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#42213

fred (Visitor)

what happens if you are on chexsystems Bank deducts old bad check from account
I recently found a -130.00 entry while checking my bank account balance online. I called them and they said they had done an audit and a check from 1 year and 8 months ago!!! had bounced. So, they took the money back. Isn't there a time limit to this sort of thing??

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#42214

Rich Greenberg (Visitor)

what happens if you are on chexsystems Bank deducts old bad check from account

I recently found a -130.00 entry while checking my bank account balance online. I called them and they said they had done an audit and a check from 1 year and 8 months ago!!! had bounced. So, they took the money back. Isn't there a time limit to this sort of thing?? Had you made a $130 deposit about that time? Ask for documentation, such as the bounced check. And don't do this with customer lack_of_service on the phone. Go in and talk to the branch manager, and if your usual dress is beat up jeans and a T-shirt, dress up a ways so the manager won't make an assumption from your looks. If they can't show you the check and you had no such deposit around that time, ask for an apology and the money credited back. If there is at least some doubt, they MAY give it to you as a good will gesture.

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#42215

RobATL1711 (Visitor)

what happens if you are on chexsystems Bank deducts old bad check from account

If it's from 1 year and 8 months ago and you did in fact make the transaction, then you are liable for it. It's not often that retail banks catch and correct an error from more than six months ago. Nonetheless by law they are allowed up to seven years. The IRS is very well known for taking full advantage of the seven year statuate. At the bank I work for, we have clients come in every May and June screaming that their tax refund check from five or six years ago had been backdrafted from their account and returned to them due to an improper endorsement.

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#42216

Falky foo (Visitor)

what happens if you are on chexsystems Bank deducts old bad check from account

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#42217

Falky foo (Visitor)

what happens if you are on chexsystems Bank deducts old bad check from account
screaming that their tax refund check from five or six years ago had been backdrafted from their account and returned to them due to an improper endorsement.

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#42218

RobATL1711 (Visitor)

what happens if you are on chexsystems Bank deducts old bad check from account

Would the bank try to charge for overdraft? What happens if the account is closed? YES, the bank will charge you an overdraft if the backdraft puts your acct negative, which by the acct agreement you signed (when you signed the signature card) they are en_title_d to do. If the account is closed, the bank will reopen the account with a negative balance. You'd then get a letter from the bank informing you that you now owe them the amount of the check, plus their return item charge, and most banks have a separate charge for closed acct activity handling since there's several extra steps involved. And if you don't pay it, it becomes a charge off bad debt on your consumer reports, both credit and chexsystems. Sometimes if the acct is closed the bank may send it back to the IRS, but that is extremely rare. In that case, the IRS would pursue collection from you directly, either with a levy of some kind or with a garnishment. But again it's very rare that route is taken.

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