Wells Fargo Bounced Check

[txrandom]

Is it normal for a bank to charge you when someone else gives you a bad check?

I got a $7 fee tacked onto it.

 

[kranky]

Indeed, that's normal.

 

[AMCRambler]

Originally posted by: kranky
Indeed, that's normal.

Really? I thought the person that wrote the bad check gets charged the fees. How can they charge the person that tried to cash it? There's really nothing that person could do about it as they don't know the state of the other person's account.

 

[BoomerD]

YOU get charged for depositing an item that didn't clear, THEY get charged for insufficient funds.

Don't know about TexAss, but in Kahleeforneeya, you can charge the person who bounced the check $500 or 5 times the amount of the check...whichever is more.
Businesses do that pretty regularly here...Helps to recover some of the costs incurred by bad checks.

 

[BrunoPuntzJones]

Originally posted by: AMCRambler

Originally posted by: kranky
Indeed, that's normal.

Really? I thought the person that wrote the bad check gets charged the fees. How can they charge the person that tried to cash it? There's really nothing that person could do about it as they don't know the state of the other person's account.

Banks are the ones with the money, they make the rules.

 

[txrandom]

I'm not worried about getting the money back. The person who gave me the gift needs it more than me. I was just wondering if the fees were normal.

 

[AMCRambler]

Originally posted by: BrunoPuntzJones

Originally posted by: AMCRambler

Originally posted by: kranky
Indeed, that's normal.

Really? I thought the person that wrote the bad check gets charged the fees. How can they charge the person that tried to cash it? There's really nothing that person could do about it as they don't know the state of the other person's account.

Banks are the ones with the money, they make the rules.

Yeah that's true I guess. Seems pretty friggin' lame charging the person trying to cash the check when it's totally out of their control whether it's going to bounce or not. You're going to have an account at the bank you're cashing the check at anyway. They really don't lose any money on the deal, they would just deduct the amount from your account. I can't really see what costs are incurred by a bounced check that aren't incurred when a good check clears. Either it clears or it doesn't. If it doesn't the balance will come out of your account. Just another way for the big guys to jam the little guys.

 

[rstove02]

$7 is not too bad. My bank slaps me with $25 if I deposit a bounced check. Because of this I do not ever cash checks my sister writes for me. Last month I got one from her for $40 and I just wound up tearing it up because of the probability I would get a $25 withdrawal rather than a $40 deposit was too great.

 

[PingSpike]

Originally posted by: BoomerD
YOU get charged for depositing an item that didn't clear, THEY get charged for insufficient funds.

Don't know about TexAss, but in Kahleeforneeya, you can charge the person who bounced the check $500 or 5 times the amount of the check...whichever is more.
Businesses do that pretty regularly here...Helps to recover some of the costs incurred by bad checks.

Or it would if the guy that wrote you that bum check had any money in his bank account!

 

[nakedfrog]

Originally posted by: PingSpike

Originally posted by: BoomerD
YOU get charged for depositing an item that didn't clear, THEY get charged for insufficient funds.

Don't know about TexAss, but in Kahleeforneeya, you can charge the person who bounced the check $500 or 5 times the amount of the check...whichever is more.
Businesses do that pretty regularly here...Helps to recover some of the costs incurred by bad checks.

Or it would if the guy that wrote you that bum check had any money in his bank account!

Exactly :laugh:

 

[mugs]

Yeah, I got hit with a bounced check fee when I deposited checks from our wedding. I felt bad... I didn't deposit them until over a month after our wedding, and apparently the person who gave us the check didn't balance their checkbook.

 

[txrandom]

Originally posted by: mugs
Yeah, I got hit with a bounced check fee when I deposited checks from our wedding. I felt bad... I didn't deposit them until over a month after our wedding, and apparently the person who gave us the check didn't balance their checkbook.

Yah, that's what happen here. Got some birthday checks around August 21 and just deposited them half a month ago.

 

[FoBoT]

yes, the writer gets a fee, the depositor gets a fee, fees all around for everyone so that the bank can make more bad loans on mortgages

 

[AMCRambler]

Originally posted by: FoBoT
yes, the writer gets a fee, the depositor gets a fee, fees all around for everyone so that the bank can make more bad loans on mortgages

Banks are bastages. I hope some of them eat it royal on these sub prime loans.