My apartment complex stated that they are going to verify funds from checking account...what does that mean?
2006-10-09 05:00:52 · 4 answers · asked by safighter36 1 in Business & Finance ➔ Personal Finance
Whose funds and whose checking account? They want to check if they have any money in their bank account to pay you. Or want to check your bank account to see if you have enough money to pay them.
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2006-10-09 05:11:34 · answer #1 · answered by Spica 4 · 0⤊ 0⤋
They will call the bank at the time a check is in hand to verify that the funds are there. If so, they will deposit the checks at once.
This saves returned checks and the fees applied to both the writer and the depositor.
2006-10-09 12:10:38 · answer #2 · answered by ed 7 · 0⤊ 0⤋
They will probably either call the bank to make sure you have money to cover the check you wrote, or use a check verification system that will pay them for your check if your check bounces.
2006-10-09 12:09:25 · answer #3 · answered by startwinkle05 6 · 0⤊ 0⤋
They are going to call the bank and make sure you have $$ in there
2006-10-09 12:09:01 · answer #4 · answered by GD-Fan 6 · 0⤊ 0⤋