Man Charged $23 Quadrillion For Smokes

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BigJimW

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I work for Bank of America in the Online Banking department and would have loved to see what type of effect being negative over 23 Quadrillion dollars would have done to the display of the website.

Next thing I would do is waive the overdraft fee and tell him about Overdraft Protection. :D

Kidding aside though, the bank gave his money right back. Obviously a processing error. I see these all the time, but not to this massive extent. Something like this, the bank would not even question it, as this guy would owe more to BofA than the entire banks (or planets) net worth.

Must be good smokes though. LOL
 
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jebjr

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I work for Bank of America in the Online Banking department and would have loved to see what type of effect being negative over 23 Quadrillion dollars would have done to the display of the website.

Next thing I would do is waive the overdraft fee and tell him about Overdraft Protection. :D

Kidding aside though, the bank gave his money right back. Obviously a processing error. I see these all the time, but not to this massive extent. Something like this, the bank would not even question it, as this guy would owe more to BofA than the entire banks (or planets) net worth.

Must be good smokes though. LOL
How could a charge that big get approved?
 

BigJimW

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How could a charge that big get approved?

Sometimes an approval can slip through the Visa system even if there are not enough in the account to cover it. Contrary to popular belief, many purchases do not look at the available balances when the purchase is rung. People knew this and used it to take advantage of it by spending the same $20.00 twice until a recent change to the Visa system rules stopped a lot of people from "playing the system" by placing a hard hold on the funds at time of purchase and most times, people got hit with overdraft fees and suddenly wondered why. However this case is different than other purchases, and had it been any other type of purchase, the Visa system would have stopped it cold and the bank would have outright rejected it even if it had slipped through the Visa system.

In this particular purchase, he bought his cigarettes at a gas station, easily going through VISA and the bank. The purchase would have placed a $1.00 hard hold on it until we get the purchase settlement. All gasoline station purchases work this way. In this case, either someone screwed up at the register or the VISA system barfed out the $23 Quadrillion dollar settlement. Unlike the $1.00 authorization hold at the time of purchase that Visa and the bank could have rejected had the purchase actually ran for the $23 Quadrillion dollars, the collection settlement has to be processed, as authorization to the merchant was granted during the initial purchase. When the settlement finally came to to the bank to be collected, it was for $23 Quaderillion. All without even looking at his balances. It was more than likely computer error, however if it were human error, it may have been someone keying in a terminal ID at the place of sale not knowing they were altering a purchase dollar amount.

I think he should have opted for cash back. :D
 
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