i checked my bank account this morning and it said deposited item returned on a pay check i deposited for $472 the bank took $400 of the deposit and returned it somewhere. does anyone know how this happened and if i will get my money back, i tried to call chase bank and couldn't get a hold of anyone and they are closed today
2007-10-14 07:06:43 · 5 answers · asked by sh198823 2 in Business & Finance ➔ Personal Finance
it means the cheque could not clear the account it was written upon. It could be that it bounced, like the other answers, or it could be for a number of reasons, the account was closed, the cheque was post dated/stale dated, etc. Your bank can tell you why
2007-10-14 08:12:20 · answer #1 · answered by spacecat 4 · 0⤊ 1⤋
A returned item usually means the check was not honored by the bank it was drawn on (i.e., a bounced check).
The "return" would mean the bank would subtract the entire deposited amount from your account. It is not clear why they didn't charge the account the full $472. You will need to talk to your banker to get it straightened out and be certain you have the full story. If it was a bad check, then you have to talk to your employer.
Banks accept checks for deposit with the caveat that if the check is not honored (for example, the bank the check is drawn on refuses to pay it for lack of funds in the employeer's account), they will charge you back for the dishonored deposit.
2007-10-14 07:13:03 · answer #2 · answered by BAL 5 · 0⤊ 1⤋
"Deposit item returned" means that some check that you deposited has turned out not to be good. Did your paycheck bounce? Check with your employer and your bank first thing on Monday.
2007-10-14 07:16:24 · answer #3 · answered by hottotrot1_usa 7 · 1⤊ 0⤋
It usually means the deposited check bounced. Ask your employer what happened as well as the bank.
2007-10-14 07:12:56 · answer #4 · answered by Anonymous · 1⤊ 0⤋
whatever you deposited "bounced."
2016-05-22 11:42:30 · answer #5 · answered by ? 3 · 0⤊ 0⤋