FundRobot » Money Funds » Checks and bank accounts?

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Old   #1 (permalink)
 
Posts: 2,506
Default checks and bank accounts

checks and bank accounts. checks and bank accounts

Tech009 is offline   Reply With Quote
Old   #2 (permalink)
 
Posts: 2,639
Default checks and bank accounts

Take the check to your friend and ask for cash.
Smile.ToMe is offline   Reply With Quote
more..
Old   #3 (permalink)
 
Posts: 2,512
Default checks and bank accounts

Don't take it to your bank if you know there are no funds in his account to cover the check. NOT only will you have to pay it back when the check bounces - the bank is going to charge you fee/penalty for this. Unless you have sufficient funds in your account when you try to cash the check - the bank isn't going to give you the cash.

Call your friends bank everyday to see if there are sufficient funds in his account & then go immediately to your friends bank and cash the check..

Tell your friend its illegal to write a bad check & he needs to pay you cash cause you would sure hate to get him/her in trouble.
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Old   #4 (permalink)
 
Posts: 2,557
Default checks and bank accounts

If your bank cashed the check of course you would have to pay the money back. I would have gone to the "friend" and asked for cash the first time there were no funds. I would not have back to the bank again. This person is not a friend if they are trying to rob you.
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Old   #5 (permalink)
 
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Default checks and bank accounts

Your "friend" is scamming you. If the bank were going to overdraft his account, then they would have cashed the check for you.
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Old   #6 (permalink)
 
Posts: 2,506
Default checks and bank accounts

Good question
Tech009 is offline   Reply With Quote
Old   #7 (permalink)
 
Posts: 2,643
Default checks and bank accounts

Good question. For a long time customer, depositing a small check the bank will usually not put a hold on that check, meaning funds are available immediately. Example customer has 2000 in account deposits a 300 check. Then the next day withdraws 2100, then two days later 300 deposit is reversed, meaning balance is now -100, Customer will be charged a fee for depositing a bad check, (10-30?) and asked to deposit $100 to bring the account to 0.
You can deposit and see what happens, if his bank pays it then you are good. But may take 5-7 business days to be returned.
Keep in if check bounces, bank should send back to you and you can redeposit it at a later date.
Call the guy and ask for cash, best solution if possible.
Happiness45 is offline   Reply With Quote
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