Why would your bank accept such a check? I think banks need to be more responsible with our money. They don't have your signature on that check! Sorry this happened to you. These criminals are getting more brazen. I can think of two scenarios. Someone faked a check from me to them and went to the teller and cashed it they sure had a lot of guts to cash this at the teller!
Or worse, someone has a fake I'D with my name, wrote a bad check and cashed it against my account, pretending they are me. In this case, if they have a fake ID, what stops them from doing it again?? Inside job? Smart move closing the account and opening a new one. Hope they find the guilty person. Sometimes the thief writes a check for a small amount and if it goes through, writes one for a larger amount.
With check ordering services from outside the traditional banks, this has been something that has always concerned me. I've always fealt that someone has to be somewhat desperate to go through the trouble of stealing a bank routing number, name and forge a false ID to get away with this sort of theft. Fortunately, you caught it quickly. That could in turn catch this person as I'm sure they'll attempt to either cash another check or go shopping with that closed account.
I find banks are awfully lax when it comes to security. You don't have to go into a bank with guns demanding money in order to rob a bank these days. People do it all the time with ID and credit cards theft. They're just stealing a few hundred or a few thousand at a time.
Sometimes when they bleed the banks accounts slowly the bank doesn't notice it or take action against it as they would someone walking into the bank with a gun. And to think, I've seen people get upset about thumb print technology when they want to cash a check.
An ID can be easy to fake. A thumb print isn't quite as easy. Last edited: Feb 16, Joined Jun 7, Messages 2, Reaction score 1, Points Adriana, I'm so sorry to hear this has happened to you! It's a scary situation when you find out someone has your information and has used it to access your bank accounts, etc.
I hope your bank manages to catch the culprit. You were smart to close your account and open a new one. There is something else you need to do as well, I think. Contact all the credit bureaus and place at a minimum a "Fraud Alert" on your credit. I just did that AND placed a credit "freeze" on my credit as well. Anyone running a credit application on me knows they must contact me first to find out if I am actually the one requesting credit.
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Without proper proof of identity, a bank can legally refuse to cash a check made out to your name. The bank may demand that these proofs be "valid," or current, even though your picture is right on it.
Say a business owner wants to cash a check written to the business. That may seem harmless enough, but it might not be cashable if the owner has not followed through with a few simple—and necessary—procedures. He tries to cash that check at a nearby bank, but the bank teller refuses to complete the transaction unless John can provide proof of valid business registration with the state.
Business owners need to take two steps to prevent the problem:. Both these steps are needed for other purposes, notably for tax filing, but they'll also save aggravation at the bank. If you don't have an account at that bank, you may be charged a check-cashing fee, especially if you go to the payor's bank.
Not all bank branches can handle a large cash transaction without advance notice. Credit unions and smaller branches of large national bank chains may not have the necessary cash on-site to clear a very large check.
It will not be willing to hand most or all of it to a single customer and tell the next customer that the bank is out of cash. When you have a check for a very large amount of money, call ahead to the manager of the bank branch you intend to visit.
The bank manager will advise you whether you should go in by appointment, go to the main branch, or even go to another bank that can handle the transaction. Some checks carry notices indicating that they will become void after a certain period of time. Once that date has passed, these checks are referred to as stale dated.
Some checks can become stale-dated as early as 60 days, while others may be 90 to days. While the Federal Reserve considers those notices to be guidelines, some banks are very conservative and won't budge. If you wait too long to cash a check, a bank can refuse to cash it.
Legally, a bank can refuse to cash any check that is older than six months. Some banks may decide to cash it anyway as a favor to a long-time customer, but that is entirely at the bank's discretion. Another reason a bank may not be able to cash a check that is too old is that the routing number of the institution issuing the check may have changed as a result of a merger or acquisition. If you try to cash a post-dated check one with a future date on it and a bank refuses to cash it, the bank may be following instructions from the person who wrote the check.
Personal Finance. Your Practice. Popular Courses. Banking Checking Accounts. What Is a Crossed Check? Key Takeaways A crossed check is a check that is crossed with two parallel lines, either through the top left-hand corner of the check or horizontally across the whole check. Crossing a check provides specific instructions to a financial institution regarding how the funds can be handled. Crossed checks are predominantly used in countries across Europe and Asia, as well as Mexico and Australia.
Related Terms Understanding Checks A check is a written, dated, and signed instrument that contains an unconditional order directing a bank to pay a definite sum of money to a payee. Pay to Order Definition Pay to order refers to negotiable checks or drafts paid via an endorsement that identifies a person or organization the payer authorizes to receive money.
Postdated A postdated check or draft will display a future date on it. A check user will often write this in to specify that they do not want to withdraw the amount of the check until the date specified.
A certificate of deposit CD is a bank product that earns interest on a lump-sum deposit that's untouched for a predetermined period of time. How Does a Checking Account Work?
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