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Home >> Checks/Money Orders
Bank Lost Check, Still Can't Find
I wrote a check made out to my bank for services they provided. They lost the check, and suggested I stop payment on it and resubmit it. Am I obligated to do so? It has been several months and the money is still in my account. How long can I wait before using this money if they never find it?
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 If your check hasn't been paid, the bank is still due its fee, and it appears they know it. You need to pay them. Whether you stop payment on the first check or not is your decision, based on your belief that it will eventually turn up or not. If you wait, that old check could show up a year or more from now, and your bank could pay it (reliance on a "stale dated check" rule is from another era, under old laws) unless you have a stop payment in effect.
If your check is drawn on the same bank that you tried to pay with it, you'd have some leverage if you got charged twice. If two banks are involved, unraveling a double charge could be difficult.
As for adding that original check back into your account balance, because there is a risk that the old check could show up, you need to decide whether you want to insure against the risk by paying for the stop payment. If you think the dollar amount of the check isn't worth insuring against the risk, don't stop payment. The only thing that's predictable in this case is that the odds of the check showing up tend to go down over time.
Published on BankingQuestions.com 8/01/08
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