the companies shouldn’t have allowed it to happen, JPMorgan was aiding in check fraud
If I’m understanding what happened correctly, this is mistaken.
Banks let you deposit checks, and optionally make the funds available to you immediately because they trust you (sometimes for a small fee).
If you deposit a bad check, pay the service fee, withdraw the amount, and then fuck off with the cash, that’s not a glitch. That’s just you committing check fraud.
Sometimes people NEED to get the cash the same day they deposit the check. This is a legitimate function of banking and we shouldn’t be blaming the company when people take advantage of it.
We should be blaming the trolls who spread this “glitch” and tricked rubes into committing fraud. And perhaps whoever was responsible for raising and educating said rubes.
If I’m understanding what happened correctly, this is mistaken.
Banks let you deposit checks, and optionally make the funds available to you immediately because they trust you (sometimes for a small fee).
If you deposit a bad check, pay the service fee, withdraw the amount, and then fuck off with the cash, that’s not a glitch. That’s just you committing check fraud.
Sometimes people NEED to get the cash the same day they deposit the check. This is a legitimate function of banking and we shouldn’t be blaming the company when people take advantage of it.
We should be blaming the trolls who spread this “glitch” and tricked rubes into committing fraud. And perhaps whoever was responsible for raising and educating said rubes.