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.
02/04/2002
When a customer is purchasing a cashier's check, is it best to have the customer make their check payable to the bank or to the person in which the cashier's check will be payable to?
02/04/2002
Someone printed counterfeit checks using our routing number and our customer's account number. They wrote a check and signed our customer's name. They deposited it into a account at another bank using one of their customer's names. They deposited part of the money and received the rest in cash. We returned the check to the bank as a forged instrument with a signed affidavit from our customer (because they signed his name to the check.) The bank of deposit refuses to return the funds to us saying that it was not returned through Fed during the 24 hr. time frame. We sent a certified letter to them with the affidavit and a copy of the check (the District Attorney kept the original). All of this was done the day after the check was presented to us from Fed. Who is liable?
02/04/2002
We post our checks in check # sequential order. In the following example: A customer has an account balance of $100. Check #200 for $150 and check #201 for $25 post. Both items will be considered NSF. If we return both checks, could this be considered a "wrongful dishonor" since technically there is enough funds to cover check #201? And futhermore, if we decided to pay check #201, but return #200--do we need to waive the "NSF paid fee" for check #201?
02/04/2002
I have an attorney that would like me to set up a joint checking account for married customers of his who each have their own irrevocable living trust. This did not seem possible to us, so we set up the account outside of the trust format. He is telling us it can be done. Technically I believe I found this could be done by also using a Tenants in Common format, however it would put the bank at risk as we are not capable of individually policing their checks to make sure that they both have signed the checks appropiately. We've basically determined this is not the type of account that we want or will open. Are we correct in this assumption or is there another way to achieve what the Attorney is telling us we need to do?
01/07/2002
Does a late return apply to checks on first presentment or can they claim late the second time it is being presented?
01/07/2002
How do you calculate the last digit in a routing number - using the fraction in the top right corner of the check?
01/07/2002
When a check is payable to two parties without "and" or "or" written on it, do I need one signature or two?
01/07/2002
If we suspect a customer kiting. How long can we put a hold on checks being deposited. Does it matter if they are local checks or non-local checks?
01/07/2002
In the following situation, who is liable? A corporate customer found unauthorized checks in their statement. The checks were "signed" with a signature stamp and stolen, but the company did not know this. All of the checks were cashed at the bank following appropriate procedures to check identity.