12/07/2009
If a check does not have “VOID AFTER” so many days printed on a check, can the check be considered a stale dated check?
11/30/2009
Our bank has several expense checks outstanding that have not cleared. We have contacted some of the vendors to whom the checks were issued, and they have no record of an outstanding balance or of a missing check. Are we allowed to simply cancel the checks and credit them back to the expense accounts from which they were charged? The checks have no notation stating that they are not official checks. I checked this out last year on a couple of these checks, and I believe the answer was no, since they are official checks of the bank and had been converted. It may have been suggested that we have the payees file claims for the lost checks and then remit the funds back to us as credit on our accounts; however, I can’t find my notes on the subject.
08/31/2009
Does a cashier's check ever expire?
01/19/2009
We issue cashier’s checks for our employee benefits and occasionally we have to stop payment on a check for different reasons (duplicates, etc.). If the stopped check has reached the participant and they go to a check cashing mart they can still receive the funds. Once the check is presented to our bank we are out the funds and have no recourse. I was told by a manager in our department that we can not return the checks to the check cashing mart. Do you know why this would be the case? I hate to charge off these types of transactions and feel the bank should be able to recover the funds. Is there a regulation with regards to the fact that it is a cashier’s check?
02/11/2008
Is a bank required to provide money orders for customers? We would like to eliminate them and just sell cashier's checks.
02/05/2007
When can you reissue lost cashier's checks and under what conditions?
10/30/2006
Should a bank always follow the 90 day rule when reissuing a money order that has been lost or stolen?
08/28/2006
Can a certified check bounce?
08/28/2006
We have one issue that needs clarified pertaining to the 90 day waiting period for re-issuance of a cashier's check. The claim becomes effective the later of 90 days after issuance of the official check or the date the claim is made. Does this mean if the customer comes in 60 days after issuance and make a claim, they would then have to wait 90 days from the date of the claim?
08/21/2006
I know you can't "stop payment" on a cashier's check but you can "refuse to pay" if the remitter or payee asserts a claim in writing because the check is lost, destroyed or stolen? Can we charge the customer our Stop Payment Fee of $20.00 for this service or would we have to change our Schedule of Fees to include a "Refusal to Pay" fee before we could charge for this service?