08/29/2005
There was a $134,611 check made payable to two companies from one of our customers. One company does not bank with us. They took the check to their bank without the other company endorsing it, and that bank paid the check. How long do we have to return the item that was improperly endorsed and paid?
05/02/2005
Two weeks ago we received notice of a without entry breach of warranty from the drawee bank on a $16,510 check. The maker has sent an affidavit of fraudulent activity with an altered payee claim. The check cleared the account almost three months ago. Our depositor was not aware of this alteration and received the check by a mail lottery scam with their name in the payee line. We, the depositing institution, acted in good faith and accepted the check for deposit. Our depositor waited for the check to clear and withdrew the funds. We are now being ordered to pay the full amount of $16,510 back to the drawee bank. I have gone through all the UCC sections for presentment warranties, imposters, ficticious payees and negligence contributing to forged signature or alteration of instument. Are we held liable for this item? And did the drawee bank meet the timeframe to return the item?
02/01/2005
Question: We got a check back, through the work, that has a stamp on it marked "Other" and written on the face of the check were the words "forged endorsement".
10/01/2004
Question: One of our officers attended your workshop in Philadelphia and came back and said we should stop checking endorsements on the checks that come in through the exchange.
09/06/2004
We have a business customer that has had its account number stolen. The individual who stole the number along with the ABA and Bank name changed the check face from a business check to a personal check. Which affidavit do I use to return these items to the bank in which these checks were deposited?
01/19/2004
A customer recently informed us that he had business checks stolen from his business and consequently cashed at another institution. The discovery was made several weeks after the checks cleared. Are there forged signature affidavit forms available or should the customer put their explanation in their own words?
01/01/2004
An account holder comes in and tells you he checked his statement, and found there are two checks charged to his account that he did not write.
01/01/2004
Your depositor just walked up to your desk to tell you he got his statement yesterday in the mail, his checks were enclosed, and there are four checks in there that have been paid against his accou
12/01/2003
Is it my imagination, or is the financial industry becoming more mercenary and considerably more paranoid than it used to be?
10/01/2003
Question: Our customer brought in a paid check from his monthly statement that he said is forged.