Skip to content
GeoDataVision
Learn More - Click Here!

Thread Options
#2196055 - 10/22/18 03:07 PM Substitute Check and Charge Backs
Likes to Comply Offline
Diamond Poster
Joined: Nov 2008
Posts: 1,060
In the mountains
Is it permissible to hold back from providing a substitute check copy for a charge back if the customer's account is overdrawn due to the charge back?
_________________________
Always learning something new...

Return to Top
Operations Compliance
#2196062 - 10/22/18 03:29 PM Re: Substitute Check and Charge Backs Likes to Comply
Likes to Comply Offline
Diamond Poster
Joined: Nov 2008
Posts: 1,060
In the mountains
Also, if a check must be returned by 2:00 pm on the 2nd business day following the banking day on which the check was presented to the paying bank, what good is the notice of nonpayment for checks in the amount of $5,000 having the same deadline. Doesn't this mean we would get both in the same day?

I am not strong in this area so I think I must be missing something.

One more question. If a hold is placed on an account due to receiving the nonpayment notice but the charge back is done the same day, is it necessary to complete a Hold Notice to send to the customer?

Thanks in advance.
_________________________
Always learning something new...

Return to Top
#2196289 - 10/24/18 01:46 PM Re: Substitute Check and Charge Backs Likes to Comply
Likes to Comply Offline
Diamond Poster
Joined: Nov 2008
Posts: 1,060
In the mountains
If anyone could provide any guidance, I would really appreciate it. I asked this question back in 2014 and no one answered me then either.
_________________________
Always learning something new...

Return to Top
#2196299 - 10/24/18 02:48 PM Re: Substitute Check and Charge Backs Likes to Comply
HappyGilmore Offline
10K Club
Joined: Jun 2004
Posts: 19,535
Pulling people out of the ditc...
if you are rejecting a deposit to the customer accounts because it is NSF, how is your customer supposed to get paid by the person who wrote them the check if you don't give them the check, or a substitute copy of it, back?
_________________________
Providing alternative truths since the invention of time

Return to Top

Moderator:  Andy_Z, John Burnett