I am wondering if it is against regulations to place a 10-day hold on a check? I always thought we couldn't go past 9 days. Please refresh my memory!
I was wondering if you could point me in the right direction as to where to find more information on compliance for paper checks? Whenever I place a stop payment on a paper check, there's a disclosure that says "this request will expire in 6 months in order to comply with regulatory requirements." For the customers who ask for a more in-depth answer, what can I tell them?
Mutilating the MICR line of a check doesn't help in the Check 21 environment. So what do we do to prevent a stopped check from being presented again?
If we get a claim that one of our cashier’s checks is lost, and pay the claim before we have to, what would happen if the original check shows up and we returned it as a “stopped payment”?
Can a depositor stop payment on a check that overdraws her account?
We missed a stop payment and paid the check two days ago. Can we still return the check?
We have a customer that deposited a check, which we believe to be possibly fraudulent. The check was issued for work in another country and the description doesn't match what the depositor does or the work in the other country. The work is being performed by his girlfriend and we believe the girlfriend is solely on the internet. So there are a number of red flags.
How long does the issuing bank have to return the check to us for reimbursement from our customer's account? Does that time frame differ if the check is deemed to be fraudulent? I have heard up to one year. However, we can't hold the funds that long, or is there a stipulation-reason we could use to hold funds for one year?
If the funds are gone, are we required to return the funds after 90 days? After one year?
We are trying to plan not to get caught having to return $10,000 that we believe to be fraudulent.
We had a foreign check returned to us from the clearing US bank. The date of deposit was June 11 and we are just getting it back more than 4 months later. Are we able to refuse this?
We have been presented a check payable to "Estate of ***** C/O ****'." This is the only check that will be issued in this manner. Could this be deposited into the deceased person's joint account or does an estate account have to be opened? The check is for $12.00.
Can a Treasury check payable jointly (two payees joined by an “&”) be negotiated if one of the payees is deceased, and the executor of his estate is the surviving co-owner of their joint deposit account?