I deposited a check I received in the mail for a puppy I was selling. On Thursday I deposited it. Then there was the 4th of July holiday weekend. We were waiting for it to clear. People that were buying the puppy wanted us to send the shipping money that they included to a shipper in London. We told them we couldn't until check cleared. On the following Tuesday, I went to the bank and told them that I thought the check was no good. I hadn't used any of the money.
They froze my savings and checking accounts and my 21 year old daughter's savings and checking account also, since my name was on her account. We deposited the check in good faith, yet we are getting penalized for depositing it, including my daughter, who was totally uninvolved. We had money in the account that would have covered the amount, if we had used any of it.
Whatever happened to "Innocent until proven guilty"? We are the victims, and now they say we can't have an account for five years. What can we do? How can we clear our name for something as innocent as depositing a check we thought was good?
Your bankers may have over-reacted. They could have readily protected themselves by grabbing the amount of the check in question and holding on to it until the suspect check was indeed, returned.
Wait a few days and then arrange to speak with the bank manager. Hopefully, when cooler heads prevail, the bank will step back to a more tenable position and you'll be able to access your other funds. If that attempt isn't fruitful, contact an attorney.
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Your bankers may have over-reacted. They could have readily protected themselves by grabbing the amount of the check in question and holding on to it until the suspect check was indeed, returned.