🚀 go-pugleaf

Jamie <jamie@digex.net> wrote:

Just for you information, you can put the check in for collection at
either your bank or the signatories bank. This would involve a fee,
$15 has been my experience, and the bank will hold the check for a
period of time, not sure how many days, and when a deposit is made
that will cover the check, the check is then made good.

This surprises many people!

Too bad for the offender.




>
>Gordon Charrick wrote:
>> 
>> In misc.consumers Jamie <jamie@digex.net> wrote:
>> : Why should Crestar (as opposed to your bank) honor the check, if, as you
>> : said, it was rejected it due to insufficient funds?
>> 
>> : A bad check is a bad check.  I've never heard of anyone being able to
>> : cash a bad check simply going to the issuing bank personally.  The
>> : reason you couldn't cash it at your bank in the first place, is because
>> : Crestar themselves had rejected it due to insufficient funds.  Why would
>> : showing up there in person change that situation?
>> 
>> Suppose you break into John Doe's home and steal some of his checks. You
>> write one out and forge his signature and take it to his bank to be
>> cashed. How do they know whether or not it's a forged check unless that
>> branch has his signature card? John isn't going to be out the money
>> because he'll bitch and scream and file an affidavit of fraud and get
>> the money back. The bank or it's insurance company will eat the loss.
>> This is the banks way of discouraging this kind of fraud.
>
>What does this have to do with availability of funds?  I wasn't talking
>about forgeries here, I was talking about a check for $X being deposited
>against an account with <$X.
>
>Jamie