Tesla check for trade-in bounced

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#1
I'm absolutely blown away that an almost $8,000 check from Tesla bounced when I deposited it. I had traded in my car, signed the title over to Tesla, and 4 weeks later I have a bad check from Tesla. I have never had a check from a company bounce, especially not for an asset which I have provided to the company. Ridiculous.
 

Gatornail

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#4
If I remember correctly, a while back there was someone on this board that had that happen. It turned out that Tesla uses a small specific account for certain items like trade ins and sometimes they’ve gotten behind with the paperwork and the account was overdrawn. Perhaps it’s happened again (mainly seems to happen when they have end of quarter pushes I think.)

Please note I’m not defending Tesla, it’s a terrible thing to have happened to you, just trying to explain that it’s not necessarily indicative of Tesla running out of money or going bankrupt or anything.
 

MelindaV

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#5
I'm absolutely blown away that an almost $8,000 check from Tesla bounced when I deposited it. I had traded in my car, signed the title over to Tesla, and 4 weeks later I have a bad check from Tesla. I have never had a check from a company bounce, especially not for an asset which I have provided to the company. Ridiculous.
why did they cut you a check for a trade-in? typically the trade-in value comes off the new car price. or are you saying the check was to your prior car's lien-holder if it wasn't paid off?
 
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#6
If I remember correctly, a while back there was someone on this board that had that happen. It turned out that Tesla uses a small specific account for certain items like trade ins and sometimes they’ve gotten behind with the paperwork and the account was overdrawn. Perhaps it’s happened again (mainly seems to happen when they have end of quarter pushes I think.)

Please note I’m not defending Tesla, it’s a terrible thing to have happened to you, just trying to explain that it’s not necessarily indicative of Tesla running out of money or going bankrupt or anything.
I agree. It's a pretty absurd thing though for a public company to be bouncing $8000 checks.
 

Bigriver

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#9
The bright side of this is that you got the check in only 4 weeks. I’ve had 2 instances when Tesla owed me money and it took 3-5 months to get it. Of course, getting a bounced check can be even worse than no check. I hope they fix this for you ASAP, like yesterday. I so love Tesla products but so hate that they can’t get some things like this right. Go into an empty room and scream your head off, then get into your amazing car and enjoy every second of it.
 

RonAz

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#10
I traded in or sold a one year old car. All of the money came off the purchase price. A separate check???? hummm
 
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#11
The bright side of this is that you got the check in only 4 weeks. I’ve had 2 instances when Tesla owed me money and it took 3-5 months to get it. Of course, getting a bounced check can be even worse than no check. I hope they fix this for you ASAP, like yesterday. I so love Tesla products but so hate that they can’t get some things like this right. Go into an empty room and scream your head off, then get into your amazing car and enjoy every second of it.
Don't get me wrong - I love the car. But yes this is basic execution that's just absurd and inexcusable.
 

JasonF

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#12
Companies often draw checks out of an account that has exactly enough in it to cover the checks. Mostly to prevent theft.

It might not be their fault entirely - could be their bank is holding transfers for a certain time, and the checks cleared before then.
 
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#13
Companies often draw checks out of an account that has exactly enough in it to cover the checks. Mostly to prevent theft.

It might not be their fault entirely - could be their bank is holding transfers for a certain time, and the checks cleared before then.
Fair point. Would the check then eventually clear? And the rejection is just temporary?
 

Bokonon

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#16
If I remember correctly, a while back there was someone on this board that had that happen. It turned out that Tesla uses a small specific account for certain items like trade ins and sometimes they’ve gotten behind with the paperwork and the account was overdrawn.
Good memory! Yes, there was a prior report here of a Tesla check bouncing. The check was for a whopping $86 in excess DMV fees. o_O

In this case, my guess is the same as yours... It was drawn on the wrong account. Yes, this shouldn't ever happen... but it totally did. :confused:
 

SoFlaModel3

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#18
Unlike us individuals, companies generally print checks along with the MICR line so it’s most likely a clerical error with the check being cut out of the wrong account.

That said — stupid mistake and a bad look.
 

lance.bailey

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#19
Unlike us individuals, companies generally print checks along with the MICR line so it’s most likely a clerical error with the check being cut out of the wrong account.
Perhaps, but the MICR encoding uses a special ink. You can buy mag ink for MICR encoding, and there are MICR printers out there, but that is expensive and if you print an entire cheque in mag ink some MICR readers will mis-read the cheque so to be safe you end up running the cheque through one printer for MICR and a second for non-micr (text and such).

It is possible that the wrong sheet or the wrong tray was used to print the cheque, which ended up the wrong account being drawn.

Point of reference, i've been printing my own cheques for 30 years, i order blanks (3/sheet) with nothing but the MICR on them. Something like this, but with a MICR line:
computercheques-png.27895


Other possibilities (one per sheet and so on) are used more my businesses, I just needed the max number/sheet as the cost is better for me.


and the end of the day though, having you 8K cheque bounce is a crappy introduction to the tesla family.
 

SoFlaModel3

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#20
Perhaps, but the MICR encoding uses a special ink. You can buy mag ink for MICR encoding, and there are MICR printers out there, but that is expensive and if you print an entire cheque in mag ink some MICR readers will mis-read the cheque so to be safe you end up running the cheque through one printer for MICR and a second for non-micr (text and such).

It is possible that the wrong sheet or the wrong tray was used to print the cheque, which ended up the wrong account being drawn.

Point of reference, i've been printing my own cheques for 30 years, i order blanks (3/sheet) with nothing but the MICR on them. Something like this, but with a MICR line:
View attachment 27895

Other possibilities (one per sheet and so on) are used more my businesses, I just needed the max number/sheet as the cost is better for me.


and the end of the day though, having you 8K cheque bounce is a crappy introduction to the tesla family.
Agreed could easily also be pre-printed stock with the wrong MICR line. Same story — bad mistake, but no the company isn’t going under :)