Recently, I wrote a landlord a check for $1033.33. We decided a day later not to take the apartment. I informed the landlord; told him I put a stop on the deposit check. He went to my bank and somehow was able to cash the check, even though I had a stop on it. The bank is aware of the teller's mistake and is working on it. Does the person cashing the check just get to keep the funds as a bank error?
Untitled
If your bank reimburses you for the check, it will be able to step into your legal position. It can pursue the payee of the check to recover the amount, if you would have been entitled to a refund yourself from that source. But if the deposit check was not refundable under the purchase contract, the bank would then turn around and be able to pursue you for the check amount, to prevent a loss to the bank and to keep you from being unjustly enriched. Stopping payment on a check does not always mean you won't have to ultimately pay what you owe.
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
If your bank reimburses you for the check, it will be able to step into your legal position. It can pursue the 