Here's a hard one?

Question

Ive been employed to repersent a company in china.They have sent me a large sum of money,I put the check in my bank and
my bank says the check is good and after 7 days credited my account with it,now if i send it out as they ask and it turnes out
the check was no good who is at fault here.Ive asked my bank if the check was good and they said it has been cleared,and sent me a statement to that efect, what do i do about disbersing funds
in a timely maner as to not get hurt.

Answer 1

Wait thirty days before disbursing the money. International sums take longer to clear. Remove the money from the account it was posted to and place it in account at another bank and then when disbursing the money buy a money order without a traceable account number so that the person you are sending the money to can not come back and check your account that you sent the money from.

Answer 2

You are responsible for every deposit that you make into your account. So if you deposit a check, and the bank places it on hold, they are doing so to allow time for that check to come back. Because it is international, it can take longer.. so don't be suprised if it comes back after the 7 day period. Also, even though a check clears... the account that it clears from may be a perfectly legit account, but if the account owner was a victim of fraud, and makes a claim that that particular check was not authorized by them.. then it will get debited from your account, and if you have used any of the funds from that check, it is your responsibility to re-coop your own money. Just and FYI, most banks reserve the right to debit your account for any transaction for up to 60 days after the transaction has taken place... I wouldn't do business with a company who send me chekcs and ask me to wire money out. It is called Money Laundering.. and you will get caught. There are too many processes put in place to catch those things.. no matter how much you think you have it figured out, it will not go undectected. Make a wise choice and get a real job.

Answer 3

You know where the check came from. The bank says the check cleared thru the clearing house. I don't see that you have a problem.
Unless!!!!!!!!! the company or person who sent you the check wants you to send money back to them, to someone else, or deposit money into another account -especially in another country. Those are tricks scammers have been using on the Internet.
If the bank sent you a statement showing that you have the money, then later says you do not. The bank is liable for any loses. Trying to get a bank to voluntarily pay up would be extremely difficult.
You are right to be cautious about dealing with anyone from another country, especially when it involves the transfer of money.

Answer 4

once a bank clears funds, they are stating the money is there. they which most people don't know as my wife worked at a bank. the money is transfered right away even out of state or anywhere. they made up the time period as the money they get is invested at higher rates. its like someone handing you millions for a week to put in a savings account for a week to ten days. you make thousands and give the million back. the only fault would be if you wrote checks and the account is overdrawn by a mistake in accounting on your part you get hung for it. by the bank sending you a paper trail stating the money has cleared then write the checks. any bank that states the funds are there and gives you a written statement to the fact must honor it under federal banking laws.

Answer 5

This entire things sounds odd. Why have you been hired to disperse funds? Why would you deposit a check meant to disperse into a personal account? If the bank states that the check has cleared why would you be concerned that it is not good? It sounds like you either knowingly or unknowingly have become involved in something illegal, get out! There are a million scams out there and I think you have landed in one head first. By the way - do you really think your bank will eat the cost of any check especially a large one ... ummmmm - NO! if the check turns out to be bad then you better believe that you will be the one your banks comes to for the money.

Answer 6

What you describe is the same scam coming/going from/to Nigeria. Put the check(s) in YOUR account. Draw out all but 10% (yours) of total sum over $3,000. Wire balance to address given in e-mail then notify when you have done so.
Whatever the answers your getting about the bank, doubt if you'll get your money back. Am filing Fraud Alerts tomorrow.

Answer 7

Agreed, by now the bank has cleared the check which means all the precautions have been taken. If this is a legit business transaction.

If not, then ..... sorry.

Answer 8

I would think it is the company your working for. If the bank said it has cleared though, you shouldn't have any problems. You are representing the company in the united states though. I wouldn't work for them if you ruin your reputation because they bounced checks.

Answer 9

You got screwed!

Did you get employed by an e-mail claiming to send you money? If so, your money in that account is at jeopardy too. Also, if that is the case report it to the Secret Service they have been tracking those scams.

Answer 10

If the bank has cleared it, disburse the funds according to your contracts and business plan.