RCK IT Adjustments and a Reminder to Check Your Statements

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It’s been a long time since I found something funny on a statement, so long that sometimes I feel like even a quick scan of my statements is a waste of time. However, it just takes one strange charge to remind you how important it is to review your statements each month and to never waver. Banks do a great job of stopping fraud and so it’s very easy to become complacent. Thieves love complacency!

Just a few weeks ago, I was looking through my Bank of America statement when I saw this little gem:

The fact that it says RCK IT ADJUSTMENT made me think that it was some official bank business but nothing about it indicates that it was one. So naturally I assumed fraud. I called Bank of America and the CSR on the phone had no idea what it meant. She passed it onto “Research,” who called me back the next business day. It turns out it was an official adjustment by Bank of America and it was for a deposit I made a few weeks earlier. It turns out the check I deposited was already deposited. I tried depositing that check online, with both Ally Bank and ING Direct, but they both told me that the check had been voided already. Anyway, long story short, we now know it’s not fraud (good), my friend gave me a messed up check (inconvenient, no big deal), and I wasn’t charged any fees (good).

Looking back, there were a few questions…

First off, why can’t things be more descriptive? It’s like we built this awesome incredible service on a rotting core of a system so that we still have line items that are as useless as “RCK IT ADJUSTMENT.” All I know is that it’s an adjustment, I don’t know what RCK IT is but a brief search online yields nothing except this post about an RCK EE Adjustment (what’s cool is he went to Carnegie Mellon too!) but no details other than he’d be getting a letter.

Second, even if there is no description on the line item itself, at least have something on the Bank of America homepage that tells me what these random line items mean. If it’s a bank initiated transaction, explain what it could possible be. Bank of America could, on the screen, provide more information since they are the ones who made the adjustment even if they didn’t want to publicly disclose every line item. Anything is better than what they had.

Fortunately, it wasn’t fraud. I didn’t have to cancel my card or change account numbers (and numerous bill pays) and all is well. Just a little reminder that doing these little checks and scans is worth it.

{ 9 comments, please add your thoughts now! }

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9 Responses to “RCK IT Adjustments and a Reminder to Check Your Statements”

  1. Shirley says:

    Very good advice, Jim, and a great example! I agree that codes need to be more descriptive and/or there should be a link available to explain what they mean. RCK is obviously Returned ChecK but I doubt that IT means Information Technology. 🙂

  2. admiral58 says:

    Yea, it would be nice if technology actually worked in our favor vs. us working against the technology.

  3. I always check my statements against my records and I uncovered some major credit card fraud before my credit card company did. If I just set the bill on autopay and didn’t check my statements I would have been out over $3,000!

  4. Jim says:

    Yeah, RCK appears to have been Returned Check, I would guess IT might mean it was reported by an automated system? Who knows. 🙂

  5. Sadie says:

    In past year on my credit card statement a $4.95 charge from a major vacuum cleaner company appeared.

    Brought it to attention of the credit card company and it was reversed after investigation.

    Investigation revealed this was supposed to be billed as an ongoing monthly charge to me from a company I have never bought any item.

    It truly does pay to verify even small charges and dispute for resolution.

  6. Mike says:

    Insult to injury: My wife has a tendency to not deposit checks even though I have volunteered to take over paying bills now that I am no longer working and she is. She also holds off paying bills to the point of notification from Master Card, etc. I explained that it no longer makes any difference now that interest rates are so low. The biggest insult was when I received a $1.79 payment for a company’s stock that claimed bankruptcy. I received a $15 charge notice from my bank for nonpayment of this $1.79….the reason was my wife deposited the check three days after the “deposit by date”!!! So I was screwed several times! A bankrupt company stock, a pitence payment and a $15 charge for a late deposit!

  7. swiss says:

    I found this post from a Googe search on RCK EE ADJUSTMENT. I have a $3300 charge marked with the same thing — I cannot get through to BoA because it is Sunday. What WAS this charge for? I understand it wasn’t fraud but what was it???!!

  8. swiss says:

    Follow-up for anyone in this same situation. I eventually went through Bank of America’s Lost/Stolen/Fraud departmet ad they looked into it. The RCK EE ADJUSTMENT was that a check I had written 1 week ago had been put through incorrectly for like 10 cents. They were putting through the check again, hence the $3299.90 RCK EE ADJUSTMENT. How this happened? Keying error, they said.

  9. Theresa says:

    Thanks for the article. This just happened to me and had no idea what it was. Turned out, I had tried to deposit a check that I recently deposited through mobile banking.

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