Vendor Guru Q&A - Operations

Electronic Management of SAR Files

Latest Operations - Check Cash Topics

Use Border Crossing Card to Cash a Check?

12/31/2017

Can you use a border crossing card to cash a check?

Forged Check Return Timing

08/09/2015

I've seen lots of discussion about forgeries discovered weeks or months afterwards. This one is at the other end of the spectrum. Stolen check with forged drawer signature is deposited at depositary bank on Thursday morning. Customer gets e-mail alert on Friday morning (check triggers overdraft protection). Customer comes into the branch, we pull check image, all agree that it is an obvious forgery, and customer IDs the forger. Customer needs to leave but returns mid-day after completing forgery docs (affidavit,etc.) Customer now claims that our (drawee) bank had sufficient notice to return the check to the depositary bank by the midnight deadline or otherwise take action to prevent the loss. The forger withdrew the proceeds from the depositary bank on Monday. Does the customer have a valid argument? Currently trying to determine if the ball got dropped at the branch level. (side note, not part of this question-- we think the customer was careless with his checkbook-- our defense.) The check was well over the $2,500 threshold.

Example of Why Not to Cash Checks Made to Bank

07/19/2015

I am looking for a good example of why we don't cash checks made to the bank. We require it payable to cash or to themselves.

Cashing Check Payable to Individual/Business

01/20/2014

Can a check made payable to an individual or business be cashed?

Check Cashing at the Machine

07/20/2004

A credit union in Utah is offering its members check cashing at its automated teller machines.

Non-customer Check Cashing

07/20/2004

by Barbara Hurst, BOL Guru

Next Time, He'll Go to a Check Casher

07/20/2004

The bank in Saginaw, Michigan evidently had a 'no non-customer cashing policy', and when the 35 year old man tried to cash a check payable to him, they refused.

Cashing Government Checks for Noncustomers

01/05/2004

Currently my bank will cash a government check...both federal or state, for non-customers. We have lost a considerable amount of money by providing this service. My questions: (1) Is there a requirement that we cash government checks for non-customers? (2) When a customer opens an account for the purpose of having an account in which to deposit a government check, can we require that the check be set up on direct deposit? Customers will open an account, deposit the check, cash the check and then close the account. If the deposit was made directly from the government we would waste far less time and money opening accounts for one day.

The New Bank Branch Is?In With A Check Casher?!

11/01/2000

Market driven challenges are making strange allies of traditionally sworn enemies.

Inner City Banking

02/01/2000

Union Bank of California and leaders in the check-cashing and community service industries in Los Angeles have put together a venture that will provide financial services to underserved neighborhoo

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Proposed Transaction Tax

Question: We're getting more questions from our depositors about the proposed "Transaction Tax." What is it all about, and have you any idea what we should tell them?

Garnishment/Levies-Verify No Other Accounts

04/21/2019

We have a question on garnishment/levies. If we receive one do we need to verify they do not have other accounts with the bank or does it go strictly off the account number in question? We have a trust department, wealth management area, etc.

2019 Legal Alert: Bank ADA Lawsuits Mount

04/21/2019

How many banks have been sued under the ADA in federal court in 2019?

Reg CC reasonable doubt holds

04/21/2019

When our tellers are unsure about a check drawn on another bank by an unfamiliar business, they usually try to verify the check by phone before accepting it for deposit. They are frequently told by the issuing bank that the bank doesn’t verify checks. Is it OK to place a “reasonable doubt” hold on these unverified checks”?

Misleading Collection Scripts Cost Financial Institution $28.5 Million

04/21/2019

In its $28.5 million settlement with Navy Federal Credit Union (NFCU), the Consumer Financial Protection Bureau (CFPB) stated that NFCU's collection letters contained material misrepresentations – or unfair or deceptive abusive acts or practices – that were likely to mislead consumers; how did NFCU's templates violate UDAAP?

Can a bankruptcy trustee receive electronic copies of checks?

04/21/2019

Do we have to give paper checks and paper statements on bankruptcy accounts?

Latest Operations - Check Cash Topics

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