I was sent a check stating it was part of my winnings in a lottery drawing. If I deposit the check and do not touch the funds for a period larger than two weeks will I be held liable if the money is indeed bogus?
It really doesn't matter how long you let the money sit. Under the law (usually referred to as the Uniform Commercial Code) in all U.S. states, a bank is entitled to recover funds from you for any check deposited to your account that is later dishonored, as long as the bank that "bounced" the check acted timely.
If the check isn't drawn on a U.S. bank, it could take several weeks before it comes back if it's no good.
Don't be duped by one of the biggest scams out there. If you didn't enter a lottery, you can't win a prize. Remember that old warning about "If it seems too good to be true ...."
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
It really doesn't matter how long you let the money sit. Under the law (usually referred to as the 