My husband's company has closed and some are skeptical that the checks won't clear. Actually, there are some people that have tried and found the checks did not clear. My husband went to cash a check and put his bank account number on the back and they cashed it with no problem. I dont know if it was just some checks or what, but I just wanted to know if it would affect his checking account, because he provided it during the transaction. If that check didnt clear would it be affect his bank account?
If your husband cashed that check at the bank that holds his account, it's likely that the bank would be able to charge his account for the amount of the check if it bounces, either under state laws providing the bank a right to offset obligations it owes to a customer against obligations of the customer to the bank, or under specific deposit account agreement language allowing the bank to tap the account if it accommodates a customer in cashing a check that subsequently bounces.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
If your husband cashed that check at the bank that holds his account, it's likely that the bank would be able to charge his account for the amount of the check if it bounces, either under state laws providing the bank a right to offset obligations it owes to a customer against obligations of the customer to the bank, or under specific deposit account agreement language allowing the bank to tap the account if it accommodates a customer in cashing a check that subsequently bounces.
