|
 |
Home >> Accounts >> Business Accounts
Don't Need Problem with Corporate Check
I am curious about a corporate check I deposited in my bank, which was drawn on a different bank. Once the check clears the maker's bank, since it is a corporate check, if the corporation that cut the check after reconciling their account deems the check was not of their making, who is responsible: the bank that cashed the check on their client's behalf or me, the individual that deposited the check and after waiting for it to clear, spends all or some of the funds? While this appears to be a legitimate transaction, I don't need any problems.
|
Untitled
|
 If the corporation notifies its bank of the problem in time for the bank to return the check by the day after it's presented for payment, you would be responsible, even if you'd managed to pull some of the funds and spend them.
If you're concerned about a check's validity, it's wise to check it out with the check issuer before depositing it.
Published on BankingQuestions.com 3/11/10
|
| |
|
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
