A check that I received cleared, but now they are asking for me to pay the money back. Is this right?
It's a fact that your bank is required in most cases to provide you access to funds you deposit by check within two business days, and it can take longer than that for a check to be returned unpaid. The fact that your bank makes the funds available, is not an indicator that the check has actually cleared. If the drawee bank delayed its return of the check beyond its midnight deadline(midnight of the banking day following the day the check was presented to it for payment), that return could be untimely, and you could have some hope of recovering the funds.
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It's a fact that your bank is required in most cases to provide you access to funds you deposit by check within two business days, and it can take longer than that for a check to be returned unpaid. The fact that your bank makes the funds available, is not an indicator that the check has actually cleared. If the drawee bank delayed its return of the check beyond its midnight deadline(midnight of the banking day following the day the check was presented to it for payment), that return could be untimely, and you could have some hope of recovering the funds.
