Recovering Money

Posted By: Jenny Roberts

Recovering Money - 03/12/20 01:25 PM

We have been contacted by another bank stating that a fraudulent check was deposited by one of our customers last month. We placed a hold on the check when it was deposited and the check cleared like normal. The bank it is drawn off of is now asking us about recovering any of the money with a Hold Harmless form. Does our bank have to act on this hold harmless form?
Posted By: rlcarey

Re: Recovering Money - 03/12/20 01:59 PM

Have to? No. Have your legal counsel review it.