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Latest Operations - Cashier's Checks Topics

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?

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?

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?

90 Days to Reissue Check If Foreign Entity?

12/16/2013

We have a client that issued a check to someone in London. The bank in London sent the item for collection, asking us to wire the funds. We do not wire funds for collection so an official check was purchased and sent to what was believed to be their US headquarters. The London office says they did not get the funds and the check has not cleared us yet. Do we have to wait the 90 days to reissue the check since a foreign entity is involved?

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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.

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Charge MMA Per Item Fee?

06/17/2018

Can we charge a Money Market account a per item fee for each item that exceeds the allowable 6 withdrawals per month?

Fed Adjustment for Duplicate Presentment-RDC

06/17/2018

We received a Fed adjustment for duplicate presentment (failure to secure)​ for an RDC item​. ​The item was originally processed by our member RDC (blank endorsement) and​ paid in December 2017. The item was subsequently stolen from his home. In January 2018 a second presentment was made via ATM and now includes a​ third party endorsement . The item was credited to the third party's account​ at the other financial institution of which the payee has no ownership. Do I have any breach of warranty claim (presentment or transfer) against​ either the drawn on bank or the second presentment bank?

Rotate Locks On All Surrendered Boxes?

06/17/2018

When a safe deposit box is surrendered by a customer with both keys returned, should the bank request to have the locks rotated on all surrendered boxes, or just if one key is lost?

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