Vendor Guru Q&A - Operations

Latest Operations - Cashier's Checks Topics

Check Payable to Business-Convert to Cashier's?

05/26/2019

Can a check payable to to a business ( which does not have an account here) be converted to a cashier's check payable to the same business?

Expiration Period for Cashier's Checks?

10/21/2018

Is there an expiration period for cashier's checks?

Reg CC Hold-Cashier's Check & Personal Check

09/16/2018

Please advise on the following scenario: Customer deposits a $4000 cashier's check with a $5000 personal check (total deposit $9000). This is not a new account and we have no reason according to Reg CC so be able to hold the cahier's check. The teller wishes to place a case by case hold on the remaining $5000 of the deposit. Per Reg CC would she only be able to place a hold for $4800, or could she hold the whole $5000 for two days because she has already released the $4000 due to the cashier's check?

Require Surety Bond if Cashier's Check Lost/Stolen?

06/03/2018

Should we require a surety bond from the customer when they state that a cashier's check has been lost, stolen or destroyed?

Printed "Refund Anticipation" Cashiers Check

03/11/2018

We have several companies who print "Refund Anticipation" checks that have the words "Cashiers Check" at the top. Is there some way that we can put a hold on the check without being criticized by our regulators for placing an improper hold?

Can A Stop Pay be Placed on A Cashier's Check?

01/21/2018

Can a stop pay be placed on a cashiers check?

Stop Payment on Cashier's Check (Non-Customer)

03/05/2017

We had a situation where a teller cashed a check for a non customer that had a stop payment issued by our customer. Teller issued non customer a cashiers check. Can the bank place a stop payment on that cashiers check because there was a stop payment on the check that purchased the cashiers check?

Unauthorized ACH conversions of cashier’s checks

06/26/2016

We paid an ARC entry that was created from our cashier’s check. We’re concerned the original check might also be presented. Can we stop payment on the check?

Replacing "On-Us" Check with Cashier's Check

05/15/2016

If a non-customer brings in an "on-us" check and wants to replace that check with cashier's check, who should the remitter be?

Using Personal Check to Purchase A Cashier's Check

11/03/2014

If a customer brings in a check that is made payable to them and they would like to purchase a cashier's check, is it necessary to have them deposit that check into their personal account first? Then we would do a withdrawal from that account to make the purchase. If it is necessary to deposit it first, and can you please explain to me why?

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Stop Payment on Official Bank Checks

Question: Can you clarify something for me?

Issuing Cashier's Checks to Payday Lenders

Question: We have some payday lenders who present a check to us written by a customer on their account with us payable to the payday lender.

Signature Card Form

10/24/2021

What is a signature card form?

Checkbooks for ‘tweens?

10/24/2021

Our state law permits minors to open bank accounts. Do we have to allow a twelve-year-old to open a checking account?

Affidavit of Forged Endorsement Claim (LNB

10/24/2021

Our business customer (#1) wrote a check to another business (#2) for services rendered. #2 claims that they never received the funds and #1 filed an affidavit of forged endorsement with us. The claim was sent to a large nationwide bank (LNB) where the check was negotiated, in a town located in the same state as #2. The account was opened at LNB using the same established address as #2. We don't know when or if this particular check was part of opening funds. LNB denied our claim due to the established account using #2's business identity. Evidence from LNB indicates the account was overdrawn at some point and then closed by LNB. Do we have the right to then chargeback the funds to our Customer #1; or is LNB required to refund the funds to our bank, based on the claim of forged endorsement by our customer #1?

Entering Customer's Safe Deposit Box- Dual Control

10/24/2021

Is a banker allowed to enter a customer's safe deposit box under true dual control to remove contents and send to the customer with their written request to do so? In this case, the customer is disabled. Our contract indicates it is a single individual's box, but at some point, additional signers were added to the agreement/card. Ownership did not change on the contract to joint. Or shall the bank act as we would in an escheat process, accessing in dual control, documenting contents, and releasing the contents to the State (Colorado)?

You don’t have to investigate all Reg E claims

10/17/2021

Why do we have to investigate all Reg E EFT claims?

Latest Operations - Cashier's Checks Topics

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