I received a check for $2,000 and submitted it to my bank. They held the check for ten days until it cleared. Two weeks later the bank said that the check had insufficient funds. How am I responsible, since the bank had already cleared the funds from the other bank? How can I resolve this issue?
It is very possible that you deposited the funds and the bank placed a hold according to their funds availability policy. That period expired before the check actually had time to clear the account it was drawn on. The check did finally reach that bank and there wasn't enough money on deposit.
You can ask that your bank run the check a second time or send it for collection. This is useful, as the other bank would check the account for sufficient funds every day for a month. If the person who wrote you the check has direct deposit, your chances of getting your money are better. Your bank may have charged you a fee for the returned check as they had to reverse the deposit. They may charge you a fee to send the item for collection as well, but at least you'd get some of your money.
You can contact the person who wrote you the check and request they pick it up from you with cash or a cashier's check. You can also speak with your county attorney about their assistance in collecting a hot check. In any of these cases, your complaint isn't with your bank. At least you have options.
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It is very possible that you deposited the funds and the bank placed a hold according to their funds availability policy. That period expired before the check actually had time to clear the 