11/05/2001
We have a checking customer who signed affidavits of forgeries for 29 checks totaling $935.00 that were cashed at Foodtowns. In the Police Report the customer states that an unknown person entered apt. possibly with a key and removed personal check form the kitchen shelf. Customer stated that he kept checks on the kitchen shelf visible to anyone who enters the room. Do we have to reimburse the customer?
11/05/2001
When answering a recent question regarding cashing corporate checks, Mary Beth Guard, indicated she did not advocate exchanging corporate checks for cashier's checks. She indicated "that course of action is fraught with potential pitfalls". Can you elaborate on the pitfalls? It is a common banking practice to issue teller's checks (cashier's or officialchecks) in lieu of corporate checks. The teller's checks are made payable exactly as the original corporate checks . The corporate checks are stamped with an endorsement "official check issued in lieu of this item" along with the official number. Thanks for your help in clarifying this matter. I would much rather hear the pitfalls from you rather than a judge!
11/01/2001
Question: I write corporate platform procedures and would like to know if you have any Regulatory information concerning "Late Return Claims" or "Claim of Delay"?
11/01/2001
Question: A bank can't help a customer who won't help himself.
11/01/2001
"Public reporting and recordkeeping burden for the form is estimated to average 70 minutes per response, and includes time to gather and maintain information (for) the required report, review the i
10/01/2001
A commercial customer of ours discovered a counterfeit check in their statement and we sent it back to the bankthat deposited it within 30 days. The depository bank is refusing to charge their customers account for it because it is over 24 hours later. We sent it back refer to maker in lieu of original. This item is not only a forged signature, which in my understanding we have a year to return, it is also a counterfeit. Do we have a right to return this item? Should the depository bank charge the account that it was deposited in?
10/01/2001
I just finished reading your article on depositing checks payable to corporation into personal accounts. Can you give me an opinion for the bank's Check Cashing customers depositing checks payable to other businesses? These are checks that the check cashing business cashed for someone unknown to the bank.
10/01/2001
When opening a Sole Proprietor checking account I am used to having only the owner being able to cash checkspayable to the business. Other signers can sign checks, make deposits and conduct normal business but not cash checks payable to the business or less cash on deposits. I'm wondering where these limitations are written or if they are only bank practice.
10/01/2001
I recently went into a "Citibank" in NJ where the check was drawn from and I was told after having cashed mycheck there for 6 months that it was their bank policy to not cash checks over $1,000. for non banking customers. I explained how I've done so for a long period of time and they simply replied it is the banks policy. If I wanted to cash a check there for over 1,000. I would have to open an account. Is this legal? I've gone to over banks to ask what there policy is and they simply state that they charge a fee but cannot turn away a check drawn on their bank.
09/03/2001
We recently had an irate business professional that wanted to "cash" a check that was payable to the business where he was employed and had been returned NSF. When we informed him that our bank policy was to issue a cashier's check payable to the business to replace the original check, he stated that it was against the law to NOT cash his check. Where can we find laws and/or regulations relating to checks and businesses/corporations?