from my bank at all, but a memo from first chicago bank dated june 5. it was my first piece of the puzzle of how this whole thing could have happened.

the memo, which had the amount of my check on one line and the word "non-negotiable" circled on another, had a name and phone number for an account adjuster on it. i decided to call him. (as my brother says, "more information is always good.")

i reached edwin mickley, the man who had written the memo. i told him who i was and why i was calling. he explained that the memo i now possessed was the notice of dishonor that he had sent to my bank about the $95,093.35 check. on the same day that he sent the memo, his bank also reclaimed $95,093.35 from my bank.

"so my bank is out the money?" i asked.

"yes," he said. "all the other banks involved have recovered their money."

suddenly it dawned on me: this memo was dated june 5. that's the day my bank learned that the check had been dishonored. why had first interstate waited until june 21 to notify me of the problem--especially since, by law, they were supposed to notify me by midnight of june 6!

no doubt about it now, my bank had made a big mistake. and they had faxed me a memo to prove it.

at the end of the conversation, edwin did me another big favor. he obliged my request for the names of the other banks involved. he didn't even mind telling me whom i should talk with and what item number i should reference.

i called the other banks involved, and soon learned the details of the entire fiasco. i had deposited the check on friday, may 19. on monday, may 21, it was overlooked by my bank and sent onto the bank in chicago that was acting as a clearinghouse. it was again overlooked there. the next day, on may 22, it was sent to the federal reserve bank in cleveland, and this bank rejected the check, calling it a "non-cash" item. (take note that the federal reserve bank rejected the check within 48 hours after it left my bank.) the check was then routed to the get-rich-quick company's bank in cleveland. the cleveland bank says it sent a notice of dishonor immediately to the bank in chicago. i cannot confirm when the cleveland bank actually sent its notice of dishonor, but i do know that the bank in chicago sent my bank a notice of dishonor on june 5.

i made this entry in my journal:

"the bank knows they made a big mistake. but instead of calling me and explaining their mistake, they called and bullied me with scare tactics, 'banking' on my being ignorant and fearful. apparently, they feel they're powerful enough to avoid admitting to their mistakes and powerful enough to deny me even the right to fair treatment, refusing even to send me a letter about this. i don't think they're that powerful."

july 6 arrived. i had an obligation to call robert gage at first interstate bank security. but i had not returned to san francisco as i'd originally planned--and i was not planning on giving the money back when i did return.

it was the hardest phone call i've ever made in my life. i put it off all day, until 10:30 at night. then it took me a full hour to psyche myself up enough to be ready. my godson, a twenty-two-year-old college senior, and my mother sat across the dining room table in silent support. i called gage and informed him that i knew the laws that entitled me to the money. i told him i resented being treated like a criminal, when i hadn't even spent any of the money. and i demanded a letter from the bank, officially requesting the return of the money.

gage did not threaten me this time - he said he'd get me the letter, and try to unfreeze my bank account.

end of part iv

part v: beating fear!

patrick combs is available as keynote speaker for your next event. let him inspire your audience with the story and discussion of his $95,000 adventure. he is also the author of major in success: make college easier, beat the system & get a very cool job (ten speed press). all contents on this page ? 1995, by patrick combs. all rights reserved. http://www.goodthink.com

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$95,093.35 adventure, part v henry bailey

after i returned to san francisco, i didn't hear from first interstate bank. no phone calls and no letters. each day i expected to receive an official letter from the bank, but nothing arrived.

my curiosity drove me back to the law library. this time i was determined to read and understand the big book, brady on bank checks: the law of bank checks by henry bailey and richard hagedorn. and this time, determination (or coffee) made the difference, because i knew what i was reading. i was reading a lot of laws, in black and white, that gave me a legal right to the money.

i photocopied like a madman. i copied the midnight law, finality of payment and court case rulings that held it illegal for a bank to cancel a cashier's check. then, just before my brain went to mu