04/01/2002
Please cite the UCC rules, and/or regulations that explain our responsibility and liability as a bank regarding the negotiation of checks made payable to a business.For example:Mr. Smith makes a check payable to Hannah Plumbing.Joe Hannah wants to cash the check or deposit it into his personal account saying that he is the owner of Hannah Plumbing.
03/11/2002
At what point does an official check become stale? Or is it negotiable forever?
03/11/2002
We are going to introducing added benefits to one of our existing Senior (50+) Accounts, therefore creating a new account that will be charged a monthly maintenance fee of $4. I've been asked to consider issuing a direct mail letter to our existing account members and include a "live check" of $5. Once they cash the check then they would automatically be enrolled in the new account. My question is this -- has anyone done this? Did customers think they were getting something extra, or did they think the bank was trying to pull a fast one on them? Personally, I do not want to do a live check mailing, especially since most customers do not read the enclosed material and we are talking about an older generation -- they are more likely to cash the check without realizing the consequences.
03/11/2002
If a cashiers check has been obtained with a fraudulent check and a stop payment has been placed, is there a time limit for returning the cashiers check?
03/11/2002
I have read several questions and answers on your Web site about the mandatory cashing of U.S. Treasury checks. Is it still permissable to turn down a non-account holder's request to cash a U.S. Treasury check? Secondly, if we adopt a policy to cash checks for nonaccount holders, may we charge a fee, and are there any privacy issues if we ask for a form of identification, as long as we do not share any information?
03/04/2002
A customer came in saying an Official Check was stolen from her house. What is the best way to handle such a matter. The individual was given the check by a bank customer. She is not a customer.
03/04/2002
What are the rules for paper drafts on customers? When we filed checks we were able to verify authorization to pay or not pay. Now, with imaging and telephone authorizations, this isn't possible. Will the bank lose the money? How can this be avoided?
02/11/2002
I am trying to find where in PA Law or UCC it is documented that a Bank is not to cash a check made payable to a corporation. It must be deposited. I have found reference to UCC 3-307 regarding fiduciary duty. Please let me know as soon as possible.
02/11/2002
What must a resolution include for an unincorporated association, also for a corporation.
02/04/2002
Is a bank required to rerun a dishonored check? We received a check back today for the first time for NSF. We want to debit the payee (our customer) because she has the funds today.