Big Banks Refusing to Verify Cashier’s Checks
Answer by David Dickinson, BOL Guru Guru Bio
Question: I thought that Reg CC required banks to provide a phone number or other means to verify a cashier's check issued from their institution. How can some of the larger banks refuse to verify their cashier's checks, especially since there are so many fraud schemes using counterfeit cashier's checks?
Answer: Banks are not obligated to verify checks. It's not good service and "what goes around comes around". I've told clients for years to not verify their checks when they call you. If the smaller banks all band together and do this, the big banks may have to rethink their ways.
Your other option is to refuse the check or place it for collection. This will most likely upset your customer. If you explain why, maybe the customer can have some influence at the larger bank.
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