Returning Funds For Unused Official Check - John Burnett

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Returning Funds For Unused Official Check
by John Burnett, BOL Guru
BIO AND CONTACT INFO

Question: When a customer purchases a certified check or an official bank check and the check is made payable to a third party, what should we do if the customer decides not to use the check? How can the funds be credited back to the customer? Can the customer write on the back of the check "not used for intended purpose"?

Answer: That's the route we've taken. We have the customer put that wording on the back of the check, then endorse it for deposit and we handle as a single-item deposit back to the customer's account.

First published on BankersOnline.com 08/4/03

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