07/15/2013
If you receive a legal attachment after an inclearing check or ACH item is presented for payment, should the item be paid even if you have time to return it? E.g. an ACH debit item is presented and memo posted at 7:00 AM on its effective date, and a search warrant and attachment are delivered to the bank at 9:00 AM on the same day.
07/01/2013
Is there a time limitation on correcting encoding errors on customer accounts?
06/24/2013
We had a customer purchase a cashier's check. We have now found out that the check was used to scam our customer. Can we place a stop payment on the cashier's check before the check is received? What reason would we give for the stop payment?
06/03/2013
If someone has a plenary guardianship should the checks issued for the ward be deposited into a guardianship account and then disbursed or can the guardian cash them?
06/03/2013
We have a business customer who wants to use a restrictive endorsement "all rights reserved" on the back of deposited checks. What does this endorsement mean and should we allow this endorsement?
06/03/2013
I found this good information about forged endorsements on your site; however, I am wondering what the drawee bank liability would be if they don't return a check that has no endorsement at all? As a matter of law, a drawee bank does not have a duty to conduct any review of payee endorsements on checks received from a depository bank. Under the UCC, a check bearing a forged endorsement is not properly payable (Revised UCC . 4-401). If the drawee bank pays a check bearing a forged endorsement, then it is obligated to recredit the drawer account for the item.
05/06/2013
Can a stop payment be made on an official check of the bank? Our bank changed from cashier's checks to official checks so that we could put a stop payment on them.
04/29/2013
We have a joint checking account that was opened by a husband and wife. The husband and wife agreed that the purpose of this account would be to pay joint bills. They ordered checks requiring two signatures, however, the account was not set up as a dual signature account. (The signature card that is signed by both parties makes no mention of a dual signature requirement.) Couple is now going through a divorce and the wife forged husband's name on two of the checks totalling $7000.00. Husband is now asking the bank what his recourse is. I have told him that it is an issue he needs to work out with his wife because the signature card does not require two signatures. Does he have grounds for a formal forgery claim against the bank?
04/29/2013
A treasury refund check is made out to John W Deceased and Betty Doe;Betty Doe's name is on the 2nd line of the check. What is the proper endorsement?
03/18/2013
Does a stop payment for checks need to state only valid for 14 days unless signed?