Vendor Guru Q&A - Operations

Dormant Account Issues and Paper 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?

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?

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.

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

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?

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?

Waiving account requirements can cost you $$$

06/17/2018

Occasionally, we waive some of our documentation requirements if we “know” the customer. Thoughts?

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 parties 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?

CRA Officer Name Required in CRA Lobby Notice?

06/17/2018

Is the name of the CRA Officer required to be present within the CRA lobby notice?

Latest Operations - Check Cash Topics

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