Sunterra...cheque kiting like there's no tomorrow...and got caught
Just before Christmas I deposited a bunch of cheques through a banking app. I got errors saying the amounts entered don't match the cheque amounts for every single one except for the last cheque. On that one I didn’t get any errors, but of course the amounts were wrong. FML. I tapped a 3 instead of 6 and it was deposited for $300 less.
I immediately emailed the bank and told them the mistake. Their reply was basically nothing can be done, it's too late, contact your customer to let them know.
I was basically on holidays already, so it took me until about January 10th to tell the customer about the mistake. I apologized and asked them to cover the difference when they have a chance.
Last Friday I got an email from our bank telling me that the mobile deposit was rejected by another financial institution due to an incorrect deposit amount, so they debited our account for the entire amount. Say what??? The customer never did reply to me, so I assume that they put a stop payment on the cheque so itwas withdrawn. Or did their bank do something else? This was done five weeks after it was deposited so I don't understand how that is allowed to happen. The amount deposited was smaller than the cheque amount, but I suppose that makes no difference.
As an aside, I did find out that all cheques through theor app are verified by a human.
For the Sunterra kiting, that is an obscene amount of transactions and dollars to process. I’d like to know how much manpower it took to make and track the payments. It's practically an internal Ponzi scheme.
Last edited by bob-loblaw; 02-06-2026 at 11:16 PM.
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