Is it true that banks have six months to return a check? I have been told that banks and credit unions are going back months and returning checks and charging appropriate fees if the customer has a negative balance in his bank account. Can this possibly be true?
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Your bank has, in effect, one business day to make a final decision on payment of checks on your account. If the the bank misses that "midnight deadline," it is too late to return the check, whether there's an overdraft, a forged signature, a missed stop payment or anything else having to do with your account. In some cases, the bank would be required to absorb the loss, but this six month rumor has no basis in fact at all.
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Your bank has, in effect, one business day to make a final decision on payment of checks on your account. If the the bank misses that "midnight deadline," it is too late to return the check, whether there's an 