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Return Reason for Checks Already Posted and Cleared

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Question: 
We have a customer that has written several checks to several entities over the past 3 months. He has since discovered that he has been getting scammed. We are going to issue stop payments on the checks that have not yet cleared his account. Is there any recourse for the checks that have already posted and cleared his account. We are unable to readily find an adequate return reason. Is there one?
Answer: 

No. If there are no issues regarding endorsements, your bank has finally paid those items and any returns would be "late." Thus, your bank would and should be held responsible.

Banks are not in a position to fix every foolish decision their customers can make.

First published on BankersOnline.com 7/8/13

First published on 07/08/2013

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