I have a friend who was taking checks made out to me and endorsing them on the back without my knowledge. What he was doing was writing 'for deposit only' and depositing them into his account without my endorsement and his bank did this for about four months. When I discovered this, I contacted the bank. They gave me the process to go through to seek help. I cooperated to the fullest and filed criminal charges, but the bank has yet to reimburse me the funds that I lost as a result of their negligence. What can I do?
Unfortunately, the proper route to follow is to complete an affidavit for each one of those checks that you didn't endorse, and did not obtain any benefit from, and provide the affidavit to the party who sent you the check, along with a request that the check be reissued, because the party has not yet paid you. The issuer of the check then files a claim with the bank the checks are drawn on and that bank files a claim with the bank that took the checks for deposit. The check takes a backward journey and the funds should flow back to the check issuer, who should have given you a new check. You have to start the ball rolling with the party who issued your checks in the first place.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
Unfortunately, the proper route to follow is to complete an 