Skip to content
BOL Conferences
Thread Options
#2116954 - 02/03/17 06:06 PM Reg. CC - Reasonable Cause Hold
TeamComply Offline
Platinum Poster
Joined: Aug 2016
Posts: 543
Called to verify funds on a cashier's check and paying bank indicates check "might not clear"??

This is sufficient info to place an reasonable cause hold?

Return to Top
Deposits and Payments
#2116959 - 02/03/17 06:18 PM Re: Reg. CC - Reasonable Cause Hold TeamComply
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,393
Galveston, TX
What do they mean "might not clear"? The only scenario that I can think of that would cause a cashier's check to not clear is if the FDIC came in and closed the bank at 5 o-clock tonight. Otherwise cashier's checks are guaranteed funds.

Now, if they said they never issued a check with that check number for that amount or the payee you provided is not the payee of record, then you should be sending the person down the road.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top

Moderator:  John Burnett