Bank Fee question

[mrsklamc]

DH has done some contract work for a guy we know to be bad at budgeting. Previously he has been paid in cash. The guy would like to start writing him checks. If he gives us a bad check, and we attempt to deposit it, will the bank hit US with fees? We are going to check with the bank, too, but just wanted to see if that is even possible. I think I had read something like that around here.

 

[minnie1928]

DH has done some contract work for a guy we know to be bad at budgeting. Previously he has been paid in cash. The guy would like to start writing him checks. If he gives us a bad check, and we attempt to deposit it, will the bank hit US with fees? We are going to check with the bank, too, but just wanted to see if that is even possible. I think I had read something like that around here.

It's highly likely that you will be assessed a return check fee. The bank may try to resubmit the check in the hopes that it will clear the second time.

 

[midwestdee]

Each bank has different rules - call your bank right away - often yes they do. the problem is - even if your bank doesn't charge you a fee if the guy gives you a bad check - you still won't have the money you are owed. Be straightforward and say you will only accept cash, money order or a certified check that will guarantee you the funds.

 

[Soon2B4]

I used to do that job at a bank. If the check was redeposited, we charge a small fee. If the check gets returned again, we charged a larger fee and mailed the check back to our customer. Your best bet would be to go to the bank the check is drawn on and cash it there. No fee for you. If you call that drawn on bank and the funds are good and you deposit it in your bank, there is no guarantee that by the time the check makes it back to his bank the funds will still be available. Good luck to you!

Hope that makes sense!

 

[TaraPA]

Yes - my bank & the last bank I used both charged a fee for returned checks written to me. It's a hefty fee too - I think $28 was the last one.

 

[mrsklamc]

Yes - my bank & the last bank I used both charged a fee for returned checks written to me. It's a hefty fee too - I think $28 was the last one.

See, I thought I had read something like that, and that just seems completely unfair. How are you supposed to know they're a deadbeat? (Although I guess in our case we do.)

Honestly, it's a relatively small amount of money each month and we should be debt free other than our mortgage after May. So we may just tell the guy to pound sand....

Thanks for the suggestion of using HIS bank though. Great idea!

 

[budbeerlady]

We have had that issue with a contractor Dh has worked with. (He did eventually pay the fees it cost us and the check amount. I think it was $32 for the fee.) But lesson learned, we go to his bank or cash it at a party store near us. (We have alot of seasonal workers who cash their checks when they stop for cigarettes or beer. Its very common by us.)

 

[a1tinkfans]

DH has done some contract work for a guy we know to be bad at budgeting. Previously he has been paid in cash. The guy would like to start writing him checks. If he gives us a bad check, and we attempt to deposit it, will the bank hit US with fees? We are going to check with the bank, too, but just wanted to see if that is even possible. I think I had read something like that around here.

YUP, you'll be hit with a FEE, and it can be HIGH. so be sure this "businessman" is paying you correctly! OUCH! Good Luck!

 

[Floridagal23]

Like another poster said, go to HIS bank an cash it. Or, ask for a bank issued check.

 

[deerhart]

if it does bounce, you should ask the guy in writing to submit the funds PLUS any fees charged to you by cashiers check or money order within 10 or 15 days. If he doesn't comply, then turn the check over to your local county prosecutor to have the person charged with at least a misdemeanor (depending on the amount of money involved)

Around here, they are very very good at getting the money from people.