There’s an interesting little item that is popping up in bank registers across the nation. It has been for a long time, but there does not seem to much discussion over it on the internet. I am not here to condemn or endorse it just to shed a little illumination on it.
This transaction is almost exclusively an ACH debit labeled NAS-COAL. A quick google will return a plethora of contradictory information and a link to the wikipedia page on the National Archives of Scotland. Much of the info on NAS-COAL is missinformation or speculation spread out of ignorance or inept research. The Scots aren’t scamming us. The NAS just happens to be a similar accronym.
I am a signer on an account that was recently accosted by one of these NAS-COAL withdrawls and as is my duty as a caregiver I contacted the bank to find out exactly who was charging money from this account. What it turned out to be this time was a “seemingly” valid, court ordered amount. The validity of the court order is a subject for a different article in the nature of a rant. Never the less, it was not a scam perpetrated by an Etheopian prince.
Although the employee was very helpful at Chase, they did not know EXACTLY what NAS-COAL stood for as an accronym. The best I could get was that COAL stands for Court Ordered Action/Levy and that NAS is not an actual organization in this instance, it is an accounting label. The National Archive of Scotland is not involved in these collections.
What this actually means is that, a US court has ordered a lien against your account for repayment of a judgement. What you need to do is call the banks legal department and provide your verification and find out exactly where this money is going. The NAS-COAL transaction could be going anywhere. All it means is that the bank is complying with a court order.
If you bank with chase the information I received from their customer service rep for contacting them is:
Chase legal 866-578-7022 mon – fri 8 am 10 pm sat 8 am 8 pm sun 9 ma 5pm
Chase customer service 800-935-9935 (should be) 24/7