Is there any requirement that a bank has to cash out, rather than only allow deposits, of government checks?
Do state and federal government checks require an endorsement or can they be stamped "For deposit only"?
A customer has placed the phrase "void after 90 days" on his checks. A check was presented and paid after the ninety day timeframe. The customer wants the money back. Are we liable?
Does a government check have an expiration date, or are they good forever?
Our bank is located in Virginia and is in Federal district 05 and a customer has deposited a check drawn on the State of Maryland also in district 05. Since it is a State government check must we make the funds available as next day or do we simple treat the check as local since the check is drawn off of a state other than our own?
Can a non-account holder sign over a government check to an account holder for deposit or cash on his/her account?
We generally do not cash checks for non-customers. We have been discussing this as a potential income source, but there are differing opinions on our right to refuse to cash government checks, postal money orders, treasury checks, etc. My question is this: can we refuse to cash these?
We cash tax refund checks for noncustomers and charge a fee of 3% of the check amount, or $5, whichever is greater. I am looking for guidance on the fees we can charge.
Currently my bank will cash a government check...both federal or state, for non-customers. We have lost a considerable amount of money by providing this service. My questions: (1) Is there a requirement that we cash government checks for non-customers? (2) When a customer opens an account for the purpose of having an account in which to deposit a government check, can we require that the check be set up on direct deposit? Customers will open an account, deposit the check, cash the check and then close the account. If the deposit was made directly from the government we would waste far less time and money opening accounts for one day.
Are there certain checks that we are obligated to cash for non-customers, i.e., on-us checks, government checks, money orders, etc? If so, do they fall under Reg CC?