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Bank Keying Error
MysticWolf_2
Posts: 3 Newbie
I wrote a check for 210.76, but the bank mis-read the number portion, and it has gone through my account for 20.76 (they missed the 1). The words were written as Two hundred.
I have a couple of questions.
1. Does this by definition, mean that the person to whom I wrote the check only got 20.76- or would they have received the correct amount credited to their account.
2. What happens if I do not advise my bank of this and wait to see if it is resolved - is there a time limit involved that they have to make the adjustment by?
Appreciate any advise you can offer.
I have a couple of questions.
1. Does this by definition, mean that the person to whom I wrote the check only got 20.76- or would they have received the correct amount credited to their account.
2. What happens if I do not advise my bank of this and wait to see if it is resolved - is there a time limit involved that they have to make the adjustment by?
Appreciate any advise you can offer.
0
Comments
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May I ask who this payment was to?Bank Accounts - Barlcays Premier[/B] - £1000 o/d, HSBC - £200 o/d- First Direct - £500
Credit Cards - Barclaycard £2000 - Silver Card £1300 - Flybe £7500 - HSBC £1000 - First Direct £2500 First Direct Gold £3000
6 credit accounts closed in 2010!
Official SOS Club number 001 - Dry until 01.07.100 -
Yes, it was to a local general store.0
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The way you spell cheque and mention general store leads me to think that you are based in the US. If so, it may be worth noting that this is a UK based site, and the banking rules here are most likely to be quite different.43580
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It is likely they would have recevied only £20-MysticWolf wrote: »Yes, it was to a local general store.
They are likely to dispute this with the bank who will carry out investagtion and are likely to review the cheque and correct itBank Accounts - Barlcays Premier[/B] - £1000 o/d, HSBC - £200 o/d- First Direct - £500
Credit Cards - Barclaycard £2000 - Silver Card £1300 - Flybe £7500 - HSBC £1000 - First Direct £2500 First Direct Gold £3000
6 credit accounts closed in 2010!
Official SOS Club number 001 - Dry until 01.07.100 -
I would ring the bank and resolve it yourself.
That way you know exactly how much you have in the bank and the general store is paid the proper amount for the goods you received.
Job sorted.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
Innocent_Guy wrote: »It is likely they would have recevied only £20-
They are likely to dispute this with the bank who will carry out investagtion and are likely to review the cheque and correct it
I agree, I would have thought the recipient will be creditted with £20.76.0 -
But it makes you wonder. When they deposit the check, it is keyed by their bank and then sent to my bank (least I think that is how it works), so in theory they could both key different amounts couldn't they. Food for thought. Needless to say, I know my luck - and no such thing as "free money" despite how badly I might need it.0
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Innocent_Guy wrote: »May I ask who this payment was to?
Does that matter? Is it any of your business?0 -
The way you spell cheque and mention general store leads me to think that you are based in the US. If so, it may be worth noting that this is a UK based site, and the banking rules here are most likely to be quite different.
You dont say :T:T however, a lot of older people still use the term "general store" :rotfl::rotfl:.
Sweeping generalisations dont help anyone :rotfl:0 -
The value of the cheque is only keyed once, by the accepting Bank. The amount is then printed onto the bottom line of the cheque, along from the account number, and is then computer read at every stage thereafter.
If you want to ensure that you'll not spend the cash left in your account by this error, I would contact your own bank so it can be quickly resolved.0
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