Community Chat

[sidsmom]

If you took a check into your bank, presented it to your teller....your teller bundled her work for your courier...your courier took the bunched checks to a central area for your processing, your processor prepared 1,000's of checks for processing, your processor's manager reviewed all the work which your check was included.....only to have it charged back 2 days later. Allllll those hands touching that bad check....for naught? The teller, courier, processor, management....all are paid a salary at your bank. The time they took to handle this bad check costs YOUR bank a lot of $$$ via time & energy. For that reason, charged back items are just as costly as original OD checks.

[RainyDayGal]

On 5/30/2014 sidsmom said:

If you took a check into your bank, presented it to your teller....your teller bundled her work for your courier...your courier took the bunched checks to a central area for your processing, your processor prepared 1,000's of checks for processing, your processor's manager reviewed all the work which your check was included.....only to have it charged back 2 days later. Allllll those hands touching that bad check....for naught? The teller, courier, processor, management....all are paid a salary at your bank. The time they took to handle this bad check costs YOUR bank a lot of $$$ via time & energy. For that reason, charged back items are just as costly as original OD checks.

What?! I feel like I just got done reading Greek.

[DoneTryin]

At my credit unions, they'd charge me for the bounces & then the company who got the bad check (e.g., grocery store, etc) would ask not only for the original sum to be paid by some other means than check plus their service fee. Therefore, a bounced check for me would cost $30 or $33 (different credit unions, different fees) & probably at least $25 to the payee. So, whatever got purchased would cost about an extra $50 or so. Good reason to be careful about writing checks, eh?

[Topaz Gem]

Nowadays I believe both get charged. It used to be just the account holder.

[sidsmom]

On 5/30/2014 RedConvertibleGirl said:

On 5/30/2014 sidsmom said:

If you took a check into your bank, presented it to your teller....your teller bundled her work for your courier...your courier took the bunched checks to a central area for your processing, your processor prepared 1,000's of checks for processing, your processor's manager reviewed all the work which your check was included.....only to have it charged back 2 days later. Allllll those hands touching that bad check....for naught? The teller, courier, processor, management....all are paid a salary at your bank. The time they took to handle this bad check costs YOUR bank a lot of $$$ via time & energy. For that reason, charged back items are just as costly as original OD checks.

What?! I feel like I just got done reading Greek.

Giggle....didn't mean for it to be that way but....you're kinda proving my point. It's easy to blame the "big, bad Bank" for being "money hungry", but in reality it's a complicated business w/ many, many people touching one little check.. That little piece of paper called a 'check' is pretty powerful....I think many forget that.

[Elstongunn]

Many people don't know this, but as the recipient of the check, once you sign it on the back (endorse it on the back with your signature), you are in essence taking ownership of the check and vouching for it. You've accepted that form of payment from the payer. I realize that this has gotten lost over the decades or that people were never taught that piece of info when learning about checks, check writing, check endorsement, etc.

People write bad checks all of the time. As the recipient of a check, the bank holds you responsible once you sign (endorse) the back of the check. This is why you should always trust the check writer, and if you have any doubts, you can always call their bank with their account number and ask if there are sufficient funds to cover the check before you sign off on it.

So, if you accept and submit a check from someone that bounces, the bank will charge you a fee. You can, of course, go back to the check writer and demand that he/she reimburses you for bad check fees.

So...when in doubt, call the check writer's bank to ensure sufficient funds to cover the check BEFORE you sign it, or request payment in the form of a money order or cashier's check or certified check.

[hckynut]

I can tell you for sure that the one that deposits the ""insufficient funds check"" gets charged a fee. I have never written a bad check to anyone so do not know if the one writing the check gets a fee from there bank or not.

As one that has gotten a few over my many decades of running my adult hockey league? My solutions was for the offender to reimburse me for my costs and from that point on they paid their hockey fees by Cashiers Check or Cashola.

[AngusandBuddhasMom]

On 5/30/2014 sidsmom said:

On 5/30/2014 RedConvertibleGirl said:

On 5/30/2014 sidsmom said:

If you took a check into your bank, presented it to your teller....your teller bundled her work for your courier...your courier took the bunched checks to a central area for your processing, your processor prepared 1,000's of checks for processing, your processor's manager reviewed all the work which your check was included.....only to have it charged back 2 days later. Allllll those hands touching that bad check....for naught? The teller, courier, processor, management....all are paid a salary at your bank. The time they took to handle this bad check costs YOUR bank a lot of $$$ via time & energy. For that reason, charged back items are just as costly as original OD checks.

What?! I feel like I just got done reading Greek.

Giggle....didn't mean for it to be that way but....you're kinda proving my point. It's easy to blame the "big, bad Bank" for being "money hungry", but in reality it's a complicated business w/ many, many people touching one little check.. That little piece of paper called a 'check' is pretty powerful....I think many forget that.

Well put sidsmom. My DD works in the back office of her bank and yes it is not as simple as people seem to think.

[Lynnj]

On 5/30/2014 RedConvertibleGirl said:

On 5/30/2014 sidsmom said:

If you took a check into your bank, presented it to your teller....your teller bundled her work for your courier...your courier took the bunched checks to a central area for your processing, your processor prepared 1,000's of checks for processing, your processor's manager reviewed all the work which your check was included.....only to have it charged back 2 days later. Allllll those hands touching that bad check....for naught? The teller, courier, processor, management....all are paid a salary at your bank. The time they took to handle this bad check costs YOUR bank a lot of $$$ via time & energy. For that reason, charged back items are just as costly as original OD checks.

What?! I feel like I just got done reading Greek.

LOL, that made e spit my drink out laughing. I was lost too.