Is it possible for a check to clear my bank, show paid on my statement, and yet the receiving bank claims they never received the funds?
Yes, if the check was misrouted to the wrong payee, this could happen. A lot of high-volume billers such as mortgage servicers and credit card issuers use automated equipment that opens and processes payments. If you happened to put a check for a credit card payment to your bank in an envelope addressed to your mortgage servicing bank, it's possible the wrong bank will have posted the wrong amount to your credit on the wrong account. Ask the bank holding your checking account to review the back of the check to see if they can determine where it was received.
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
Yes, if the check was misrouted to the wrong 