Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
What happens if you receive a check with insufficient funds?
Say somebody would write me a check for $200 but they don't have that much money in their account... do i still get $200 from the bank and the banks just deal with getting money and fees from the person who wrote it to me? or am i out that money?
what if you just go to the bank and get it cashed, not deposited. I've done this all the time just walk into a bank and ask the teller to cash this i never even needed my account.
7 Answers
- SquigglesLv 51 decade agoFavorite Answer
If you know that they have insufficient funds, give the check back and wait until they actually have money. If you don't know and don't trust it, it's better to try and get it cashed at their bank instead of yours. If you do that, I believe the bank will deal with them but you won't get the money.
- Sean RobertsLv 71 decade ago
If someone gives you a check which is NSF, meaning that the person lacks the funds in his account to cover the check, then you will not get any money. The bank will not pay the $200.
I would contact the person, and tell him that his check bounced because of insufficient funds. If that doesn't work, I would go to small claims court and also file a "hot check" charge against him with the police.
- ?Lv 45 years ago
omnibus The check you presented was NSF? Why did you purchase a check when you could have deposited the money directly? NSF would be a very bad sign of the quality of item you purchased and you may have legal recourse. If you paid for an item with bad funds, and it were a check and not a money order, they could stop payment on it? While there may have been a processing error by the exchange's bank, it is rare. Time for a visit with your bank... and then a visit to the currency exchange,,, and maybe the police. Soccerref
- Genuine GuidanceLv 71 decade ago
When you deposit the check, after a day, they will release the funds to your account for you to use. The problem is, 2 weeks later or so, the check will come back NSF and they will be looking for that $200 they credited to your account. If you do not have it in your account, they will come after you, and give you a time frame to make your account good. They also may assess daily fees for being overdrawn, and you will get a bounced check fee.
If you know the money is not there, do not deposit this check.
- Classy GrannyLv 71 decade ago
No, te bank isn't going to deal with it. f there is no money in the account the check will come back as an overdraft and you be charged a fee. Usually $25,some banks charge more
- Anonymous1 decade ago
No you won't get any money. You will probably have to pay a fee for depositing a bad check too.
