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Reg CC Hold: Reversing Deposit/Return Check

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Question: 
Deposit Question related to Reg CC Hold: It was brought to my attention that if a customer makes a deposit and changes their mind we can reverse the deposit and return them check to them. Is this true?
Answer: 

It's true if you haven't yet processed the check. But once the check has been processed, I don't think you'd be able to retrieve it to give it back.

First published on 08/25/2014

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