Theoretical Banking/Check Question

[srorobs 10+ year member]

So if a friend got a check for a significant amount of money from a company they never heard of and they deposit it in their account, if it turns out to be a mistake, how long does the company have to reclaim it??

Click to read more...

 

[here to buy 10+ year member]

your friend is stupid.

 

[srorobs 10+ year member]

Oh, thanks for answering the question asshole

 

[dr_peeb 10+ year member]

So if a friend got a check for a significant amount of money from a company they never heard of and they deposit it in their account, if it turns out to be a mistake, how long does the company have to reclaim it??

Uh-oh, you're not talking about that girl that got the Notre Dame "tip" check are you??

HAHA! She was dumb!

Unfortunately, I do not know the answer to your question. Sounds like a legal "statute of limitations" question. I would think years, though.

 

[srorobs 10+ year member]

Uh-oh, you're not talking about that girl that got the Notre Dame "tip" check are you??
HAHA! She was dumb!

Unfortunately, I do not know the answer to your question. Sounds like a legal "statute of limitations" question. I would think years, though.

No, I didn't hear about that one. And I was thinking it was 30-90 days, maybe a year at most.

 

[John3000 10+ year member]

Its a scam, prob one of the Nigerian deals and they sent the check to the wrong address. If he puts it in his bank account I am pretty sure they will be calling him later on down the road saying the check was fake and they want him to reimburse them.

How much is it?

 

[srorobs 10+ year member]

$2800 and it is from a company that produces a very well known product, so doubtful it a Nigerian scammer

 

[dr_peeb 10+ year member]

Its a scam, prob one of the Nigerian deals and they sent the check to the wrong address. If he puts it in his bank account I am pretty sure they will be calling him later on down the road saying the check was fake and they want him to reimburse them.
How much is it?

Go ahead & deposit it & score the interest while it lasts! Just don't spend the principal so you still have it when they come callin'.

Edit: Ooops I mean principle, I think.

 

[99grandprixGT 5,000+ posts]

so is he supposed to be getting a check or just randomly got it?

 

[srorobs 10+ year member]

Got it in the mail via UPS certified next day air mail, out of the blue.

 

[FurbiesAndBeans 10+ year member]

I thought once a check was made and signed there was no going back...

 

[srorobs 10+ year member]

I thought once a check was made and signed there was no going back...

Possibly, but I think businesses might be subject to different rules. I mean, that's why people always say not to sign a check until you are ready to cash it, because if you drop it, anyone could pretty much pick it up and cash it and you would be beat, but I don't know, that is what I am trying to figure out.

 

[DidUHearThat? 10+ year member]

I'd bet a dollar that the check and the bank it's written on turn out to be fake. He will probably recieve a "charge back" in 6-8 weeks after his bank has exausted all efforts to get the funds. His bank will simply take all the funds out of his account.

Or worse, the Nigerians will get back the cancelled check and use his bank info to commit other crimes.

One way or the other it's fraud. It's not his money. Playing with those type of scams will get you burned.

 

[DidUHearThat? 10+ year member]

Possibly, but I think businesses might be subject to different rules. I mean, that's why people always say not to sign a check until you are ready to cash it, because if you drop it, anyone could pretty much pick it up and cash it and you would be beat, but I don't know, that is what I am trying to figure out.

No. If you have money in your account, your checks are valuable. Your bank info is valuable to thieves, because you are a real person with a real credit history. A bogus check sent to you from some scammers is worth less than the postage on the package. There was never any money in the account, their bank info is bogus and therefore the check is worthless.

If I print a check on my printer from Micorsoft for $1,000,000 on the People's Bank of SmithTown, Oregon. That is still a worthless check. If I have a buddy running a Nigerian scam with a bogus bank address in Smithtown Oregon, I'll get the cancelled check back in a few weeks asking for payment. Stamped with all your and your banks info. It will be several more weeks before your bank realizes that not only have they not recieved payment, but your account info, and dozens of others, are now being used to set up a new bogus bank somewhere else for another much bigger fraud. Or simply sell your info to hackers on the internet.

By the time the cops show up, the address will be an empty office, and nobody left to question.

They are either after your money or your personal info, or both.

 

[undeadxsunshine 10+ year member]

Call the bank?