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Originally Posted by faustusmedea
I did the process to set up Rapid Transfer and received my first one today. Frankly the above message is troubling for me. I have run two companies and know a number of company owners and one thing is true in business; when checks bounce there is almost always financial issues at the company. When it first happened in January, the explanations were plausible though never really fully fleshed out. For the issue to arise again just doesn't pass the smell test IMO. My company experienced some cashflow issues and I remember clearly how delicate I needed to handle my suppliers, creditors, etc. after ONE checked NSFed.
So for myself, I have been drawing down my account to limit my exposure (unfortunately limiting the level I can effectively play at as well). I remember clearly getting all of my monies out of Neteller just 10 days in advance of the clusterf$%k that left a bunch of folks unclear about their rolls. It might be nothing at all, but as that wise sage George W says "fool me once shame on you.... fool me.... won't get fooled again...."
Here's the thing... the check didn't bounce. It was deemed counterfeit.. like a fake check. I'm sure other banks might have accepted it as I'm guessing if they ran it through, the money would have been there. I think counterfeit means more along the lines like if a check says it will have a water mark or something and it doesn't. It was a weird looking check as the back had you sign it in the very middle.. never seen that before.