I just deposited a check dated Sept 12 2002. *** Update *** It cleared!!!

[dullard]

In most cases when a check bounces, BOTH parties are charged fees. For some reason ATOT doesn't believe it and there have been heated debates about the issue in other threads. However, I have bank statements from my wife's business that do show for a fact that both parties are charged. On some occasions, a particular bank might waive the fee on the check recipient, but that is rare. And typically the fee is just $5 or so (plus they take back your $23.11). The ~$25 fee is charged to the person who wrote the check.

 

[notfred]

I'm pretty sure it's illegal for checks to have expiration dates in California.

 

[tami]

this check is going to be bounced for SURE.

you'll see.

i speak from experience.

 

[tami]

Originally posted by: dullard
In most cases when a check bounces, BOTH parties are charged fees. For some reason ATOT doesn't believe it and there have been heated debates about the issue in other threads. However, I have bank statements from my wife's business that do show for a fact that both parties are charged. On some occasions, a particular bank might waive the fee on the check recipient, but that is rare. And typically the fee is just $5 or so (plus they take back your $23.11). The ~$25 fee is charged to the person who wrote the check.

it's very rare that the other party is charged the fee. i've had cases that a check was bounced because the other party's account was closed -- and well, there obviously was nothing they could do about it...

 

[MikeyIs4Dcats]

when in doubt, call the issuing bank and verify sufficient funds exist.

 

[Spencer278]

Originally posted by: MikeyIs4Dcats
when in doubt, call the issuing bank and verify sufficient funds exist.

When in doudt go to the issueing bank and cahs the check.

 

[dullard]

Originally posted by: tami
it's very rare that the other party is charged the fee. i've had cases that a check was bounced because the other party's account was closed -- and well, there obviously was nothing they could do about it...

No it is the other way around. Usually there is a fee. If it is a one time occurance, the bank may waive it.

 

[dartworth]

LOL...NSF letter on the way...


-$25

 

[neovan]

The check is stale dated and most banks won't cash/deposit it if it is more than 6 months old. They may even charge you a fee.

 

[dethman]

this reminds me when jerry bankrupted his grandma by cashing all her old checks.

 

[quakefiend420]

Originally posted by: dethman
this reminds me when jerry bankrupted his grandma by cashing all her old checks.

?

 

[MikeyIs4Dcats]

Originally posted by: quakefiend420

Originally posted by: dethman
this reminds me when jerry bankrupted his grandma by cashing all her old checks.

?

GTFO. You cannot live in ATOT world if you don't know Seinfeld. BAN!

 

[dman]

I'm usually slow to cash checks, maybe a few weeks to a month after I get them. Mostly because my bank of choice is a 'credit union' and I either have to mail them in or drive myself 20-30minutes to the branch.

Anyway, I deposited a check about 45 days after receiving it from a client and a few days later she called me to apologize on bouncing the check. She had closed her account (moved to a different bank) and wasn't aware that check was still outstanding. I hadn't heard back frm my bank yet (letter actually came in the mail the next day or two).

Client rewrote the check and I ate the fee I was charged by my bank ($10-25 I can't remember) since I had waited quite a while to deposit it...

Moral: Yes both banks parties can get hit for bouncing. And there's not an easy way to pre-validate the check prior to cashing it. The safest way, I believe, is to go to the issuing bank and try cashing it there. Of course, that's not very convenient.

 

[MikeyIs4Dcats]

Originally posted by: dman
I'm usually slow to cash checks, maybe a few weeks to a month after I get them. Mostly because my bank of choice is a 'credit union' and I either have to mail them in or drive myself 20-30minutes to the branch.

Anyway, I deposited a check about 45 days after receiving it from a client and a few days later she called me to apologize on bouncing the check. She had closed her account (moved to a different bank) and wasn't aware that check was still outstanding. I hadn't heard back frm my bank yet (letter actually came in the mail the next day or two).

Client rewrote the check and I ate the fee I was charged by my bank ($10-25 I can't remember) since I had waited quite a while to deposit it...

Moral: Yes both banks parties can get hit for bouncing. And there's not an easy way to pre-validate the check prior to cashing it. The safest way, I believe, is to go to the issuing bank and try cashing it there. Of course, that's not very convenient.

