Any recourse for a hot check?

[Lone Sailor]

who the hell still writes a check? with debit cards and all why would you waste your time with checks

I still write checks. Not many, but a few. The high school by son goes to doesn't take debit cards in order to pay for his lunches, which is probably the same at most schools, and the daycare my daughters go too also doesn't take debit or credit cards, which is very common.

[Lone Sailor]

People that like to float money, or just won't to steal from others.

Then there are the places that don't accept debit or credit cards. They still have their place. Granted, it is a very small place.

O Rly?!? Lmao!

[mstng86]

O Rly?!? Lmao!

Hey he asked.

[Lone Sailor]

Hey he asked.

I don't "float" money, nor do I ever try to or want to steal money from others, but I still write checks when it is convenient for me to do so or when I don't want to go out of my way to stop at a bank or automated teller machine. I'm guessing you're more going off the other thread where the cop left the guy's girlfriend holding a $550 bounced check, but you can't group all check writer's into one category.

[mstng86]

I don't "float" money, nor do I ever try to or want to steal money from others, but I still write checks when it is convenient for me to do so or when I don't want to go out of my way to stop at a bank or automated teller machine. I'm guessing you're more going off the other thread where the cop left the guy's girlfriend holding a $550 bounced check, but you can't group all check writer's into one category.

I was referring to the darker side of their use. There are people that use them for a legal purpose.

Sorry, I dealt with return item checks for 5 years at the bank. There are a TON of hot checks floating around. With the advent of electronic files being submitted from bank to bank, or bank to fed, it is harder for peole to write a check and think they have time to fund their account before it hits.

[YALE]

I don't "float" money, nor do I ever try to or want to steal money from others, but I still write checks when it is convenient for me to do so or when I don't want to go out of my way to stop at a bank or automated teller machine. I'm guessing you're more going off the other thread where the cop left the guy's girlfriend holding a $550 bounced check, but you can't group all check writer's into one category.

This is that thread.

[mstng86]

This is that thread.

lol I wasn't going to say that.

To put the size of hot checks into stats. We used to have around 100k returned checks come back a DAY. Now that is nationwide for a huge bank. But, think about how big of a deal that is with all the banks combined.

[Lone Sailor]

I was referring to the darker side of their use. There are people that use them for a legal purpose.

Sorry, I dealt with return item checks for 5 years at the bank. There are a TON of hot checks floating around. With the advent of electronic files being submitted from bank to bank, or bank to fed, it is harder for peole to write a check and think they have time to fund their account before it hits.

Yeah, it seems many people these days write checks in anticipation of what they will have in their account in the very near future versus what they actually have in their account at the time of writing checks. I never have understood why more don't just use their damn registers and and write checks based on what they have available instead of forecasting and "hoping" that it doesn't clear until their next check hits or other deposit is made into their account. I guess poor money management and/or just having a high income to debt ratio will make it that much more difficult to juggle, but that's no fault but their own in most cases.

[Lone Sailor]

This is that thread.

Great.

[carbd89sleeper]

Don't take this as an insult, but never EVER hold a check for ANYONE. Legally, there is no such thing as post dating a check or asking someone to hold a check for "x" amount of days until they get paid, etc, etc. Once the person hands over the check it is for immediate deposit. And by depositing it immediately a)you know right away if the person is trying to fuck you over and you won't be an extra week behind the ball before even finding out they have insufficient funds and b)by depositing it immediately that shortens the time they have before spending more money out of their account than what the check amount is for or before anything else posts to their account.

I've worked at several banks Chase, BOFA, currently with Citibank.....if the check is dated for a future date, the check cannot be deposited until the date written on the check, however if the teller does not catch it at time of deposit and deposits the check, the remitter of the check can dispute the check with their bank and place a stop payment or say the check was stolen and the sig was forged....i've seen this numerous times...just my two cents..

[carbd89sleeper]

Also a personal check has an expiration date of 90 days from the date written on the check unless stated on the back or front of the check....so don't hold onto it too long!!

[KBScobravert]

I've worked at several banks Chase, BOFA, currently with Citibank.....if the check is dated for a future date, the check cannot be deposited until the date written on the check, however if the teller does not catch it at time of deposit and deposits the check, the remitter of the check can dispute the check with their bank and place a stop payment or say the check was stolen and the sig was forged....i've seen this numerous times...just my two cents..

When I was buying a house 2 years ago I wrote a check on a Friday post dated for the following Friday. The check was for $1,000 and my agent and the seller's agent relayed to the seller to hold the check and cash in ONLY if we could not close. The $1,000 was like a gamble where we would walk away if we couldn't close and they could keep the grand. If we closed they were supposed to tear up the check.

Asshole seller deposited the check the same day he got it. The bank said there was nothing I could do but at closing I wrote him another check for $540 for some other shit. That check got canceled with a quickness as soon as I found out he cashed the "hold money". Lesson learned.

[carbd89sleeper]

When I was buying a house 2 years ago I wrote a check on a Friday post dated for the following Friday. The check was for $1,000 and my agent and the seller's agent relayed to the seller to hold the check and cash in ONLY if we could not close. The $1,000 was like a gamble where we would walk away if we couldn't close and they could keep the grand. If we closed they were supposed to tear up the check.

Asshole seller deposited the check the same day he got it. The bank said there was nothing I could do but at closing I wrote him another check for $540 for some other shit. That check got canceled with a quickness as soon as I found out he cashed the "hold money". Lesson learned.

That blows man....your bank sucks!! Always say someone stole your check book its sounds better than telling the truth that you got hosed for 1k!!

[Lone Sailor]

Also a personal check has an expiration date of 90 days from the date written on the check unless stated on the back or front of the check....so don't hold onto it too long!!

6 months.

http://www.law.cornell.edu/ucc/4/4-404.html

[Lone Sailor]

I've worked at several banks Chase, BOFA, currently with Citibank.....if the check is dated for a future date, the check cannot be deposited until the date written on the check, however if the teller does not catch it at time of deposit and deposits the check, the remitter of the check can dispute the check with their bank and place a stop payment or say the check was stolen and the sig was forged....i've seen this numerous times...just my two cents..

http://www.law.cornell.edu/ucc/4/4-401.html

(c) A bank may charge against the account of a customer a check that is otherwise properly payable from the account, even though payment was made before the date of the check, unless the customer has given notice to the bank of the postdating describing the check with reasonable certainty. The notice is effective for the period stated in Section 4-403(b) for stop-payment orders, and must be received at such time and in such manner as to afford the bank a reasonable opportunity to act on it before the bank takes any action with respect to the check described in Section 4-303. If a bank charges against the account of a customer a check before the date stated in the notice of postdating, the bank is liable for damages for the loss resulting from its act. The loss may include damages for dishonor of subsequent items under Section 4-402.