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Posted by Laura on July 9, 2007, 2:38 pm
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> wrote:
>
>
>>
>>Bank of America does the same thing. They deduct the amount of the
>>electronic check on the day they send it out. This is probably to insure
>>that there are funds to cover the check.
>>
>>If the check was never cashed then you need to go to the bank and get that
>>corrected. I had it happened to me where the check from BoA went to the
>>wrong vendor so it was returned to me. It took a bit of explaining to them
>>but I finally got it deposited back into my account. It proably helped
>>that
>>I had the actual check to show them.
>
> Thanks for the reply Laura. What you say makes sense and prevents an
> electronic check from bouncing provided the funds are truly there to
> withdraw. I guess you just need to run some report that gives you all
> uncleared checks and be prepared to argue your case. My guess is they
> would then charge $20 for a stop payment charge before they put the
> money back into your account. Banks are right up their with the
> government when it comes to nickle and diming you to death.
I think the issuing of the Stop payment order is up to you. In my case I had
the paper check issued by the bank so I did not have to issue the stop
payment. In your case you might want to do that to be safe unless you know
why the check was never cashed.
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