Are there any risks for a financial institution if we accept a check from a client for deposit to their savings account and the check is payable to our
financial institution, instead of making it payable to the account holder?
Our customer mobile deposited a check with their signature endorsement along with a restrictive endorsement of "mobile deposit only [FI name] [date]".
The customer then scratched/crossed out the restrictive endorsement and negotiated the item a second time. We were charged back on the mobile
deposit. I understand we did not process the paper check, however the restrictive endorsement was on the mobile deposit and later scratched out.
Do we have any recourse back to the second bank to recover funds?
If a person is deceased, can we deposit a check made out to that persons Trust in one of his other accounts that is in a joint name with the deceased
and the successor trustee of his trust, or how does this item get cashed?
I have a question about check endorsements. For example, assume a check is made payable to John Doe. Mary Doe brings in check to cash and endorses it
John Doe by Mary Doe. John Doe doesn't appear to be our customer. We have no way of knowing if Mary Doe has authority to sign for John Doe. Should this
check have been cashed?
We were notified by a customer on September 27, 2019 that there are 72 POS debits totaling $1,373.01 from PlayStation on her account that she did not
authorize. Since Visa will only allow us to go back 120 days for disputes, how much of these transactions is the bank responsible to refund to the
Can a check made payable to a individual be deposited into a account titled in their living trust. Please help settle this dispute.
Our bank has several MSB check cashing customers. On occasion, an MSB customer will inadvertently cash an altered check, which eventually is deposited to their account at our bank. When our bank receives an affidavit of alteration from the paying bank, is it permissible to debit the MSB customer's account for the claim amount since they are the ones that "cashed" the check, or would our bank be responsible for paying the alteration claim?
My bank has received a counterfeit check from a depositing bank. Our customer called the day the check cleared his account and we returned the check to the Bank of First Deposit on the same day as reported.
Who will take the loss on this item, the BOFD or my bank? And should we treat this as a fraud/ disputed item ?
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?
Should the owner of a sole proprietor business account cash checks made payable to him personally using the business account?