The bank overdraft scheme — Totseans

The bank overdraft scheme

muffinsmuffins Regular
edited June 2011 in Man Cave

Comments

  • AzureAzure Acolyte
    edited July 2010
    lol...4 srs?
  • muffinsmuffins Regular
    edited July 2010
    Azure wrote: »
    lol...4 srs?

    yep, but be prepared for dbt collectors and to be in https://www.consumerdebit.com/consumerinfo/us/en/index.htm database for like three years i think. but thats why you made the 5th account to have a good, working account to use for a few years
  • DaSkipperDaSkipper Regular
    edited July 2010
    What do you need in order to create bank accounts?
  • AzureAzure Acolyte
    edited July 2010
    :facepalm:
  • DaSkipperDaSkipper Regular
    edited July 2010
    Azure wrote: »
    :facepalm:

    SOOOOORRRRYYY.

    I just never had a bank account.
  • wasjoshwasjosh Regular
    edited July 2010
    You can open some over the interwebs with just your basic info, and by mailing in some cash.

    For good (or bad if you will) overdraft plans you'll want to choice one of the banks listed above.


    Spicy guide, I'd attempt if I wasn't on my 5th checking account/bank already. :)
  • CrazzyassCrazzyass Regular
    edited July 2010
    DaSkipper wrote: »
    What do you need in order to create bank accounts?

    Then maybe this one just isn't for you...but so you know, it'll require your driver's license and a deposit.
  • CrazzyassCrazzyass Regular
    edited July 2010
    This sounds damned good. I might do this soon. What legal ramifications are there, if any?
  • muffinsmuffins Regular
    edited July 2010
    Crazzyass wrote: »
    This sounds damned good. I might do this soon. What legal ramifications are there, if any?

    1. Reporting to credit agency ( not all do this)
    2. Being entered into chex systems database
    3. Calls and or letters from bank or debt collection agencys


    Check your local laws to be sure if there are any others. The bank is extending a loan of unsecured debt when issuing an overdraft. Treat it as such. This plan works well as someone usually pulls variations of it each year around christmas time.
  • CrazzyassCrazzyass Regular
    edited July 2010
    muffins wrote: »
    1. Reporting to credit agency ( not all do this)
    2. Being entered into chex systems database
    3. Calls and or letters from bank or debt collection agencys


    Check your local laws to be sure if there are any others. The bank is extending a loan of unsecured debt when issuing an overdraft. Treat it as such. This plan works well as someone usually pulls variations of it each year around christmas time.

    Okay, gotcha. But you aren't legally obligated to pay it back? And how severely does it affect your credit rating, if you know?
  • fanglekaifanglekai Regular
    edited July 2010
    Ruining your credit score for $2000 doesn't seem very profitable. If you need to get a bank loan in the future, shit like this will make it very difficult. Same with applying for credit cards, etc. I'd think the banks would have some legal recourse to get their money back, whether it be through repo agencies or the court system.
  • muffinsmuffins Regular
    edited July 2010
    fanglekai wrote: »
    Ruining your credit score for $2000 doesn't seem very profitable. If you need to get a bank loan in the future, shit like this will make it very difficult. Same with applying for credit cards, etc. I'd think the banks would have some legal recourse to get their money back, whether it be through repo agencies or the court system.

    yes it affects your credit, I had terrible credit from overdrafts and a car repo but was still able 1 year later to get an amex card. as far as legal stuff goes they can get a coolection agency after. like a said check up on the laws. sacm works and this is bad ideas so thats why its here
  • fanglekaifanglekai Regular
    edited July 2010
    muffins wrote: »
    yes it affects your credit, I had terrible credit from overdrafts and a car repo but was still able 1 year later to get an amex card. as far as legal stuff goes they can get a coolection agency after. like a said check up on the laws. sacm works and this is bad ideas so thats why its here

    Some bad ideas are good ideas in disguise. Some aren't. This one is iffy, but if it works without legal repercussions then I'd say go for it.
  • wasjoshwasjosh Regular
    edited July 2010
    fanglekai wrote: »
    Some bad ideas are good ideas in disguise. Some aren't. This one is iffy, but if it works without legal repercussions then I'd say go for it.

    We ain't got those debtor prisons here yet. If they yet you spend 50g without paying them, that's their bad.


    That's what I'd like to know, with less than a few grand I'd be able to set shit straight, especially if I don't have to pay it back(gambler disillusion, I don't play the odds though). Too easy.
  • muffinsmuffins Regular
    edited July 2010
    wasjosh wrote: »
    We ain't got those debtor prisons here yet. If they yet you spend 50g without paying them, that's their bad.


