07/23/2023
We have a non-banking client who received several checks from his deceased grandmother (our client) which total over $10K. He is traveling from KS to Fla to cash these checks. Our problem is that he doesn't have a Social Security Number. Can or should we cash the checks and create a CTR, or refuse him? He does have a DL. He lives off the grid....we will file a SAR for sure.
04/16/2023
Is there any central contact or easy way to contact larger banks like Bank of America as an example, with a telephone number to verify the validity of a Cashier's Check issued by them. Local branches typically give us "everyone is busy" or it just can't be done. How do smaller community banks verify these if not by phone?
04/02/2023
When a fraudulent check is presented for payment after the account is closed, is it returned as 'fraud'?
10/02/2022
If we cashed a third party check for the customer who has a Rep Payee account and the check comes back as fraud, are we able to charge that check back to our customer's account since it is a Rep Payee account?
07/24/2022
Regarding Reg CC and Next Day Availability, does the bank have the authority or flexibility to release an amount larger than the $225 required by the regulation? For example, if a $10,000 check is deposited in a consumer's account, can the bank release an amount such as $2,500? This would include $2,275 in addition to the $225 required by the regulation.
02/06/2022
We sent a check out in our cash letter, and the check number was encoded wrong. That is it, nothing else.
When the makers bank received the check, they paid it. Then days later they realized that check had a stop on it. The stop was on ck# 1855. We sent the check to that bank with no check number at all. Our machines did not pick it up. They are wanting us to pay them back for the check because we sent it out without the check number, however they missed the stop too. The check suspected and they failed to notice the check number was not correct and it had a stop on it.
02/06/2022
We sent a check out in our cash letter, and the check number was encoded wrong. That is it, nothing else.
When the makers bank received the check, they paid it. Then days later they realized that check had a stop on it. The stop was on ck# 1855. We sent the check to that bank with no check number at all. Our machines did not pick it up. They are wanting us to pay them back for the check because we sent it out without the check number, however they missed the stop too. The check suspected and they failed to notice the check number was not correct and it had a stop on it.
02/06/2022
What is the return window for endorsement issues? Are they all the same for Missing, Irregular or Forged items?
01/30/2022
Under what legal authority could we as the depository bank seek to recover a check timely returned by the "midnight deadline" when multiple prior checks were not timely returned by the "midnight deadline"?
01/23/2022
We used to sell Amex gift cards and travelers checks in the branch. About 3 years ago we discontinued this service.
Is it a requirement for banks to accept travelers checks to be negotiated. We are located in NY if that matters.