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#1007991 - 07/30/08 03:03 PM Reg CC Hold - NSF Check
Norrie Offline
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Joined: Feb 2008
Posts: 67
If a bank receives an NSF check a second time and wants to put a hold on it, does the hold begin the date the bank receives it the second time?

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#1007993 - 07/30/08 03:05 PM Re: Reg CC Hold - NSF Check Norrie
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
What do you mean "receive"? If you mean that the customer redeposits it, then the hold would start on the day of re-deposit.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1008009 - 07/30/08 03:18 PM Re: Reg CC Hold - NSF Check rlcarey
Norrie Offline
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Joined: Feb 2008
Posts: 67
Yes, that's what I meant. Thank you.

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#1013736 - 08/06/08 04:59 PM Re: Reg CC Hold - NSF Check Norrie
agent99 Offline
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Rlcarey - this may seem like like a stupid question - but by redeposit - you do mean actually physically hit the account? First charge back - debit, then credit - deposit?

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#1014634 - 08/07/08 03:02 PM Re: Reg CC Hold - NSF Check agent99
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
Yes, you would count from the date of the redeposit. If you are not debiting the account on the initial return you most likely should be doing the redeposit under a hold harmless agreement if these are on some sort of automatic redeposit arrangement.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1015116 - 08/07/08 07:12 PM Re: Reg CC Hold - NSF Check rlcarey
agent99 Offline
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Joined: Apr 2008
Posts: 240
Hmmm. I'm not sure what you mean by "automatic redeposit arrangement." Do you mean where the bank has an arrangement with the customer to redeposit items that are returned? We don't do that, but in certain circumstances, the bank may redeposit. I was concerned with the bank's practice of providing a customer with a notice of return and redeposit but not actually having the item hit the account prior to resending. I hope that makes sense.

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