my premuim car insurance off with this account. oh and it has no money in it. so itll go through with a 1 time over draft fee per transaction.

yay or nay?

I just wanna quote the OP in case he tries to edit this out.

 

[mryellow2]

And people wonder why we're having economic troubles...

Never underestimate the stupidity of the average American.

 

[BTA]

I think the problem here is that you're an idiot.

 

[Special K]

First of all, I couldn't figure out what the OP was even talking about until I read other poster's explanations further down the thread.

Second, attempting to use an overdrawn checking account as an interest free loan has to be one of the dumbest financial ideas I have ever read about.

Third, you should post this on the Fatwallet Finance message board to get a second opinion