My checkcard was compromised and while waiting for the new one I went to Wal Mart to buy some groceries. The bill was $41.46. Declined by TeleCheck for little to no check history.
TeleCheck updated my personal information and told me to wait 24 hours and try again. Still declined.
I haven't used checks on this account until I moved to Houston last year and had to order them since the apartments only accept check or money order for payment. I've been writing checks for rent for almost a year now, none have bounced. Of course, they don't use TeleCheck.
I wrote one check to Wal Mart the day my checkcard was cancelled for $10.00 and was approved. Two days later I tried to get the aforementioned groceries and was declined.
My bank informed me that they have had the same problem with TeleCheck and there was nothing the bank, merchant or consumer could do about it. My bank told me it can take up to six months before TeleCheck will update its information and approve a check because TeleCheck uses their own metrics to determine your worthiness to be trusted. My bank strongly suggested I don't shop at any locations that use TeleCheck, so I don't anymore.
Not to mention that if you call TeleCheck, they are outsourced to another country and ask you for your driver's license and full social security numbers, address, and bank account and routing numbers. Things no company should be asking for.
Monetary Loss: $15.