It was a check for $50. So a check from someone else bounces abd I need to pay a fee? I am so confused.
"Whether you write or receive a bounced check — also called a nonsufficient funds, or NSF, check — it will cost you. Write one and you'll owe your bank an NSF fee of between $27 and $35, and the recipient of the check is permitted to charge a returned-check fee of between $20 and $40 or a percentage of the check amount."
So they write me a bad check, not only do I not get paid, but I am charged a fee because they bounced a check?
Has this ever happened to any of you?
Edited 1 time(s). Last edit at 03/16/2019 03:53AM by Niner.
Did you just deposit the check? Checks usually have an expiration date, sometimes 3 months sometimes 6. If the check expired after 90 days and was issued in November, it would have been voided in February.
As for the bounced check fee; yes, that's how it works. If you attempt to cash/deposit a bad check you get fined from your bank. You can then charge the person who wrote the check a fee to reimburse you and pay an extra charge for the inconvenience. However, if the check was in fact expired, you wouldn't necessarily be able to get anything back from the MSC, as it was your fault and not theirs that the check bounced.
It's pretty standard for a bank to charge you a fee if you deposit a bad check. It stings pretty good, but also prevents folks from intentionally attempting to deposit checks multiple times, etc. There is a good chance the MSC will reimburse you the fee - unless, of course, they are really in trouble.
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The MSC will probably send a new check. A different MSC sent me one that bounced because their bank used what they called an "issue number" that was not in the sequence for that month's checks. The MSC refunded my bounced check fee and recovered that from their bank.
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Yes, if you deposit a bad check, you will get charged for this. All, or at least most,banks do this. it costs them money to manually process the check and they may owe fees to other "organizations" in the banking chain. Did you actually get the physical check back? Many banks create an electronic image that is processed by the Fed clearing system and they destroy the actual check. Regardless, it doesn't matter. You get charged. I fully expect that the MSC will send you a new check and reimburse the fee that you were charged.
Shopping Southeast Pennsylvania, Delaware above the canal, and southwestern NJ since 2008
I do a lot of work for Mercantile (#1) company and received a check last month with no problem. Being this check was for Nov., could the bank have made a mistake, they should have known months ago if it bounced...the bank should redeem the cost.