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#2063337 - 02/09/16 07:25 PM Check Cashing for non customers when its on-us
Cornfed Turtle Offline
Diamond Poster
Joined: Mar 2006
Posts: 1,323
"...Somewhere in Middle Americ...
OK Iowans....I'm heading to the code again. Any of you know off the top of your head if there is a reason we can't charge a fee to cash an on-us check for a non-customer? (I have a few in my own mind, but I'm looking for some actual code.) We have customers that are businesses writing payroll checks to employees and construction companies writing checks to subs. These recipients of the checks do not bank with us, but come into the branches to cash their checks. To fee or not to fee?

So happy to have you stop my searching!

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#2063417 - 02/10/16 12:17 AM Re: Check Cashing for non customers when its on-us Cornfed Turtle
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,628
Galveston, TX
I assume you are not a national bank??
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#2063448 - 02/10/16 02:21 PM Re: Check Cashing for non customers when its on-us rlcarey
Cornfed Turtle Offline
Diamond Poster
Joined: Mar 2006
Posts: 1,323
"...Somewhere in Middle Americ...
Correct assumption....hence my frequent travels to code.

I haven't found anything in code or admin code that would prevent us from charging a fee. There are some other state-specific posts about employers needing to provide a free means of cashing payroll checks. I can't find anything about that in code either.

I still don't like it as I'm not convinced that we will apply the fee consistently. I don't think my opinion counts for that on this issue, but I will voice it nonetheless.

Any thoughts are always appreciated.

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#2063477 - 02/10/16 03:45 PM Re: Check Cashing for non customers when its on-us Cornfed Turtle
ahkcompliance Offline
Diamond Poster
Joined: Sep 2008
Posts: 2,470
Midwest
I can't tell you if it is specifically addressed in IA Code but we do not charge for on us check even if the payee is not a customer. We have addressed in in past years and we have always concluded on is that we feel it is our obligation to honor the full amount of the check for our customer.

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#2063767 - 02/11/16 01:36 PM Re: Check Cashing for non customers when its on-us ahkcompliance
Cornfed Turtle Offline
Diamond Poster
Joined: Mar 2006
Posts: 1,323
"...Somewhere in Middle Americ...
Thanks for your thoughts, ahk. I expressed an opinion here and we'll see how it goes.

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#2070146 - 03/21/16 01:39 PM Re: Check Cashing for non customers when its on-us Cornfed Turtle
ComplyGuy Online
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Joined: May 2015
Posts: 247
We are looking into the same thing. How is your bank thinking about going about it? Will you be charging all non-customers that are payees cashing on-us checks? Also, would you be disclosing the fee?

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