I had a check someone gave me bounce..fee??

[LostHiWay]

I just got a check from someone that bounced when I deposited it into my personal account. I was always under the impression that only the person that writes the bad check gets charged the fee...but I got a $25 dollar fee for the returned check. I have a small business and have gotten bad checks but I have never been charged a fee. Is is different for business accounts?

 

[pulse8]

It all depends on the bank you use and the conditions of the account.

 

[lo5750ul]

Generally there are more fees associated with business accounts over checking accounts, however it is entirely dependant upon your finacial institution.

 

[Emulex]

yup its important to READ the terms of the account you signed for 🙂

 

[The Stigenator]

I dont understand that rule too... I got a bounced check from an old work place (old means back in 1998).. and I got hit by the fees. I made him rewrite it and add on the fees.

 

[Thegonagle]

Sorry, but that?s junk. My bank and my credit union each only charged less than $3 when someone wrote me some bouncy checks. Call the bank immediately and let them know what you think of their fees. You might get them to reverse the charge, since it was out of your control.

 

[Base10]

Take it down to your disctrict's attorney's office....

 

[randomlinh]

yeah, of the few banks i've used, as well as parents... bounced checks are always something WE have to pay... they don't hide it or anything, it's all flat out in their list of rules and whatnot, but i don't think it should be that way... the person who wrote the check should get billed or something (then again, since it bounces, i guess they realize the person has no money so they charge you)...

 

[palad]

The banks I have used will usually charge both parties, the person who wrote the bad check and the person who cashed it. I would imagine that's why a lot of businesses have a little plaque that says they will charge $x for each returned check.

 

[Thegonagle]

To clarify, if you did not overdraw your account, and only deposited a bad check, you should not be charged $25. That's way too high. OTOH, if you did overdraw your account, then it is partially your fault for writing or withdrawing against a deposit that has not cleared.

The reason that many businesses have a $20 fee for returned checks is because they generally forward the bounced check to a third party collection agency (CheckMate, CheckRight, Etc.) that in turn collects the original amount plus the service fee from the check writer.