Skip to content
 

"Charged Off" Status and Returning a Check

Answered by: 
Brian Crow

Question: 
What is the proper return reason to use when returning a check that is presented against an account that has a "Charged Off" status?
Answer: 

"Charged Off" is simply your internal status indicating that money is owed to the bank by the customer. By charging an account off you have terminated the account. Return these items "Account Closed."

First published on BankersOnline.com 8/15/11

First published on 08/15/2011

Filed under: 
Operations

Report a problem with this page

Search Topics