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Home >> Accounts >> Checking Accounts
Passing Checks a Crime? Now What?
My husband and I have three checking accounts. One, which he has direct deposit for his salary, one which I have direct deposit for my salary, and one which we use as our main account. We were passing checks back and forth between banks and did not realize that this was a crime until recently when I received notice of hold on my deposits and my checks we're returned "REFER TO MAKER". The hold on our deposits were lifted already, but I am worried if they will press charges against us? I did not intend to defraud any of our banks and I did not realize that it is a crime to pass checks. I just thought it is the convenient way instead of withdrawing cash and depositing it to the other banks. It's just that one of our banks is a credit union, whose main office is far from us, so I find it easier to just pass checks in depositing funds instead of getting a money order so I could deposit money. I am just worried how long will I wait until they will press charges? Will they really press charges even if the amount is not that much? I just can't have peace of mind lately. I am worried that they will press charges anytime. How will I know if they won't press charges? |
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 It is not unusual to move money between accounts by check. To withdraw cash and deposit it, particularly when some distance is involved, would be decidedly unusual.
What can be illegal, however, is to withdraw funds from a bank when those funds don't actually exist. For example, if you create an artificially-high balance in the account by depositing checks on another account without funds to cover the check used to make the transfer, and then withdraw funds before the transfer check bounces, you're breaking the law. It's a form of check fraud, and a federal offense.
You profess your innocence. You also say that holds have been lifted, and presumably none of the banks have closed your account yet. If that's the case, you may be fine.
Consolidate your accounts to eliminate the need to move funds around as often. Decide where you want to do your banking, balancing service, convenience, etc, and then arrange to close the other accounts, moving your direct deposits there too.
Published on BankingQuestions.com 12/03/08
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