You can generally call and verify the account has adequate funds at the time of calling.

 

[FrustratedUser]

So to sum this up:

<--- Own3d!

 

[dullard]

Originally posted by: dman
Moral: Yes both banks parties can get hit for bouncing. And there's not an easy way to pre-validate the check prior to cashing it.

Thanks for backing me up. Whenever I close an account, I leave enough money in there to clear all outstanding checks. My banks have helped me set this up and make it as pain free as possible. I just can't understand those people who close it right after writing a check, don't leave any money in there, and the banks that let them do this.

 

[her209]

Direct deposit.

 

[thirdlegstump]

On a similar note, I have a $220 check that's been sitting here since the company went bankrupt once. If I deposit it, it MAY bounce. I got hit with a $20 fee last time it happened with them. Should I take the risk?

 

[MikeyIs4Dcats]

Originally posted by: deathkoba
On a similar note, I have a $220 check that's been sitting here since the company went bankrupt once. If I deposit it, it MAY bounce. I got hit with a $20 fee last time it happened with them. Should I take the risk?

unlikely the account still exists after a bankruptcy, but try calling the issuing bank and asking if the account is open and has enough to cover the check.

 

[apac]

Originally posted by: deathkoba
On a similar note, I have a $220 check that's been sitting here since the company went bankrupt once. If I deposit it, it MAY bounce. I got hit with a $20 fee last time it happened with them. Should I take the risk?

For $220 I might risk it.

 

[StageLeft]

Originally posted by: MikeyIs4Dcats

Originally posted by: dman
I'm usually slow to cash checks, maybe a few weeks to a month after I get them. Mostly because my bank of choice is a 'credit union' and I either have to mail them in or drive myself 20-30minutes to the branch.

Anyway, I deposited a check about 45 days after receiving it from a client and a few days later she called me to apologize on bouncing the check. She had closed her account (moved to a different bank) and wasn't aware that check was still outstanding. I hadn't heard back frm my bank yet (letter actually came in the mail the next day or two).

Client rewrote the check and I ate the fee I was charged by my bank ($10-25 I can't remember) since I had waited quite a while to deposit it...

Moral: Yes both banks parties can get hit for bouncing. And there's not an easy way to pre-validate the check prior to cashing it. The safest way, I believe, is to go to the issuing bank and try cashing it there. Of course, that's not very convenient.

You can generally call and verify the account has adequate funds at the time of calling.

I cannot imagine that somebody can call my bank and say "I've got a check from skoorb for $2000. Does his account have that money? Here's the account number.". No way they'll give that info out.

 

[dullard]

Originally posted by: Skoorb
I cannot imagine that somebody can call my bank and say "I've got a check from skoorb for $2000. Does his account have that money? Here's the account number.". No way they'll give that info out.

I think it is your legal right to ask that AFTER the check has bounced once. Before that, I doubt you can get that information (maybe you can though). I don't know what bank MikeyIs4Dcats banks with - it could be scary and I would switch banks if I were him.

 

[royaldank]

Originally posted by: Skoorb
I cannot imagine that somebody can call my bank and say "I've got a check from skoorb for $2000. Does his account have that money? Here's the account number.". No way they'll give that info out.

I was thinking this same thing.

 

[StageLeft]

Originally posted by: dullard

Originally posted by: Skoorb
I cannot imagine that somebody can call my bank and say "I've got a check from skoorb for $2000. Does his account have that money? Here's the account number.". No way they'll give that info out.

I think it is your legal right to ask that AFTER the check has bounced once. Before that, I doubt you can get that information (maybe you can though). I don't know what bank MikeyIs4Dcats banks with - it could be scary and I would switch banks if I were him.

I bet you could never get it. I truly can't imagine I could EVER call up somebody else's bank and ask "Hey does he have this in the account?" They'd probably ask what my phone number is and tell me to wait for the po-po to stop by.

 

[MechJinx]

heh, I just had a 4 dollar service charge because a buddy of mine gave me a check that bounced when I deposited it after he assured me that he had the funds to cover the check.

Now I'm contemplating 'bouncing' a bat off his head!