My company issued a final payroll check to an employee. The employee was terminated and called us a few days later saying he lost his check. We checked our bank, issued a stop payment, and re-issued him a check. Now it is six months later and we heard from a grocery store that they cashed this check, paid the man, and then was returned by our bank as a stop payment. Now they are saying we need to pay them. I disagree, we paid the employee and the original check should never have been cashed. Can someone help me out here?
A customer purchases a bank money order and the money order is lost. Are the funds guaranteed or can the bank refuse to replace the money order?
Can I levy an account with an "in Trust With" Title? Ex: John ITW Jane. The Levy is in Jane's name.
A bank has a business customer that is not a signer on the account that brings in cash for their daily change order. Is this a liability for the bank?
We have a levy that came in on one of our customers. The customer has some items that are coming through his account, one being a payroll for his employees. Does the levy have precedence over the other items clearing his account, and if so, can we charge NSF fees?
A business employee brings in $7000 cash and requests a cashier's check. Do we include information (ID, address, TIN, etc.)regarding the business employee or the business on the Monetary Instrument Log?
What is a "security committee"? We already have BSA, Compliance, Human Resources, Audit and Executive Committees.
Can a hold be placed on a postal money order?
A customer is claiming check forgery, made a police report and completed forgery affidavits. The customer stated that he left the checks in his business vehicle, where his employee was able to access it. Must the bank reimburse if the customer was negligent?
Can a DBA business account having more then one employee report under a SSN and not a TID?