I received a check from a customer; it cleared, and I shipped the merchandise. Can the bank take back the money if the check turns out to be fraudulent? How much time do they have to take the money back?
Once the check reaches the bank on which it's drawn, that bank has only one day to determine whether the check is good or not. If the bank fails to return the check by midnight of the next business day, it's too late.
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Once the check reaches the bank on which it's drawn, that bank has only one day to determine whether the check is good or not. If the bank fails to return the check by midnight of the next business day, it's too late.
