I was given a check from a friend and I was told it was going to bounce after I had already put it in. Will banks usually fine the person who entered the check ? I know they fine the person who bounced it but what about me?
2007-10-29 15:37:19 · 4 answers · asked by weather_woman 2 in Business & Finance ➔ Credit
If the other bank cashes the check then there is no penalty to you. They will however get assessed and overdraft fee.
If their bank rejects the check, the other person gets no penalties from the bank, because no money was taken out. However, depending on your bank you may be charged a fee for it being returned.
Depending on how good your friend is, and the area you live in. If the check is returned then in some locations you are actually allowed to claim damages up to 3 times the amount of the check. At the very least they should pay for any fees you incurred.
2007-10-29 15:54:10 · answer #1 · answered by OC1999 7 · 0⤊ 0⤋
Yes, it's called a bounced deposit. If their bank returns the check unpaid, your bank will have a charge for that and you will pay it.
2007-10-29 23:12:14 · answer #2 · answered by Dan H 7 · 0⤊ 0⤋
If it was in your account then they are gonna fine you. You then have to go after your friend for all the fees. I hope the friend will pay you back for all the fees. If not I have two words for you: Judge Judy.
2007-10-29 22:45:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋
yes. all parties will be fined for the returned item.
if your friend refuses to make the check right + fees you are entitled to damages. please check your states civil code for applicable treble damages. in ohio you can sue for the amount of the check + 3x the value of the check as treble damages.
2007-10-29 23:20:43 · answer #4 · answered by wareagle30 2 · 0⤊ 0⤋