I deposited the chech and the Bank of America credited me the money as a "courtesy" Then it came back that the guy had insufficient funds and i get charged with 9 overdraft fees...can i make him pay?
2007-10-25 04:24:32 · 14 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
IT SHOWED THAT MY FUNDS DID CLEAR!! MY AVAILABLE BALANCE WAS THE AMOUNT OF THE CHECK..AND THEN THE BANK TOOK IT BACK OUT! IT WAS GIVEN TO ME AS A COURTESY BUT THE GUY HAD NO FUNDS
2007-10-25 04:33:30 · update #1
MY STATEMENT DIDNT SHOW IT AS A COURTESY....IT SHOWED IT AS A CHECK THE CLEARED..WHEN I CALLED THE BANK THEY TOLD ME THEY GIVE FUNDS AS COURTESY TO GOOD CUSTOMERS AND THEN RECOVER THE MONEY FROM THE OTHER PEOPLES BANK..I DIDNT KNOW IT WAS COURTESY I THOUGHT THE CHECK HAD GONE THROUGH SO YES I SPENT THE MONEY...WHEN THE BANK COULDNT GET THEYRE MONEY FROM THE GUY THEN THEY TOOK MINE BACK OUT
2007-10-25 04:41:18 · update #2
PLEASE EXPLAIN: it showed that the check cleared..it showed my balance was $1400....2 days later the bank took it back and i became negative $280....i spent the money because i thought it had cleared..bcz that is what the bank was showing me...i told the bank it was their fault for not making sure the funds were there before crediting me but they said no..its the guys fault
2007-10-25 04:48:49 · update #3
You mean that you spent the money while it was still in "courtesy" status, it didn't pan out, and you got charged for spending money that wasn't there? Call your bank and tell them it was a misunderstanding, explain that you were confused about the process, and they may refund some of the fees. You can't make the guy pay for the fees on your account. You're legally responsible for them as the account holder. You can go to court and a judge may force him to reimburse you for them.
2007-10-25 04:37:04 · answer #1 · answered by _I_love_warm_bananas_ 4 · 0⤊ 0⤋
YOU are held responsible for the funds. If the check was made out to you then you should have signed the back of the check to be deposited into your account. By signing the back of a check you entitle all responsibility of the check to yourself. You should have waited for the funds to clear from the guy before you started spending money. The bank is correct on their part so any NSF (Non-Sufficient Fund) Fees due will be for you to pay back. Hope you've learned your lesson this time. Next time be more careful!
2007-10-25 11:43:26 · answer #2 · answered by ♥Fun Lovin Chick♥ 2 · 1⤊ 0⤋
No, Bank of America screwed you. You need to wait for funds to clear before you start writing checks off them. You learned a lesson though, get some over-draft protection.
And yes Bank of America did screw her, they purposefully mislead people into thinking funds have cleared, if you ever overdraw they will bounce as many checks on you account as mathematically possible and they do anything they can to get you to overdraw. All banks do this, you have been screwed by an institution and this is how they all work. Look out for yourself.
2007-10-25 11:28:40 · answer #3 · answered by Tisker 5 · 0⤊ 0⤋
Absolutely YES he should pay for every one of the fees! I know mistakes happen but he should have never written a check to you that had a chance of bouncing. Call him and tell him what happened, how much you've been charged in fees and that you would like CASH in the amount of the fees.
2007-10-25 11:29:21 · answer #4 · answered by i have no idea 6 · 0⤊ 0⤋
Unfortunately, you are responsible for any deposits that bounce. I too was a victim of the same thing, which is not fun. Just remember to never write checks off of a deposit until that persons' check has cleared.
2007-10-25 11:39:04 · answer #5 · answered by Snow 1 · 1⤊ 0⤋
Yes, the guy is legally on the hook for your overdraft fees.
The problem is he already gave you a bad check and now you think he will be responsible to pay you more?
Send him a bill with copies of the overdraft fees caused by his check bouncing. Make sure you black out anything he does not need to see and your account numbers.
If he doesn't pay (in cash or money order, I really wouldn't take another check from him), sue him in small claims court.
Good luck.
2007-10-25 12:38:35 · answer #6 · answered by Gem 7 · 1⤊ 2⤋
I work in a bank AND HE IS ABSOLUTELY NOT RESPONSIBLE AT ALL!!!!!!
It is NOT his fault that you relied on his cheque to keep you out of your overdraft!!! How was he to know that???? No way not for a second should he have to apy your fees.... it is NOT his responsiblity to keep you out your overdraft..... unless he is your employer his cheque isn't your "income" so its of no relevance what so ever to your overdraft and how much money you have.
Do not waste your time persuing this.... it is a dead end and anyone who has said otherwise doesn't know what they're talking about...
However...... you BANK should NOT be charging you UNLESS they informed you at he time you handed over your check that the money was going in as a curtosy and wasn't actually "there" yet.
2007-10-25 11:44:35 · answer #7 · answered by juicy_satsuma 3 · 0⤊ 1⤋
Legally, no - morally, maybe. And it's not Bank of America's fault.
2007-10-25 12:38:22 · answer #8 · answered by Judy 7 · 0⤊ 0⤋
Yes, he would absolutely be responsible.
2007-10-25 11:27:45 · answer #9 · answered by slushpile reader 6 · 0⤊ 0⤋
yes he should be. but legally I don't think he is but it's just the fact of curtisy
2007-10-25 11:30:03 · answer #10 · answered by Loverboy666 2 · 0⤊ 0⤋