    That's what I'd like to know, with less than a few grand I'd be able to set shit straight, especially if I don't have to pay it back(gambler disillusion, I don't play the odds though). Too easy.

    I keep forgetin this is an international forum man. debtors prison, LULZ . but yeah shit works brah and like you said sometimes a couple grand is all ya need to get shit goin.
  • zerozerozerozero Acolyte
    edited July 2010
    I have a little experience with this. If you have a job, and a bank account, and If you also have direct deposit (it's really not that much of that uncommon is it? lots of corporation work and shit offer this feature), and also a debit card or checks, you can overdraft quite a bit of money and just leave it until your next check is deposited. I used to do this quite a bit. The negative balance would float in the system for a while (sometimes up to 2 weeks) and nothing would happen in between the period of negative balance and when I got my check.


    I'd overdraft by taking 100 dollars out of the ATM. That was my withdraw limit. I'd then go into the bank and withdraw my entire paycheck directly from the cashier, this would leave me with 100 more dollars then I actually earned. Sometimes, I'd even use a third ATM type source to withdraw another $100+ dollars. This would leave me with another extra $100+.

    I did get a letter from a collections agency once when my balance was around -$250. I told them I'd pay them on payday, I did, and they where cool with it.

    Anyway, that could be an extra $200 in your pocket on payday if you do it right. Not a LOT, but whatever.

    Protip: If you work at a business that still uses standalone credit card scanners which print out a receipt and is then placed directly into the till to keep track of credit payments, depending on circumstances (don't be fucking stupid) you can use this as a source to withdraw lots of extra moneys to spend, if you don't mind over drafting like a mother fucker.

    Alternately you could do this after any large deposit.

    Writing bad checks is also an option if you don't have a debit card.

    Make sure you think this shit thoroughly before you do it you fucking internet mother fuckers. It all depends on circumstances, you don't have to follow my exact plan but you can use the concepts in it to achieve something similar.
  • brutusbrutus New Arrival
    edited July 2010
    muffins wrote: »
    yep, but be prepared for dbt collectors and to be in https://www.consumerdebit.com/consumerinfo/us/en/index.htm database for like three years i think. but thats why you made the 5th account to have a good, working account to use for a few years

    Most banks will close your account regardless of standing if you're in chexsystem. This idea is terrible, considering you get fucked for credit, hounded by debt collectors, and you're fucked for opening bank accounts.

    And you said later you had horrible credit, but you were able to get an amex card, so what? Credit cards are easy to get, and don't help your credit much at all. Car loans, home loans, large loans help your credit showing that you can pay back large amounts of money, show you're not a risk. Not that you can get a credit card, while you may be able to get that, you'll get denied for a car loan in instantly.

    Just a bad idea imho.
  • Dumpster SlutDumpster Slut Acolyte
    edited July 2010
    this is just a plain bad idea
  • GreenbullGreenbull Regular
    edited July 2010
    This is a pretty bad idea. Your credit is worth more then 2k.
  • ToothlessjoeToothlessjoe Acolyte
    edited July 2010
    This is a pretty awful idea.
  • ShadyLadyShadyLady Locked
    edited July 2010
  • VermicideVermicide Regular
    edited July 2010
    Probably not worth it for the hassle you would get.
  • AzureAzure Acolyte
    edited July 2010
    this is just a plain bad idea
    Greenbull wrote: »
    This is a pretty bad idea. Your credit is worth more then 2k.
    This is a pretty awful idea.
    ShadyLady wrote: »
    This! If your credit is already fucked then it's one thing but it's not a good idea to fuck a good score for $2K. Credit is essential in getting car loans, a mortgage, etc. And it takes a long time to rebuilt credit.
    Vermicide wrote: »
    Probably not worth it for the hassle you would get.

    no wai u guise r FUKN stupit
  • TripsitTripsit Semo-Regulars
    edited July 2010
    I feel like the amount of risk involved in stealing from a bank in such a way, way out weighs (no pun intended) the profit. Regardless if you have a solid identity to use, your still subjecting yourself to further investigation. Which will include all kinds of investigation of the checks you would more than likely hand write, and the locations of which you do so. If you were to do it online, You've got to think what sort of tracing is legally available, then think of the power of a multi-billion dollar corporation and what they would do to protect their assets. They'll find you, and financially destroy you.
  • ocelotocelot Acolyte
    edited June 2011
    This is only a bad idea if you give a shit about your credit. A lot of people would ordinarily never use a bank for anything at all. They keep their cash with them, they pay for everything with cash, and they will never have any interest in getting a loan of any sort and don't own anything the bank could take away. This is a pretty good idea for druggies or someone that just needs the money real fast, though a lot of the details have been deleted.
Sign In or Register to comment.